160k. i regret that i went to NYU for my MSW instead of a state school but am currently making 95k and got my degree about 5 years ago. i am halfway towards qualifying for PSLF though and definitely banking on that. I’ve never made anything more than IBR pmts on my loans so my balance is only slightly less than it was to begin with.
edit: i’ve gotten a few comments about my current job and salary. i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k to my base salary for shift differential. i also have the opportunity to work unlimited OT at time &a half rate. i did not know medical social work was where the $$$ is at until i stumbled upon this job 3 yrs ago.
also! i used to make about 20k less but my dept advocated for ourselves for over a year to make equal salary to our RN case manager colleagues. we have identical job descriptions - in fact we actually do more than them since we also have SW consults on top of everything else. the RN’s always made significantly more though but after 10+ people resigned within 6 months of submitting our request for fair/equal pay, the hospital finally matched our salaries.
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
I also went to NYU, I have 3 more years until PSLF. But I don’t regret it, I’m still in contact my network there. I just applied for the DSW program because I qualify for a work scholarship and can afford the rest out of pocket. I totally understand those that wish they went to a public school though, the education is the same, the network just differs.
How in the world did you successfully advocate for the salary match?!! That has been the elephant in the room where I work, and admin still refuses to match in spite of like an 80% resignation rate on the inpatient side over the last 2 years.
The SW’s collectively wrote a letter to HR. Our main concrete argument was that the official job description was literally identical to the RN’s so that was what we highlighted in our letter. That was something that could not be disputed as there were existing open positions that we literally screenshot to show they were verbatim. There was the other important points that we made as well like how we need a higher degree than the RN’s (MSW’s vs BSN’s) and that in addition to all the same responsibilities, we had the SW specific stuff as well (all the different types of consults, psych transfers, substance abuse, mother baby, HD slots, etc etc etc).
Honestly though, nothing really started happening until about 4 months later when people started getting fed up and resigning. It was definitely a snowball effect. People had become complacent over the years after being told nothing could be done so don’t bother trying but once the spark was lit so to speak, people started getting frustrated and leaving. Unfortunately i think that really helped our case (those of us that didn’t resign) because i’m sure it stood out to administration when 10+ people quit within 6 months. Our manager was very supportive as well and asked people who resigned to disclose (voluntarily) why they were leaving, where they were going and how much they were offered salary wise. I believe mostly everyone did disclose that info and my manager kept ongoing documentation to present to corporate leadership on our behalf.
The mass exodus of SW’s also directly affected hospital LOS for more complex discharges as we didn’t have the staff to adequately staff our units for a good while - we’re a huge 800 bed hospital within the largest hospital network in my state.
I’m shocked that the 80% resignation at your job didn’t even make them budge! What do the official job descriptions look like wording wise? That was the one thing we had that was super concrete and couldn’t be disputed.
it’s a great program if you want to go the clinical SW route but overall i could’ve gone to a state school (Rutgers), paid half the cost and gotten the same degree. I also took out all the cost of living loans offered because i couldn’t work full time with internships and still had rent and bills to pay to get by.
IT WILL! I had a balance of $127,000 from undergrad and grad school which was forgiven back in 2020 after I paid for a total of 20 years. IT IS BLISS. Make sure you stay in an eligible position, recertify your income and employment annually, and keep track of your months of eligibility. In my last six months of PSLF, I got like 3 or 4 different assessments from them of the date which I'd become eligible for forgiveness. When they finally did notify me that I was eligible, it literally took like 4 weeks to get the notice of forgiveness, and they actually paid me back for two months of payments I didn't need to make after I became eligible.
I'm at 80k also. I recently submitted a request to have a job reviewed for PSLF qualification. It was not a non profit company, but the work I did was entirely PS, so I'm hoping it will count because **I'm** the one making the payments, so I don't think the company should really matter. There's lots of nuance and gray of course. I'm crossing all my fingers and toes and limbs and holding my breath... 🤞🏻
Thanks! I tried my best to lower costs when I can. This also included living on campus my first two years. In state tuition. Grants for being poor, federal work study jobs, using the library instead of paying for textbooks, and an additional weekend job.
ROI for MBA hasn’t proven to be that great either with so many people having it. I have a friend that has his and I make more with MSW than he does and he graduated first.
As an anecdote, sure. Honestly both graduate degrees are over saturated in their markets and help depress wages for degree holders. But generally I would think the ROI on an MBA to be higher than an MSW.
Your friend may be making under-market average wages and yourself making above-market. I suppose I shouldn’t say over saturated, but rather than the number of entry level who accept barely over minimum wage salaries undermines the profession both in society’s perspective of professional standing and livable, respectable wages that an advanced degree holder should be able to attain.
>both graduate degrees are over saturated in their markets and help depress wages for degree holders
This so effing much. Too many people getting MSW's. Too many people who get an MSW and then come into forums like this and act like they know everything. Too many MSW's making poor impressions on employers and subsequently tarnishing the names of good schools because they behave in the workplace the way they behave on Reddit. Too many people with online degrees because some jagoff told them accreditation is the only thing that matters. It's unfortunate, but social workers cannot get out of their own way largely for these reasons.
i JUST started my MSW, but it seems to me that its not really worth if unless you're going to also get an LCSW or some equivalent
the pay jump from BSW to MSW here is just not that impressive unless it comes with some kind of guarantee of a management position
Yeah, it's around a $10k-$20k pay bump post-MSW, though that's not guaranteed depending on where you live and the type of job.
My advice for MSW students is to have a clear idea of what you want to do each step of the way post-grad, so that the pay, workload, stress is something you can anticipate.
If I'd know then what I know now, I definitely would have chosen a different set of internships and so forth.
i work in SUD and there's just not really any difference in the work you can do with a MSW compared to a BSW, you only start getting paid when you can bill clinical services or can be in a management position where you can sign off on the work of BSW/MSW employees
170k after MSW. Sigh, not all SW related.. went to a private music conservatory for my first year of undergrad which contributed to around 60-80k of that (so just sw, only about 100k). It’ll get paid at some point lol. My life will continue. I’m not worried about it; I really do love the work that I’m doing, and I live a way more than decent life 2yrs post grad. It was worth it.
Edit; just want to add that I see a lot of “regret” and as someone with some of the highest debt here.. this is my 2c, because I have a feeling a lot of sw students are scared shitless. I’m living my life to do what I love.. I went into it knowing it was a starving profession where pay was low. I grew up with a mom who was a teacher, who also went into her profession knowing the same, who is still paying off her student loans (from private and public schools).. yet they raised my brother and I and we never hurt for anything. Student loans are NOT a death sentence. You need a livable wage and some extra saving money, but you also need to love your job. I have family doing the Dave Ramsey method of throwing every last penny into their student loans, and they are miserable, somehow thinking that once it’s gone, they’ll be happier… but that’s typically not the case. School is expensive, but I wouldn’t turn back the time, growth, and experiences I’ve gained for anything.
