Akad dalam Student Loan; Analisis Implementasi di BMT UMY

Sustainable financial education is defined as the continuous input of money and time on financial knowledge education after formal schooling. The purpose of this paper is to examine the impact of sustainable financial education on consumer life satisfaction. Utilizing the dataset of Household Consumer Finance of Chinese Urban Residents in 2012 by the China Financial Research Center of Tsinghua University, the variable of sustainable financial education is constructed through the variables of the necessity of financial education, the money spent on financial education, and the time spent on financial education. To improve the estimation results, order probit regression is utilized. The results indicate that financial education is significantly positive to consumer life satisfaction only for a consumer with higher education. Consumers who regard financial education to be of high necessity will feel more satisfied. The results also show that consumers who spend more money and time on financial education after formal schooling will be more satisfied. Moreover, the sustainable impacts of financial education on consumer life satisfaction are verified. In addition, this study provides empirical evidence that suggests that sustainable financial education positively contributes to consumer life satisfaction. The results have implications for policymakers to take measures in enhancing sustainable financial education to improve consumer life satisfaction.

The aim of this research is to determine the understanding of the community in Batu Bandung Village, Pino District, South Bengkulu Regency towards sharia microfinance institutions. The research method uses descriptive using a qualitative approach. The results of the research show that the people of Batu Bandung Village, Pino District, South Bengkulu Regency do not understand the difference between conventional microfinance institutions and sharia microfinance institutions. The community's understanding of Batu Bandung Village, Pino District, South Bengkulu Regency regarding products at sharia microfinance institutions is only limited to fund distribution products such as murabahah and musyarakah financing, while other products such as murabahah savings, wadiah savings, bai'u bithaman ajil financing, financing ajil is not yet understood. The understanding of the people of Batu Bandung Village, Pino District, South Bengkulu Regency regarding contracts in sharia financial institutions is only limited to knowing murabah and musyarakah contracts, while other contracts such as qardh contracts, salam contracts, mudharabah contracts, ijarah contracts, jua’alah contracts and hiwalah contracts are not understood.

This study aims to analyze the contribution of BMT NU Ngasem Senori Branch to strengthening the local economy based on sharia principles, with a focus on the role of BMT in providing access to financing for micro and small business actors and its contribution to the social and spiritual empowerment of the community. This study uses a descriptive qualitative approach with data collection techniques through interviews, observations, and documentation, and then analyzed inductively to describe the phenomenon of the role of BMT in building a just local economy. The results show that BMT NU Ngasem Senori Branch plays a role not only as a sharia microfinance institution that provides financing without usury through murabahah, mudharabah, and musyarakah contracts, but also as an agent of social transformation that fosters awareness of sharia economics at the grassroots level. The positive impact is seen in the increase in community income, the creation of new jobs, and the development of productive economic activities in the trade, agriculture, and home industry sectors. In addition, the management of zakat, infaq, and alms (ZIS) funds through the Baitul Maal unit plays a role in poverty alleviation, financing the education of orphans, and strengthening social solidarity. The existence of the BMT NU Ngasem Senori Branch has a strategic contribution in realizing a local economy that is inclusive, just, and based on Islamic values.

Objective: The objective of this study is to analyze the importance of effective management of financial inclusion and education in the context of sustainable development, highlighting its impact on the achievement of the SDGs. It also aims to identify the main challenges faced by vulnerable populations in accessing financial services and propose comprehensive strategies to improve financial literacy and accessibility, contributing to a more inclusive and equitable society. Theoretical Framework: For this research we have several relevant approaches and theories such as: financial inclusion theory; its relationship with the SDGs; financial education theory, as well as inclusion and sustainable development. Method: The methodology adopted for this research comprises a qualitative approach, based on the review of documents, public policies and government programs on financial inclusion and education to assess their effectiveness with respect to the SDGs. Data from the World Bank's Data Dashboard (The Global Findex Database, 2024) was analyzed using content analysis, which allowed identifying key themes and gaining a deeper understanding of the perceptions and experiences related to the evaluated programs.. Results and Discussion:The results obtained revealed that, although there is progress in financial inclusion in Mexico, there are still areas of opportunity to improve access to and use of financial services, especially among the most vulnerable segments of the population. It is necessary to highlight the need to continue working on the promotion of financial inclusion in Mexico and in other regions, through public policies that promote financial education, technological innovation, and collaboration between the public and private sectors. Research Implications: The practical implications of this research include the improvement of public policies and programs focused on financial inclusion and education, promoting more equitable access to financial services in vulnerable populations. At a theoretical level, the study provides a deeper understanding of the relationship between financial management and sustainable development, offering a conceptual framework that links financial inclusion with the SDGs. This strengthens the academic analysis on how financial education can drive inclusive economic growth. Originality/Value: The originality and value of this research lies in its focus on the direct relationship between financial inclusion and financial education with the SDGs, an area underdeveloped in the literature. The research offers a new perspective by assessing how financial education can be a key tool for achieving equitable and sustainable development. Its contribution to the literature is in providing a detailed analysis of public policies and government programs, highlighting their effectiveness and identifying areas for improvement, which brings a comprehensive and updated approach to the study of financial inclusion.

