Okay maybe $100k in student loans is not that bad...Is this really the starting pay??

[LESH]

Maverick87, Where in CA are you practicing? I am also a NY transplant out here in the San Joaquin Valley. Big difference from NY!

LOL!!! Hi jts. I bet huh? When I read your post I thought about (and Im going to date myself so the reference may not mean anything to anyone) a 70s TV show called "Green Arces"....

[LESH]

Maverick87, Where in CA are you practicing? I am also a NY transplant out here in the San Joaquin Valley. Big difference from NY!

LOL!!! Hi jts. I bet huh? When I read your post I thought about (and Im going to date myself so the reference may not mean anything to anyone) a 70s TV show called "Green Arces"....

[jmj11]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

[jmj11]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

[jmj11]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

[coastalPA]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

 

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

[coastalPA]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

 

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

[coastalPA]

Can someone do the math for me. I know I'm from a different era but I graduated without owing a penny. This was by working for two years between undergrad and college and saving every penny. However, I did just send 5 kids though college and am in touch with more current college cost. I'm just trying to understand how PA school (two years) racks up 120K. For what? How much of that is tuition? What is the other for?

 

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

[thebrown88]

FIRST thing you can do to prevent these issues in the future is tell your PA schools to STOP EXPANDING ENROLLMENT and petition AAPA PAEA to do what they can to prevent new programs from popping up. Someone SHOULD NOT MAKE under 80K a year for practicing medicine and billing for the most part at identical rates to physicians unless the profession is being guided without guidance. I am willing to bet 5K with anyone on this board that the PA market in ten years does not have much salary increase from today and that RNs are making just under PAs. We are about to SATURATE the market with PAs and look at evidence from Mass ... this healthcare reform is not about to flood the doctors office.

 

Yes!!! I glad someone realizes this.

[thebrown88]

FIRST thing you can do to prevent these issues in the future is tell your PA schools to STOP EXPANDING ENROLLMENT and petition AAPA PAEA to do what they can to prevent new programs from popping up. Someone SHOULD NOT MAKE under 80K a year for practicing medicine and billing for the most part at identical rates to physicians unless the profession is being guided without guidance. I am willing to bet 5K with anyone on this board that the PA market in ten years does not have much salary increase from today and that RNs are making just under PAs. We are about to SATURATE the market with PAs and look at evidence from Mass ... this healthcare reform is not about to flood the doctors office.

 

Yes!!! I glad someone realizes this.

[thebrown88]

FIRST thing you can do to prevent these issues in the future is tell your PA schools to STOP EXPANDING ENROLLMENT and petition AAPA PAEA to do what they can to prevent new programs from popping up. Someone SHOULD NOT MAKE under 80K a year for practicing medicine and billing for the most part at identical rates to physicians unless the profession is being guided without guidance. I am willing to bet 5K with anyone on this board that the PA market in ten years does not have much salary increase from today and that RNs are making just under PAs. We are about to SATURATE the market with PAs and look at evidence from Mass ... this healthcare reform is not about to flood the doctors office.

 

Yes!!! I glad someone realizes this.

[Maverick87]

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

 

Wait....you've been paying your loan back with $770/month for 4 years and only knocked $3000 off of the principle? :O

[Maverick87]

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

 

Wait....you've been paying your loan back with $770/month for 4 years and only knocked $3000 off of the principle? :O

[Maverick87]

jmj11, 90K-120K is considered the norm. When I graduated, I owed 112K for a 3 year PA program and now owe 109K after 4 years. The following may be TMI but just in case you wanted to see the breakdown :about 51K at 7.5% interest (graduate plus loan), 18K at 2.39%, 23K at 3.75%, 20K at 4.8%. (No undergrad debt included in this). This was the cost of tuition and meager living expenses (just to cover the necessities: rent/food/gas/utilities). I saved money by buying used books online. I also worked part-time in my clinical year by attending estate sales on the weekends and selling antiques on ebay (these extra funds paid for utility bill and gas). A friend who was able to live with her parents during the first two years of PA school graduated with 90K and another graduated with 120K. I pay $770/mo (minimum payment).

 

New grads make about 74-78K/year in PC, 2-4 years experience: 80K-84K/year. UC $45-$50/hour with 2+ years experience. Hope this helps.

 

Wait....you've been paying your loan back with $770/month for 4 years and only knocked $3000 off of the principle? :O

[DoTheEvolution]

yeah I can believe $34-45 in SE Virginia (I know it's that in Chicago...have a friend out there who just graduated) But I was thinking CA would be much higher simply because of the cost of living. If PA's are only making $50 an hour in CA then the best thing for me to do is just continue on to my BSN where I know for a fact I can make $34-$45/hr with 1/3 of the student loans.

 

$45/h in CA after taxes is like 61k a year or $5k a month after student loans of $1600 a month that would leave me about $3400 a month...I would starve to death in Los Angeles with a child, daycare, rent, car lol. How the heck are people doing it.

