PT school debt spreadsheet

[poutine]

I just got accepted at a private school and put down the deposit. It's an expensive school and during my decision making process I made an excel spreadsheet about debt and loans and post-grad pay.

This spreadsheet is based on the following assumptions:
Tuition is $32,000, living expenses are $13,000 per year. That's the cost of my school, and I'm frugal. I labeled this as "education expenses" even though it includes living expenses

Post-grad job pays $60,000 pre-tax. I based this on a thread I found on SDN that showed the average post-grad PT job to have about this salary.

I created a simple 3-tier tax bracket at 10,15, and 25% which is based on current US income tax.

No parental contributions and paying for PT school entirely with loans.

Basically, this spreadsheet paints a picture of earning 60k a year repaying a loan of 150k over 10 years.
I hope you find it helpful. I would love to know what you think of it.

---

Members don't see this ad.

 

[Ngozi Onyema]

I don't know if I'm being stubbornly delusional but I expect to make almost double the yearly salary you have for PTs. I don't know for sure but I'm expecting to make $100,000+ (pre-tax) a year. Am I crazy? I heard of PTs making $50+/hour.

I don't mean to make this all about money but I'm a Physical Therapist Assistant and my yearly salary as a full time employee is really close to that which you say is for a PT($60,000). That doesn't sound right to me. I can't deny one major reason I am going in to DPT is the salary since I am already in the PT field but if you are telling me that the salary I will be making as a PT will only be $10,000 more than I am making now, then I may have to rethink this DPT thing.

Seriously, I seriously need to look in to this more.

 

[nicolej5]

I don't know if I'm being stubbornly delusional but I expect to make almost double the yearly salary you have for PTs. I don't know for sure but I'm expecting to make $100,000+ (pre-tax) a year. Am I crazy? I heard of PTs making $50+/hour.

I don't mean to make this all about money but I'm a Physical Therapist Assistant and my yearly salary as a full time employee is really close to that which you say is for a PT($60,000). That doesn't sound right to me. I can't deny one major reason I am going in to DPT is the salary since I am already in the PT field but if you are telling me that the salary I will be making as a PT will only be $10,000 more than I am making now, then I may have to rethink this DPT thing.

Seriously, I seriously need to look in to this more.

the only pt's that I have every heard of making 100,000 a year are the ones who have been at it for 10+ years. Certain regions make more (new york I believe, etc) and it depends on a lot of factors, but if you think you will be making 100,000 to start, yes, mildly delusional lol.

 

[Ngozi Onyema]

It's one thing to do it for the love and want to be in the field but I'm already in the field. There are people who love PT that are not not even in the field and are rethinking going in to the field because of the cost/salary issue. I feel kind of weird, especially in light of the tuition costs I am seeing going in to DPT. I did not think I'd be paying $100,000 for DPT school, I thought $70,000 tops plus I thought salary would be more at start. So salary is less than I thought and tuition is more than I thought. I don't know. I have some thinking to do. This is not the way I should be feeling especially with interviews coming up. I want to be enthusiastic but I feel like my bubble has burst.

 

[nicolej5]

It's one thing to do it for the love and want to be in the field but I'm already in the field. There are people who love PT that are not not even in the field and are rethinking going in to the field because of the cost/salary issue. I feel kind of weird, especially in light of the tuition costs I am seeing going in to DPT. I did not think I'd be paying $100,000 for DPT school, I thought $70,000 tops plus I thought salary would be more at start. So salary is less than I thought and tuition is more than I thought. I don't know. I have some thinking to do. This is not the way I should be feeling especially with interviews coming up. I want to be enthusiastic but I feel like my bubble has burst.

Then why do something you don't love? If you wanted to go into pt just for the money, then you didn't do enough research and only based your presumed salary off of an assumption. Yeah I won't be driving a BMW around and I won't be living in a mansion, but I know I will be living comfortably, won't be living paycheck to paycheck and will most likely always have a job. Oh and I will always be doing something I love and believe in!

 

[jblil]

I don't know for sure but I'm expecting to make $100,000+ (pre-tax) a year.

Read this thread very carefully:
http://forums.studentdoctor.net/showthread.php?t=931151
or scroll to the last post to get a summary.

If you expect to make $100K right away - then yes, you are delusional.

