TY - JOUR
T1 - Financial literacy among health professions graduate students
AU - Mulligan, Edward P.
AU - Dickson, Tara
AU - DeVahl, Julie M
N1 - Funding Information:
Supported by a grant from the Southwestern Academy of Teachers (SWAT) at UT Southwestern Medical Center, Dallas. The authors report no conflicts of interest related to this study. . RA2157—Received July 17, 2019; accepted Nov 3, 2019.
Publisher Copyright:
© 2020 Assoc. of Schools Advancing Health Professions, Wash., DC.
PY - 2020/9
Y1 - 2020/9
N2 - AIMS: The impact of student debt management on mental health, career choices, and advanced training in allied health professions is unknown. The purpose of this project was to pilot a survey that identifies students' financial literacy and self-efficacy. METHODS: A cross-sectional survey containing 43 items related to financial habits, savings knowledge, credit and borrowing strategies, and investment knowledge was administered to assess financial literacy, self-efficacy, and career plans in a group of health professions graduate students. RESULTS: 134 of 268 surveys were completed by a variety of health professions. Financial habits and credit and borrowing categories scored the highest at 50% correct. Students scored the lowest on investment knowledge with an average of 25% correct responses. The overall mean self-efficacy score was 15.5±3.8. Three independent variables had a significant correlation of determination with overall financial literacy, which included marital status, older age, and individuals who identified as white non-Hispanic. Similarly, identification as white non-Hispanic had a significant correlation of determination with financial self-efficacy, but there were no significant differences based on age or marital status. CONCLUSIONS: Allied health students demonstrated low financial literacy and self-efficacy. Health care educators should consider delivering educational content to address these deficits. J Allied Health 2020; 49(3):181-189.
AB - AIMS: The impact of student debt management on mental health, career choices, and advanced training in allied health professions is unknown. The purpose of this project was to pilot a survey that identifies students' financial literacy and self-efficacy. METHODS: A cross-sectional survey containing 43 items related to financial habits, savings knowledge, credit and borrowing strategies, and investment knowledge was administered to assess financial literacy, self-efficacy, and career plans in a group of health professions graduate students. RESULTS: 134 of 268 surveys were completed by a variety of health professions. Financial habits and credit and borrowing categories scored the highest at 50% correct. Students scored the lowest on investment knowledge with an average of 25% correct responses. The overall mean self-efficacy score was 15.5±3.8. Three independent variables had a significant correlation of determination with overall financial literacy, which included marital status, older age, and individuals who identified as white non-Hispanic. Similarly, identification as white non-Hispanic had a significant correlation of determination with financial self-efficacy, but there were no significant differences based on age or marital status. CONCLUSIONS: Allied health students demonstrated low financial literacy and self-efficacy. Health care educators should consider delivering educational content to address these deficits. J Allied Health 2020; 49(3):181-189.
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M3 - Article
C2 - 32877475
AN - SCOPUS:85090261752
SN - 0090-7421
VL - 49
SP - 181
EP - 189
JO - Journal of allied health
JF - Journal of allied health
IS - 3
ER -