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| Abstract : Universiti Pendidikan Sultan Idris |
| The purpose of this study is to analyze parental savings for children’s tertiary education.
This study used a questionnaire set as the research instrument and purposive sampling
method had been adopted for data collection purposes. A total of 392 respondents; which were
comprised of parents with children at tertiary education level participated in this
study. Data were analyzed through mean, frequency, percentage, multiple regression
analysis tests and were processed by using SPSS software version 23. The results
showed, there is no significant difference between number of parents who make savings and the
number of parents who do not make savings for their children’s tertiary education. In addition, own
savings accounts were identified as the most popular medium of savings among the parents. The
findings of multiple regression analysis showed that; income (β= 0.179, p = 0.001), people
surrounding (β = 0.392, p = 0.000), expectation (β = 0.364, p = 0.000) and institutions (β =
0.146, p = 0.014) factors were positively and significantly related to parental saving.
Meanwhile, only awareness (β = 0.047, p = 0.328) factor was found to be insignificant. In
conclusion, all parties should work together to increase public awareness in recognizing the
importance of making savings as early as possible to ensure sufficient savings to cover the cost of
children’s tertiary education. Bank and non- bank institutions can offer attractive and affordable
schemes to enable parents to make loans according to their ability. The findings of this
study may provide successful implications to parental awareness on the importance of financial
planning and adequate savings to fund their children tertiary education. |
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