 

[Ngozi Onyema]

nicole I love PT. I'm a PTA and i love the job. From my experience a PT and a PTA are pretty much the same. I'm just saying that with the revelation of the $60,000 salary I feel like I'm going to do all of this and go in to so much debt and the only thing that's going to change is that I'll be making $10,000 more a year and have the right to do Evaluations. I believe my situation is kind of different from that person not already in the PT field. To them you say they should do it for the love but I'm already in the field so the "do it for the love" saying is a different for me. I'm pretty much already doing it as a PTA. That's why I say a major reason for me going in to PT from PTA is salary. One of the initial reasons that pushed me to pursue DPT was a PT I worked with who told me she made $55/hour. Am I over simplifying PT by saying that it's pretty much the same as a PTA?

 

[TJBaker019]

I agree that a six figure income from the get go is pretty difficult. With that said, I have several friends that manage to get close to that within 5 years of graduating. There are opportunities, but if you expect to take your degree and bring it in to the closest hospital or outpatient clinic, likely you'll find the average of 60-70k a year gross. Now if you are creative and work a lot, I wouldn't say that it is unrealistic. (home health along with a contracted position or straight private practice from the get go which can be reallllly difficult). Obviously, those PT's that are private practice will make more than the contracted "work for the clinic" PT. In the end, I'm a firm believer in doing something you love, and rewarded with such an awesome degree, living comfortably, and being able to support a family. There are some who go into PT because they think they are the Doctor's wingman and get paid as such. I'm pretty sure that is a figment of imagination and PT's won't come close to an MD's salary.

I see the debt accumulated as another bill to pay for the years to come, but you pay that bill knowing you have a career and the ability to support a family for the rest of your life.

 

[DPTHopeful2012]

You won't be making $60K per year for the rest of your life. That's just an average # pulled from somewhere as a starting salary. Years down the road you will be making more than 60K per year whereas PTA salary does not increase up to a DPT salary.

PT wages: http://www.bls.gov/oes/current/oes291123.htm

PTA wages: http://www.bls.gov/oes/current/oes312021.htm

I think it's important to negotiate your salary when you get offered your first DPT job. Your salary will only go up from there, so starting at $60K is a lot different than starting at $70K.

I'm shocked that some applicants haven't researched DPT salaries. So many people on this forum mention they want to be a DPT not for the $ but for the love of PT, but I think we all need to think about the future and be realistic. Yes, we all love PT and money isn't everything, but at the end of the day, whatever paycheck you're bringing home determines a LOT in the way you live. We all want to work hard and get paid for it, so why would you pick a career and not research what your potential salary might be?

 

[TJBaker019]

I'm shocked that some applicants haven't researched DPT salaries. So many people on this forum mention they want to be a DPT not for the $ but for the love of PT, but I think we all need to think about the future and be realistic. Yes, we all love PT and money isn't everything, but at the end of the day, whatever paycheck you're bringing home determines a LOT in the way you live. We all want to work hard and get paid for it, so why would you pick a career and not research what your potential salary might be?

Great statement...

 

[jesspt]

nicole I love PT. I'm a PTA and i love the job. From my experience a PT and a PTA are pretty much the same. I'm just saying that with the revelation of the $60,000 salary I feel like I'm going to do all of this and go in to so much debt and the only thing that's going to change is that I'll be making $10,000 more a year and have the right to do Evaluations. I believe my situation is kind of different from that person not already in the PT field. To them you say they should do it for the love but I'm already in the field so the "do it for the love" saying is a different for me. I'm pretty much already doing it as a PTA. That's why I say a major reason for me going in to PT from PTA is salary. One of the initial reasons that pushed me to pursue DPT was a PT I worked with who told me she made $55/hour. Am I over simplifying PT by saying that it's pretty much the same as a PTA?

I'm assuming you work in a SNF, where you an often make more $$ than in an outpatient ortho clinic. Your opportunity to make more $$ in that setting is higher, and if you work in a more rural setting, where they have a more difficult time finding PTs, then you could make even more. However, it's extremely rare that a PT will make that coming out of school. For example, in the Chicago area, a large outpatient company that I used to work for typically paid new garduates between $62,000-$67,000.

And, if you feel that there is so little difference between a PT and a PTA, why incur the extra debt?

