Financial literacy among health professions graduate students

Edward P. Mulligan, Tara Dickson, Julie DeVahl

Research output: Contribution to journalArticlepeer-review

Abstract

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.

Original languageEnglish (US)
Pages (from-to)181-189
Number of pages9
JournalJournal of allied health
Volume49
Issue number3
StatePublished - Sep 2020
Externally publishedYes

ASJC Scopus subject areas

  • Public Health, Environmental and Occupational Health

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