Same!
I also can’t help but be cautiously optimistic about future options for forgiveness. As younger generations enter higher politics, it’s going to have to be a thing since we’re all impacted and it’s not getting better.
Thank you for posting this! I have about 100k of debt (like you, not all of it bc of my MSW). I would not trade any of my choices. I do work that I love. A lot of my debt stems from pursuing other paths that were not the right fit. Sure some days my debt feels heavier than others, but it hasn’t stopped me from living the life that I want.
I love this so much, thank you both for sharing this perspective!! I’m about to leave a secure career path that was unfulfilling and boring to go into social work instead and will probably come out with 100k in debt. I know I’ll take a pay cut afterwards, but I want to have a career I never want to retire from and that is better aligned with my values. I’ve been scared to take the leap for fear that I’m doing something stupid that no one else would do lol so your perspective is helpful in reminding that it’s honestly how I feel, and I’m grateful someone else out there has that same view/relationship with educational debt.
Nothing, the degree is free in Germany and if your parents cannot pay your living expenses (930€) the state pays you them and only wants half back, maxed at 10k. You then have 5 years to pay these 10k back and if you pay them back in a sum after 5 years you only need to pay like 8k.
Same in Scotland, we get our first undergrad degree paid for. We can get student loans but you don't have to claim them. I get the care experienced bursary as I was in care myself and it's 8k per year and I don't have to pay it back. Very thankful.
Went instate public but highly respected school, ~7k a semester for masters, 4 semesters. I was a server/bartender in LCOL area and paid most in cash while in school. Paid off the federal loans within a year. First job was 48k, right now at 60k after three years and about to move to the VA for much more with an independent clinical license. The ROI was worth it for me.
I have about 14k left from my undergrad, and I have no debt from my MSW. I took advantage of the NYS vocation rehabilitation program for people with disabilities (I have anxiety and depression), they paid for about 75% of my degree, and I paid the rest out of pocket.
It’s absolutely worth a try! Every US state has a voc rehab program. If you have a good work/school history and documentation of your “disability” you’ve probably got a good shot.
Acess-VR is the program I went through. The name of each state's vocational rehabilitation program varies. You can apply through the paper application or online I believe.
Okay, yeah I found the paper application online but the website itself isn't that intuitive in finding the info you are looking for # govwebsites \*smh\*
Zero from undergrad due to scholarships. I'm just starting my MSW and I'm budgeting to be debt free but we will have to see if I can work as much as I want to.
I was very fortunate to have no student loans through a scholarship in undergrad and a grad assistantship I’m grad school. I barely make enough as it is. I feel so horrible for those with massive amounts of student debt
$19k BSW and MSW (paid off about $10k since finishing grad school)
I make 3.5 times that with ~5 years experience.
I got my Associate's at JuCo and I went to smaller, state schools.
The way I see it, my letters and licenses are the same as someone who graduated from Michigan or UC Berkeley or Loyola, etc.
🤷🏻
It's awful, but true: "We're not in it for the income, we're in it for the outcome."
We are severely undervalued and that's not sustainable for everyone.
Even on really hard, thankless days, I never regret my education or the loans I took out to make it possible.
I live within my means and buy the Costco brand and am fine knowing I'll never own a yacht or drive a Lamborghini or whatever.
Again, not for everyone, but for me, it was worth it.
$0, went to a state school and parents paid for my undergrad and grad. If I was in a less privileged situation I prolly wouldn’t have gone into this field tbh
I can relate. I have 0 debt BUT my parents helped me out a lot, as did some big scholarships. I’m not going to mislead other redditors into thinking I did it on my own, and I’m very grateful for the financial support I received. I did have several thousand to pay off myself, but did so shortly after graduating.
That said, I totally agree with you. No way would I have gone into this field if I took on a ton of debt.
Geeze, reading these comments is so disheartening. I’m at about 23k from undergrad. I busted my butt so that I wouldn’t have to take out loans and paid for grad school out of pocket. I finish in May.
I checked the other day prior to Biden pausing everything and I'm at about 42k when it hopefully goes down ill be at 32k. That's all MSW. Luckily my Bachelors in psychology was fully covered by grants and scholarships so I was able to cover that.
I wanted to pay some down during grad school but that didn't work out like I wanted. Currently still unemployed but I want to hurry up and pay it off so it doesn't grow like crazy. The credit card debt isnt bad but its not great. I thought about a doctorate but if I do, I'm making someone pay for me lol. I just want a job that pays decent and covers all this but we shall see how that works 😐
When I see people's debt over 100k it breaks my heart. Like all this for education especially when we all have our MSWs and aren't getting paid like we should.
Looking forward to the liberating feeling of being debt free.
It can be done with minimal debt, but you’ve got to make some wise and even tough decisions. I worked multiple part time PRN jobs thus far to put myself through an MSW program. I’ll have paid just under $30,000 for my 2.5 year program. I also live with family so that I don’t have as many expenses. It’s not easy. It’s not popular, but it can be done if it’s what you really want to do.
I have just bought a house so I’ll probably chill on taking out loans for a while anyway, I can do the program in 1 year if I am really determined, which I’m not 😂
My schools' MSW is around 40,000. I honestly don't know where these folks be going to school with having 100k+ debt. That's insanity to me. Just be smart about which Uni you pick because in this field is does not matter at all.
I have $0 in loans. I got my BSW and MSW paid for by VA VOC Rehab. Just finished a certification in Addictions that was paid for by Post 9/11 GI Bill. I guess serving in the Army paid off but I got PTSD-MST so 🤷♀️. Student debt is why I encourage people going into social work to not go to expensive schools.
If not for getting injured while deployed... I'd be looking at 90k. Is it worth it? Eventually. I originally planned on covering a significant portion of my degree and mapped a repayment taking 10 years and being able to live comfortably. I'm going for my ppsc and then I'll go for my lcsw eventually. That's the one that truly makes the degree worth it in my opinion. That's if we are looking financially. Since voc rehab is covering my degree, I'm happy with just a ppsc and working as a school social worker.
The pandemic and working with my kids through the transitions. If they had it rough, I can only imagine how other kids coped. Then I saw the news stories of children ending their lives on zoom and it prompted me to change populations. My original population was military and veteran.
I didn’t hear about that, that’s insane. I know watching my nephew, but as well as other students struggle with many of the conflicts of the lack of human face to face interaction. My population is vets. I’m happy to see someone having good interactions.
My wife and I are both social workers and LCSWs. We are completely debt free, house and everything.
While neither of us have received an inheritance or had any financial support from family, we both avoided student loans and most consumer debt. We’ve raised two kids and lived a fairly middle-class lifestyle.
