Does anybody know roughly how long it would take to pay off, say $165k of loans? 
Payoff Timeline
- Thread starter PTWannabe
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PTWannabe,
That is dependent upon your lifestyle and how much you earn/owe. READ THAT AGAIN.
It's purely mathematical............in v. out.
What may take one person 10 years to pay off may take another just 5 or less. If you want it off your back, I would suggest just living off what you NEED (not want) and putting the rest toward debt. I would work extra shifts or per diem work on the weekends often. You can make a decent amount that way also. Or you can do the travel thing and knock it out quick, if you put it towards your debt.
That is dependent upon your lifestyle and how much you earn/owe. READ THAT AGAIN.
It's purely mathematical............in v. out.
What may take one person 10 years to pay off may take another just 5 or less. If you want it off your back, I would suggest just living off what you NEED (not want) and putting the rest toward debt. I would work extra shifts or per diem work on the weekends often. You can make a decent amount that way also. Or you can do the travel thing and knock it out quick, if you put it towards your debt.
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Punch in out in an excel file and you can get a picture for yourself.
Assuming average starting salary:
Gross: 60000
401k 6000 (10%)
Net: 54000
Taxed: 40500 (25%)
So, then you go to a mortgage calculator. I used 165000 and 5% interest.
10 Years: 1700/mo - 21000/year.
20 Years: 1088/mo -13000/year.
30 Years: 885/mo - 10600 year.
That leaves you with 19500, 27500, and 30000 respectively to use to live on. I would say that 10 year is pretty much out of the question, but the other two are do-able in places where the cost of living is in line.
Assuming average starting salary:
Gross: 60000
401k 6000 (10%)
Net: 54000
Taxed: 40500 (25%)
So, then you go to a mortgage calculator. I used 165000 and 5% interest.
10 Years: 1700/mo - 21000/year.
20 Years: 1088/mo -13000/year.
30 Years: 885/mo - 10600 year.
That leaves you with 19500, 27500, and 30000 respectively to use to live on. I would say that 10 year is pretty much out of the question, but the other two are do-able in places where the cost of living is in line.
How do you figure? On their website it says that tuition per credit is $1149 (not including their other fees per credit) multiplied by 133 credits is already $152,817 alone. [Please tell me I'm wrong!
]Can you tell me more about traveling PTs? I just heard about that recently and don't know much about it. Thanks!
How do you figure? On their website it says that tuition per credit is $1149 (not including their other fees per credit) multiplied by 133 credits is already $152,817 alone. [Please tell me I'm wrong!
http://www.apta.org/AM/Template.cfm...s/acc_schools_map.cfm&process=2&ProgramID=675
TUITION, FEES AND FINANCIAL AID:The three-year, flat rate tuition for the incoming class of 2007 is $104,000. Room and board from September to May is $15,200. Laboratory and other fees are approximately $600, and books are approximately $721. Additional costs to commuter students vary greatly. For information regarding the types of aid available to qualified students, contact the Office of Financial Aid at 25 West 4th Street, New York, NY 10003 (212-998-4444).
I believe that is still kind of expensive....
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I think it depends on your situation. Do you live at home with parents or / or have someone you can depend on while in school? or will you need to add rent/gas/meals to the loan? (I'm not really asking is something we all have to think about.)
Wannabe,
Travel PT are usually based on 12-13 week contracts. They cover the spectrum as far as in/out, snf, home health, etc. You can travel the country or stay close to home, that is, if you live in a big enough area. About halfway through an existing contract, you work with your recruiter (agent) and find another assignment for the next 13 weeks and so on and so forth. You can make some serious skrill even if you do it for just one year. The BIGGEST key is finding a recruiter that is upfront, honest, and has your interest first. You can max out pay potential by taking a housing stipend and finding a cheap place on craigslist or if you have to happen to have friends in the area. Obviously, there are drawbacks to doing the travel deal. One major thing is if you get sick and need to call off. YOu may take a serious hit in pay for that day(s) and may even have a penatly fee ontop of that depending on your contract. So there's definitely pro's and con's to consider. There's a new site that deals specifically with traveling. It's new, so it's just in it's infancy but it's probably the best site for travelers and is definitely a great tool. It seems it will just get better with time. http://www.medtravelerclub.com/
Travel PT are usually based on 12-13 week contracts. They cover the spectrum as far as in/out, snf, home health, etc. You can travel the country or stay close to home, that is, if you live in a big enough area. About halfway through an existing contract, you work with your recruiter (agent) and find another assignment for the next 13 weeks and so on and so forth. You can make some serious skrill even if you do it for just one year. The BIGGEST key is finding a recruiter that is upfront, honest, and has your interest first. You can max out pay potential by taking a housing stipend and finding a cheap place on craigslist or if you have to happen to have friends in the area. Obviously, there are drawbacks to doing the travel deal. One major thing is if you get sick and need to call off. YOu may take a serious hit in pay for that day(s) and may even have a penatly fee ontop of that depending on your contract. So there's definitely pro's and con's to consider. There's a new site that deals specifically with traveling. It's new, so it's just in it's infancy but it's probably the best site for travelers and is definitely a great tool. It seems it will just get better with time. http://www.medtravelerclub.com/