PurposeThis paper aims to examine prospective graduate students' attitudes toward educational loan borrowing in an experimental setting.Design/methodology/approachParticipants were randomly assigned to two treatment groups and one control group. Subjects in experimental group 1 received financial education: a short online course on the economic viability of getting a master's degree and how to finance it with a graduate student loan, while subjects in experimental group 2 received financial education along with information on the availability bias.FindingsRelying on a control group in the assessment of financial literacy education intervention impacts, this research finds positive causal treatment effects on individuals’ attitudes toward debt-financed graduate education. In comparison to the control group, experimental subjects perceived the possibility of going into debt with a graduate loan to complete a master’s degree as less stressful and worrying.Practical implicationsThis study has important educational policy implications to prevent students from stopping investing in human capital by perceiving educational loan debt as something stressful or worrying. The results can help potential (and current) grad students develop a feasible financial plan for graduate school by encouraging higher education institutions to implement educational loan information and financial education into university seminar courses for better graduate student loan decision-making.Originality/valueStudent attitudes toward debt have been analyzed in the context of higher education, but only a few researchers internationally have used an experimental design to study personal financial decision-making.

The PAUD head has a major role as responsible for the application of financial social education to the PAUD unit he/she leads, the role of which is also an external link, both in coordination and in building cooperation with other parties to support the successful application of social financial education in PAUD units or institutions he heads, designing learning programs. This research aims to (1) Describe the leadership role of the PAUD chief in developing financial social education; (2) Describes the strategy of the head of PAUD in creating a social education learning climate; (3) Describes the competence required of teachers in carrying out social financial education; (4) Knowing the chief PAUD performs supervision of the social education program; and (5) Knowing factors that become obstacles in implementing social and financial education. The researchers used a qualitative approach. The data was collected conducting interviews and observations. The results of the leadership research of the PAUD head in developing financial social education in PAUD Citra Indonesia and PAUD Amalia in Banjarbaru were able to be done well and successfully.

Islamic Micro Finance (IMF) has an important role in supporting the Sustainable Development Goals (SDGs) in Indonesia by providing inclusive financial access based on sharia. This study aims to analyze how the IMF contributes to poverty alleviation (SDG 1), increasing financial inclusion (SDG 9), reducing economic inequality (SDG 10), promoting sustainable economic growth (SDG 8) and improving financial education and awareness (SDG 4). The research method used is a qualitative descriptive approach with literature analysis and case studies from several sharia microfinance institutions in Indonesia. The research results show that the IMF through instruments such as qardhul hasan, mudharabah, musyarakah, and ZISWAF is able to provide financial solutions for poor community groups and micro businesses. In addition, the digitalization of sharia financial services further increases the IMF's reach in supporting financial inclusion. However, there are challenges that still need to be overcome, such as limited capital, low sharia financial literacy, and regulations that are not yet optimal. Therefore, strengthening regulations, sharia financial education and Islamic financial technology innovation are key strategies for optimizing the IMF's role in achieving the SDGs in Indonesia. This study provides an original contribution by highlighting the strategic role of Islamic Micro Finance in achieving SDGs in Indonesia through a sharia-based approach. The added value of this study lies in the integration between Islamic financial instruments and sustainable development goals, as well as the importance of digital innovation and financial education in the local context.