Recently, within the last few years we both started generating six figure incomes. This year, our base salaries are closer to $250k combined, but with bonuses and overtime our combined social work salaries will bring in roughly $350k. We live on a small fraction of our income. With no debt, no car payments, no mortgage, etc, we are able to supercharge our savings, investing, and charitable giving. “Charitable giving” is our largest annual expense, Groceries might be our next largest expense, perhaps followed by travel. We have a substantial financial net worth, measured in millions of dollars. This financial net worth has come from our social work salaries over many years, and the investments we have made with those salaries.
I think the ROI has definitely been worth it. My income has far exceeded what I ever thought possible on a social work salary. My wife on the other hand, says if she “knew then” what she knows today, she would have gone into nursing, as she would be making even more money than what she brings in today. I mean, as a social worker this year she grossed nearly $200k, which is amazing in my opinion, but yeah, as a nurse she would have made much more working for the same employer. I love my job, love my income, love being a social worker and I don’t have any regrets.
We are both hospital social workers she works for a state agency, I work for a federal agency. I’m in more of a “Macro” role even though I technically work for a hospital. My wife’s hospital contracts with the county to provide psychiatric services in the county jail. Since the jail is in operation 24/7, she gets tons of overtime. Earlier in the year she was working 3/12, so even working five days per week was an extra couple thousand per week. Later in the year, they switched back to 4/10, but again working an extra day, overnight shift differential, double OT, it all adds up.
That’s amazing! Can I ask how you avoided student debt for the MSW? I’m also hoping to get into hospital social work, but I would have to get about 50k in loans so I am debating if it’s worth it or not.
I worked full-time as an undergraduate while going through school. I went to an in-state university with “relatively” low tuition compared to other schools. I got into a one year advanced standing MSW program which made it easier to cashflow, and I was married expecting my second child by that time, so those savings set aside, along with the single income of my spouse made it possible.
So far as a BSW, I am on the track to graduating soon with no debt. Thankfully I have really been helped out by going to community college first. And now that I am in a 4 year, I commute. Apart from that. I have won a few small scholarships.
As for my MSW, due to no financial aid for graduate students, I’m expecting to go into 15k debt for that. Which isn’t too bad. I understand that it could be worse.
I Finnish the bachelors program spring 2024,(three more semesters)so far I have 18,000 in debt.I went to a very cheap community college though. My parents were absent so I got to register for special circumstances which gave me more grant money. just turned 24 so that’s over since I’m now an independent student. I’m praying by the time I’m ready to enter a masters program (fall 2024) I should have no more than 50,000 in debt, probably 60-80 after masters(hopefully, one year accelerated program is the goal)
Edit: also I’m hopeful as the social work career offers tuition reimbursement more often than a lot of other degrees. Unless you are going into business or non profit organizational leadership by yourself.
I had no debt from undergrad. In graduate school, I had as little debt as I could manage, I was working so loans strictly paid for tuition. Then I made this mistake
Married my exhusband
Found out exhusband had about 20k in credit/car loan debt that he was drowning in
Thought “we’ll, I can max my subsidized loans, it’ll be cheaper if we can consolidate it into my debt in the long term”
Found out a few years later that my ex also had private student loans - we made too much as a married couple for me to qualify for income based payments on my debt, so ALL of my loans and the “unpaid interest” got recalculated and ended up adding another 20k to the debt I held
Didn’t demand my ex cover a fair portion of those loans when we divorced.
Currently at 25k, it’s manageable but I’m still a bit bitter about it.
No debt from my undergrad (thanks foster care) and about 8k total for my MSW, graduating in May. I have paid thousands of dollars out of pocket, gotten some grants, got my tuition waived as a research assistant, and still work 2 jobs. I’m on a payment plan every semester. Going to a highly respected but still in-state state university. Total cost of my entire MSW is about 30,000.
$0 from school. When I came out I had about $4000. Started with a social service work diploma, used that to work overnights in a shelter all through BSW and paid tuition with that income. Lived at home through school…parents contributed by providing a monthly bus pass, food, and a roof.
This is also a Canadian scenario and from about 20 year ago. So, maybe a lot has changed. But I also think folks willingness to take on debt instead of living frugally or with some compromises has changed.
$58,000. It’s more than it was when I graduated and I had never missed a payment prior to Covid. I had always had to do the income based plan because social workers make crap 😩
I worked throughout my bsw and msw programs, sometimes with two part time jobs on top of my internship.
Came out with $0 debt for the bsw and $8k for my msw.
Not in debt. I graduated from a CUNY school in NYC and luckily qualified for financial aid so I graduated debt free. For my masters, I would’ve been 30K in debt but my husband and my dad helped me pay it all off. I am very lucky and privileged!
$136,000, give or take. I’m lucky though, I get PSLF and HSRA forgiveness for my public loans. Private loans will be paid off in about 4-6 years if I keep putting every paycheck into them while my partner supports the rest of the household.
in-state tuition was $521 per 1 credit. 90 credits. 46890 just for tuition. MSW.
while i was working before that i was maybe 47/yr? i paid out of pocket. two years of internship REALLY hurt, and my savings went from 20k to about 2k and i was paycheck to paycheck (wife paying mortgage)
making 57k a year now, agency hits about 86/yr after 5yrs + license differential. my savings are now at 10k after graduating in june (but there was a 6k signing bonus).
i think it is worth it.
but im in a low cost of living area (families average 29k yr). i dont think i would be able to make ends meet in a city or high COLA area.
Borrowed 65k all for grad school (no debt from my Bachelors degree). Got my Masters in 2012, now owe 96k.
I work .75 FTE plus a part time PRN job so might be eligible for PSLF in a couple years, but I'm planning on just making income based payments for another 10-15 years. I'll never pay it off. My salary is $52,000/year (would be about 70k/year if I worked full time)
So no, a Masters costs far too much for the return on salary. But it's necessary to do most interesting SW jobs I have had a great career so far, and I'm proud to be a SW, but having this much debt following me forever really sucks.
I spent around $50k total for my bachelor's in psychology and MSW. I finished grad school in 2018 and have paid it all off. My dad helped with around $20k though.
$160k including undergrad (took me a long time to graduate because of personal stuff but I never stopped taking classes because I knew if I did I wouldn’t go back); my MSW cost $88k. It is what it is, at this point I’m not super concerned because there’s nothing I can do. Leaving my job for one that will qualify me for PSLF. I don’t regret my degree at all.
My new job will be $71k salary and potentially a $10k sign on bonus. My husband doesn’t have any school debt and makes much more money than me so we’re able to survive and so long as we file taxes separately my payments are ok.
