Debt Burden and Impact on Physical Therapy Students

Area of Science:

• Health Sciences
• Education
• Economics

Background:

• Physical therapy program tuition has surged over 100% in the past decade.
• This increase contrasts sharply with a mere 10% rise in physical therapist salaries.
• This financial disparity creates a challenging landscape for aspiring physical therapists.

Purpose of the Study:

• To assess the debt burden among students in full-time Doctor of Physical Therapy (DPT) programs.
• To identify the proportion of graduates likely to face negative financial consequences from debt repayment.
• To inform students and institutions about the financial realities of DPT education.

Main Methods:

• A survey was administered to 703 students across different academic years (1st, 2nd, 3rd).
• Participants included students from both public (45%) and private (52%) physical therapy institutions.
• Data collected focused on student debt levels and repayment expectations.

Main Results:

• Students borrowed a median of $100,000, with an average of $101,444 ± $53,102.
• Nearly 50% of students in private programs anticipated total debt exceeding $150,000.
• Debt repayment over 10 years would consume ~20% of salary, while 25-year repayment lowers this to 10%.

Conclusions:

• Graduates can anticipate substantial financial burdens post-DPT program completion.
• Income potential may heavily influence future professional and personal decisions.
• The study highlights the need for financial planning and support for DPT students.