Factors influencing the success rate for financial management students at a selected technical vocational education and training college in Mpumalanga

Abstract

The success rate for students enrolled in Financial Management as a subject at Technical Vocational Education and Training (TVET) colleges has been a source of concern among numerous stakeholders in Mpumalanga province, with ramifications for the rest of South Africa. Students at TVET colleges come from a variety of secondary schools with poor financial management backgrounds, which contributes to the year's overall poor performance. The study's goal was to explore factors that influence the success rate of Financial Management students at a TVET college. The study used a qualitative research approach and an exploratory case study to understand the factors influencing the success rate. Purposive sampling, used to identify the participants in the area of Business Studies Department and Student Support Services, selected 14 participants from three campuses located in three separate townships. Data were gathered from semi-structured interviews conducted with the college's Head of Department (HOD), Education Specialist (ES), lecturers, and student liaison officer to examine their perspectives on the issue of the pass rate. Data were analysed thematically, with information grouped into themes and sub-themes that developed from all participants' responses. The study's findings revealed that inadequate enrolment procedures, a lack of career advice and poor student support services to aid students through placement tests and course selection are the causes of poor financial management student success rates in finance courses. According to the findings, qualified career guidance assisting at TVET colleges regarding programme's subject matter curriculum should provide proper guidance to new students as they enrol in their new programme at the college. This will reduce the high number of poor pass rates, dropout rates, throughput rates, and waste of government funds and resources. Lecturers should have sufficient skills to teach the subject, including pedagogic expertise and industry experience, in order to adequately support students and provide additional knowledge that can be applied in the workplace.