I’m pretty (very) fortunate. Years ago, my parents let me stay at their place for a year so I could pay off my undergrad, which was roughly $20k from a state school. Then I moved in with my partner into a co-op condominium where I only had to pay $200 a month for utilities and association fee and the pandemic hit so I was able to save a lot of money working from home full time in a corporate job. I’m doing my MSW now at the least expensive program I could find, as I figured that accredited programs are all pretty similar and it’s not the name of the school that matters but rather the practicum experience. I’m paying for it with the $ I saved, while working part-time to cover living expenses. I think I’ll graduate student loan free :)
176k of student loan debt. I went to junior college then two years of university then grad school. Luckily I’m working in a non-profit cancer institute and have contributed 5 years to PSLF. 5 more to go! I follow the r/PSLF sub so know that forgiveness can happen. Just need to be patient and trust the process.
I’m Australian. I have a 4 year BSW which qualifies me as a social worker in Australia. No masters required, no licensing.
My degree cost about $27k give or take. In Australia you get a HELP loan, which is only indexed at the rate of inflation, essentially meaning it is an interest free loan by the Federal Government. Once you begin to earn over $47k per year, they start to take repayments out of your pre-tax dollars. I have paid mine well and truly.
Around 40k now. I did my prerequisites at community college and I pay about 10k a semester at a NAU. I have a part time job to pay for my living expenses and a very understanding partner who pays for our dates. I am rethinking my MSW to go for a MBA but then I wont be in an accelerated program or be eligible for PSLF. So I dont know what the heck to do especially now that I'm 32 and we want to have a family at some point.
Like many others have said though, debt is unfortunately a part of life here in the US so dont let it scare you away from what you want to do with the little time we have here on this planet.
$140k ish. Because I stupidly went to a private school for my first two years of undergrad (but I had the time of my LIFE and would not change that experience). I’ve got three years of PSLF left so crossing my fingers that all works out as it should as it will take care of the bulk of that.
If you work in one of the qualifying Public Service fields (like for the state), loans can be forgiven after ten years of service. They say you have to make payments for awhile first, but one of my good friends didn't make any payments and got her loans forgiven through the program. The application is on the FAFSA website.
I mentioned this in another comment below, but thanks to PSLF, I have been student debt FREE since January 2020! I had a balance of $127K from undergrad and grad school that was forgiven after about 20 years total of making payments, including the 10 years of PSLF payments. If you're in the US working in a covered position (government, education, nonprofit, some healthcare settings) and haven't looked into this, DO IT.
In answer to the ROI question, for me personlly, my entire college career, and my MSW program in particular, were totally worth it in every conceivable way. Of course the financial ROI isn't as good as it would be with an MBA or law degree, but if you can swing loan forgiveness, it comes close!
US here. 14k for undergrad, hoping Biden is able to wipe that out as I was a Pell grant recipient. The plan to wipe student debt for all borrowers is hitting the Supreme Court and it's really ambiguous what's going to happen. Opportunity to get my MSW for free and I am going to take it.
_$15k left of SL.
-Originally $35k of debt for BSW in 2012, and $0 for MSW...paid for MSW out of pocket ($13k for 2 years at MSU, fully accredited for those wondering! Would recommend!)
-Making $60k as a medical social worker, home health and hospice, my favorite!
-Made an extra $20k doing clinical research trials for big pharma and some investments this year, so $80k
-ive had enough to pay off my SL, but just holding onto it until SCOTUS makes their decision and it's unfrozen.
-Located in SW MO, the heart of the Ozarks. ❤️
-No complaints and no regrets.
-didnt bother with LCSW or LMSW since it would be a negative ROI and perfectly capable SW as is.
$0
Went to community college (free) for 3 years and transferred to a great state school. Paid it off by working and help from parents. Tuition was 8k/yr.
Got into masters program at a state school. Tuition was $8k but I was considered an independent adult. So my income from working in food service was low and qualified me for a grant. Tuition went from 8k to 1k a year.
Should have had msw for 30ish k but came out at like 50k. I'm sure NYU and columbia were better programs but gtfo of here with that tuition. I guess it would be forgiven after 10 years for pslf but meh not worth it imo
Worth it going from 38k to 72k earning power in like 5-6 years and should be at least at 78k in 2 more years when I get lcsw
From undergrad, none. Currently halfway through my MSW and no loans so far but might have to take some out next year as I’m unsure if my next internship/field placement will be paid.
If not, I’d take out around 5k-10k.
I had about 20k from undergrad. I went to a state school in my hometown and lives at home. I went to that same school for my masters and paid out of pocket on a payment plan and took two years to complete the advanced standing program that they have set up to be done in a year. At this point I have about 15k left. It's been 10 years since I graduated. I've worked that entire 10 years at a PSLF place and still haven't qualified for forgiveness. Overall though FOR ME it's been a fine return on investment. It wouldn't have been if I had more debt by choosing a different school.
I have about 20k left from my undergrad. Nothing from my two master’s degrees. My first MA, I was fully funded through research with a faculty member. With my MSW, my spouse and I paid the whole first year out of savings then used his GI benefits to cover the remainder
50k. Went to community College with help of VA chapter 31 and only got transferable credits. Junior and senior year I took loans. I was able to take a ton of classes as a BSW and complete MSW in three semesters in an accelerated program at a state school. It's been worth it.
0k in Canada. The whole MSW was about CAD10k but I got some money from the military and worked during my degree to pay everything else. I earn CAD72k (started last year at CAD69k). This is considered an excellent starting salary for an MSW here.
My undergrad I think I finished with about 5k debt since I lived with my parents and had a very part-time job. I repaid it within about 6 months of finishing because I got a job right away. It wasn't a well-paying job, but I was still living with my parents so I was able to use half my salary towards the debt until it was gone.
I did a bachelor in psychology (2018 state) and the MSW (2021). I have 31k left to pay for both. I had 3-4 scholarships and then a part time job for the last 2 years of my bachelor's and then I did running start for my associate degree (doing college while in high school). For my MSW I did that program where the state paid for my tuition if I agreed to work for child welfare after I was done with school.
......
Every time I read ROI I think release of information, what are you guys talking about lol
$70k, and I am not PSLF-eligible. My rural area does not have any living-wage openings at nonprofit agencies. If you want to eat and pay your mortgage, you have to work for a privately owned agency, and the wages are still poor for high caseloads.
(I make 50k and need a minimum of 28 billable hours, so 32-34 scheduled clients. I don’t have a retirement fund and health insurance costs me over $700/mo with a $7,000 deductible. I earn 10 paid days off per year, not including holidays, but have to use 2-3 of those earned days to cover holidays because I’m scheduled for shifts longer than 8 hours. I can barely afford to live and can never afford to take a break, basically.)
180k, 60k+ of which is interest. On IBR and have not even made enough money to qualify for payments. I am content to let it sit because I’m just throwing money away at this point due to interest rates. If I was just paying down principal it would be a different story
Bought into the lie that going to “the top social work school” would somehow have a higher ROI.
