Student loans? How the fuck are we paying for this?
I am a current first year student in a relatively expensive (32k per year, 2.5 years) program that prepares me for LMFT and PCC licensure. Most of the people in my program either come from other careers that they are using to fund their time in school, or have family support. Some of us are taking out loans to pay for the whole thing. 100k. I just met a women who graduated from my program in her late 50s who took out loans to pay for it. I know at least 4 people who took out loans to pay for the whole program and seem fine with it. One PP clinician told me she thinks of them as a business expense, another recent grad told me he just pays the minimum on an income driven plan and doesn't think about it. I am not one of those people.
I graduated from my undergrad two years ago and have been living paycheck to paycheck working in SUD treatment ever since. I could have been better at saving and regret not learning to budget and invest earlier but I digress. This is work I have been wanting to do most of my life, I am genuinely good at it. But I am terrified of the loan balance and the reality of being very poorly compensated for the next 5ish years until I am licensed. I feel like I have to withdraw due to the unaffordability. I know that if things worked out PERFECTLY I could swing it, but I have no faith in the world at this point Some people in my life are encouraging me to keep going and assure me that I will be successful, others are more in tune with the reality of that high of a balance.
I would love to hear others relationships to their loans, money in general, and being broke in the early years of this career.
edit: when I started the program I had very inexpensive housing, which has changed, and my current employer offered a payed practicum, which they discontinued this December. These factors were making it financially feasible and would have lowered my loan balance.