CSU Takes Integrative Approach to Financial Education for DVM Students

Research in medical and financial education has suggested that there are three key factors needed for knowledge retention and application: convenient timing, relevant subject matter and individualization. A new integrative approach to financial education incorporating these factors was developed by the Colorado State University (CSU) Financial Education Specialist (FES). The Journal of Veterinary Medical Education recently published the article, “Integrating Individual Student Advising into Financial Education to Optimize Financial Literacy in Veterinary Students”* which stated that the FES provides “one-on-one financial advising to DVM students” and “targeted curricular interventions and optional workshops.” The article concluded, “Data from student and alumni surveys suggest that this integrative approach to financial education both improves knowledge and alters behaviors surrounding financial management.” Co-author Chad Jones added, “A lot of these students are financially stressed and we want to make them aware of their financial world and know where their money is going.”

The Association of American Veterinary Medical Colleges also weighed in on the paper:  “We understand how important it is for our students to be as informed as possible about how the financial decisions they make will define their educational journeys and shape their professional careers,” said AAVMC CEO Dr. Andrew T. Maccabe. “This is valuable and significant work because it examines and describes some of the most effective methods for helping our students do that. I think it also speaks of how important the members of our college communities view this effort. We appreciate their contribution to a critical and emerging body of knowledge.” AAVMC partners with the American Veterinary Medical Association and the Veterinary Medical Association Executives to lead the Veterinary Debt Initiative.

*Access requires Journal of Veterinary Medical Education subscription