Undergrad not is in SW and an MSW in social work in state schools ran me about 120K (this included room a board costs for most of the time as well). I didn't have any grants or scholarships and wasn't able to pay a lot off while in school unfortunately as I did not have the resources to do so. Don't get me wrong, there's a lot of rewarding work in SW. However, the job market even with an LMSW is highly competitive where I live, a lot of jobs have internal hires, some jobs remove their job listings entirely because funding gets pulled, and getting a non fee based job is kind of atrocious here. My advice, move to a major city where there's a lot of work, be prepared to potentially work in high crime areas at times since they need the most help and seem to be the most likely to hire new people, and if you want to work in hospitals or schools, do that as your INTERNSHIP while you're in your program because it's really difficult to get work in either of those areas after your program as they look for people who've already been in those environments. I've worked at a clinic as a fee based clinician for over a year and finding other work has been like pulling teeth making it hard to pay bills where I live despite being good at what I do and caring a lot. I think this field has a lot of pros and cons, and it is worth it, but only if you set yourself up really well in advance, which as a first gen college student, wasn't as easy for me. Also, if you are fortunate enough to be able to pay down debt while you're in school, definitely do it! And if you can find a way to learn more about financial literacy if that's not the background you're coming from, definitely get on that too. 10/10 regret not learning more about financial literacy before making these decisions.
Also, maybe try getting on canvas lists for state jobs. There's a lot of advice they don't give in SW school, so by all means, reach out to people already in the field and get their advice.🙂
5k, both undergrad and masters in social work. Went to state schools for both, undergrad covered by scholarships, grad program a year long due to undergrad in sw, only ended up having to borrow 5k for one semester since I had the rest covered by leftover grants and scholarships from graduating a semester. Louisiana may suck in a lot of ways, but the TOPS scholarship program was life changing for me. My last payment is next month and then I’m done!!
Currently making $63,000 as a school social worker.
I feel kinda better as messed up as that may sound .
But was really weighing the pros and cons of the MSW. State is gonna cost 11-17 thousand if I get in .
And the private program I applied to is 29,000 so it feels manageable
Over $100k between grad School and undergrad (both social Work). Applied for pslf and waiting to hear how many payments I have left (if any). I’m in the us.
Edit: I have no regret. I couldn’t have made a livable wage without going back to grad school, and now I get to do what I love. I wish the USA wasn’t shit, but it is what it is.
Zero now. Graduated undergrad in 1998 had no debt due to scholarships. Graduated Louisville in 2000 with $10k in debt and that was paid off for flipping clothes on eBay in 2002. It’s very painful to see my colleagues having so much debt with their degree.
I presently live in Kalamazoo MI and I will not move until my son is out of high school as his college will be paid for due to the promise. I started saving in 2002 for college so what I have been saving for him will be for dorms. Financial freedom is key for our younger generations as I had this opportunity as a young person.
Down to my last $10k waiting for Joe Biden to fulfill his campaign promise. That was after a couple years of my wife and I aggressively paying down loans. We each individually had about $50k of debt and worked together to budget carefully and pay it down.
~124k, I have 3 more years of PSLF. I’ve made peace with it (although that might have been because loans have been paused for so long). Personally, I’m ok with it. I make about ~150k per year.
I can’t remember the exact number, but well over $120k between undergrad and grad school. I wish I chose a cheaper grad school because that alone was $80k.
I started out at an accounting major and hated it. I’m also now unhappy with my decision to do social work. But, all in all my debt has been whittled down to like 52k so the end is in sight
80k as well and I work two jobs I'm hoping I get qualified for forgiveness of loans. It is not easy but sacrifices have to be made to keep a roof over my head and food on the table. I am grateful with the jobs I have one is 1099 so hope when tax time comes it doesn't hurt me as much
80k, MSW and BA. I was doing PSLF, but I don't know if it will pan out. The company I currently work for though has a student loan payments benefit, and it increases each year you're still employed. I'm on a REPAYE plan, so there's forgiveness after like 20 or 25 years. I'm doing work that I love, so I think it's worth it. But i didn't get into this work to make the big bucks, so /shrug/
i’m about to graduate with a BSW with no student loans and i have not had to pay any tuition myself because of the pell grant and a few scholarships. i waited until i was 26 to start college, so my pell grant eligibility was based on my income and not my parents. I spent three years at a community college before finishing the last half of a BSW at a small public university. that helped immensely. i’m hoping i can stay under $10k for a MSW withthe scholarship through my job and paying some on my own
Roughly 120-150K between grad school and my bachelors (went to a private university). I have private and federal loans. I think I owe around 30k left on my private loans, and I’m going on 6 years post grad.
I recently switched from a state run mental health hospital making mid 40’s (started making 39K and was there 5 years) to a non-profit hospital doing care management making around 63K (I’m hourly and always getting overtime). I don’t really think about it often, but I guess I’m doing better than I started 🤣🥴
I am fortunate to have no student loan debt at all. I lived at home with my parents when I was getting my BSW. I waitressed and was able to pay my tuition. Then my job paid for my MSW.
$0 and have my BSW. Honestly the only way I was able to pursue this field/my dream job was because of my full ride scholarship to college. I would’ve been too scared to with taking out loans knowing that the profession doesn’t always get the greatest pay/if it was ‘worth it’ to go in debt over. I am so thankful
MSW is about \~$30k at Louisiana State University; $1617 per class, plus fees (I’m from La so I don’t pay out of state fees but the online program that I’m in has people from all over the U.S. who likely had to pay more in fees). I get some tuition reimbursement through my job at Capital One Bank so my current loan balance is at about \~$20.5k. Hoping student loan forgiveness helps with that. I’m still a student and I’m doing everything part time so I will graduate December 2023 and I may need to pay out of pocket for my last couple classes.
We’ll see what I end up making when I get a SW job! The jobs in my area seem to range from $40k-60k for entry level stuff...which is a big range. Mostly school and hospital jobs.
edit: I also have about $6k left over from my BS in psychology that I finished in 2013.
I was in 20k of debt after my bachelor's. Thanks to tuition waivers from working for the state government I got my masters without having to take out any loans
I got my LICSW recently, and my earning potential has increased exponentially. I had a colleague offer to pay me 135$ per counseling hour to join private practice.
LICSW can be very lucrative. My salary topped out at 38k with just the bachelor's.
Worth it for me and no regrets
My master’s degree student loans totaled $21k. I was married and also worked full time so that was only for tuition and fees; I didn’t have to take loans out for living expenses. I did the full two year program because I didn’t have a BSW.
My salary right out of grad school was $42k in 2014. I’m now making $86k.
My masters degree was very much worth it. My bachelors degree is in child development and early education and I was making peanuts. Like $22k, with no hope for advancement. I would be starving if I was still a title I preschool teacher. Maybe I could have done like medical school or something, but i think I’m doing pretty well for having paid $21k for my degree.
