Financial Literacy and Wellbeing among Medical Students, Residents, and Attending Physicians in Lebanon: Results from A Nationwide Multi-Centered Survey

No one teaches you how to think about money in medical schools or residency. But from the moment you start practicing, you must think about it. This includes the moment you enter medical school and take on student loans if your family cannot support you. In the USA, many students are taking financial loans, and there is a global trend towards privatizing medical schools. Even in countries like the UK, where tuition was traditionally low, costs are increasing, leading to more student loans and impacting the workforce.

We need to have a larger discussion about the role of finance in medical education, starting at the student level. Student loans have significant implications on residency and career choices, with extensive literature on the subject. The first step in solving this issue is recognizing that there is a problem. As a community of healthcare workers and providers, we must acknowledge the financial challenges in the medical profession and be proactive.

A study in 2019 highlighted the oxymoron of financial illiteracy in a highly educated population, inspiring the need for change.