Curriculum and Instruction | Higher Education | Interprofessional Education | Medicine and Health Sciences
Despite high costs of education, extended lengths of training, and rapidly increasing student debt, personal finance is an often-overlooked topic within professional school curricula. Due to the combination of high debt burden and poor financial literacy, professional students report low confidence and high stress regarding their personal finances. While some medical schools have begun to integrate financial education into their formal training, others provide little to no resources to combat this growing issue.
To address this gap and provide financial education opportunities, the Financial Development Club (FDC) was founded by students at the University of Nebraska Medical Center. The FDC aimed to fill gaps in financial knowledge through four, one-hour seminars on topics identified by students as being particularly relevant. Following implementation of this seminar series, surveys assessing student attitudes towards the presented financial topics were distributed to all students on campus, and results were stratified by attendance and non-attendance at the seminars.
Students who attended the seminars rated themselves as significantly more comfortable with all four financial topics (e.g. debt management, budgeting, investing, and retirement) compared to their peers who did not attend (p<0.05).
These findings demonstrate the efficacy of a small scale, student-run initiative to increase financial literacy on a single campus. Not only are these results a promising indication of the utility of a single club, they also offer a scaffold on which to build a formal personal and health care finance curriculum.
Personal finance, medical education, interprofessional education, debt management, financial planning, educational curriculum
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Payne, J., Haller, S., Flores, L. E., Baxter, J., Payton, W., , Nelson, K. Personal Finance Skills Among Health Professionals: Piloting A Student-Led Finance Curriculum And A Review Of The Current Landscape. Graduate Medical Education Research Journal. 2020 Dec 09; 2(2).