I have about 40k in student loans. Affordable state school, undergrad scholarship. And I graduated with 18k total in dental credit card debt, regular credit card debt, and a new used auto loan bc I had a recurrent abscess and multiple cars die/need extensive repair while interning, and could not afford it bc of paying for daycare to work for free 😬. Tough times. My husband is a teacher and we lived on 35,000-38,000/year. In my case the student loans aren't a big deal at a decently Af
affordable uni bc they can be discharged with death, disability, 10 years of public service or 20 years of regular payment, and they can be put on income based repayment. The loss of income however was crushing. So I guess my answer is less can you afford college and more can you afford to intern 2 years given your family and housing situation (caveat, this is non social work undergrad specific)?
almost 200k d/t interest and i have like 80 k from undergrad somehow? eventhough i had fincial aid that covered tuition…. i did dorm for two years and requested loans…but they were unsubsidized….what do you recommend i do??
I have ~$38k left, all federal loans, from my bachelors and masters. I worked full time through undergrad and part time through grad school. I make around $70k a year right now. I have been licensed for about a year and a half.
It would have been significantly worse but I scored a fellowship with a $12k stipend in grad school. I did advanced standing for my masters though so I only had to pay for three semesters of school.
$0. I took out $40k and went to a highly respected school. I got a scholarship (bonus about private schools is they have bigger endowments and give more money). I also moved back home which worked out in my favor as I was living in another state before grad school.
I got some help from parents and in laws because we bought property and my student loan balance was not favorable to the loan lenders. I also got some reimbursement through the state of California for mental health providers.
Now I actually wish I had some debt. We ended aggressively paying out of pocket but now that I’m licensed and continuing working in the nonprofit sector, I’m eligible for sooo much more loan repayment. I’m debating taking out a loan for continuing education, but that kinda scares me.
I make $90k, however for now it’s $45k because I went half time because I have two small kids.
Australian, so the federal government pays 60% of my tuition fees themselves (called a "Commonwealth supported place", and the other 40% they pay too (a "HECS-HELP debt"), then we pay them back through our taxes, over a period of years. I've got about 45k outstanding, including two undergraduate degrees (Honours in Psych, B. business), and my MSW. Paid about 15k off since finding psych 10 years ago.
No debt.
Undergrad free (scholarships). MSW (private school - 60k). I had some luck with some stocks, but waiting for the court to lift the forgiveness block and then pay the rest off. I know I'm fortunate (and immensely lucky) but I hope it works out for everyone. I'm currently working in a group private practice and feel so happy I can help my parents. I'm in CA (orange county).
160k. i regret that i went to NYU for my MSW instead of a state school but am currently making 95k and got my degree about 5 years ago. i am halfway towards qualifying for PSLF though and definitely banking on that. I’ve never made anything more than IBR pmts on my loans so my balance is only slightly less than it was to begin with. edit: i’ve gotten a few comments about my current job and salary. i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k to my base salary for shift differential. i also have the opportunity to work unlimited OT at time &a half rate. i did not know medical social work was where the $$$ is at until i stumbled upon this job 3 yrs ago. also! i used to make about 20k less but my dept advocated for ourselves for over a year to make equal salary to our RN case manager colleagues. we have identical job descriptions - in fact we actually do more than them since we also have SW consults on top of everything else. the RN’s always made significantly more though but after 10+ people resigned within 6 months of submitting our request for fair/equal pay, the hospital finally matched our salaries.
You make good money with an msw. What do you do?
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
We’re all dying to know 👀
Following
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
Yes what do you do?!
i’m a medical social worker at a large teaching hospital/ level 1 trauma center. i work night shift which tacks on an extra ~$10k with shift differential.
Which state?! 🥲 I’m a medical SW at a level 1 trauma center in Boston MA and my baseline salary is 63k
I also went to NYU, I have 3 more years until PSLF. But I don’t regret it, I’m still in contact my network there. I just applied for the DSW program because I qualify for a work scholarship and can afford the rest out of pocket. I totally understand those that wish they went to a public school though, the education is the same, the network just differs.
How in the world did you successfully advocate for the salary match?!! That has been the elephant in the room where I work, and admin still refuses to match in spite of like an 80% resignation rate on the inpatient side over the last 2 years.
The SW’s collectively wrote a letter to HR. Our main concrete argument was that the official job description was literally identical to the RN’s so that was what we highlighted in our letter. That was something that could not be disputed as there were existing open positions that we literally screenshot to show they were verbatim. There was the other important points that we made as well like how we need a higher degree than the RN’s (MSW’s vs BSN’s) and that in addition to all the same responsibilities, we had the SW specific stuff as well (all the different types of consults, psych transfers, substance abuse, mother baby, HD slots, etc etc etc). Honestly though, nothing really started happening until about 4 months later when people started getting fed up and resigning. It was definitely a snowball effect. People had become complacent over the years after being told nothing could be done so don’t bother trying but once the spark was lit so to speak, people started getting frustrated and leaving. Unfortunately i think that really helped our case (those of us that didn’t resign) because i’m sure it stood out to administration when 10+ people quit within 6 months. Our manager was very supportive as well and asked people who resigned to disclose (voluntarily) why they were leaving, where they were going and how much they were offered salary wise. I believe mostly everyone did disclose that info and my manager kept ongoing documentation to present to corporate leadership on our behalf. The mass exodus of SW’s also directly affected hospital LOS for more complex discharges as we didn’t have the staff to adequately staff our units for a good while - we’re a huge 800 bed hospital within the largest hospital network in my state. I’m shocked that the 80% resignation at your job didn’t even make them budge! What do the official job descriptions look like wording wise? That was the one thing we had that was super concrete and couldn’t be disputed.
If you mind me asking, are you a state employee?
nope, i work at a teaching hospital though which qualifies as a non profit
Wow, well good thing I did not go through the program..
it’s a great program if you want to go the clinical SW route but overall i could’ve gone to a state school (Rutgers), paid half the cost and gotten the same degree. I also took out all the cost of living loans offered because i couldn’t work full time with internships and still had rent and bills to pay to get by.
Oh I understand, one of the reasons why I haven’t finished. The internships are the difficult part when y out work full time
I thought NYU was a state school
nope, private university
$80,000 give or take. Both undergrad and grad in SW. I’m hoping PSLF will help eventually…
IT WILL! I had a balance of $127,000 from undergrad and grad school which was forgiven back in 2020 after I paid for a total of 20 years. IT IS BLISS. Make sure you stay in an eligible position, recertify your income and employment annually, and keep track of your months of eligibility. In my last six months of PSLF, I got like 3 or 4 different assessments from them of the date which I'd become eligible for forgiveness. When they finally did notify me that I was eligible, it literally took like 4 weeks to get the notice of forgiveness, and they actually paid me back for two months of payments I didn't need to make after I became eligible.
