Other OT-Related Information Cost of school

[OThopeful97]

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Hi everyone,
I got accepted to OT school and plan to start this summer. I'm happy to have gotten in but I honestly cannot stop thinking about the amount of debt I will be in. The masters program is about 95k in tuition alone and I will need to take out loans to cover both tuition and cost of living expenses (I don't really have savings). When you include everything plus accrued interest, the number can be scary. Will anyone else be in this situation? I guess I'm just looking for some peace of mind...will this all be worth it? Will I struggle after graduation? I'm not looking to have a fancy life but I want to live comfortably and be happy with what I'm doing. Any thoughts/insight would be greatly appreciated!

 

[Dreamer_OT]

Hi everyone,
I got accepted to OT school and plan to start this summer. I'm happy to have gotten in but I honestly cannot stop thinking about the amount of debt I will be in. The masters program is about 95k in tuition alone and I will need to take out loans to cover both tuition and cost of living expenses (I don't really have savings). When you include everything plus accrued interest, the number can be scary. Will anyone else be in this situation? I guess I'm just looking for some peace of mind...will this all be worth it? Will I struggle after graduation? I'm not looking to have a fancy life but I want to live comfortably and be happy with what I'm doing. Any thoughts/insight would be greatly appreciated!

I'm on the same boat. I just try not to think about it. At the end of the day I'm going to be doing something I love and the pay is not bad so we'll be fine.

 

[ImAnOGOT]

Hi everyone,
I got accepted to OT school and plan to start this summer. I'm happy to have gotten in but I honestly cannot stop thinking about the amount of debt I will be in. The masters program is about 95k in tuition alone and I will need to take out loans to cover both tuition and cost of living expenses (I don't really have savings). When you include everything plus accrued interest, the number can be scary. Will anyone else be in this situation? I guess I'm just looking for some peace of mind...will this all be worth it? Will I struggle after graduation? I'm not looking to have a fancy life but I want to live comfortably and be happy with what I'm doing. Any thoughts/insight would be greatly appreciated!

That is pretty much the non-stop conversation in my brain right now. On one hand, this is a second career for me so I know EXACTLY what I don't want to be doing. Thanks to all of the research I've done, volunteer work, and now my current job in a hospital working alongside OTs and PTs, I'm confident and excited about this new direction. That said, since this is a second career, I'm in my 30s, have a toddler, and will likely have another kid..maybe even while in school. There's little room for error. Like the person above said, the pay is decent and the job itself is something I used to dream about as I was miserably working a completely unrelated desk job. I think it's good to be somewhat apprehensive about taking on that amount of debt, but if you rationally list out the pros and cons of school and a realistic career trajectory, hopefully you end up moving forward like me 🙂

 

[coastal18]

Hi everyone,
I got accepted to OT school and plan to start this summer. I'm happy to have gotten in but I honestly cannot stop thinking about the amount of debt I will be in. The masters program is about 95k in tuition alone and I will need to take out loans to cover both tuition and cost of living expenses (I don't really have savings). When you include everything plus accrued interest, the number can be scary. Will anyone else be in this situation? I guess I'm just looking for some peace of mind...will this all be worth it? Will I struggle after graduation? I'm not looking to have a fancy life but I want to live comfortably and be happy with what I'm doing. Any thoughts/insight would be greatly appreciated!

You are not alone! With my debt from undergrad + MOT, I'll have close to 150k. It sounds insane but I try to tell myself it will all be worth it and we will be able to pay it off. I heard a statistic lately that there are 7 OT jobs available for every graduate - so competition and job security will not be an issue. If your starting salary is 70k, and you spend 30k a year on loans - you still have 40k, which is a livable salary by itself. Try not to worry about the debt. Some people are not born with parents who can pay their way through undergrad or graduate school, and have to take out loans to get where they want to be in life. It's an investment in yourself and it WILL pay off!

