How is everyone paying for tuition?

[gotaspirations]

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Anyone freaking out about how expensive tuition is (at most schools)? Private school costs is astronomical!! How much is the tuition for the schools that you are applying for? How do you intend on paying it?

 

[drpibb]

How do you intend on paying it?

Blood sacrifice

 

[tpath11]

Blood sacrifice

I'm selling a kidney as well as sperm, hair, and blood. Maybe chase private loans for the rest

 

[gotaspirations]

I'm selling a kidney as well as sperm, hair, and blood. Maybe chase private loans for the rest

Seriously? I don't know if it's just me, but private institutions, you're looking to rack in around 180k. Am I calculating this all wrong? Private schools are so expensive!!

 

[gotaspirations]

Blood sacrifice

For which school are you sacrificing blood for?

 

[tpath11]

For which school are you sacrificing blood for?

I was just joking, i'm paying probably the least amount possible because I am in state and going to one of 2 in state schools in one of the lowest tuition states in the country WV.

 

[kellerac]

Loanzz

 

[jblil]

I posted this in the PT forum, but I think it belongs better in the pre-PT one.

(the post below is from an OT grad, but it applies equally well to PT):
https://forums.studentdoctor.net/th...-expensive-otd-program.1180735/#post-18474778

I have been on a few interview panels as the hospital I'm working at is actively recruiting PTs and OTs. Absolutely nobody cares what school you went to, only that you passed the Board and are currently licensed.

 

[tpath11]

I posted this in the PT forum, but I think it belongs better in the pre-PT one.

(the post below is from an OT grad, but it applies equally well to PT):
https://forums.studentdoctor.net/th...-expensive-otd-program.1180735/#post-18474778

I have been on a few interview panels as the hospital I'm working at is actively recruiting PTs and OTs. Absolutely nobody cares what school you went to, only that you passed the Board and are currently licensed.

Tell this to the people paying 170k to go to USC lmaoo

 

[kellerac]

Blood sacrifice

My first-born child. An offering to the almighty bursar

 

[gotaspirations]

I posted this in the PT forum, but I think it belongs better in the pre-PT one.

(the post below is from an OT grad, but it applies equally well to PT):
https://forums.studentdoctor.net/th...-expensive-otd-program.1180735/#post-18474778

I have been on a few interview panels as the hospital I'm working at is actively recruiting PTs and OTs. Absolutely nobody cares what school you went to, only that you passed the Board and are currently licensed.

Thanks for sharing. I'm so torn.... The only school I may even have a shot at is 180k for this round... I don't know what to do.

 

[tpath11]

Thanks for sharing. I'm so torn.... The only school I may even have a shot at is 180k for this round... I don't know what to do.

go for it man... trust me working min wage jobs suck, it gets more competitive every year too..

 

[CPHorseGirl]

My Mom is a PT as well and said the same thing. No one cares where your degree is from. Unless you plan to teach or something. Even though it is expensive, you can set a good budget and get it paid off because of the high number of jobs available when you graduate. Also some jobs offer loan repayment if you work there for a period of time. There are TONS of options.

 

[gotaspirations]

go for it man... trust me working min wage jobs suck, it gets more competitive every year too..

Thank you so for the encouragement... I'm still waiting but the numbers are really terrifying!! From what I saw the program is great. Amhhhhhg the cost!!!!

 

[astarblaze]

Thank you so for the encouragement... I'm still waiting but the numbers are really terrifying!! From what I saw the program is great. Amhhhhhg the cost!!!!

180K for just tuition??! If you're planning on taking out that much or more in loans, I'd highly suggest you pull out the old excel spreadsheet and map out what your loan repayment is going to look like after you graduate. (Estimates: 65K starting salary pre tax, 6.8% loan interest per year starting when you take them out, etc) Debt is scary- and the interest on that much debt is super scary. Make sure you know what you're getting yourself into. Typical financial advice says not to take out more than what you're going to make the first year after you graduate (so like 65k-ish total). This may not be possible for many of us, but taking out three times your estimated starting income sounds like a potentially bad life decision to me.

 

[astarblaze]

Anyone freaking out about how expensive tuition is (at most schools)? Private school costs is astronomical!! How much is the tuition for the schools that you are applying for? How do you intend on paying it?

Private school costs are INSANE. I lucked out and have a 60K tuition option right now. Turned down some programs that had significantly higher costs (110K-130K just for tuition in high cost of living areas) I'm still waiting to hear back from programs with tuitions ranging from 50K-100K. I'll be paying in loans, and planning to live as cheaply as possible for the next 5-10 years. Wish I had 50K tucked away in a bank somewhere that I could pull out just about now... 😉 Or a wealthy working spouse.... Alas, no such luck.

