Is the college debt worth becoming a CLS/MT?

I am a freshman at a community college and I plan on transferring to ST. Louis University next year. They have a Clinical Laboratory Scientist major, a 3+1 program. It's a really nice program but it costs 30K a yr!!!!!!! I would have to pay it for 3 years? I would get a Pell grant for 5,000 each yr... so that brings the total debt I'll receive to be 75,000$! not counting the costs of living on my own.
Is that worth the income of an CLS/MT?
I would really enjoy the job but the income is kind of low compared to the tuition debts.

.. and another question..the last yr you take classes and make rounds at hospitals, does some of your tuition get waived for working at the hospitals??

I graduated with 60K in debt from my CLS program. In order to pay for it fast, I have a per diem job working 4 extra days a month, on top of my full time job and most of my per diem money goes to my loans.

I would say it depends on your earning potential. CA pays high and I'm making close to 90K with both my jobs so I'm able to make big payments to my loans to pay them off quickly.

I know some states pay low for CLSs. I'm not sure how much Missouri pays. If they don't pay as high, I'd recommend finding a state school or cheaper school.

To give you an idea, a 70K loan will charge you $700 a month for 10 years. That's quite a bit of money a month when trying to pay for car payments, mortgage, and not to mention if you have kids.

Thanks for answering! :)
Missouri pays low but the cost of living is low. The starting rate for CLS is around 32,000 to 35,000$... I think I'm going to go to a cheap school like Northwest Missouri University. I wouldn't have any debt there. But it wouldn't be the best education. Like if I went to the expensive college, St. Louis University a CLS students takes classes to the specific specialties that you need.. like hematology. If I went to the cheaper school they offer 3+1 bachelor's degree but with more of a basic biology/chemistry classes.
Do u think that's bad?

No it's not. Once you're on the job, the classes you took matter little. As long as you are MT(ASCP), you will be good. Since the pay is lower, definitely go to the cheaper school because once you start working, it's all the same. Having a 70K debt and only making 35K a year will take you forever to pay it off, and you will not be able to do buy certain things financially, unless you marry a rich guy.

CLS48 in California said: unless you marry a rich guy.

lol!

Ok good! I'm just gonna go to a cheap college. and i don't want to have to depend on a man lol i refuse to that.
Thanks!

You will end up with $40,000 in debt and in extreme financial pain, without a job. Ask anyone who graduated college in the last year. Probably the biggest mistake of their lives. www.thegreatcollegehoax.com

CLS48,

Do you get any tax benefits, etc for loan payments? I'm going to have a huge debt, and I am thinking about what the best method was to pay back my loans... I'm also in socal. Also, have any tips (consolidation, etc) for loan paying?

Thanks

Cisco in Redondo Beach, California said: CLS48,

Do you get any tax benefits, etc for loan payments? I'm going to have a huge debt, and I am thinking about what the best method was to pay back my loans... I'm also in socal. Also, have any tips (consolidation, etc) for loan paying?

Thanks

You must have gone to Loma Linda. You can only deduct the maximum $2,500 of interest paid from your gross income on your federal taxes so the benefit is minimal. You probably have a mix of private loans and stafford.

I'd advise you to pay off the private loans as soon as possible because they have no cap on the interest rate whereas the stafford loans are capped at 8.25%. If you are young and don't have a family, you should get a per diem job and work as much as possible in both your full time and per diem job, while living at home so you don't pay rent. Then pay like 2K a month which you probably could easily afford without so many bills to pay. You should be able to pay it off in maybe half the time rather than 10 to 15 years.

I don't know too much about your personal situation to give you more accurate advice, but if you can, I definitely recommend working 2 jobs. If not, with a 70K debt, $700 a month for 10 to 15 years will significantly affect your lifestyle.

As a student, you never know the ramifications of paying back such big loans until you start working and begin to start paying it off.

CLS48 in California said: If not, with a 70K debt, $700 a month for 10 to 15 years will significantly affect your lifestyle.

I may have exaggerated a bit. With a 90K salary (If you had a full time and per diem job in CA such as salary is easily attainable), if you're married your take home pay would be maybe $5200 or around there. If you're single, at a higher tax rate you might be looking at $4700. That is after state and federal taxes, retirement plan payments, healthcare insurance premiums, etc.

So $700 a month wouldn't necessarily affect you as much if you don't have too many other bills. However, if you have a mortgage or high rent, a car payment, credit card bill payments, kids, a family etc, you can see how that $5200 to $4700 doesn't go as far with that student loan payment dragging you down. But if you're married and your spouse makes a decent amount, then you might not have such a problem. It's all relative and depends on your financial situation if the loan payment will affect you that much.

I am in N California training to be a CLS, and I wanted to know if it is better to be a generalist or to specialize? And if I specialize, what department is more lucrative financially? Do some pay better than others?

I would say being a generalist is better because it opens up your options. If you are proficient in all areas then you look better to employers, and they may give you more because of it.

Most large labs though just hire you to work in one department forcing you to specialize anyway. I'd say specializing in micro or in the esoteric testing such as immunology and EIA may help you. Moneywise you'd get paid the same either way. You don't have to worry because in northern CA, you'll be paid the highest in the nation.

CLS0650 in Los Angeles, California said: I am in N California training to be a CLS, and I wanted to know if it is better to be a generalist or to specialize? And if I specialize, what department is more lucrative financially? Do some pay better than others?

College Is A Scam in Duluth, Minnesota said: You will end up with $40,000 in debt and in extreme financial pain, without a job. Ask anyone who graduated college in the last year. Probably the biggest mistake of their lives. www.thegreatcollegehoax.com

I suppose it depends, I graduated with $0 debt from my CLS program as I received a full academic scholarship and got a job making $55k/yr and a per diem making $20k/yr in a low cost of living area.

I suppose college wasn't such a mistake for some of us.

I know CLS programs in CA can be a little pricey because the pay is high.

The rest of the country is not bad, its worthwhile to get a BS CLS degree.

Now if your talking about pharmacy, Dentistry, Optometry, those programs you will be well over 100K in debt.

Hi everyone! I recently graduated with a BS Chem. (conc.Biochemistry). I was told that pursing a MLT degree, from a community coll., would be beneficial for me because I have already obtained a bachelors and the duties/ responsibilities of the MT/MLT are vague anyways. Do any of you think this is a good move? Career wise or financially?

Nick in Arlington, Tennessee said: Hi everyone! I recently graduated with a BS Chem. (conc.Biochemistry). I was told that pursing a MLT degree, from a community coll., would be beneficial for me because I have already obtained a bachelors and the duties/ responsibilities of the MT/MLT are vague anyways. Do any of you think this is a good move? Career wise or financially?

better than your general degree (probably). You will have a job, but as a MLT you will not make as much money ($4-$5 less than a MT). However once you land yourself a job in the field, you might be able to get higher level certification after working in the lab for a few years. Then you can pursue a higher level of pay/recognition. IE getting your foot in the door.

You should consider smaller programs, such as the excellent program at Mercy College in Des Moines. It will complete the fourth year of a BS degree in MT/ CLS. The test passing rates are almost perfect, tuition for the program is a few thousand dollars. Get a degree here cheapo and then rent somewhere in CA and pay it off within the year.