 

[OThopeful97]

You are not alone! With my debt from undergrad + MOT, I'll have close to 150k. It sounds insane but I try to tell myself it will all be worth it and we will be able to pay it off. I heard a statistic lately that there are 7 OT jobs available for every graduate - so competition and job security will not be an issue. If your starting salary is 70k, and you spend 30k a year on loans - you still have 40k, which is a livable salary by itself. Try not to worry about the debt. Some people are not born with parents who can pay their way through undergrad or graduate school, and have to take out loans to get where they want to be in life. It's an investment in yourself and it WILL pay off!

Yeah I'll have around the same amount of debt when it's all said and done. I honestly wasn't thinking too much about cost/finances when applying, and was more focused on having the necessary requirements. Now as I'm realizing the difference in cost at cheaper state schools...I'm kicking myself a little. I already had to go back and take the basic prereqs, and some schools (the cheaper ones) had even more requirements. I guess I just wanted to get started with the process already instead of having to take a bunch of extra classes just to apply to certain schools. Anyways, I hope it will all pay off...I will try and be more optimistic haha. Thank you for your input!

 

[lilbunnies]

I'm going to an MOT program out of state, which will be 13000 more than the one that was in state not including living expenses. Unfortunately I got wait listed at my state school so I went with who let me in. When it's all said and done I think I will be around 70-80000 in debt by the time I'm finished due to the additional 12000 I accrued in undergrad. While this is daunting, being an OT is all I've ever wanted to do since I started college, and I'm not going to let the cost slow me down. Also I love the faculty and facility at the school I am about to attend and I'm actually excited about living in a place I'm not super familiar with. I am going to try to get a weekend job to offset costs once I get a feel for the program. I think as long as you don't go crazy buying a bunch of fancy things once you get out and buckle down on getting that debt paid off you'll be fine. I'm also considering moving to an area with higher salaries for OTs or being a traveling OT for awhile. It will all be worth it!

 

[ABOT5532]

I'm going to an MOT program out of state, which will be 13000 more than the one that was in state not including living expenses. Unfortunately I got wait listed at my state school so I went with who let me in. When it's all said and done I think I will be around 70-80000 in debt by the time I'm finished due to the additional 12000 I accrued in undergrad. While this is daunting, being an OT is all I've ever wanted to do since I started college, and I'm not going to let the cost slow me down. Also I love the faculty and facility at the school I am about to attend and I'm actually excited about living in a place I'm not super familiar with. I am going to try to get a weekend job to offset costs once I get a feel for the program. I think as long as you don't go crazy buying a bunch of fancy things once you get out and buckle down on getting that debt paid off you'll be fine. I'm also considering moving to an area with higher salaries for OTs or being a traveling OT for awhile. It will all be worth it!

You are just factoring in tuition. A weekend part time job may pay for only a little of your food. How about rent, transportation, and food? Rent alone should be $14-17,000 for the 2 years. Should easily be 90-110K in debt

 

[ABOT5532]

You are not alone! With my debt from undergrad + MOT, I'll have close to 150k. It sounds insane but I try to tell myself it will all be worth it and we will be able to pay it off. I heard a statistic lately that there are 7 OT jobs available for every graduate - so competition and job security will not be an issue. If your starting salary is 70k, and you spend 30k a year on loans - you still have 40k, which is a livable salary by itself. Try not to worry about the debt. Some people are not born with parents who can pay their way through undergrad or graduate school, and have to take out loans to get where they want to be in life. It's an investment in yourself and it WILL pay off!

FYI- a more reasonable starting salary is probably closer to $65,000 unless you live in a major city like NYC, Chicago, Dallas, or LA.

Even if your starting salary is $70,000 it will be more like $55,000 or even less after state and federal taxes. Then you have rent, food, transportation, other expenses etc. it would be impossible to pay 30K loans and still have 40K for living unless we lived in a country with no taxes. A more realisitc budget is 25K for loans and 30K for living after taxes. Hope that helps

 

[lilbunnies]

You are just factoring in tuition. A weekend part time job may pay for only a little of your food. How about rent, transportation, and food? Rent alone should be $14-17,000 for the 2 years. Should easily be 90-110K in debt

My tuition is 47000 so I was factoring a loan to live as well. My car is paid for so no payment there except $40 insurance and 20 bucks in gas every 2 weeks bc I drive a Honda, just going by my normal fuel usage. I have low bills except one credit card and my phone bill. I should mention that my other skill is licensed hairstyling so if I make decent tips on top of hourly on the weekends that would be enough to pay for my food. Also my dad is retired and said he would help me a little (I paid for my undergrad and beauty school on my own through scholarships and loans). Maybe I'm not being realistic, so perhaps you are correct, but I was just trying to point out that we will all go into debt to achieve this goal, but it's worth it to me. Thank you for your input though. I appreciate it.