PurposeThe purpose of this study is to examine the association between financial capability and informal bankruptcy, especially among families in which the respondent and/or spouse borrowed student loans to fund their own education and families that did not have such loans.Design/methodology/approachUS nationally representative data were employed. Three family types were used, families with student loans borrowed to fund respondent and/or spouse's education and education was completed (type 1 holders) or not completed (type 2 holders), and families that did not borrow student loans for respondent and/or spouse's education (non-holders). Informal bankruptcy was measured by being insolvent and late in debt payment for 60 or more days. Financial capability was measured by both an index and its various components. Multivariate logistic regressions were conducted to examine associations between financial capability and informal bankruptcy.FindingsGenerally, financial capability was negatively associated with informal bankruptcy, and student loan holders were more likely to be informally bankrupt than non-holders. However, such negative associations were statistically significant for type 1 holders and non-holders but insignificant for type 2 holders. Two desirable financial behaviors (information search and online banking) reduced the chance of informal bankruptcy for type 2 holders.Research limitations/implicationsFirst, cross-sectional data cannot establish a causal relationship. Second, findings using data from a single country may not be generalized to other countries.Practical implicationsFinancial service professionals should help loan applicants evaluate the necessity of borrowing. Banking professionals can use the findings to develop products to meet different consumer needs. Financial educators should target different groups with different strategies in financial capability education. Policymakers should develop policies helping student loan holders complete education funded by student loans.Originality/valueThis study examines factors related to informal bankruptcy, providing insights to warning signs of bankruptcy. This study explores the potential effect of a new factor, financial capability, on informal bankruptcy, filling in a gap in the bankruptcy literature. This study recognizes differences in informal bankruptcy among various types of families and examines the different effects of financial capabilities on informal bankruptcy for different types of families.

Education financing is an issue that is still hot to discuss, because it cannot be denied that there are many problems in the field related to education financing, such as the high cost of education making many Indonesians drop out of school, not to mention being colored by various bad behavior of school officials, such as principals who deliberately rape (corruption) of education funds. This study aims to explain what elements must be understood in education financing for primary and secondary education in Indonesia based on theoretical studies. The writing method uses a literature study with a qualitative approach. Data collection techniques include reading literature from books or articles relevant to the research. Data analysis techniques using inventory, categorization, and analysis of research data. The results of the study explain that in the preparation of education financing, all school parties must first be able to understand well and thoroughly the definition of education financing itself, the legal basis, the types of education financing, the sources of education financing, and the preparation of the Draft Budget for School / Madrasah Expenditure Opinions (RAPBS / M). So it can be concluded that in implementing the formulation of education financing, the principal should cooperate with the vice principal, school treasurer, teachers, administrative staff (TU), School Committee, and several related parties, so that education financing can run effectively and efficiently.

College students, including athletes, have limited exposure to financial education prior to enrolling in college (Britt et al., 2015). Athletes juggling two full-time roles as athlete and college student have limited time for financial education and the opportunity to work. Some athletes receive athletic scholarships and some do not, but either way, many athletes must seek additional funding and student loans to pay for college. Huston’s (2010) model demonstrated connections between financial literacy, behaviors, and education to serve as a framework for our study. The purpose of this study was to determine college athletes’ subjective and objective financial literacy, how they applied this knowledge, and their preferred mode(s) of financial education to pilot financial literacy education geared specifically for athletes based on their preferences. Data was collected from two institutions in the same Power 5 conference: monthly spending logs, focus groups, interviews, a financial knowledge survey, and pre- and post-tests flanking a financial literacy module in first-year experience courses and summer bridge. A Money 101 course was piloted over eight weeks, and peer financial counseling was offered. As athletes might gain access to their name, image, and likeness (NIL) for potential income in the near future, financial education is paramount.