 

[Ngozi Onyema]

"And, if you feel that there is so little difference between a PT and a PTA, why incur the extra debt? "

Well because I thought the salary would be much higher. But I'm glad to hear that I can reach that higher salary with years of experience. And you're right I do work in a SNF so that explains it.

 

[motivatedDPT]

from what i've learned speaking to various new grads and experienced PT's in an acute hospital setting: new grads earn about $72-75K a year and with 10 years experience you will be close to 100K. as a perdiem acute care therapist one makes about $50/hour. of course this is just a generalized oberservation, the rates changes city-city, state-state. hope this helps

 

[rockstudy]

I don't know if I'm being stubbornly delusional but I expect to make almost double the yearly salary you have for PTs. I don't know for sure but I'm expecting to make $100,000+ (pre-tax) a year. Am I crazy? I heard of PTs making $50+/hour.

I don't mean to make this all about money but I'm a Physical Therapist Assistant and my yearly salary as a full time employee is really close to that which you say is for a PT($60,000). That doesn't sound right to me. I can't deny one major reason I am going in to DPT is the salary since I am already in the PT field but if you are telling me that the salary I will be making as a PT will only be $10,000 more than I am making now, then I may have to rethink this DPT thing.

Seriously, I seriously need to look in to this more.

If you're satisfied being a PTA and making around $50,000 maybe you should "rethink" DPT. When you figure 3 years with no income and the cost of school it may not be worth it to you. That's $150,000 in lost income alone. It's differant for most of us who haven't already invested 2 years to become a PTA. As much as I want to become a DPT, I would have to give this alot of thought if I were in your shoes. Best of luck with your decision.

 

[NewTestament]

.

I'm shocked that some applicants haven't researched DPT salaries. So many people on this forum mention they want to be a DPT not for the $ but for the love of PT, but I think we all need to think about the future and be realistic. Yes, we all love PT and money isn't everything, but at the end of the day, whatever paycheck you're bringing home determines a LOT in the way you live. We all want to work hard and get paid for it, so why would you pick a career and not research what your potential salary might be?

And at the end of the day we all have to pay the bills. PT is great, and I can't imagine myself doing anything else, but I also enjoyed personal training, but I couldn't make a living doing it. My father loves playing the piano, but he would be homeless if he played the piano for a living and wouldn't have a family. There are a lot of things we enjoy doing, but don't do as a profession because they don't pay. Reality is harsh sometimes.

A recurring theme on this forum is the debt/income ratio of PTs, which isn't good. If I had to pay for both living expenses and tuition, I'm not sure I would be in PT school. It's one thing to pay $1k a month for six years to pay off a loan, but $2k a month is a lot. The doctorate degree has definitely done one thing: driven up costs of obtaining a degree but it has not increased compensation or income. If you work in the middle of nowhere or travel as a PT, you can increase your pay, but most people don't want to do that for the rest of their lives.

If I were you, Ngozi, I would remain a PTA. Your income potential is more limited, but so what? If you go to PT school, you'll sacrifice three years of salary, and then have $100k+ of debt to pay off. What's the point?

Kevin

 

[nicolej5]

you have the chance to as much as double your pay with years of experience. Plus, there may come a time when PTAs are no longer needed and wouldn't it be worth it to have a DPT and most likely a guaranteed job? Take yourself out of the SNF setting and you're making significantly less as a pta at a regular outpatient ortho

 

[Ngozi Onyema]

Good points by both sides. I think if anything I need to at least try to find the cheapest way in to DPT school and I was saying in the UMDNJ thread how I'm thinking of just giving my all to try to get in to UMDNJ next cycle and drop everything this cycle despite the acceptance to one school and a couple interviews to another at the moment (all of which have about a $100,000 tuition). Not only could postponing to get in to UMDNJ next cycle be very cheap but I could spend the year working to save enough to pay for DPT school without having to borrow.