 

[ABOT5532]

My tuition is 47000 so I was factoring a loan to live as well. My car is paid for so no payment there except $40 insurance and 20 bucks in gas every 2 weeks bc I drive a Honda, just going by my normal fuel usage. I have low bills except one credit card and my phone bill. I should mention that my other skill is licensed hairstyling so if I make decent tips on top of hourly on the weekends that would be enough to pay for my food. Also my dad is retired and said he would help me a little (I paid for my undergrad and beauty school on my own through scholarships and loans). Maybe I'm not being realistic, so perhaps you are correct, but I was just trying to point out that we will all go into debt to achieve this goal, but it's worth it to me. Thank you for your input though. I appreciate it.

$47,000 for an out of state program? That's cheap for OT. Most out of states are $65,000+. Even most in states are $45-60,000....you got a great deal

 

[OThopeful97]

My tuition is 47000 so I was factoring a loan to live as well. My car is paid for so no payment there except $40 insurance and 20 bucks in gas every 2 weeks bc I drive a Honda, just going by my normal fuel usage. I have low bills except one credit card and my phone bill. I should mention that my other skill is licensed hairstyling so if I make decent tips on top of hourly on the weekends that would be enough to pay for my food. Also my dad is retired and said he would help me a little (I paid for my undergrad and beauty school on my own through scholarships and loans). Maybe I'm not being realistic, so perhaps you are correct, but I was just trying to point out that we will all go into debt to achieve this goal, but it's worth it to me. Thank you for your input though. I appreciate it.

Wow that's really cheap. Lucky you! My tuition is 95k which is double that. And with cost of living expenses, I will probably be close to 150k in debt :/

 

[lilbunnies]

$47,000 for an out of state program? That's cheap for OT. Most out of states are $65,000+. Even most in states are $45-60,000....you got a great deal

Dang, really? My state school was 35ish or something like that, and that is even for a DOT. Well that makes me feel better. The cost was freaking me out a little bit, but after poking around on this forum I see I am lucky. The one time living in the south pays off. Lol

I am just super grateful for this opportunity. I've been working my whole college career for this.

 

[lilbunnies]

Wow that's really cheap. Lucky you! My tuition is 95k which is double that. And with cost of living expenses, I will probably be close to 150k in debt :/

Really?!?! Is this for a DOT or MOT? Also, may I ask where you live?

 

[ABOT5532]

Dang, really? My state school was 35ish or something like that, and that is even for a DOT. Well that makes me feel better. The cost was freaking me out a little bit, but after poking around on this forum I see I am lucky. The one time living in the south pays off. Lol

I am just super grateful for this opportunity. I've been working my whole college career for this.

Yep and most private schools are $60-100,000 for tuition only. States like Iowa, Nebraska, Connecticut, Hawaii only have private schools. And most other states only have 1-2 public schools outside of California, New York, and Texas.

 

[OThopeful97]

Really?!?! Is this for a DOT or MOT? Also, may I ask where you live?

GA. Cost of living isn't horrible but I was also taking into account accrued interest and undergrad loans. It's for an MSOT...seems crazy I know. I don't really have other options right now and I chose it mainly due to location.

 

[ABOT5532]

GA. Cost of living isn't horrible but I was also taking into account accrued interest and undergrad loans. It's for an MSOT...seems crazy I know. I don't really have other options right now and I chose it mainly due to location.

Did you get in anywhere else? $95,000 just for a masters degree??

 

[OThopeful97]

Did you get in anywhere else? $95,000 just for a masters degree??

