Internship was a Tough Year
I just moved to a new state for internship. My husband left his job to move with me. When we arrived I found out that I was pregnant (panic!). After 5 years of graduate school, would I be able to graduate? How would I pay the medical bills? We had no family nearby – who would help with the baby? Continue reading The Debt Shrink’s Story
Post-doc can be one of the most financially challenging times in your life. You’ll be making more money than in grad school, but not as much as a staff position. Student loan payments start six months after graduation and you will have a number of other expenses as you start your career.
Continue reading Budgeting for Post-Doc and Early Career
An estimated 79% of psychologists have student loans from graduate school and 69% of early career psychologists were not taking part in a loan forgiveness or repayment program. With their current payment plans, it would take nearly half of them (46%) more than 17 years to pay off their loans (Doran et al., 2016).
Continue reading Student Loan Repayment
A survey of grad students and early-career psychologists by Doran and colleagues (2016) found that 43.1% of respondents had undergraduate student loan debt and 78.7% accrued graduate school debt. Of the graduate students in the sample, their expected total (undergrad and grad school) median debt was $120,000.
Continue reading Student Loan Debt for Psychologists: PhD vs. PsyD
In a survey of how much money psychologists make from the American Psychological Association of Graduate Students (APAGS) 2014 Debt Study ,the median salary from 2010-2014 was $65,000 for PhDs and $60,000 for PsyDs (excluding post-docs). Continue reading How Much Money do Psychologists Make?