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Student Loan Debt

Discussion in 'Physical Therapy' started by yapupt66, 01.14.14.

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  1. yapupt66

    yapupt66

    Joined:
    01.14.14
    Messages:
    1
    Status:
    Rehab Sci Student
    I am currently making decisions on where to attend PT school next year and I am having some difficulty deciding because a few different schools have already accepted me. A big factor that I am obviously considering is tuition. I have an option for an in-state school that will be much more affordable (but I am not exactly crazy about the program there). Meanwhile I have another option which I believe is a better school, but the total tuition is nearly twice as much. So for those of you currently practicing in the field, I want to know how much of a burden is it to carry around that student loan debt? And is it really worth it to take on the extra financial load when both schools will ultimately award the same degree? Thanks
     
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  3. DPTErudition

    DPTErudition The One & Only 7+ Year Member

    Joined:
    03.02.09
    Messages:
    110
    Location:
    Dallas, Tx
    Status:
    Physical Therapist

    use the forum search function, but until then always go with the least expensive school.
     
  4. markelmarcel

    markelmarcel 5+ Year Member

    Joined:
    12.17.09
    Messages:
    1,109
    Status:
    DPT / OTD
    I'm definitely glad I chose the more cost-efficient school out of the ones I was accepted to... that being said, I was also very interested in their curriculum and felt it was a very good fit for me. But, now that I'm graduated and staring down almost 75k of loans that is only going to increase with interest makes me feel a little ill. To pay it off in ten years the monthly payment is almost $900- which is more than my SO and I pay for our house on a monthly basis (almost including all of our utilities/shared bills)! That's just crazy, and I'm opting for a longer term loan so that I can pay ~$520 a month, which seems a little more doable.
     
  5. DesertPT

    DesertPT ` 2+ Year Member

    Joined:
    04.22.13
    Messages:
    2,570
    Status:
    Physical Therapy Student
    Choose the cheapest school you are accepted to. Keep in mind the relative cost of living in the area of each school. Chances are good that once you were attending the school that seems more interesting to you now (but is twice as expensive) for a few semesters, you will regret having taken on twice as much debt as you had to.
     

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