I got into a couple schools up north but they were 80k and cost of living is higher. When comparing everything, the difference in cost wasn't as huge and I would rather stay in this area for several reasons. I hope I'm making the right decision and that it will still pay off in the end.

 

[ABOT5532]

I got into a couple schools up north but they were 80k and cost of living is higher. When comparing everything, the difference in cost wasn't as huge and I would rather stay in this area for several reasons. I hope I'm making the right decision and that it will still pay off in the end.

Does Georgia have a state school for OT? How much is it if so?

 

[OThopeful97]

Does Georgia have a state school for OT? How much is it if so?

Yeah there is one on the border of GA/SC but I honestly didn't even know it was a state school until after the fact...and I didn't meet all their requirements so I wasn't considering it at the time. Anyways this is my situation right now and I'm just trying to get an idea of what life will be like down the road when I need to pay off all these loans.

 

[nOTeworthy]

I'll owe about $110k in loans when I graduate (undergraduate + graduate). I don't have to factor in rent since I commute from my parents' home. I plan to pay it all off in two years or so by continuing to crash with my parents afterwards and putting every extra dime I have towards paying back my loans. I don't have kids or a spouse, so it's doable for me. There's a lot of six figure jobs in the state I live and I have a couple of such post-grad job offers through family friends, so I'm hoping it'll be a short nightmare. But yeah, it totally sucks. I'm right there with you.

 

[lilbunnies]

Yeah there is one on the border of GA/SC but I honestly didn't even know it was a state school until after the fact...and I didn't meet all their requirements so I wasn't considering it at the time. Anyways this is my situation right now and I'm just trying to get an idea of what life will be like down the road when I need to pay off all these loans.

I had a friend (business major at private school) pay 40K down in loans over the course of 4 years with jobs that paid around 40K so it can be done. Some companies offer help with loan repayment or sign on bonuses. I read about OTs who do PRN on the weekends. Also there is the public service loan forgiveness, though I am not sure of the terms might be kind of intense, as well as loan assistance for working with the Native American population. I'm just saying, the resources are out there and you should negotiate for what you want when you get hired on somewhere. I would not saddle myself with any hardcore debt such as buying a super nice house or an expensive car until you have the budget together to manage such things. Material things don't matter that much to me but I know it does for some and once the good pay starts coming in it can be easy to get caught up in it. Just something to think about. Good luck 🙂

 

[OThopeful97]

I had a friend (business major at private school) pay 40K down in loans over the course of 4 years with jobs that paid around 40K so it can be done. Some companies offer help with loan repayment or sign on bonuses. I read about OTs who do PRN on the weekends. Also there is the public service loan forgiveness, though I am not sure of the terms might be kind of intense, as well as loan assistance for working with the Native American population. I'm just saying, the resources are out there and you should negotiate for what you want when you get hired on somewhere. I would not saddle myself with any hardcore debt such as buying a super nice house or an expensive car until you have the budget together to manage such things. Material things don't matter that much to me but I know it does for some and once the good pay starts coming in it can be easy to get caught up in it. Just something to think about. Good luck 🙂

Thanks for your response. I want to live comfortably and by that I don't mean I need a fancy house, car, etc. But I'd like to go about my daily life without having to worry so much about money all the time (like if I want to eat out at a nice restaurant, go shopping or take a vacation every once in a while). I would eventually like to have a home but I'm not totally set on having kids-that would probably depend on our financial situation at the time. I guess it's just hard to wrap my head around the debt and predict exactly what my situation/lifestyle will be like in the future. If there are any OTs on here who have started paying off debt, I'd love to hear about your experience. I'm in my mid 20s right now so I would probably start working when I'm 28 or 29 and have to pay about 1200 each month. Maybe a little more with undergrad loans.