 

[nicolej5]

Good points by both sides. I think if anything I need to at least try to find the cheapest way in to DPT school and I was saying in the UMDNJ thread how I'm thinking of just giving my all to try to get in to UMDNJ next cycle and drop everything this cycle despite the acceptance to one school and a couple interviews to another at the moment (all of which have about a $100,000 tuition). Not only could postponing to get in to UMDNJ next cycle be very cheap but I could spend the year working to save enough to pay for DPT school without having to borrow.

that's a good plan. you have a job that pays the bills that you enjoy so you're in no hurry

 

[DPTHopeful2012]

Good points by both sides. I think if anything I need to at least try to find the cheapest way in to DPT school and I was saying in the UMDNJ thread how I'm thinking of just giving my all to try to get in to UMDNJ next cycle and drop everything this cycle despite the acceptance to one school and a couple interviews to another at the moment (all of which have about a $100,000 tuition). Not only could postponing to get in to UMDNJ next cycle be very cheap but I could spend the year working to save enough to pay for DPT school without having to borrow.

I think that would be a great idea. Go to the most affordable school even if you have to wait an extra year.

 

[Ngozi Onyema]

I know there's little chance of this happening but of the remaining schools on PTCAS still accepting applications (which are about 30 now and less if you count the ones I've already applied to) I would like to find the ones with cheap tuition ($60,000 and under) and apply before it's too late this cycle and hopefully get accepted to one of the cheap ones. I know I have to do the leg work and check each of the remaining schools tuition on their individual website but if anyone has any off head and can help I'd greatly appreciate it.

P.S. Do you know that a PT that I work with is going for her DPT? Is that not kind of crazy? I believe she received her PT license overseas though many years ago, i guess that's the reason.

 

[Azimuthal]

I know there's little chance of this happening but of the remaining schools on PTCAS still accepting applications (which are about 30 now and less if you count the ones I've already applied to) I would like to find the ones with cheap tuition ($60,000 and under) and apply before it's too late this cycle and hopefully get accepted to one of the cheap ones. I know I have to do the leg work and check each of the remaining schools tuition on their individual website but if anyone has any off head and can help I'd greatly appreciate it.

P.S. Do you know that a PT that I work with is going for her DPT? Is that not kind of crazy? I believe she received her PT license overseas though many years ago, i guess that's the reason.

I'd look into the overall cost and also factor in expenses such as cost of living, etc.

 

[Ngozi Onyema]

I thought of that and I thought of cost of living. I have money saved up and will have some more by the summer, I believe enough to cover cost of living in any state for the three years in DPT school without employment. So for now I'm just trying to get the tuition cost down.

P.S. I have the FLU

 

[Azimuthal]

P.S. I have the FLU

No. No you don't.

 

[nicolej5]

P.S. Do you know that a PT that I work with is going for her DPT? Is that not kind of crazy? I believe she received her PT license overseas though many years ago, i guess that's the reason.

she has to because the profession is shifting from masters to doctorate

 

[Ngozi Onyema]

I just realized another thing, as far as in-state tuition and out of state tuition, I believe it takes some time before I can be considered a permanent resident. I can't just move there a month before the semester starts and be considered for in-state tuition right? So if I'm looking at out of state schools I have to always look at the out of state tuition and that usually tends to be hundreds of times more than the instate tuition. So I'm better off just waiting until next cycle and trying for UMDNJ which is in the state I live in. Might have to check the math though. Some I've been calculating semesters(6+) instead of years (3).

 

[DPT21]

No. No you don't.

 

[Monastn5]

I just realized another thing, as far as in-state tuition and out of state tuition, I believe it takes some time before I can be considered a permanent resident. I can't just move there a month before the semester starts and be considered for in-state tuition right? So if I'm looking at out of state schools I have to always look at the out of state tuition and that usually tends to be hundreds of times more than the instate tuition. So I'm better off just waiting until next cycle and trying for UMDNJ which is in the state I live in. Might have to check the math though. Some I've been calculating semesters(6+) instead of years (3).

Most schools require you to have been living in the state for at least a year, and that you intend on living in the state for reasons other than just tuition purposes aka you plan to stay there after school. Sometimes it can be a pain to go through the process and prove you are becoming a permanent resident. Of course every school varies in their leniency.

 

[Ngozi Onyema]

That's okay, even with out of state tuition some of these schools are still cheaper than schools around me here in the North-East of the country.

 

[Monastn5]

I hear that! I'm in NJ as well.

