Socioeconomic Influence on Physical Therapist Student Financial Literacy, Self-Efficacy, Stress, and Anxiety
View abstract on PubMed
Summary
This summary is machine-generated.Doctor of Physical Therapy (DPT) students with educational debt experience higher financial anxiety and stress. Financial literacy education may help manage debt-related stress and anxiety in these students.
Area Of Science
- Health Professions Education
- Financial Psychology
- Socioeconomic Determinants of Health
Background
- Doctor of Physical Therapy (DPT) students face significant educational debt.
- Concerns exist regarding their financial literacy, self-efficacy, stress, and anxiety levels.
Purpose Of The Study
- To investigate the relationships between financial knowledge, anxiety, stress, and self-efficacy.
- To examine these relationships in relation to socioeconomic factors among DPT students.
Main Methods
- A cross-sectional survey of 578 DPT students.
- Utilized a demographic questionnaire and self-assessment tools for financial literacy, self-efficacy, anxiety, stress, and social support.
- Employed correlation and multiple regression analyses.
Main Results
- A moderate positive association was found between educational debt and financial self-efficacy/anxiety (r = .55).
- No significant differences in financial metrics were observed based on race/ethnicity.
- Education-related debt significantly predicted financial self-efficacy, anxiety, and stress.
Conclusions
- Educational debt is strongly correlated with increased financial stress and anxiety in DPT students.
- Financial literacy and self-efficacy do not differ by race/ethnicity, but self-efficacy correlates with anxiety.
- Debt management education is recommended to mitigate financial stress and anxiety.
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