 

[occupationalguy]

I'd strongly suggest finding cheap schools and moving, if you have to. 100k from OT school debt is obscene. How these schools get away with this is amazing.
I mean, people need to start asking, why not NP or PA? Cost less, make more. Help people.
There is an ethical problem here with charging students 100-200k in tuition tobe an OT. We have gone through this a million times on this forum: if you plan on living in anything but a very cheap place how can you pay for your life, a car payment, a house payment, heaven forbid paying for KIDS? Marry rich? That's an option 🙂

 

[bhansen2]

You are not alone! With my debt from undergrad + MOT, I'll have close to 150k. It sounds insane but I try to tell myself it will all be worth it and we will be able to pay it off. I heard a statistic lately that there are 7 OT jobs available for every graduate - so competition and job security will not be an issue. If your starting salary is 70k, and you spend 30k a year on loans - you still have 40k, which is a livable salary by itself. Try not to worry about the debt. Some people are not born with parents who can pay their way through undergrad or graduate school, and have to take out loans to get where they want to be in life. It's an investment in yourself and it WILL pay off!

Don't forget about taxes. If you're single, a salary of 70k will land you in a tax bracket in where you will pay around 25% in taxes. So you're going to pay like 17k a year in taxes. So now you have 53k. If you put 30k towards loans, you have 23k left. Not exactly a livable salary. Also, don't forget about interest rates, which will increase loan amounts substantially overtime. It's not impossible to pay it off, but unless you have a spouse contributing substantially as well, it could take decades to pay off. I don't say this to scare anyone. You just need to know exactly what you're getting yourself into.

 

[OldHopeful]

Dropping this nugget to follow the previous comment: FinAid | Calculators | Loan Calculator

 

[coastal18]

Don't forget about taxes. If you're single, a salary of 70k will land you in a tax bracket in where you will pay around 25% in taxes. So you're going to pay like 17k a year in taxes. So now you have 53k. If you put 30k towards loans, you have 23k left. Not exactly a livable salary. Also, don't forget about interest rates, which will increase loan amounts substantially overtime. It's not impossible to pay it off, but unless you have a spouse contributing substantially as well, it could take decades to pay off. I don't say this to scare anyone. You just need to know exactly what you're getting yourself into.

Haha, you're right I did not factor in taxes. That being said, I'll still be pretty young when I finish - 25 - and have a partner who will be working full time as well, and we don't plan on having kids anytime soon, so although it will be tough, I feel like if I attack the debt aggressively (pay more than the minimum) and try to keep my living expenses low, I should be able to pay it off and still get by. I'm lucky to be from a military family and most of my loans are through USAA with a fixed 3% interest rate. I'm also hoping to negotiate some level of debt repayment assistance with whatever job I take, and I'm willing to work PRN some weekends.

I understand that it is a lot of debt, but not everyone has the option to attend an instate school (my state only has 1 in state OT school that accepts about 20 students) and I do not have financial assistance from my parents. It just is what is is.

 

[occupationalguy]

Don't forget about taxes. If you're single, a salary of 70k will land you in a tax bracket in where you will pay around 25% in taxes. So you're going to pay like 17k a year in taxes. So now you have 53k. If you put 30k towards loans, you have 23k left. Not exactly a livable salary. Also, don't forget about interest rates, which will increase loan amounts substantially overtime. It's not impossible to pay it off, but unless you have a spouse contributing substantially as well, it could take decades to pay off. I don't say this to scare anyone. You just need to know exactly what you're getting yourself into.

I don't want this to sound wrong, our career is different for those who opt to pursue it to support a family/lifestyle, compared to a person who works in it part time/prn as a hobby to bring in some extra cash. This usually breaks down along sex lines in our society; some women work part time/prn as their family is growing, and OT offers them a flexible schedule to meet their choices and needs. Most men are not in that category, and OT is a overwhelmingly female field. None of this is to dismiss women who choose OT as a career and pursue it as a full time choice.

Regarding salary:

60-70k would be a reasonable starting salary in midwestern states; most of my friends started at 60-65k.

Let's do that math:
70 - 16k in tax = 54k a year.
54k a year is $4,500 a month.
If you have 100k+ in student loan debt and you wish to pay that debt off in your lifetime, you're going to need to make 800-1000$ a month payments on that debt.
$4500 - 1000 student loan payment = $3500
3500 - $1000-$1500 for an apartment? = 2000-2500
$1500 in spending (utilities, car payments, groceries, etc, spending money shopping etc.) = $1000-$1500 a month left over.

