PT debt leaving school numbers
Started by jeep69
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my debt was around 120 K after graduation including accumulated interest (took money for tuition only). Private school. I picked the lowest payment plan and have to pay minimum of around $500/month for 20 years. I believe this amount will go up to $800-900 /month or so a few years down the road. It is a big debt, but most PTs will be able to manage to pay $500/month I believe.
theheartyroots
Full Member
I am happy to share my debt amount and my journey to being debt free. We need to openly talk about how being a PT is honestly not as appealing anymore because how expensive the degree is.
I had accumulated 20k debt from undergrad (thank God for scholarships) and then my remainder of debt is from PT school, which is about 85k. I agree with the comment above, in which if you go upwards of 150k+ of student loan debt, this job better be your passion, and not an expected money maker. I honestly am thinking to pursue other professions IN ADDITION to being a PT because our projected salary is slow rising, and is pretty much capped if you don't being an owner or admin.
I actually quit my perm job recently because I couldn't stand having 125k debt over my shoulders. I am refusing to pay it off like how "normal people" do it, over the course of 10 years. I am actually writing about my debt free journey as a semi new grad on my blog (theheartyroots). Hope this information helps! Good luck!!
I had accumulated 20k debt from undergrad (thank God for scholarships) and then my remainder of debt is from PT school, which is about 85k. I agree with the comment above, in which if you go upwards of 150k+ of student loan debt, this job better be your passion, and not an expected money maker. I honestly am thinking to pursue other professions IN ADDITION to being a PT because our projected salary is slow rising, and is pretty much capped if you don't being an owner or admin.
I actually quit my perm job recently because I couldn't stand having 125k debt over my shoulders. I am refusing to pay it off like how "normal people" do it, over the course of 10 years. I am actually writing about my debt free journey as a semi new grad on my blog (theheartyroots). Hope this information helps! Good luck!!
When I was looking at school, I did a ton of calculations on this...looked at our bills, tuition cost, loan repayment, opportunity cost (how much did I NOT make by going to school all those years), differences in salary between current job and job as a PT. In my area, average starting salary is probably more like 60 to 65K. It's really NOT worth it to take on a ton of debt for this job. In some cases you will actually make "less" than what you could with a bachelors degree (considering salary and then loan repayment). In the end, we set our number at 80K MAX of debt or it just wasn't worth it to pursue.