 

I'm seeing fuzzy math here. Only $61,000 take home? If you are making $45/hour, that's $93,600 a year based on a 40-hour work week. I bet, filing taxes during years with kids and after-care, your ETR and state tax won't come close to 20 percent, and will be way, way less than that if you happen to own a home, after deductions and credits are applied. You'd be closer to $70,000+ in take-home pay. W/2 kids, one in daycare, and a mortgage here, my family's ETR this year was 3 freakin' percent. Your fuzzy math is jading your perspective here.

 

And it's my strong opinion some people care too much in a school's purported reputation and overpay for it. Examine the program's first-time PANCE pass percentages, and you'll see little difference from a 'top-tier' program and a 'mid-tier' program. Focus on how well of a job a program does in preparing you for the PANCE first, then what else it offers, then cost. That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane. No program I'm considering in my region will cost more than $86,000, and that program is at a private school and is a back burner option because of cost alone.

[DoTheEvolution]

yeah I can believe $34-45 in SE Virginia (I know it's that in Chicago...have a friend out there who just graduated) But I was thinking CA would be much higher simply because of the cost of living. If PA's are only making $50 an hour in CA then the best thing for me to do is just continue on to my BSN where I know for a fact I can make $34-$45/hr with 1/3 of the student loans.

 

$45/h in CA after taxes is like 61k a year or $5k a month after student loans of $1600 a month that would leave me about $3400 a month...I would starve to death in Los Angeles with a child, daycare, rent, car lol. How the heck are people doing it.

 

I'm seeing fuzzy math here. Only $61,000 take home? If you are making $45/hour, that's $93,600 a year based on a 40-hour work week. I bet, filing taxes during years with kids and after-care, your ETR and state tax won't come close to 20 percent, and will be way, way less than that if you happen to own a home, after deductions and credits are applied. You'd be closer to $70,000+ in take-home pay. W/2 kids, one in daycare, and a mortgage here, my family's ETR this year was 3 freakin' percent. Your fuzzy math is jading your perspective here.

 

And it's my strong opinion some people care too much in a school's purported reputation and overpay for it. Examine the program's first-time PANCE pass percentages, and you'll see little difference from a 'top-tier' program and a 'mid-tier' program. Focus on how well of a job a program does in preparing you for the PANCE first, then what else it offers, then cost. That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane. No program I'm considering in my region will cost more than $86,000, and that program is at a private school and is a back burner option because of cost alone.

[DoTheEvolution]

yeah I can believe $34-45 in SE Virginia (I know it's that in Chicago...have a friend out there who just graduated) But I was thinking CA would be much higher simply because of the cost of living. If PA's are only making $50 an hour in CA then the best thing for me to do is just continue on to my BSN where I know for a fact I can make $34-$45/hr with 1/3 of the student loans.

 

$45/h in CA after taxes is like 61k a year or $5k a month after student loans of $1600 a month that would leave me about $3400 a month...I would starve to death in Los Angeles with a child, daycare, rent, car lol. How the heck are people doing it.

 

I'm seeing fuzzy math here. Only $61,000 take home? If you are making $45/hour, that's $93,600 a year based on a 40-hour work week. I bet, filing taxes during years with kids and after-care, your ETR and state tax won't come close to 20 percent, and will be way, way less than that if you happen to own a home, after deductions and credits are applied. You'd be closer to $70,000+ in take-home pay. W/2 kids, one in daycare, and a mortgage here, my family's ETR this year was 3 freakin' percent. Your fuzzy math is jading your perspective here.

 

And it's my strong opinion some people care too much in a school's purported reputation and overpay for it. Examine the program's first-time PANCE pass percentages, and you'll see little difference from a 'top-tier' program and a 'mid-tier' program. Focus on how well of a job a program does in preparing you for the PANCE first, then what else it offers, then cost. That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane. No program I'm considering in my region will cost more than $86,000, and that program is at a private school and is a back burner option because of cost alone.

[sartort]

JMJ- My program's 2012-2013 loan package for a standard situation (I'm assuming single, no kids, like me) was 70k per year. The program is 26 months, so that comes out to over 150k. The expenses for ONE year: 40k+ for tuition and fees (not a private school but no discount for in-state either), room and board estimated about 15k, books and supplies (including software, internet access, smartphone monthly access, etc) at 8500, transportation expenses (car payment/insurance/gas/maintenance/DMV fees at 3300, Personal expenses at 1,750, Loan Fees at $100. That's roughly 70k per year or 151k for 26 months. Then you have to take into account that the stafford loan only gives you 20,500 per year at 1.05% fees and 6.8% interest rate that accumulates WHILE WE ARE IN SCHOOL. New students don't get the subsidized loans anymore because of the recent budget cuts. The rest of your yearly expenses are with Grad PLUS loans at 4% fees and 7.9% interest rates, also accumulating while in school. In addition to the 150k you take out for expenses (assuming you have no family obligations to pay for) you also acquire probably 15k or so in interest/fees in addition to pay off. People who have significant others who can help with expenses have a huge benefit to lower costs, but those who don't will be around that number and students who have to pay for kids expenses during that time will have even more debt. Sure you could attempt to live more frugally but that 15k covers food, rent, utilities in a fairly big city for a year. If you are lucky enough to have a little left over at the end of the term you could attempt to pay on some of that interest, but you won't make a big dent.