Can you support a family with $1500 to spare a month? Can you buy a house? Can you go on vacation? OT has challenges, and one of them is salary. It's not all doom and gloom. You can make it work for you; but it's a challenge. Think twice before you pay $100-200k for an education that doesn't make a fraction of the salary. Unless you marry rich, or are doing OT as a PRN/fun job on the side, you should choose your school wisely. No one should be attending for profit OT schools.

 

[proapplicant]

Life is really really expensive. You will be worrying about money until you die. Be happy if you end up with an extra $1000-1500 a month.

 

[occupationalguy]

Life is really really expensive. You will be worrying about money until you die. Be happy if you end up with an extra $1000-1500 a month.

Sure. $1000 a month extra means that saving for my retirement and a vacation that year would be choices I have to make. The better option, if you can choose it, is to angle as hard as you can to get in a situation *unlike me* where you have less than 100k in debt.

For those going into OT, it's a great great field. You can do so much good as an OT, but all of this is worth considering as you make your choices, choose your schools, and debate other options.

 

[PuppyloverOT]

Putting my opinion out there because I was almost persuaded not to follow my dreams because of the debt (from others scaring me and my own self doubt) so hopefully this is reassuring.

1. If you want to be an OT and that's your only option, go for it! I'm sure you could do all the math and figure out what the difference would be in taking a year off doing a lower paying job (loss of salary) and going to a cheaper program, but me personally, I never want to go through the application process again.

2. If you have a cheaper option consider it, but don't focus solely on price. I turned down 2 top 6 programs because of price. However, I had other AWESOME options to pick from. I picked the program I liked best and didn't let ranking bother me. I also didn't pick the cheapest program because it wasn't for me. You should consider finances to an extent. Yes, I turned down a top program because I'm paying everything on my own and 105k for tuition alone plus 3 years of living expenses is too salty for me. Now am I willing to pay 80k versus 60k for a school that I feel is much more organized and will allow me to reach my goals more easily? Yes.

3. Look at your salary realistically, but don't freak out. For me, I know I will probably have a 1400 a month loan payment. After taxes and what not I will probably make $4500 a month. I can live off of $3000 a month after loans and taxes. I grew up in a middle class family and survived on my own with much less. I'm not becoming an OT to be rich. I am okay with living off of 36,000 for 10 years to pay loans off quick then making 70-80000. Plus there's always the chance (for some) that you could move in with parents/family for a year to pay loans down or end up having a spouse to help support the household.

* I'm not looking for arguments that my math is wrong or my salary expectations are wrong or my opinion is wrong. Simply my opinion 🙂 *

 

[elischeesecake]

Putting my opinion out there because I was almost persuaded not to follow my dreams because of the debt (from others scaring me and my own self doubt) so hopefully this is reassuring.

1. If you want to be an OT and that's your only option, go for it! I'm sure you could do all the math and figure out what the difference would be in taking a year off doing a lower paying job (loss of salary) and going to a cheaper program, but me personally, I never want to go through the application process again.

2. If you have a cheaper option consider it, but don't focus solely on price. I turned down 2 top 6 programs because of price. However, I had other AWESOME options to pick from. I picked the program I liked best and didn't let ranking bother me. I also didn't pick the cheapest program because it wasn't for me. You should consider finances to an extent. Yes, I turned down a top program because I'm paying everything on my own and 105k for tuition alone plus 3 years of living expenses is too salty for me. Now am I willing to pay 80k versus 60k for a school that I feel is much more organized and will allow me to reach my goals more easily? Yes.

3. Look at your salary realistically, but don't freak out. For me, I know I will probably have a 1400 a month loan payment. After taxes and what not I will probably make $4500 a month. I can live off of $3000 a month after loans and taxes. I grew up in a middle class family and survived on my own with much less. I'm not becoming an OT to be rich. I am okay with living off of 36,000 for 10 years to pay loans off quick then making 70-80000. Plus there's always the chance (for some) that you could move in with parents/family for a year to pay loans down or end up having a spouse to help support the household.