 

[buzzlit3year]

One thing you should realize is that DPT schools are harder to get into year to year. More people are applying every year so the minimum stats are increasing. So if you got accepted to a school, it would be wise to attend this school. I know you want to go to UMDNJ to save some money but worse case scenario, you don't get into a school next year. You may end up regretting it.

My honest opinion is to start this year at the school you were accepted. At the end of the day we are all trying to get our DPT, even if it may cost a little more.

 

[gray0620]

I agree-- if you get into a school, go to that school. At the end of the day, you have to become a therapist and there are other ways to pay off the loans. If your content just working 40 hours a week, you will be paying them off for awhile. However, if you put your work in right out of school and develop your skills to become a great clinician you can pay them off much faster.

 

[Ngozi Onyema]

Well yeah at the same time how well I do with acceptances this year would be very telling. I applied to 20, well now 22 schools. And most importantly more than half of those schools don't require the GRE (which I feel is the weak point of my application). So that would be very scary if schools that don't require the GRE don't accept me. I'd have to consider myself lucky that I've been accepted to the one school and realize that I may not be as lucky next cycle, even if I improve my GRE score. So far I've only been accepted in to one of them, although I have 2 interviews in the near future. If that one school is the only school that accepts me this cycle after it's all said and done, I do have to consider the fact that I may have gotten lucky with that one acceptance and I may have to take it as it could mean that next cycle I may not get in to any schools.

So how well I do with acceptances this cycle will have an effect on my decision to postpone.

 

[NewTestament]

Sounds like a plan, Ngozi. If you reject your one acceptance this year, and then get rejected everywhere next year, you'll always regret it. But I would be surprised if no one else accepts you. 22 schools? Wow.

Kevin

 

[Ngozi Onyema]

Make that 24 schools now.

I just added these 4 schools to my list:

Southwest Baptist University
University of Mary
Alabama State University
Des Moines University - Osteopathic Medical Center

I had to add some schools that were affordable. Alabama State University looks good. I haven't found anyone talking about the school on here though aside from a post many years ago.

I'm still waiting to hear back from about 13 schools not including the 4 I just added to my list.

 

[nicolej5]

24 schools...maybe a little overkill? lol. I couldn't even imagine the costs to applying to so many

 

[Axesmasher]

she has to because the profession is shifting from masters to doctorate

No you dont. If you were before the shift to DPT you were grandfathered in. I know people with masters and plenty with just bachelor degrees.

 

[Ngozi Onyema]

You know I was thinking, if that one school does end up being the only school that accepts me, instead of thinking I should take it maybe be that might be saying that DPT is not for me. I mean for 23 other schools to reject me there must be a reason and they probably see something in me that shows DPT school is not for me and maybe if that happens I should look at that instead of looking at the one school that accepted me as being lucky. It would be horrible if I attended that one school that accepted me and then something happened and I failed out like half way through the program, time and money wasted. Maybe I should not look at the one school that accepts me as a opportunity to take to go in to DPT but as a message that these schools who interview/accept many students every year know what type of student it takes to finish the program and the type of student that doesn't.

Still waiting to hear back from about 17 schools now so we'll see. So far i have one acceptance and 2 interviews (this weekend).

 

[rockstudy]

You know I was thinking, if that one school does end up being the only school that accepts me, instead of thinking I should take it maybe be that might be saying that DPT is not for me. I mean for 23 other schools to reject me there must be a reason and they probably see something in me that shows DPT school is not for me and maybe if that happens I should look at that instead of looking at the one school that accepted me as being lucky. It would be horrible if I attended that one school that accepted me and then something happened and I failed out like half way through the program, time and money wasted. Maybe I should not look at the one school that accepts me as a opportunity to take to go in to DPT but as a message that these schools who interview/accept many students every year know what type of student it takes to finish the program and the type of student that doesn't.

Still waiting to hear back from about 17 schools now so we'll see. So far i have one acceptance and 2 interviews (this weekend).

Ngozi - I think it's good that you are thinking this through. It's a very important decision for you. It is possible however, to over-analyze to the point where you lose sight of what is right for you. I know from reading your posts that you've really struggled with this. You've had enough input from all of us out here in Hoping To Be DPTs Someday land to confuse anyone. If I were you I would make a pros & cons list and weigh that with what your heart is telling you. You were able to get your degree and you made it through PTA school so don't doubt yourself. If you work hard you should be able to make it through a DPT program if it's what you really want. Once you make your decision don't look back. Best of Luck to you.

