Introduction. As the cost of higher education rises, the debt associated with degree attainment also increases, including that of the Doctor of Physical Therapy degree. Research suggests that a relationship between financial debt and postprofessional career aspirations may exist, and financial self-efficacy could attenuate debt-related stress. These relationships have not been studied in the health professions outside of medicine. Methods. A total of 139 participants among 6 health professions programs housed in one public, academic medical center were surveyed. Surveys administered to participants provided Likert scale data for a multiple regression analysis. Results. Eighty-one percent of students reported having a medium, large, or extreme amount of stress from the total amount of debt they are accruing. More than 70% of student responses indicated that the amount of student loan debt they expect to accumulate will influence their posttraining career selection to some extent. The regression model indicated some predictive ability of stress from student debt. Two of the covariates, self-efficacy and career selection, were statistically significant. Self-efficacy accounted for 36% of the variance explained in students' self-reported stress from debt by itself. Students' career selection and stress were strongly associated, with career selection explaining 85% of the variance explained in students' self-reported stress by itself. Discussion. Health professions students in a public academic medical center had a “medium amount” of stress, on average, from financial debt. Stress was associated with the amount of student loans students expect to accrue and their financial self-efficacy. Students also appeared to base their postprofessional career aspirations, at least in part, on the stress they experienced from financial debt. Financial self-efficacy appears to be a promising moderator for debt-related stress. Conclusion. Stress appears to be associated with higher student loan debt, but financial self-efficacy may moderate this trend. Level of Evidence. IV, Cross-sectional descriptive survey design. What Is Known About the Subject? Costs of physical therapy programs continue to rise, requiring more physical therapy students to use loans to pay for their education. Other professions, including medicine, have noted that student loan debt can cause high amounts of stress and has the potential to influence career choices. What This Study Adds to the Existing Literature? Health professions students in one academic medical center appear to base their postprofessional career aspirations, at least in part based on the stress they experience from financial debt. Financial self-efficacy appears to attenuate the amount of stress students feel from student loan debt.

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Objective The Commission on Accreditation in Physical Therapy Education has introduced a requirement that 50% of core faculty members in a physical therapist education program have an academic doctoral degree, which many programs are not currently meeting. Competition between programs for prestige and resources may explain the discrepancy of academic achievement among faculty despite accreditation standards. The purpose of this study was to identify faculty and program characteristics that are predictive of programs having a higher percentage of faculty with academic doctoral degrees. Methods Yearly accreditation data from 231 programs for a 10-year period were used in a fixed-effects panel analysis. Results For a 1 percentage point increase in the number of core faculty members, a program can expect a decline in academic doctoral degrees by 14% with all other variables held constant. For a 1% increase in either reported total cost or expenses per student, a program could expect a 7% decline in academic doctoral degrees with all other variables held constant. Programs that have been accredited for a longer period of time could expect to have proportionately more faculty members with academic doctoral degrees. Conclusions Programs may be increasing their core faculty size to allow faculty with academic doctoral degrees to focus on scholarly productivity. The percentage of faculty with academic doctoral degrees declines as programs increase tuition and expenditures, but this may be due to programs’ tendency to stratify individuals (including part-time core faculty) into teaching- and research-focused efforts to maximize their research prowess and status. Impact This study illuminates existing relationships between physical therapist faculty staffing, time spent in research versus teaching, and program finances. The results of this study should be used to inform higher education policy initiatives aimed to lower competitive pressures and the costs of professional education.