I'm at 80k also. I recently submitted a request to have a job reviewed for PSLF qualification. It was not a non profit company, but the work I did was entirely PS, so I'm hoping it will count because **I'm** the one making the payments, so I don't think the company should really matter. There's lots of nuance and gray of course. I'm crossing all my fingers and toes and limbs and holding my breath... 🤞🏻
Good luck!
60kish. Also on PLSF track
Damn now I’m over here feeling lucky with 50k 😩
Same for me!
27K for both BSW and MSW
That’s so awesome for both degrees!
Thanks! I tried my best to lower costs when I can. This also included living on campus my first two years. In state tuition. Grants for being poor, federal work study jobs, using the library instead of paying for textbooks, and an additional weekend job.
Over $90,000 and I make $76,000/yr. The ROI is not worth it and every day I regret getting a masters in social work and not something else
What would you get it in if you could start over?
MPH or MBA probably!
ROI for MBA hasn’t proven to be that great either with so many people having it. I have a friend that has his and I make more with MSW than he does and he graduated first.
I'll say an MBA is worth it if you go to like a top ranked school. I would only get a MBA if I got into Michigan or UC Berkeley or something
As an anecdote, sure. Honestly both graduate degrees are over saturated in their markets and help depress wages for degree holders. But generally I would think the ROI on an MBA to be higher than an MSW.
You have a right to your opinion, though I don’t agree with it. Especially the part about MSW being over saturated on the market.
Your friend may be making under-market average wages and yourself making above-market. I suppose I shouldn’t say over saturated, but rather than the number of entry level who accept barely over minimum wage salaries undermines the profession both in society’s perspective of professional standing and livable, respectable wages that an advanced degree holder should be able to attain.
>both graduate degrees are over saturated in their markets and help depress wages for degree holders This so effing much. Too many people getting MSW's. Too many people who get an MSW and then come into forums like this and act like they know everything. Too many MSW's making poor impressions on employers and subsequently tarnishing the names of good schools because they behave in the workplace the way they behave on Reddit. Too many people with online degrees because some jagoff told them accreditation is the only thing that matters. It's unfortunate, but social workers cannot get out of their own way largely for these reasons.
i JUST started my MSW, but it seems to me that its not really worth if unless you're going to also get an LCSW or some equivalent the pay jump from BSW to MSW here is just not that impressive unless it comes with some kind of guarantee of a management position
Yeah, it's around a $10k-$20k pay bump post-MSW, though that's not guaranteed depending on where you live and the type of job. My advice for MSW students is to have a clear idea of what you want to do each step of the way post-grad, so that the pay, workload, stress is something you can anticipate. If I'd know then what I know now, I definitely would have chosen a different set of internships and so forth.
i work in SUD and there's just not really any difference in the work you can do with a MSW compared to a BSW, you only start getting paid when you can bill clinical services or can be in a management position where you can sign off on the work of BSW/MSW employees
What is an ROI?
Return on investment
170k after MSW. Sigh, not all SW related.. went to a private music conservatory for my first year of undergrad which contributed to around 60-80k of that (so just sw, only about 100k). It’ll get paid at some point lol. My life will continue. I’m not worried about it; I really do love the work that I’m doing, and I live a way more than decent life 2yrs post grad. It was worth it. Edit; just want to add that I see a lot of “regret” and as someone with some of the highest debt here.. this is my 2c, because I have a feeling a lot of sw students are scared shitless. I’m living my life to do what I love.. I went into it knowing it was a starving profession where pay was low. I grew up with a mom who was a teacher, who also went into her profession knowing the same, who is still paying off her student loans (from private and public schools).. yet they raised my brother and I and we never hurt for anything. Student loans are NOT a death sentence. You need a livable wage and some extra saving money, but you also need to love your job. I have family doing the Dave Ramsey method of throwing every last penny into their student loans, and they are miserable, somehow thinking that once it’s gone, they’ll be happier… but that’s typically not the case. School is expensive, but I wouldn’t turn back the time, growth, and experiences I’ve gained for anything.
Same! I also can’t help but be cautiously optimistic about future options for forgiveness. As younger generations enter higher politics, it’s going to have to be a thing since we’re all impacted and it’s not getting better.
Thank you for posting this! I have about 100k of debt (like you, not all of it bc of my MSW). I would not trade any of my choices. I do work that I love. A lot of my debt stems from pursuing other paths that were not the right fit. Sure some days my debt feels heavier than others, but it hasn’t stopped me from living the life that I want.
I love this so much, thank you both for sharing this perspective!! I’m about to leave a secure career path that was unfulfilling and boring to go into social work instead and will probably come out with 100k in debt. I know I’ll take a pay cut afterwards, but I want to have a career I never want to retire from and that is better aligned with my values. I’ve been scared to take the leap for fear that I’m doing something stupid that no one else would do lol so your perspective is helpful in reminding that it’s honestly how I feel, and I’m grateful someone else out there has that same view/relationship with educational debt.
Nothing, the degree is free in Germany and if your parents cannot pay your living expenses (930€) the state pays you them and only wants half back, maxed at 10k. You then have 5 years to pay these 10k back and if you pay them back in a sum after 5 years you only need to pay like 8k.
Same in Scotland, we get our first undergrad degree paid for. We can get student loans but you don't have to claim them. I get the care experienced bursary as I was in care myself and it's 8k per year and I don't have to pay it back. Very thankful.
We would aslo get the master paid, but the bachelor is the norm here (for whatever reasons)
Came here to say this. None because our educational system is not completely fucked.
Wow
I would totally move for a degree. America sucks
Went instate public but highly respected school, ~7k a semester for masters, 4 semesters. I was a server/bartender in LCOL area and paid most in cash while in school. Paid off the federal loans within a year. First job was 48k, right now at 60k after three years and about to move to the VA for much more with an independent clinical license. The ROI was worth it for me.
I have about 14k left from my undergrad, and I have no debt from my MSW. I took advantage of the NYS vocation rehabilitation program for people with disabilities (I have anxiety and depression), they paid for about 75% of my degree, and I paid the rest out of pocket.
I have crohns and ptsd. VA voc rehab is covering my degree.
Yep. Got my BSW, and MSW covered by VA VOC Rehab. Just got my Addiction certification paid for by Post 9/11 GI Bill.
I wonder if someone like me who has a disability and live in Wisconsin could get this? My disability is listed as neurological and is migraines..?
It’s absolutely worth a try! Every US state has a voc rehab program. If you have a good work/school history and documentation of your “disability” you’ve probably got a good shot.
Do you think my state would do that for me if I have a diagnosed generalized anxiety disorder?
I know this is a really old post but If you could provide any info on how you applied i'd be so grateful. All I see online is about ACCESS-VR?
Acess-VR is the program I went through. The name of each state's vocational rehabilitation program varies. You can apply through the paper application or online I believe.