 

[nicolej5]

You know I was thinking, if that one school does end up being the only school that accepts me, instead of thinking I should take it maybe be that might be saying that DPT is not for me. I mean for 23 other schools to reject me there must be a reason and they probably see something in me that shows DPT school is not for me and maybe if that happens I should look at that instead of looking at the one school that accepted me as being lucky. It would be horrible if I attended that one school that accepted me and then something happened and I failed out like half way through the program, time and money wasted. Maybe I should not look at the one school that accepts me as a opportunity to take to go in to DPT but as a message that these schools who interview/accept many students every year know what type of student it takes to finish the program and the type of student that doesn't.

Still waiting to hear back from about 17 schools now so we'll see. So far i have one acceptance and 2 interviews (this weekend).

why so negative? lol. Admissions committees don't have crystal balls. The only thing they go in is your application. Just because you get rejected for a school doesn't mean you aren't qualified to be a pt, it just means that you weren't a fit for that particular school. Look at the acceptance positively. That school thinks you are a fit for the program and obviously thinks you can withstand the rigors of pt school. Getting accepted/denied isn't some kind of divine intervention lol. You either want to be a pt or you don't. Answer that question on your own, don't go looking for coincidences or whatever as a reason why you shouldn't be a pt.

 

[Ngozi Onyema]

Thank you, I'll do that but right now I think for me it's cheap DPT school or no DPT school. I don't think I agree with the take what you can get idea even with the risk of not being accepted to any schools next cycle. I think I'd regret going in to so much debt more than I would not getting in to any DPT school.

With that said I hope I get in to one of the 4 schools I last added (especially Alabama State University, liked what I saw on their website), all of them are cheap.

 

[rockstudy]

Thank you, I'll do that but right now I think for me it's cheap DPT school or no DPT school. I don't think I agree with the take what you can get idea even with the risk of not being accepted to any schools next cycle. I think I'd regret going in to so much debt more than I would not getting in to any DPT school.

With that said I hope I get in to one of the 4 schools I last added (especially Alabama State University, liked what I saw on their website), all of them are cheap.

OK so you now know what is most important to you. The program that you will consider has to be as affordable as possible. You are in a unique position with your current PTA career . With your income waiting another year or so isn't such a bad thing.

 

[Ngozi Onyema]

I may not have to wait another year, University of Mary invited me for an interview. I really don't want to go through the hassle of getting recommendations again either.

 

[schnell8]

Has anyone heard anything about jobs helping you pay for your student loans? I went to Michigan State and our Pre-Physical Therapy club had some PT guest speakers who said that in addition to your salary and benefits, there are a few places that will pay your students loans for you as long as you sign a contract with them. I would imagine that if this was the case, your salary would be docked quite a bit to make up for it but it just sounds too good to be true...but then again, these words came directly for three licensed PTs that I have met. Two as guest speakers on separate occasions from completely different clinics...one from job shadowing (who actually came from the same clinic as one of the speakers). But yeah...

 

[nicolej5]

Has anyone heard anything about jobs helping you pay for your student loans? I went to Michigan State and our Pre-Physical Therapy club had some PT guest speakers who said that in addition to your salary and benefits, there are a few places that will pay your students loans for you as long as you sign a contract with them. I would imagine that if this was the case, your salary would be docked quite a bit to make up for it but it just sounds too good to be true...but then again, these words came directly for three licensed PTs that I have met. Two as guest speakers on separate occasions from completely different clinics...one from job shadowing (who actually came from the same clinic as one of the speakers). But yeah...

