Other OT-Related Information Seeking opinions

[saubee19]

I was accepted into an OTD program that is 3 hours from me. I loved everything about this program but the tuition for the program itself is around $155k (crazy!!!!) and they don't offer scholarships. All together with the cost of living I would have to take out roughly $200,000 or more as I would be moving to a big, expensive city. The amount of loans I will have to take out is honestly making me second guess my admission there.

I did apply to the OTD program near me but have not heard back yet and have to submit my loans soon for the other program. The program near me is about $110k but I would live at home for free. I don't know if I should just wait to hear back from the cheaper program and if I dont get in wait another year and apply at the same program or go for the more expensive one since I was accepted already.

I do have about $20k from undergrad.
I am only 20 years old (graduated a year early)

I really want to make the right decision and do want to be an OT so bad but don't want to have an insane amount of loans.

Thanks!

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[gOT2beOT]

I would honestly wait to hear from the local school. Over 200k debt is a huge burden. I was in a similar situation and was willing to wait a year to save myself that struggle later in life. Ultimately it is your call and it is how much debt you are personally willing to swallow. I would talk to a financial advisor or a family member who has experience in finance who could maybe shed some light.

 

[saubee19]

I would honestly wait to hear from the local school. Over 200k debt is a huge burden. I was in a similar situation and was willing to wait a year to save myself that struggle later in life. Ultimately it is your call and it is how much debt you are personally willing to swallow. I would talk to a financial advisor or a family member who has experience in finance who could maybe shed some light.

Did you end up waiting a year?

 

[hannieOT]

If those are your only two options right now for a school, I would put the deposit down and still wait to hear for the closer school! If you get in to the one by you, I would definitely go to that one. An OT degree is an OT degree. You're better off saving 100k and getting the exact same degree! But of course you have to be happy with your decision! If it was a matter of 10-20k, I'd say go with your dream school. But because this is a difference of nearly 100k, I'd say no way!

 

[Nonameiwant]

My advice, you are young. Sure you can pay off a large debt, but that is a significantly large debt. I would suggest not putting down a deposit, and hoping you get into the school where you could live with your parents. If you don't get in, take some time off. Find a job that will give you experience, if you can still live with your parents, take advantage of that and save money. There are plenty of other OT schools to apply to. I think you would be happier in the long run not feeling as burdened taking out a large sum of money. Sure it's an OT degree, but just because you pay more for a degree doesn't mean YOU will get paid more.

 

[SCOT2017]

Do the cheapest option and maybe even consider taking a year off! I was in the same boat. I was accepted to an out of state program that was significantly more expensive than my dream instate program. Sure it was annoying having to wait a year and reapply but the experience I gained and the money I'm going to save down the road was absolutely worth it. Also you're still SO young.

 

[saubee19]

Thank you all for the responses. After hearing your guys opinions I think it is best for me to wait to hear back from the cheaper OTD program near me and if I don't get in take a year off and then reapply. It may not be exactly what I want to do but I also don't want to have an insane amount of debt. Thanks again!

 

[gOT2beOT]

Did you end up waiting a year?

I ended up not having to because I got into the closer, less expensive option. But if I didnt, I was for sure waiting. I just got lucky!

 

[saubee19]

Even better news! Today I was accepted into the cheaper OTD program!!! So excited to start this journey!

 

[hannieOT]

Even better news! Today I was accepted into the cheaper OTD program!!! So excited to start this journey!

Congrats!! So so exciting!