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When it comes to financial literacy, is today's physical therapist (PT) student—to borrow the question posed by a popular television show—smarter than a fifth grader? Probably. But, are these doctoral students more financially savvy than a high school senior? All too often, the likely answer is no.

Financial Literacy

"Many students never have had to handle their own finances. Their parents took care of it for them at the undergraduate level, so those students are in unfamiliar territory," says Kathy Anderson, director of financial aid at the MGH Institute of Health Professions in Boston. "In my opinion, parents do their children a disservice by keeping them out of financial discussions, because financial literacy isn't something that students learn in K-12 education."

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  5. Legislation to increase access to physical therapy services for patients in underserved communities [news release]. Alexandria, VA: American Physical Therapy Association; April 8, 2011. http://www.apta.org/Media/Releases/Legislative/2011/4/8/. Accessed December 29, 2016.
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  7. United States Department of Labor Bureau of Labor Statistics. Occupational Outlook Handbook: Physical Therapists. http://www.bls.gov/ooh/healthcare/physical-therapists.htm. Accessed November 30, 2016.
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  10. Quinton S. What happens when you warn students about their loan debt? The PEW Charitable Trusts. Stateline. May 19, 2016. http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2016/05/19/what-happens-when-you-warn-students-about-their-loan-debt. Accessed November 29, 2016.
  11. The State University of New York. Data Brief: Financial Literacy and Student Success. May 2015. http://system.suny.edu/media/suny/content-assets/documents/institutional-research/Financial-Literacy-Data-Brief-May2015.pdf. Accessed November 30, 2016.
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  13. Way WL, Holden K. Teachers' Background and Capacity to Teach Personal Finance: Results of a National Study. National Endowment for Financial Education. March 2009. http://www.nefe.org/Portals/0/WhatWeProvide/PrimaryResearch/PDF/TNTSalon_FinalReport.pdf. Accessed November 30, 2016.
  14. Pelletier J. Is Your State Making the Grade? 2015 National Report Card on State Efforts to Improve Financial Literacy in High Schools. Center for Financial Literacy at Champlain College. October 20, 2015. http://www.champlain.edu/centers-of-excellence/center-for-financial-literacy/report-making-the-grade. Accessed December 1, 2016.

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