How are you planning on paying for doctoral school?

[Annakei]

Ok so funded PHDs need not reply, we know your story

I would be interested to hear from folks attending PsyD programs who more than likely arent funded.

Are you planning to pay with private, government loans or self pay?

I aks because I have ONE school in consideration and I am ok with paying their out of state rate and then in state rate after one year. After racking up undergrad and grad loans the thought of racking up some more for pay possibly lower than $100k is rather daunting. I mean, Im not in it totally for the money but lets be honest. Docoral schooling plus HUNDRED thousands in debt not including a house? I need to be able to live after paying bills...

Your plans?

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[Forensic M.S.]

Ok so funded PHDs need not reply, we know your story

I would be interested to hear from folks attending PsyD programs who more than likely arent funded.

Are you planning to pay with private, government loans or self pay?

I aks because I have ONE school in consideration and I am ok with paying their out of state rate and then in state rate after one year. After racking up undergrad and grad loans the thought of racking up some more for pay possibly lower than $100k is rather daunting. I mean, Im not in it totally for the money but lets be honest. Docoral schooling plus HUNDRED thousands in debt not including a house? I need to be able to live after paying bills...

Your plans?

that is why most ppl avoid the psy.d. personally i am just going the master's route, even though i was rejected from psy.d's anyways. i am going straight into the work force after grad school and see how the water is. if things go rotten i will pursue a doctorate in psych or law

 

[docjohng]

I did what most do in your situation, I took out student loans. There's nothing wrong with a loan as long as the value you're obtaining from the loan is something that is indeed valuable. An education and a doctoral degree could certainly fall into that category.

If you manage your debt wisely, a practicing psychologist can come out into the world with $90k or $100k in debt and still make ends meet. Not easily, often, but it is do-able. If you can keep your grad school debt in check, that can help. That means, take a PT job as time allows in your 2nd or 3rd year. Often you can find a job as a psychological associate, administering psychological testing for consulting firms and such.

Learning to juggle and balance an academic life, a job, and a family is what most people do in that situation. It's challenging, but most of my friends did exactly that and made it out intact.

John