Generation Z has grown up in the digital age with extensive access to information, yet they often lack adequate knowledge on personal financial management. Low financial literacy can lead to poor financial decisions and financial problems in the future. The main objective is to understand how financial education helps Generation Z to improve their personal financial planning. The main objective is to understand how financial education affects Generation Z's financial awareness, knowledge and behavior. A qualitative approach was used in this research with a case study method. Data was collected through in-depth interviews with purposively selected Generation Z individuals. The interviews were analyzed using thematic analysis method to identify emerging patterns and themes. The results show that financial education has a significant role in improving Generation Z awareness and personal financial planning skills. Participants who have received financial education demonstrate better knowledge of financial management, as well as have more positive financial behaviors such as saving, investing and spending management habits. These findings provide important insights for policymakers, educational institutions and the private sector in designing and implementing effective financial education programs. More comprehensive and accessible financial education is needed to ensure Generation Z can make better financial decisions and manage personal finances more effectively.

Fishermen in Indonesia have limited access to financial assistant from banks because they do not meet criteria set by the bank. One institution that could be able to provide access and solve this problem is sharia micro-finance institution (SMFI). This study aims for identifying fishermen needs on SMFI financing products and proposing the most suitable financing design which can be applied through SMFI. The study uses qualitative approach by adopting phenomenology technique and holding a focus group discussion (FGD) to acquire the intended design. The study results showed that in general, fishermen of Palabuhan Ratu need financing product from SMFI like consumptive financing for living or family needs and productive financing that can be used to support the sustainability of their business such as purchasing equipment, boats, fishing tools and so on. The proposed design which formulated by this study incorporates double-approaches financing design; firstly, optimizing SMFI’s role as Baitul mall (house of fund) through two Islamic contracts model i.e. Qard or Qardhul Hasan and Temporary Waqf; secondly, both optimizing SMFI as Baitut Tamwil (house of financing) through three financing products that is Parallel Istishna (PI), Syirkah Mudharaba Mutlaqa (SMM) and Ijarah Muntahia Bit Tamlik (IMBT).

As community college students often come from lower socioeconomic backgrounds, report greater financial challenges, and experience higher cohort default rates on student loans compared to peers attending four-year institutions, it is important to understand how community college students develop a sense of financial wellness. Moreover, research has also found that community college students, many of them students of Color, rely heavily on family to persist toward graduation. As a result, this study analyzes qualitative data from 14 community college students who reported on whether they viewed their family as financial education resources and what specific lessons they learned from their family to improve their financial wellness. Results suggest many community college students may not have family with extensive experience in and knowledge of financial sectors (e.g., banking, finance, investment) and education concepts (e.g., savings accounts, building credit, budgeting), and therefore, have little financial education to impart. In addition, many community college students’ financial education was limited to knowledge of saving, with students rarely reporting their family imparting any education about many other finance concepts. Finally, community college students witnessed reverse role modeling when it came to money management from their parents, often teaching these students what not to do with their finances. Implications for community college research, policy, and practice are addressed.

Financial literacy represents the knowledge necessary to manage one's financial affairs in a way that contributes to overall wellbeing, yet financial literacy and financial education are understudied in sociology. While emerging adults have low rates of financial literacy overall, this article focuses on college students due to increasing college access and student loan debt. Based on the limited literature that assesses college financial literacy education, it appears that these types of programs may serve to advance college students' financial knowledge. Additional mechanisms that serve to develop college students' financial literacy include parent socialization, banking experience, and high school financial education programs. However, not everyone has the same access to these resources. Thus, given the magnitude of the US student debt crisis and persistent economic inequalities, college financial literacy education may prove beneficial for all students, particularly those from economically vulnerable backgrounds. This article serves as an invitation to sociologists to consider financial literacy education as both a worthwhile pursuit in application and as a research topic.

Purpose- Akad tijarah as a form of trade agreement has several types, in which needs to be adjusted to each necessity. It is important for related parties to understand what and how akad ijarah works. This article analyses how far the contribution of an Islamic microfinance institution (LKMS) nowadays, considering there are nash (Al-Qur’an and Al-Hadits) and also fatwa the national sharia council (DSN) MUI.
 Methods- Case studies and literature reviews are used to evaluate sharia business practices in BMT.
 Findings- Sharia microfinance institutions, in this case, BMT TUMANG, have carried out sharia principles in practice, especially for tijarah agreements with documents in the form of SOM and SOP as well as financing contracts (agreements), both in the principle of sale and profit-sharing.
 Implications/Limitations- This study is limited to one branch of the BMT so it cannot describe the overall practice carried out in other regions.