 

[jblil]

pull out the old excel spreadsheet and map out what your loan repayment is going to look like after you graduate. (Estimates: 65K starting salary pre tax, 6.8% loan interest per year starting when you take them out, etc)

Excellent advice. And do not forget to account for taxes in your Excel spreadsheet. If you're single and making $65K, the IRS will want its pound of flesh.

 

[beyoutiful_sunshine]

Out of curiosity, which states do you guys live in?

I'm just so shocked at all the numbers I see here. I applied to state schools in Texas and tuition ranged from $32-$45k for the 3 years for instate tuition. TWU, which is one of our most highly ranked schools costs $35,700.
Why the disparity between Texas and other states? Does anybody know?

 

[Cheezy89]

Out of curiosity, which states do you guys live in?

I'm just so shocked at all the numbers I see here. I applied to state schools in Texas and tuition ranged from $32-$45k for the 3 years for instate tuition. TWU, which is one of our most highly ranked schools costs $35,700.
Why the disparity between Texas and other states? Does anybody know?

Wow You're paying $32-$45G, that's crazy cheap. MGH is like 120K and even with a scholarship it is still too much. I had to move back to my parents to reduce my expense given Boston rent is exorbitant as well. Student loan is my only option unless somebody else knows an alternative.

 

[gotaspirations]

180K for just tuition??! If you're planning on taking out that much or more in loans, I'd highly suggest you pull out the old excel spreadsheet and map out what your loan repayment is going to look like after you graduate. (Estimates: 65K starting salary pre tax, 6.8% loan interest per year starting when you take them out, etc) Debt is scary- and the interest on that much debt is super scary. Make sure you know what you're getting yourself into. Typical financial advice says not to take out more than what you're going to make the first year after you graduate (so like 65k-ish total). This may not be possible for many of us, but taking out three times your estimated starting income sounds like a potentially bad life decision to me.

\
The 180k accounts for the maximum out of pocket (I hope) including housing at 600/mo for 3 years. I don't have to take out all loans for the entire amount but I still wanted to contribute to my roth-IRA account 🙁

 

[astarblaze]

\
The 180k accounts for the maximum out of pocket (I hope) including housing at 600/mo for 3 years. I don't have to take out all loans for the entire amount but I still wanted to contribute to my roth-IRA account 🙁

Ah- I see. I'm not a financial advisor nor do I have special financial knowledge, so take this advice accordingly. I believe it wouldn't make sense to contribute to an IRA account while you're taking out student loans, unless your IRA is giving you 8+% annual interest, (considering you'll likely be paying 6.8% interest plus >1% origination fee for the loans). If your IRA IS in fact accruing interest at that rate, please tell me where you bank so I can sign up!!!

 

[Cheezy89]

Ah- I see. I'm not a financial advisor nor do I have special financial knowledge, so take this advice accordingly. I believe it wouldn't make sense to contribute to an IRA account while you're taking out student loans, unless your IRA is giving you 8+% annual interest, (considering you'll likely be paying 6.8% interest plus >1% origination fee for the loans). If your IRA IS in fact accruing interest at that rate, please tell me where you bank so I can sign up!!!

isn't it illegal to use the loan for your IRA contribution?

 

[gotaspirations]

Ah- I see. I'm not a financial advisor nor do I have special financial knowledge, so take this advice accordingly. I believe it wouldn't make sense to contribute to an IRA account while you're taking out student loans, unless your IRA is giving you 8+% annual interest, (considering you'll likely be paying 6.8% interest plus >1% origination fee for the loans). If your IRA IS in fact accruing interest at that rate, please tell me where you bank so I can sign up!!!

No, no. I wouldn't use any loans to contribute to my IRA. (Not sure if that is legal/not). I would like the money I had to contribute to it though :\

 

[astarblaze]

No, no. I wouldn't use any loans to contribute to my IRA. (Not sure if that is legal/not). I would like the money I had to contribute to it though :\

Regardless, money that you're putting towards an IRA could be used instead to pay for tuition or living expenses and therefore allow you to take out less loans.

 

[astarblaze]

Another resource I've heard talk of is the Public Service Loan Forgiveness program. You work for a govt or nonprofit agency, make monthly loan payments for 10 years, and then the remainder of your debt is forgiven: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service

Could be a good option if you're taking out 180K in loans. The monthly payments can be income-based, so as low as 10% of your income