Why Physical Therapists are BROKE 

but dont become too comfortable living at home many people fall into that trap

@@steve00alt70 I think its very hard to become "comfortable" living at home when your debt is paid off and you are making 80k+ and could totally live on your own if you wished to.

Awesome parents, got my DPT and paid it off in a year. Then spent 4 years at parents, put off the whole "live independent," invested into a bunch of tech, and bought a lot, built a house...saved a ton of money. It works just keep the ball running, 39 years old, don't need to move fast...move smart then fast. ;) hope this helps

you probably dont care but does someone know a trick to get back into an Instagram account?? I stupidly forgot the login password. I appreciate any assistance you can give me

@@rifraf1717 exactly my position. Got great debt relief already, got into extremely cheap school, gonna do travel as long as possible until switching to private practice and hoping to find the right people to work with. The problem with pt isn't necessarily ROI, its the simple fact that a lot of people in PT are horrible with their money. I.e insta buying a house with shitty rates, having kids way too early, no willing to do higher paying specialties because it "sucks", etc. Anyone reading this just open up an excel sheet and ball park all your costs WITH taxes/interest. I'm not saying its gonna make you a billionaire, but its not bad in comparison to getting a marketing degree or something.

Still to broke

I agree..im a Registered Therapist and i unequivocally agree!!!!

Such a complicated economic education system

Umm no, PT’s schools require a lot more than that. Your first semester is working with cadavers for gross anatomy and requires a lot of equipment for just that.

Jessica Dolan what’s your point lol cadavers are normally DONATED. Also Med school also has cadavers and because of their class size they have more cadavers. What’s one semester anyway it still does not justify the debt income we make on average.

Did you do it?

Who school did you go to?

Wats PRN

U are lying

Working as PTA $42/hr, PRN status but doing 32-40hrs/week... $64,500-$80,500 a yr. Then do HH $60/hr 1-2 days per week, seeing around 5-8 pts/wk for $14,400-$23,000. Total of $78,900-$103,500...

​@@DiscordserverssNop, its totally possible deoending on setting... UCSD is paying $45-50hr for PTA, and SNF around $42-44hr, OP $36-42...

Hey same here!

I am a senior as well. What are you planning to have as your major?

Neha Jose usually the most correlated major to become a physical therapist is Kinesiology Exercise Science (there are different types of kinesiology for a major; this specific one applies to physical therapy) which is only offered at community colleges and cal states (I live in California) which saves more money because going to a UC would require a different major less correlated which in turn means more classes, money, and time needed.

Hi @shadi reisinger after failing do you have to pay again to re do the pt program once again??

I struggled to maintain working 3 jobs while doing my undergrad, so I don’t think I have the precise answer you’re looking for, but if you fail a course, in general, you’ll have to pay to take it again and there’s a limit to how many opportunities you have to pass the course which is dependent on the institution you are attending. So, I believe the answer to your question is yes, however, as someone who is not in a grad program yet, I’m not the best person to ask about that particular level. I hope that helps.

Whoa cool another PT school youtuber! I'm subbing to you! It's so hard to find people other than LiftForChange and Ruben Cabre. Good luck on your journey. I'm considering uploading videos when I get accepted into PT school so I can share my journey too

lol

Great, how's your program going there?

Whats an "affordable" school tuiton?

Graduated in 2016 from PT school. Interest rates are stupid high and have been for a while despite the low interest rate environment. It's crazy to me why student loan interest rates (federal rates) aren't tied to the Fed Funds rate...but that would mean less revenue so..

Jasia, if you haven't already, check out Physical Therapy Technician as an HM. I tried it, but I wasn't sure if it would transfer to civilian employment, Instead, I'm using the GI bill now for PTA school, and it's incredible.

Hi Marla! Congrats on your acceptance to a state school! According to their website, the annual tuition and fees for the DPT program is currently $22,721.72 for an in-state student and $31,961.72 for a student categorized as a non-Florida resident. So it IS possible to attend a state school and graduate with less than $75k in student loans, which should be manageable on a PTs salary. Even better if you can save 5-10k from now until school starts to help with living expenses so you don’t have to rely on student loans to live on. You’ll be glad you worked hard now and saved where you can because paying down $75,000 in grad student loans is still a challenging task on a PT salary. Again, congrats and stick around for more tips on how to avoid being one of those broke PTs ;)

Hey Marla! Congrats on your acceptance! I can totally relate and It's good you're seeing this content now. Plenty of time to make plans to cover the cost. If you're interested in preparing for your first year, swing by our channel. We just launched and we're working on teaching the hardest concepts we learned during PT school! David and Ken

Congrats!!! I’m a UF undergrad, you’ll love it here :) Go gators!

