Anybody NOT taken school loans (or very few)?

[469738]

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I know everyone's financial situation is different, but i have not seen many people posting about "saving up for school" and then going verse basically just going as quick as possible and taking out massive loans. I am just wondering why everyone takes out expensive loans verse trying to save up some. If the situation allows it. I am an nontraditional, and have a decent paying job right now, but it is not fulfilling. It pays well enough luckily, that it allows me to save up a good chunk of change to almost pay for all of PT school if I wait 2-3 years before applying. I do have a 5 - 6 pre-reqs and the GRE to take, so that timeline makes taking pre-reqs possible while working full time. How do other people manage working full time and taking more than 1 pre-req and shadowing? I wish I could apply faster, but loans are ridiculously expensive for graduate school and I see so many of my friends sinking in debt from undergrad. Is there any advantage to rushing to get to applying to PT school verse waiting another year?

 

[nicolej5]

I of course can't speak for everyone, but I will be applying during my senior year of college. Any job that I can get during my last undergrad year won't pay enough to save up a considerable amount to even make a dent in PT school, considering the cost of living, etc. I've pretty much come to terms with the fact that I will be severely in debt from PT school, but with the savings plan I have been thinking about for when I start making a PT's salary, it shouldn't control my life. I've been fortunate enough in that my parents have paid for undergrad, so it's all on me for PT school, but at least I have a clean slate. Love what you do and you'll never work a day in your life!

 

[469738]

I am assuming the majority of students thinking of entering PT must be freshly new grads verse people with a "established career" and then having a change of heart for whatever reason and wanting to do PT school.

 

[13panda]

I've been lucky enough to have extra scholarship money to save up for grad school. So no undergrad loans. I also live at home and commute which saves a lot as well. I work part time on the weekends waiting tables. I should have 20k saved up for grad school by the time I graduate. This is going to help me avoid getting into too much debt! A lot of people aren't in the situation to save up. Most are going right from their bachelors to grad school. Wish there were more PT school scholarships!

 

[djb051]

I know everyone's financial situation is different, but i have not seen many people posting about "saving up for school" and then going verse basically just going as quick as possible and taking out massive loans. I am just wondering why everyone takes out expensive loans verse trying to save up some. If the situation allows it. I am an nontraditional, and have a decent paying job right now, but it is not fulfilling. It pays well enough luckily, that it allows me to save up a good chunk of change to almost pay for all of PT school if I wait 2-3 years before applying. I do have a 5 - 6 pre-reqs and the GRE to take, so that timeline makes taking pre-reqs possible while working full time. How do other people manage working full time and taking more than 1 pre-req and shadowing? I wish I could apply faster, but loans are ridiculously expensive for graduate school and I see so many of my friends sinking in debt from undergrad. Is there any advantage to rushing to get to applying to PT school verse waiting another year?

I know of a lot of people that have been out of school for awhile and changed their career to PT. It is definitely not uncommon. I agree a lot of people are able to handle it all because they have support. It all depends on each persons situation and what works best for them. In my situation, I am 24, I decided to go to grad school faster instead of waiting a few more years because I do not have any undergrad loans, and I have no other debt at the moment either. I quit my full time job towards the end of last year so that I could finish the remainder prerequisites and to volunteer and do more extracurriculars and study for the GRE ect. For the most part, I saved like crazy during my full time job so that I would still be able to live comfortable while I am unemployed. I also get some support from my parents, which really helps me out a lot. I am not so sure if I would have been able to handle everything if it were not for support from my parents. I should also still have some money saved to pay towards the tuition if I get in. I also decided to apply now and start earlier because while the salary I was getting from the job I quit was not bad, it was still quite a bit less than the salary I would be getting coming right out of grad school at the 1st PT job. I also do not have much responsibility now since I am not married, I have no kids, my car is paid off, ect. ect. so I figure now is a better time to go than later when I will have much more responsibility. So really it is all about each persons situation and what works best for them when it comes to applying now or years from now.

 

[DPTHopeful921]

I'll be using the Post 9/11 G.I. Bill and Yellow Ribbon program to pay for my PT school. Well, still waiting to here from my school about whether I can still participate in the Yellow Ribbon prgm this year. If I can participate in it, then I should have all my school paid for, plus Im given a monthly living stipend.

 

[jacqs]

I've been warned countless of times growing up about student loans. I've been blessed and lucky that my parents pay for my tuition, granted I did everything I could to minimize my costs while going to a school I wanted to go to. What I don't understand is that so many students out there don't apply for scholarships! Before going into PT school I could of sworn I applied to ~30 scholarships to pay off what I could. Luckily my parents pay for living expenses (my sister goes to undergrad in the same city also) and whatever I couldn't cover with scholarships they would provide. Like I said I've been really lucky though as this is what my parents offered to do for me (and they expect me to appreciate it, and make use of my eduction, etc).

However if I didn't have their help scholarships are the answer. It's a pain, but it really pays off. Then I would pay the rest with student loans. School tuition is also not that expensive for me. For a total of three years it would be ~$29,000 and that includes books. My program is also one of the very few DPT programs out there that allows 1 summer off so I'm spending that time being a tech at a clinic to save some money and apply what I learned my first year (and also enjoying my summer!).

So I guess bottom line is try to get into a school that affordable. I hear time and time again your education is what you make out of it. In the end passing boards is the most important and getting that licence. And apply apply apply for scholarships. Be wise about money! 🙂

edit: And also, I went straight to PT school after 4 years of undergrad. So I didn't wait, but I did plan accordingly with my school budget... knowing what I wanted to be really early on was an advantage though,

 

[Litlwarrior08]

I've applied to several scholarships as well. Also check out various hospitals and rehab centers regarding tuition assistance they are out there you just have to work real hard to find them and take the time and effort to apply. So far I won one smaller scholarship and a very nice tuition assistance. (TA) The TA requires me to work for the institution for 2 years.......no problem there. Then once hired and served the two years I can apply for tuition reimbursement. I will still owe a lot in loans but every bit helps. This is something I have to work on each year during PT school.

And.......no undergrad loans-had scholarships (saved some of the scholarship $) and lived at home, parents helping a bit w/ living expenses for grad school. As the previous posted noted; I also don't have any other responsibilities at this point in my life. Felt it better to start PT right away since my Kin degree didn't offer me too many job choices. LOL. I life guard during the summer- saved what I could. My money situation wasn't going to change but tuition just keeps going higher. My program and books will run abt 31,000 per year + living exp. Basically I have the first semester tuit. and expenses covered, than it's hello loans. OUCH

 

[djb051]

I am just wondering where are you guys finding these scholarships? I have heard a lot that there are not many scholarships out there for graduate students, and so those ones are really difficult to get.

 

[jdaniels360]

DPTHopeful921 could you explain the 9/11 G.I Bill and Yellow Ribbon Program, I haven't heard of either of them. Since you say they're pretty much paying for your school i'm wondering how available these "things" are to the rest of us!

Thanks!

 

[Azimuthal]

The Post 9-11 GI-Bill is given to those who have served in the military. You can google the details. The bill pays your school your tuition directly, not to exceed the highest applicable state tuition rate. The benefactor is also paid a stipend for living costs, books and tutoring.

The Yellow Ribbon program is an agreement with private institutions. In this agreement, the VA will match the private institution for what they will pay on top of the GI-Bill - to cover the remaining tuition cost.

Eligibility: military service.

 

[jdaniels360]

gotcha! thanks for clearing that up.