Is the debt to become an OT worth it?

Is OT worth 100K in debt? Will I be making enough money to pay all the loan payments? UGH!

No. Do NOT go into that much debt. Find a cheaper school to go to.

I agree with the previous commenter. Check out some financial aid loan calculators if you need help. I was looking at loans, and if I take out 60,000 (for tuition and living costs for 2-3 years), I would need to make about 70,000 a year to pay off my loans within 10 years and still live comfortably. I know there are OTs who make 70,000 or more a year, but it also depends on your location and type of OT work.

I really don't see how an OT will make enough to pay off 100k in school loans. I would try to find a cheaper program unless you find someone who will help you with school costs.

I am already 60K under from my Bachelor's so at this point I will at least be in 80-90K even with a cheaper program!! UGH

I have been an OT for over 15 years. I have 2 Master's and I will tell you honestly my education totaled over $160,000. I work PRN so I can make the highest hourly rate. I have worked full time but the income was less and provided NO flexibility. Missing my children's science fair because I need to get a new admit eval'd so the facility can get paid by Medicare the same day they arrive or not getting to take vacation until I find my own coverage is just flat out WRONG! You will be over worked and pressured to be 85% and above productive. I feel like and assembly line worker because of productivity quotas. I worked as a Director of Rehab and was making a salary of $90K but worked on average 60 hrs a week and had the stress of the department balancing keeping my staff happy and productive and staying in the black for the company all while sticking to my personal level of integrity and ethics. I have specialization certifications that cost me additionally on top of my loan debt and the certifications did not increase my income. I have joined Arbonne as an independent distributor for skin care and wellness so that I can supplement my income and afford to take vacations and buy a new car. I love being an OT but do I think it was worth the debt? Do I think it we make enough income? NO! Pay rates have not increased, in fact I make less now than I did when I first got out of school do to insurance and Medicare cuts. The good news is that while everyone else is looking for a job, OT positions are open all over. If you are wanting to be in the field be a COTA, make great money and have less debt. Just my two cents.

Plan B in Denton, Texas said: I have been an OT for over 15 years. I have 2 Master's and I will tell you honestly my education totaled over $160,000. I work PRN so I can make the highest hourly rate. I have worked full time but the income was less and provided NO flexibility. Missing my children's science fair because I need to get a new admit eval'd so the facility can get paid by Medicare the same day they arrive or not getting to take vacation until I find my own coverage is just flat out WRONG! You will be over worked and pressured to be 85% and above productive. I feel like and assembly line worker because of productivity quotas. I worked as a Director of Rehab and was making a salary of $90K but worked on average 60 hrs a week and had the stress of the department balancing keeping my staff happy and productive and staying in the black for the company all while sticking to my personal level of integrity and ethics. I have specialization certifications that cost me additionally on top of my loan debt and the certifications did not increase my income. I have joined Arbonne as an independent distributor for skin care and wellness so that I can supplement my income and afford to take vacations and buy a new car. I love being an OT but do I think it was worth the debt? Do I think it we make enough income? NO! Pay rates have not increased, in fact I make less now than I did when I first got out of school do to insurance and Medicare cuts. The good news is that while everyone else is looking for a job, OT positions are open all over. If you are wanting to be in the field be a COTA, make great money and have less debt. Just my two cents.

Thanks for you input! Just a few questions...how do you get a director of rehab position? Do you have to put in a certain amount of years as an OT first? Are these director/leadership positions widely available? If you don't mind me asking, when you work PRN, how much do you make yearly? Thanks again.

Also, one more thing to add...I will be living on my spouse and my income when I am out of school so combined we will definitely be over 100K/year which is what my debt will be. That makes it a little easier...you never know what could happen though.

Thank you for the response, Plan B in Denton. I am a prospective OTA student for the Fall and I am really worried that there won't be any jobs available because of the Medicaid cap this past Jan! By the time I'm done getting my Associates and certified-do you think the field will still be around (half j/k.....half not...heh)

I did my BS/MOT at Bay Path College it was expensive cause it's MA and a private school but it came out to 50K after scholarships and grants and than with work I got 20K loan assistance and a 10K sign on bonus and it brought me down to 20K owe so it was worth it for me. I guess you need to pick your school wise and make sure you have grants scholarships and all the resources you can get! Good Luck.

100K sounds like a lot. OT is a good field, but I am not sure. I mean you can become a cop for free with 60 college credits and make 90k after 5 years, meanwhile someone can get a PHD in philosophy with 150K debt and make 26k a year. Sound fair?