UF is a solid school congrats!!!

Future UF applicant here (applying next sunmer) congrats on the acceptance! Any tips for applying to it?

A dog kids a house car. That sounds like a cog in the machine type of thing everybody is doing that. I for one wont be doing any of tht

You’re welcome :) thanks for watching

Hey Kevin! Glad you found the video to be helpful. If you have any other questions, ask away! I’d be happy to see if I can make a video answering your questions. -Tim

PTProgress have you ever consider joining a military branch so they pay for pt school? Do you know any information about that? Is it worth it?

Good Question Kevin! The program at Baylor is one of the best options for this. With the rising cost of school, I think it’s a great thing to consider but shouldn’t be your sole reason for going military. You are making a commitment that affects so many people and aspects of your life beyond loan forgiveness. If you are not 100% sure about serving in the military, then I would not recommend it just for loan forgiveness. If your primary concern is the cost of school, find an affordable state program and finish your DPT with less than 75k in loans and you’ll do alright.

PTProgress thanks for replying to me. I have always wanted to serve in the military but once I got older I decided that becoming a Physical Therapist was perfect for me. I live in Utah, we only have one school with a pt program. It’s the University of Utah

Kevin Diaz I think it’s worth looking into. I have a colleague who went to Baylor and served in Iraq for a long time and said it was the best work she’s ever done as a PT. If you approach it with the right attitude and mentality of serving others, I think it’s something you should look into. There are ways to join the military after graduating from any program and even serving as a civilian PT. Either way, I think if you’re serious about going military, try for Baylor and if you don’t get into Baylor, try for a state school and go military after graduation.

I have a few questions about Physical therapy career. What prerequisites can I take to get a head start in highschool

What is DPT??

@@SnowStop Doctorate of physical therapy

i didn’t know that about APTA. thanks for letting me know. i thought they just fail to lobby for Us

Hey Lori! Thanks for your comment - I think more students need to know that smart people like you are making the tough decision to decline the acceptance to expensive PT schools because the return on investment may not be worth it. But your analysis is spot on. Financially it would have been a bad call to accrue so much debt for less pay. Yes, PT is a career that can be fulfilling when you help people recover from pain/injuries. But with every pro there’s a con. I’ll be publishing a video on that soon. Lori, don’t sell yourself short on your ability to help others in your current career either. Whether you’re a financial analyst, an engineer, a banker, or a PT, you can help others with the work you do in a way that only you can :)

Now that im 20 years old pursuing in PT, reading this I can start to see and understanding this whole mess involving debt and living paycheck by paycheck. Thank you for sharing, I'm sure ill be making smart and wise decisions later in the future years ahead 🙏

Kevin Maniebo I’m a senior in high school, are you still going to become a PT?

@@PTProgress really enjoyed that answer!

Inspired you to do what? lol

Hi

Hey! I’m also halfway through my BS in psychology. I came in as pre-med but started considering PT. Have your thoughts changed since you wrote this,

@@marionboyani Hi! Cool! I’ve actually stuck with biology and am currently still focusing on a biology degree. I landed a position at a great company called Alcon. They really tie into what my passions are and my family has worked with them for decades. My scope definitely changed towards a more lab/microbiology direction. However if things hadn’t happened the way they did this would still be my next career choice. :)

As a student going into their second year at Emory's program, I totally agree with this. Student loan burden makes PT school less enjoyable as well. Loans and debt are always a thought in the back of your mind, even as a student.

How much is your debt

Dont they forgive federal loans after paying 20 yrs ? Why not just be on home income payoff option ,which is the minimum payment . And after 20 yrs it will be forgiven . *but do have to pay taxes off the entire amount you are being forgiven !

Damnn I go there now and was looking to do the DPT program. Would like to know what drew you to that point.

I've been in the military over 17 years and they have a great debt pay off whole serving. And you'll be a vet once you finish your service. Not bad😀

Thanks!

Gladys Bunquin-Non Hi ma’am! I came across your comment and I’m Filipino BSPT graduate who just recently passed Philippine Licensure examinations. I’m still contemplating what to do next but my goal is to work in US and pursue a tDPT degree. I’m planning to apply for credentialing this year while gaining experience in the PH setting and take the NPTE if my credentials get accepted by FBSPT. I just want to ask for any advice or suggestions?

lifestyle being a big one. most dont want to work over 40 hours a week. They want the 200k salary of a MD, but forget the MD's are working 60 hours a week on average. A PT could easily earn 130k working 60 hours a week.

