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2 hours ago, GetMeOuttaThisMess said:

Why even apply if you already know that it is too expensive?  It doesn't matter if you get accepted or not if it is cost prohibitive.

Because at first I was just applying to apply just desperate to get in anywhere without looking at prices. Now that I actually have a chance lol I am starting to really look into tuition and adding up numbers. 

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7 minutes ago, Nlimo said:

About $180,000 😕

Yea that's honestly insane.

Is that just tuition, or does that factor in all fees and cost of living expenses as well? Either way, taking on $180K of student loan debt for a career with a median salary of $105K is not a great return on investment; it's definitely possible to pay that off, but it would be a significant burden for many years.

Running some quick numbers with a loan payment calculator, paying off $180K at the current Grad PLUS interest rate of 7.08% over a 10 year period would cost you about $2,097 per month (over $25K per year); you'd pay about $71,685 in interest alone over the 10 years for a total of over $251,685 when it's all said and done. This is a very rough estimate, but you get the idea. 

When there are literally dozens of programs with tuition well under half of that cost, I just don't think I'd be able to bring myself to take on that kind of loan burden for PA school. 

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Some more quick math, you are going to be making $4-5 million in your lifetime if you are under 30. You will spend a longer time repaying your loan but it wont matter, PA school is worth a lot more than the cost of tuition. Only a fool would base their decision to attend a school solely on cost especially if you are already accepted.

I only have 25 more years of work left and I would pay twice that amount.

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1 hour ago, DomRRTtoPA said:

I only have 25 more years of work left and I would pay twice that amount.

I never said that cost should be the sole factor in choosing a PA school, but only a fool would discount cost completely simply because they're going to make a good salary as a PA.

The tuition listed by the OP easily puts that school in the top 1-2% most expensive PA schools, so it should definitely be a factor in their decision. Especially when the average cost for PA tuition is well under half that, and there are over 200 schools (out of 250 programs total) that are under $100K. Just because you would pay twice that amount to go to PA school doesn't mean it's good advice to give others. That's med-school level debt without the physician salary to go with it. 

Time and again pre-PA students ask the tuition question and invariably get advice from some posters to not worry about cost, or to attend the most "prestigious" school they get into. But then there are the posts from PAs who did exactly that and now regret that decision, and state that given the option to choose again they would pick a cheaper school. Yes it's anecdotal, but it should still make you think. 

I don't know if the OP has any other options for PA school right now, and I guess I was phrasing my above post as if they did have other options/acceptances. If this is their only acceptance, then maybe it would be worth it to them, but they should still think very carefully before attending one of the most expensive programs in the country. 

Edited by ProSpectre
Wording and such
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It might be a little too easy to give bad advice to someone on what they should be doing when you already have what they want. Imagine if the NCCPA required $100,000 for you to upkeep your credentials next year, you wouldnt be happy about that but certainly you would divvy up. It is pretty much the same situation, the ROI is simply too high to not pay any reasonable amount to get (or keep) those credentials. Reasonable is a funny word, it is relative. In relation to the earning potential of a PA, tuition of $250,000 is very reasonable. Relative to the cost of other PA schools, a tuition of $250,000 may seem very unreasonable. From a purely financial standpoint any cost/benefit analysis would tell you to take the opportunity of going to PA school regardless of the cost. So I will stick to my original statement, "only a fool would base their decision to attend a school solely on cost especially if you are already accepted."

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On 12/18/2019 at 12:14 PM, Nlimo said:

Has anyone turned down a school because the price of the school was just too much? If I get in to one school but the price is high would it be bad to deny it and apply to "cheaper" schools?

You’re being level headed. It is very important to factor in the cost of school. If someone else is paying for PA school or you have lots of money saved up to cover the cost of tuition in cash, it matters less. But if you’re considering debt, it is very wise to set a hard limit on how much you’re willing to accrue. In my opinion it does NOT make sense to take out a high level of debt (eg over 75-100k) for any type of schooling. A PA career is not especially lucrative. It’s stable and respectable but definitely not worth being a slave to a student loan servicer for multiple years of your life. Take into consideration the risk that a high level of debt imposes on your life, the associated stress, and the opportunity cost that comes with the time and money invested in school.  

I paid 101k for school + living expenses. If I had the option now to do it over again for 180k, I would turn down PA school acceptance and either keep applying or find another career. You’re smart. You have options. Your earning potential is high because you’re sharp and energetic and willing to work hard. You can make much more money in many other fields besides medicine, and you don’t need to take out crippling debt to make a great living and be fulfilled at work.

If you’re focused on being a PA: Pick the cheapest school you can, even if it’s in a state that’s not fun or with facilities that are not flashy. Try not to pay more than a year’s worth of salary for tuition/living expenses (no more than 100k total for PA degree and living costs). Pay it back ASAP within 2-4 years of graduating if you end up with loans.

Good luck, my friend. 

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The cost of PA school today is crazy. My tuition was 30k total back in the day. If someone had told me it was > 100k I would have applied to my state medical school instead at a much lower cost and a higher ROI. 

To the OPs point, however, if you want to be a PA and have only one acceptance you have only one choice. Think about the cost of NOT taking that acceptance....at least one year of lost income, assuming you get in the next year, which is not guaranteed in any way....

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On 12/18/2019 at 12:14 PM, Nlimo said:

Has anyone turned down a school because the price of the school was just too much? If I get in to one school but the price is high would it be bad to deny it and apply to "cheaper" schools?

Back in the 80's I only applied to schools in areas that a married student with 2 young children could afford to live in reasonably priced housing in" good" neighborhoods. My PA School cost would be covered by VA Voc Rehab so tuition wasn't a factor. My wife had a job near Seattle,  I was stationed in Tacoma with family nearby, a good apartment could be had for $400.00 a month, so MEDEX/NW was my #1 choice. It is wise to weigh many factors in choosing where to attend school.

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On 12/31/2019 at 4:25 PM, seekingtruths said:

You can make much more money in many other fields besides medicine, and you don’t need to take out crippling debt to make a great living and be fulfilled at work.

As someone who is older and still have years before taking the leap and accruing much more debt, what other careers might you be referring to? lol

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