Financial Resilience of Scholarship Recipients: Impact of Literacy and Inclusion through the Lens of Self-Control

Abstract

Effective financial management is essential for university students, particularly recipients of the KIP-K government scholarship, in maintaining academic and personal stability. Despite receiving financial assistance, many of these students still struggle to manage their funds wisely. This study examines how financial literacy and financial inclusion affect the financial management behavior of KIP-K scholarship recipients in the Business Administration Program at Universitas Nusa Cendana, with self-control as an intervening variable. Using a quantitative case study design, data were collected via questionnaires from 105 KIP-K scholarship students and analyzed using Multiple Linear Regression and Path Analysis, along with validity, reliability, and classical assumption tests. The results show that financial literacy and financial inclusion each have a positive and significant direct effect on financial management behavior, and that self-control significantly influences this behavior as well. Path analysis confirms that self-control effectively mediates the relationship between financial literacy/inclusion and financial management behavior. These findings suggest that while improving financial literacy and inclusion is important, self-control is the decisive factor in translating knowledge and access into disciplined financial habits. Educational institutions are therefore encouraged to provide more targeted financial literacy programs to strengthen students' self-discipline.