@@shaunbiezel not to mention that MDs are in school for MUCH longer

Thanks for taking the time to watch and comment Ashley!

Another thing to consider is that ppl are having to work later in life bc they can't afford to retire, but that doesn't work well when you need a decent amount of strength as a PT.

Yep

The heart wants what the heart wants. It’s also the only way you’ll feel fulfilled doing your job! Follow your heart!!!

How is the program going?

Plus you get great experience and a different clinic every 3 years-ish.

May i ask what buisness you started as im really interesting in being a pt?

@@StrawBerryMix I started a wellness/performance/physical therapy business

Thanks for sharing Jeremiah. I appreciate you taking the time to share your thoughts here and also want to say thank you for your service to our country and to those in need, both in and out of our country.

Great job! You’re doing awesome and should have the rest paid off in a year or so! Nice work :)

Have u payed off all your loans and how old are you if you dont mind me asking. Im a freshman in college and wanna take a career in physical therapy.

@@irunfromcomp4865 I paid off my loans this year! I am 28. If its really what you want to do, do it the cheapest you can. Having 100k+ of student loan debt and salary that doesn't match is definitely a set back.

@@StefanieAnna thank you for the response! I really appreciate it

Excuse my typos!

It absolutely can make anyone feeling or actually broke! It’s advice anyone can use but since there are a lot of PTs and students following this channel, I try to make it relevant to the PT career when I can. :)

CarsWithFrank thanks!!

PTProgress student loan debt is exactly why I made the decision to go PTA instead of DPT. Due to the massive gap between salary and average income the PTA could expect to be well ahead of a dpt 10 years after school

Hi Madison! I’d seriously consider one of the Georgia state universities (like Georgia State) and keep the total cost of your PT education under 100,000...ideally under $75,000! Good luck with your search :)

Hey man, I graduate from PT school next year and will be in the same situation as you. Would you mind giving me a quick overview of your strategy to get out of debt? I’m way impressed that you’ve been able to pay your debt down so quickly. Obviously you don’t need to share anything personal, but I’d appreciate a basic outline and any recommendations.

@@kevincritchfield2003 Hey, the very first thing I did was become financially literate. I realized how much risk I'd be taking if I kept this student loan debt around. As a PT, you realize that any harm to your body can put your whole livelihood at risk, and I couldn't live with that thought in my mind knowing I had a $1,400 student loan payment every month. That realization was the catalyst that sparked this whole journey for me. So I worked and worked and worked. I've been working 6 days a week for almost 3 years now. There were a couple of times over the years where I worked 2 weeks straight just to get that extra bit of cash to throw at my student loans. Honestly, it would have taken me closer to 4-5 years to pay off my debt if it wasn't for the Student Loan Moratorium going on right now. So luck also played a factor into the speed that I was able to pay off my loans. If I were to start this journey over again, I'd honestly live with my parents longer to save on living expenses and throw even more money at it. I lived with them for the first year and a half out of school but I could've easily stayed another year. I'd be happy to talk more about this with you if you have more questions. This was definitely a long, lonely, and arduous journey. There were times where I questioned if what I was doing was right. I've even received backlash from people who were opting to do the income driven repayment plans and banking on the government to pay off their loans. But now that I'm seeing the light at the end of the tunnel, I'm glad I made the sacrifices to pay these loans off.

No reason to become a DPT financially if your going to become a PTA. Not a big difference in pay if your flexible or want to do administration. And it hurts less if you want to pivot later in your career!

Yes. I did that and im a PT now. But, some schools might scoff at your pre reqs being from a community college

I don’t see licensing authorities ever telling physios they can’t practice if they don’t have a DPT. Eventually all programs may become DPT, but there will still be masters and BSPT out there and they will be just as equipped to treat patients as new DPTs. As for taking a year or two off in order to reapply for the cheaper program, think about it in reverse. The difference in cost is $160k. Over a two year period, that averages out to 80k per year. PTs barely make 80k a year and that’s pre tax. The same student who waits 2 years and gets into the 40k school will be better off financially without a question. The student with 200k in debt will not be able to pay that off in 2 years on a PT salary, so there was no benefit for them to start earlier. I know it’s not all about the money, but the fact is that 200k program doesn’t accept tuition payments with hugs and good thoughts…they charge money. Those student loan payments of $1800/month for 10 years aren’t paid with warm fuzzy feelings. They will take up 40% of your paycheck. Think long and hard before taking out 200k in debt to earn 80k. It’s not a good financial move at all. Remember, you always have the option to not accept a seat at a program that costs 200k. No one is forcing you to go into that much debt.

