njstudent

10+ Year Member
Dec 10, 2008
5
0
Status
A little help please. Checking facts. I've never taken a loan out before so I'm wondering what my expenses would look like if I had to borrow 60,000 for school. What would be the length, rate, etc. etc.?

Also, I'm reading online that the average salary for PTs in New Jersey is 59,000. Is this correct?

Thank you.
 

Ukraine

10+ Year Member
Nov 23, 2008
51
0
Status
Pre-Rehab Sci [General]
A little help please. Checking facts. I've never taken a loan out before so I'm wondering what my expenses would look like if I had to borrow 60,000 for school. What would be the length, rate, etc. etc.?

Also, I'm reading online that the average salary for PTs in New Jersey is 59,000. Is this correct?

Thank you.
There's no way it's 59,000. It should be around 70,000.
 

jbizzle

10+ Year Member
5+ Year Member
Dec 19, 2008
811
28
Status
Pre-Rehab Sci [General]
Hey! Im not a PT yet, just applying. But I have done my research a bit. $60K is pretty good. When you get done with the DPT, go into the interview, usually a job offer from the clinical affiliations from the school you go to, and ask for their loan forgiveness. They may offer to pay off all, half, or some of your loans to entice you to work there.

At the same time, I have never taken out a loan for school either. But I do know it is possible to take out a loan and not have to pay or accrue any interest until you graduate. Like I said I have never taken out a loan so I may be wrong. But I do know about loan forgiveness. Maybe others will start commenting in.

As far as annual salary, yeah 60-70K sounds about right, but part-time work here and there can get it up to 90-100K. No lie. Especially if its a PRN at a hospital (part time with no benefits, which is the reason why they pay so well, since you get benefits from your full-time job) and the hourly pay is pretty good. But try homehealth at your own risk since it does pay the most for PT. Like I posted on another thread. I know some PTs and nurses that are home health and they said they go to some disgusting houses some times. One almost got bit by a dog.

Anyone else want to add about taking loans out and doing a FAFSA and stuff, since the FAFSA application opens up on January 1,2009 so I'm trying to get ready for that. Reading about it on their websites can only help so much.
 
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jbizzle

10+ Year Member
5+ Year Member
Dec 19, 2008
811
28
Status
Pre-Rehab Sci [General]
Best case scenario, stay at home with parents while going through DPT...I know it is difficult...I've went through undergrad staying at home and it sucks...girls don't really go for dudes after they found out they still live at home. Graduate then ask for loan forgiveness. In all cases or at least most they will offer to pay half of the loan which then makes it like paying a car off in 4-5 years. It's all good.
 

Akiramay

10+ Year Member
7+ Year Member
Nov 18, 2008
374
1
Chicago
Status
Physical Therapist
Yah, that's what I'm doing, living at home when I'm in PT school. I've been away for undergrad so I don't know how it's going to be like when I'm home for good for 3 years!
 
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