The impact of accessibility of mobile loan applications on the level of savings among Strathmore university students.
Date
2021
Authors
Kimaku, Martha Wanjiru
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
This study looks into the impact of accessibility of mobile loan applications on the level of savings
among Strathmore University students. The continuous borrowing culture introduced by mobile loan
applications is discussed as being a key factor that inhibits saving efforts ofthe youth. The life cyc le
hypothesis model coupled with the technology adoption model wilt give this study an insight into
the saving and borrowing culture of the youth. How then does endless borrowing prevent the youth
fi·om creating good saving habits? With regards to borrowing and saving amongst individuals differ
as a result of behavior, knowledge and mindset. The study therefore intends to investigate how
number of mobile loan apps on each Strathmore University student's phone influences the level or
savings, how the existence of knowledge about the mobile loan applications influences the level or
savings among Stratlunore University student and how the level of usage of mobile loan applications
impacts the level of savings among Strathmore University students. A descriptive study design was
used whereas the estimated sample size was 384 students but only 100 respondents took part in the
survey. The study employed a voluntary sampling method by use of online survey which was clone
by the Strathmore University students order to investigate the factors that correlate students' saving
and borrowing patterns using mobile applications. A multiple linear regression model was applied
using the STAT A software to execute the analysis. Results revealed that there was a very weak
correlation between quantity, knowledge and fi-equency of access fi·om mobile loan applications and
the level of savings among Stratlunore University students. In addition, the more a student wns
equipped with the knowledge of loan apps decreased a chance for them to save.
Description
Submitted in partial fulfillment of the requirements for the Degree of Actuarial Science at Strathmore University