​@@PTProgress Your videos as well as discussion with friends and family has convinced me to not go forward with Melbourne. I honestly felt absolutely sick about the debt and have barely slept the past few days. Several other students in my cohort are aware of my situation as I pretty much laid it all out. One student reached out and said that my family did have some very valid points and that the debt isn't worth the year or 2 to reapply at Canadian schools. What was surprising to me was that some of the other students either "didn't want to look at the cost" of the program or were "too scared to look." I personally feel like 200k in debt is like you said something I will struggle to ever crawl out under from on 70-85k a year once I get going.

Hey Justin! No I don’t think it would be a good financial move. I’m sure you’ll find people who could figure out a way to try to justify adding another 75-100k in debt (not to mention the loss of income you COULD earn during those 3 years). But the problem is that your PT salary of 70-80k is not enough to justify 200k+ in debt. You have a significant amount of debt right now that’s probably close to 3x the avg ATC salary. Idk your full financial situation but financially, you’d be wise to knock that $140k out and then continue to build your wealth without adding more debt (like 100k of grad school loans).

Great question! And congrats on the merit scholarship! To answer your question, the school you went to will have practically ZERO influence on whether or not you get the job. Going to a 'lesser' known school does not mean you have a 'lesser chance' of getting a job. I went to one of the "top ranked" PT schools but there are some people who haven't heard of the program. The key is to go to a program that you can afford - and by afford I mean one that doesn't cost more than the average PT salary (approximately 60-70k). If you can graduate PT school with less than 60k of debt, you'll be able to repay your loans fairly quickly with your salary if you live like a student for a couple of years. As for the military, it's a great option. But I encourage people to pursue it because they want to be a part of the military, not simply because they want free school. Best of luck and thanks for your comment!

I wouldn't count on the military to pay.. there is a need for PTs but not enough that they offer much or anything in they way of scholarship or tuition assistance. I currently serve Army reserve and when I was accepted to PT school they wouldnt help me with anything so I backed out of school. They may not even really want to talk to you until you have a license. If you are interested in PA programs, I do know the military does assist with that. It's a 2 year masters and you'll make a lot more than a PT. Good luck!

Once licensed, the military is an exceptional way to ease or erase student loan debt. Things to consider however... you may be sent somewhere you dislike and you don’t get a choice. When you sign the line you’re on rear with the gear... where ever they need/want to send you. If you are married and have a family that’s difficult. You have full privileges there though that the civilian world doesn’t get... ability to order xrays/imaging etc. Tim is correct it doesn’t matter which school you go to (if it’s accredited -some aren’t) unless you want a special fellowship, then it’s more networking and who ya know and what school etc. Good luck with your endeavors.

@boolianbeledio i think there’s really great advice in this video. The goal is to keep your student loans to a minimum in order to actually make money on the other side. It is a great career other than the tremendous debt most of us have 😂

@@nataliedaddieco I’m a 30 year old who just got accepted into Wash U PT program and I’m on the fence. Would you recommend just waiting a year and reapplying to state schools?

@@BigWolsky i think everyone’s circumstance is different, if that is the only place you have the option of going then go. I just regret the amount of debt i put myself into going to private school when i was accepted to public programs

@@nataliedaddieco was public forgiveness loan not possible with you? Did a lot of your classmates do that?

Misread your first part. What is the downside of the loan forgiveness, does it cost more in the end?

If you can get it paid for 100% and you’re willing to put in 3 years of hard work studying to become a PT, I think it could be worth it. You definitely want to shadow a PT for at least 100 hours to make sure it’s a career you want to dedicate 2,000 hours a year to!

Hi Ripon - thanks for your comment! Because the work of a PT and a physician are very different. I don't think the jobs should demand the same salary. But I also don't think the tuition for PT school needs to be so high. Until students stop paying the tuition, the schools will keep charging the high rates. The APTA isn't going to do anything about it - they have no control of this stuff.

Please help me out

Chiro school is insanely expensive. Many chiros make less than PTs unless they own a clinic. Personally, I'd go PT again 100% of the time vs. chiro.