* I'm not looking for arguments that my math is wrong or my salary expectations are wrong or my opinion is wrong. Simply my opinion 🙂 *

Thank you for sharing this! I chose an more expensive program over a lower cost state school because of logistics and the costs associated with those logistics! Yes, I will have more debt, but I won't spend 2 years feeling stressed and frazzled over just commuting to school (cheaper school was a 1-1.5 hour commute, I'd need loans for the rest of my car payments, gas, insurance and such-- not a wise idea to me!) I think that as long as you have a realistic expectation of life after school and know what you're getting yourself into, it will end up alright in the end.

There is so much advice about choosing the cheapest program, but that's not the whole picture-- I could only apply to 3 programs because of where I live, where I was willing to move and the prerequisites I have completed, so my options, as many other folks here, were a bit more limited.

 

[PuppyloverOT]

Thank you for sharing this! I chose an more expensive program over a lower cost state school because of logistics and the costs associated with those logistics! Yes, I will have more debt, but I won't spend 2 years feeling stressed and frazzled over just commuting to school (cheaper school was a 1-1.5 hour commute, I'd need loans for the rest of my car payments, gas, insurance and such-- not a wise idea to me!) I think that as long as you have a realistic expectation of life after school and know what you're getting yourself into, it will end up alright in the end.

There is so much advice about choosing the cheapest program, but that's not the whole picture-- I could only apply to 3 programs because of where I live, where I was willing to move and the prerequisites I have completed, so my options, as many other folks here, were a bit more limited.

Anytime and best of luck 🙂 Yeah it seems like there is two drastic modes of thought, go cheapest or go highest ranked. I won't lie, originally I was a part of camp one, but the best decision is so personal and isn't that black and white. Similar to you... TJU was the cheaper choice of my top schools, but I'm not a philly person. I don't do Philly traffic and honestly I just don't feel safe in Philly (I grew up not far away so I know that won't change). I would either have to live on campus which is insanely high and would offset the initial deficit in price or be stressed every day walking/driving to and from places. Not worth it.

 

[occupationalguy]

Putting my opinion out there because I was almost persuaded not to follow my dreams because of the debt (from others scaring me and my own self doubt) so hopefully this is reassuring.

3. Look at your salary realistically, but don't freak out. For me, I know I will probably have a 1400 a month loan payment. After taxes and what not I will probably make $4500 a month. I can live off of $3000 a month after loans and taxes. I grew up in a middle class family and survived on my own with much less. I'm not becoming an OT to be rich. I am okay with living off of 36,000 for 10 years to pay loans off quick then making 70-80000. Plus there's always the chance (for some) that you could move in with parents/family for a year to pay loans down or end up having a spouse to help support the household.

* I'm not looking for arguments that my math is wrong or my salary expectations are wrong or my opinion is wrong. Simply my opinion 🙂 *

Your math is absolutely right. Your view is exactly the same view I have. If you have 70-150k in loans, my suggestion is to move back in with mom and dad for 2-3 years and pay it off, or participate in the Public Service Loan Forgiveness Program. The PSLFP won't likely be going anywhere, since most lawyers believe that we are grandfathered in from the origination terms/date. Any changes to the program (and yes, take a guess who wants to limit it), will only likely affect borrowers moving forward. Keep in mind that non profit jobs typically pay less. If you're willing to work on an Indian reservation you can get additional loan forgiveness.

I am under no illusion that OT is a "get rich quick" job like medicine. Our salary is less than 1/4th of a physician's, and our debt is not too far behind theirs. I am perplexed whenever I read in the "top jobs" reports that our career is "low stress." You can make OT work for you, you can open a practice of your own to reach a six figure salary. You could go into academia for better pay. There are many options for the ambitious. Hell, check out the PT forum, all they talk about is how their degree is super lucrative, and how they all want to open up practices. Don't see why we can't do the same, and many OTs do.

I don't want to get rich, but I sure would like to be able to pay my loans off, get a house or condo, and have a car that isn't 25 years old. My dad who graduated med school in 1962 finished with zero student loans; imagine that! We get the education system and policies we demand.