Finacial plan help please (starting in fall)

[DPT_powelift]

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[jdaniels360]

how much is your tuition per year for the 3 year period? expect this to go up while you're there.

 

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[jdaniels360]

so where did 30k ish come from for tuition and fees for 3 years if you just said its 20k/yr for just tuition? Thats around 65k in tuition alone. Plus your 47k is 112k before living expenses are even factored in.... right>?

 

[jdaniels360]

or are you saying 37,925/yr for three years?

 

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[KurtPlisskin]

What exactly are you asking, OP?

 

[quebert]

Don't forget to factor in accrued interest on all those loans too!

I'm in a similar situation with a large chunk of undergrad loans due to switching my major. It's really overwhelming and financially doesn't make a lot of sense when you look at the expected salaries BUT if you have ever worked in a field that wasn't fulfilling you know that money isn't everything and even with large loans to pay off it will be worth it.

Another thing that has helped me accept all the debt is knowing there are programs out there to help reduce the monthly payment if needed in the beginning of your career when you don't make as much and/or can't handle working overtime. The Pay As You Earn program helped calm my fears. As did the Public Service Loan Forgiveness program. I hope to not need the assistance but knowing it is there is reassuring.

 

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[wanderpt]

I'm in a similar deal:

They only give me 19k for fall in spring in loans.... 🙁
Fall and Spring Tuition - 9667.1
Rent for 9 months - 4612
Food for 9 months - 2700
Utilities for 9 months - 900
Remaining balance- Only ~$100 a month leeway

I keep telling myself it will be worth it. I'm going to be living like a peasant for 36 months, yet I'll still be in considerable debt following the degree.

 

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[wanderpt]

I think most of us get a maximum of 20,500 in federal direct unsub, which for me only covers the tuition which is 20,310. But be thankful your tuition is so low! And that it covers everything even though you have a small Ammount left over for what ever life throws at you. I think I'm getting the rest form grad plus loans

Definitely. I totally agree.

I'm extremely happy for my situation relative to other students on this message board who are paying $40k+ in tuition a year, but I still don't think the norm should be >$100k in debt unless the insurance companies start paying more for PT treatments and subsequently salaries are raised 10% across the board to be on par with say, pharmacists who maintain a similar debt load as PTs but are paid more.

 

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[wanderpt]

If only the APTA was as powerful as some pharmaceutical company's and had an equivelant presence in capital hill

Someday, I hope. Perhaps if physical therapists can offer something so powerful the demand increases the field and the APTA will become more known. I always had a small hope that future bionics and such could lead to a boom in the field. For example, if Physical Therapists can secure a solid niche and the right to prescribe and calibrate bionics during the upcoming bionic revolution in the next 15-20 years I think the demand for extraneous treatments and strengthening the body to allow for the machine parts would lead to a boom and many more jobs.

 

[wanderpt]

Space colonies could also lead to a boom because those returning to earth would need massive amounts of physical rehabilitation assuming medicine couldn't provide a solution. This is all just speculation though, and I apologize for derailing the thread man.

 

[DPT_powelift]

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