[sartort]

JMJ- My program's 2012-2013 loan package for a standard situation (I'm assuming single, no kids, like me) was 70k per year. The program is 26 months, so that comes out to over 150k. The expenses for ONE year: 40k+ for tuition and fees (not a private school but no discount for in-state either), room and board estimated about 15k, books and supplies (including software, internet access, smartphone monthly access, etc) at 8500, transportation expenses (car payment/insurance/gas/maintenance/DMV fees at 3300, Personal expenses at 1,750, Loan Fees at $100. That's roughly 70k per year or 151k for 26 months. Then you have to take into account that the stafford loan only gives you 20,500 per year at 1.05% fees and 6.8% interest rate that accumulates WHILE WE ARE IN SCHOOL. New students don't get the subsidized loans anymore because of the recent budget cuts. The rest of your yearly expenses are with Grad PLUS loans at 4% fees and 7.9% interest rates, also accumulating while in school. In addition to the 150k you take out for expenses (assuming you have no family obligations to pay for) you also acquire probably 15k or so in interest/fees in addition to pay off. People who have significant others who can help with expenses have a huge benefit to lower costs, but those who don't will be around that number and students who have to pay for kids expenses during that time will have even more debt. Sure you could attempt to live more frugally but that 15k covers food, rent, utilities in a fairly big city for a year. If you are lucky enough to have a little left over at the end of the term you could attempt to pay on some of that interest, but you won't make a big dent.

[sartort]

JMJ- My program's 2012-2013 loan package for a standard situation (I'm assuming single, no kids, like me) was 70k per year. The program is 26 months, so that comes out to over 150k. The expenses for ONE year: 40k+ for tuition and fees (not a private school but no discount for in-state either), room and board estimated about 15k, books and supplies (including software, internet access, smartphone monthly access, etc) at 8500, transportation expenses (car payment/insurance/gas/maintenance/DMV fees at 3300, Personal expenses at 1,750, Loan Fees at $100. That's roughly 70k per year or 151k for 26 months. Then you have to take into account that the stafford loan only gives you 20,500 per year at 1.05% fees and 6.8% interest rate that accumulates WHILE WE ARE IN SCHOOL. New students don't get the subsidized loans anymore because of the recent budget cuts. The rest of your yearly expenses are with Grad PLUS loans at 4% fees and 7.9% interest rates, also accumulating while in school. In addition to the 150k you take out for expenses (assuming you have no family obligations to pay for) you also acquire probably 15k or so in interest/fees in addition to pay off. People who have significant others who can help with expenses have a huge benefit to lower costs, but those who don't will be around that number and students who have to pay for kids expenses during that time will have even more debt. Sure you could attempt to live more frugally but that 15k covers food, rent, utilities in a fairly big city for a year. If you are lucky enough to have a little left over at the end of the term you could attempt to pay on some of that interest, but you won't make a big dent.

[SoCal_PA]

That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane.

 

 

Went to USC for my undergraduate and now will be starting their PA prgram this Fall.

 

 

[SoCal_PA]

That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane.

 

 

Went to USC for my undergraduate and now will be starting their PA prgram this Fall.

 

 

[ATTACH=CONFIG]1076[/ATTACH]

[SoCal_PA]

That probably matters to people in certain states like California, where there's gonna be sticker shock regardless of the program. I just looked at USC's program cost: $145,000 or so. Regardless of the cost of living in California, that is insane to me. Absolutely insane.

 

 

Went to USC for my undergraduate and now will be starting their PA prgram this Fall.

 

 

[ATTACH=CONFIG]1076[/ATTACH]

[coastalPA]

Wait....you've been paying your loan back with $770/month for 4 years and only knocked $3000 off of the principle? :O

 

Maverick, I have paid this amount every month since the winter of 2008, when I started my first job up until the last 6 months or so because I only work PT now. AES "allows" me to pay around $600/mo after I gave them proof of pay although this goes to interest with more interest going unpaid every month; it's so depressing. When I made more with FT employment, I would pay more than this at times $1000-1200/mo but it all seems to be going to interest. AES tells me this is just the way these loans work...interest is paid first, up front, with VERY little going to principle ($5-$20/mo). What can you do? If you think I can do something differently (aside from securing FT employment--which I am actively looking for) please PM me and let me know your thoughts.

[coastalPA]

Wait....you've been paying your loan back with $770/month for 4 years and only knocked $3000 off of the principle? :O

 

Maverick, I have paid this amount every month since the winter of 2008, when I started my first job up until the last 6 months or so because I only work PT now. AES "allows" me to pay around $600/mo after I gave them proof of pay although this goes to interest with more interest going unpaid every month; it's so depressing. When I made more with FT employment, I would pay more than this at times $1000-1200/mo but it all seems to be going to interest. AES tells me this is just the way these loans work...interest is paid first, up front, with VERY little going to principle ($5-$20/mo). What can you do? If you think I can do something differently (aside from securing FT employment--which I am actively looking for) please PM me and let me know your thoughts.