Yes, I know some hospitals do it and some clinics that do it if you work in an underserved area. Usually it lasts 3 years but could definitely be more/less. I'm not sure how much of your salary takes a hit, if at all. I've heard positive things about the loan forgiveness positions in AZ. It probably varies hospital to hospital, clinic to clinic. Here's a little snippet from a hospital in AZ.

http://www.bannerhealth.com/Careers/Education+and+Students/Tuition+Assistance.htm

 

[Ngozi Onyema]

My situation has changed a bit. Because of my current living situation (let's just say I don't have to worry much about cost of living) I am willing to attend a school with a high tuition (i.e. $100,000+) but only if the school is within commute distance (within an hour) from where I currently live. But for schools in which I'll have to relocate to a new living area to attend, the school will have to be cheap (i.e less than $65,000). So my options have opened up a bit and I'm looking to be accepted in to these local schools: NYU, Touro (Long Island or Manhattan), Dominican College of Blauvelt and Seton Hall University. I had my NYU interview Friday. I thought I wouldn't be able to afford to go to NYU but I relaize with my current living situation it'd be no different from relocating and going to a cheap school so I'm keeping hope alive that NYU accepts me. Seton Hall University is my number 1 choice of those 4 schools though as it is the closest and a little cheaper. I have also recently applied to 5 distant schools that are cheap(one of which I already have an interview in March with). So I'm looking to get accepted in to one of these 9 (or 10 if Touro is counted as 2) schools. All the other schools I applied to are not acceptable as they are too far from where I currently live and are too expensive. I think my chances of getting in to a school that I want this cycle is good. 9 or 10 schools, I have to get accepted in to one of them.

 

[nicolej5]

My situation has changed a bit. Because of my current living situation (let's just say I don't have to worry much about cost of living) I am willing to attend a school with a high tuition (i.e. $100,000+) but only if the school is within commute distance (within an hour) from where I currently live. But for schools in which I'll have to relocate to a new living area to attend, the school will have to be cheap (i.e less than $65,000). So my options have opened up a bit and I'm looking to be accepted in to these local schools: NYU, Touro (Long Island or Manhattan), Dominican College of Blauvelt and Seton Hall University. I had my NYU interview Friday. I thought I wouldn't be able to afford to go to NYU but I relaize with my current living situation it'd be no different from relocating and going to a cheap school so I'm keeping hope alive that NYU accepts me. Seton Hall University is my number 1 choice of those 4 schools though as it is the closest and a little cheaper. I have also recently applied to 5 distant schools that are cheap(one of which I already have an interview in March with). So I'm looking to get accepted in to one of these 9 (or 10 if Touro is counted as 2) schools. All the other schools I applied to are not acceptable as they are too far from where I currently live and are too expensive. I think my chances of getting in to a school that I want this cycle is good. 9 or 10 schools, I have to get accepted in to one of them.

you'd be willing to pay 100,000+ for tuition alone? wow haha

 

[Ngozi Onyema]

why so surprised? a lot of schools have $100,000+ tuition. Of course i will do Financial Aid and whatever it takes to get the cost as low as possible.

But my point is that it makes no difference. I can either go to a school where tuition is $60,000 but have to pay $60,000 for cost of living for 3 years which adds up to $120,000 or I could stay local and not have to pay much for cost of living but go to a school that is $100,000 for tuition. So it makes no difference. Either way I'm spending $100,000+.

Did you think I meant $100,000+ for one year? I'm talking about for the combined 3 years.

My $20,000 a year estimate for cost of living may be a little over estimated though. I don't live an expensive life, I'm pretty frugal.

 

[nicolej5]

why so surprised? a lot of schools have $100,000+ tuition. Of course i will do Financial Aid and whatever it takes to get the cost as low as possible.

But my point is that it makes no difference. I can either go to a school where tuition is $60,000 but have to pay $60,000 for cost of living for 3 years which adds up to $120,000 or I could stay local and not have to pay much for cost of living but go to a school that is $100,000 for tuition. So it makes no difference. Either way I'm spending $100,000+.

Did you think I meant $100,000+ for one year? I'm talking about for the combined 3 years.

My $20,000 a year estimate for cost of living may be a little over estimated though. I don't live an expensive life, I'm pretty frugal.

But you're accruing so much more interest with a school that costs that much more, so you're ending up paying more in interest, assuming you take loans out for the majority of tuition/books/fees

 

[Ngozi Onyema]

Well I was probably only going to take loans for half of that. Which I was going to do anyway if I went to the cheap school distantly. So like $60,000 in loans and even less with Financial Aid. The money that I would have spent on Cost of Living distantly will be going towards tuition. I have that saved up.

BTW, I just realized the Dominican College of Blauvelt is really cheap and it just became at the top of my list.

 

[nicolej5]

is that a weekend program?? It sounds familiar, but I could be wrong.