Financial hardship is a significant concern in higher education because it may shape students’ academic persistence and overall well-being. This study examined financial challenges experienced by college students, their perceived effects, and the coping strategies they used in a tuition-free Philippine state university. The study used a qualitative design guided by reflexive thematic analysis. Twenty-two students from Benguet State University were purposively recruited and interviewed. The analysis suggests that free tuition did not eliminate financial vulnerability, which persisted through recurring school-related and living expenses, rising prices, and insufficient or delayed financial support. Participants described difficulty meeting basic needs, prioritizing their expenditures, exercising spending control, and adhering to a budget. They perceived these challenges as affecting their academic performance and continuity, concentration, physical and emotional well-being, and social relationships. In response, they employed coping strategies, including engaging in income-generating activities, requesting financial assistance, saving, economizing, practicing self-discipline, and improving their financial literacy. They also relied on positive reframing and spiritual support. Despite these difficulties, participants’ accounts reflected resilience, adaptability, and resourcefulness in continuing their education. The findings informed the Adaptive Academic Persistence Model, which conceptualizes persistence as a cyclical process of appraisal, resource mobilization, adjustment, sacrifice, and reappraisal. By showing that tuition-free access does not fully eliminate financial barriers to meaningful participation, the study contributes to SDG-related discussions on quality education, poverty reduction, well-being, and reduced inequalities. The findings suggest that financial hardship remains a barrier beyond the cost of tuition and underscore the need for adequate institutional support that addresses students’ indirect educational and living costs, basic needs and financial capability.

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