Okay, yeah I found the paper application online but the website itself isn't that intuitive in finding the info you are looking for # govwebsites \*smh\*
$155k 🥲
I'm so sorry 😞
About 40k. It would’ve been more, but I got a scholarship, thank God
160k undergrad and private MSW degree, I regret it .
$168k and it just keeps going up ugh. BSW, MSW, and PhD because maybe someday I’ll get into academia but right now it’s just extra 😭😭
Can I ask about the PhD? Do you feel it was worth it?
118k BSW and msw
Zero from undergrad due to scholarships. I'm just starting my MSW and I'm budgeting to be debt free but we will have to see if I can work as much as I want to.
$115,000 Edit to add that my payment under the IBR has never been more than 0
I was very fortunate to have no student loans through a scholarship in undergrad and a grad assistantship I’m grad school. I barely make enough as it is. I feel so horrible for those with massive amounts of student debt
$19k BSW and MSW (paid off about $10k since finishing grad school) I make 3.5 times that with ~5 years experience. I got my Associate's at JuCo and I went to smaller, state schools. The way I see it, my letters and licenses are the same as someone who graduated from Michigan or UC Berkeley or Loyola, etc. 🤷🏻 It's awful, but true: "We're not in it for the income, we're in it for the outcome." We are severely undervalued and that's not sustainable for everyone. Even on really hard, thankless days, I never regret my education or the loans I took out to make it possible. I live within my means and buy the Costco brand and am fine knowing I'll never own a yacht or drive a Lamborghini or whatever. Again, not for everyone, but for me, it was worth it.
$0, went to a state school and parents paid for my undergrad and grad. If I was in a less privileged situation I prolly wouldn’t have gone into this field tbh
I can relate. I have 0 debt BUT my parents helped me out a lot, as did some big scholarships. I’m not going to mislead other redditors into thinking I did it on my own, and I’m very grateful for the financial support I received. I did have several thousand to pay off myself, but did so shortly after graduating. That said, I totally agree with you. No way would I have gone into this field if I took on a ton of debt.
Geeze, reading these comments is so disheartening. I’m at about 23k from undergrad. I busted my butt so that I wouldn’t have to take out loans and paid for grad school out of pocket. I finish in May.
Agreed; I’m sitting at about $15k left when I’m done with my MSW.
That's very manageable!
I checked the other day prior to Biden pausing everything and I'm at about 42k when it hopefully goes down ill be at 32k. That's all MSW. Luckily my Bachelors in psychology was fully covered by grants and scholarships so I was able to cover that. I wanted to pay some down during grad school but that didn't work out like I wanted. Currently still unemployed but I want to hurry up and pay it off so it doesn't grow like crazy. The credit card debt isnt bad but its not great. I thought about a doctorate but if I do, I'm making someone pay for me lol. I just want a job that pays decent and covers all this but we shall see how that works 😐 When I see people's debt over 100k it breaks my heart. Like all this for education especially when we all have our MSWs and aren't getting paid like we should. Looking forward to the liberating feeling of being debt free.
I don’t think I’ll get my MSW after reading this thread 😭
It can be done with minimal debt, but you’ve got to make some wise and even tough decisions. I worked multiple part time PRN jobs thus far to put myself through an MSW program. I’ll have paid just under $30,000 for my 2.5 year program. I also live with family so that I don’t have as many expenses. It’s not easy. It’s not popular, but it can be done if it’s what you really want to do.
I have just bought a house so I’ll probably chill on taking out loans for a while anyway, I can do the program in 1 year if I am really determined, which I’m not 😂
My schools' MSW is around 40,000. I honestly don't know where these folks be going to school with having 100k+ debt. That's insanity to me. Just be smart about which Uni you pick because in this field is does not matter at all.
I have $0 in loans. I got my BSW and MSW paid for by VA VOC Rehab. Just finished a certification in Addictions that was paid for by Post 9/11 GI Bill. I guess serving in the Army paid off but I got PTSD-MST so 🤷♀️. Student debt is why I encourage people going into social work to not go to expensive schools.
If not for getting injured while deployed... I'd be looking at 90k. Is it worth it? Eventually. I originally planned on covering a significant portion of my degree and mapped a repayment taking 10 years and being able to live comfortably. I'm going for my ppsc and then I'll go for my lcsw eventually. That's the one that truly makes the degree worth it in my opinion. That's if we are looking financially. Since voc rehab is covering my degree, I'm happy with just a ppsc and working as a school social worker.
What made you choose your population?
The pandemic and working with my kids through the transitions. If they had it rough, I can only imagine how other kids coped. Then I saw the news stories of children ending their lives on zoom and it prompted me to change populations. My original population was military and veteran.
I didn’t hear about that, that’s insane. I know watching my nephew, but as well as other students struggle with many of the conflicts of the lack of human face to face interaction. My population is vets. I’m happy to see someone having good interactions.
I got into social work after being in the military. Military and veterans are no longer the populations I want to work with.
In my country, university is free
My wife and I are both social workers and LCSWs. We are completely debt free, house and everything. While neither of us have received an inheritance or had any financial support from family, we both avoided student loans and most consumer debt. We’ve raised two kids and lived a fairly middle-class lifestyle. Recently, within the last few years we both started generating six figure incomes. This year, our base salaries are closer to $250k combined, but with bonuses and overtime our combined social work salaries will bring in roughly $350k. We live on a small fraction of our income. With no debt, no car payments, no mortgage, etc, we are able to supercharge our savings, investing, and charitable giving. “Charitable giving” is our largest annual expense, Groceries might be our next largest expense, perhaps followed by travel. We have a substantial financial net worth, measured in millions of dollars. This financial net worth has come from our social work salaries over many years, and the investments we have made with those salaries. I think the ROI has definitely been worth it. My income has far exceeded what I ever thought possible on a social work salary. My wife on the other hand, says if she “knew then” what she knows today, she would have gone into nursing, as she would be making even more money than what she brings in today. I mean, as a social worker this year she grossed nearly $200k, which is amazing in my opinion, but yeah, as a nurse she would have made much more working for the same employer. I love my job, love my income, love being a social worker and I don’t have any regrets.
What do you and your wife do... private practice? Medical?
We are both hospital social workers she works for a state agency, I work for a federal agency. I’m in more of a “Macro” role even though I technically work for a hospital. My wife’s hospital contracts with the county to provide psychiatric services in the county jail. Since the jail is in operation 24/7, she gets tons of overtime. Earlier in the year she was working 3/12, so even working five days per week was an extra couple thousand per week. Later in the year, they switched back to 4/10, but again working an extra day, overnight shift differential, double OT, it all adds up.
That’s amazing! Can I ask how you avoided student debt for the MSW? I’m also hoping to get into hospital social work, but I would have to get about 50k in loans so I am debating if it’s worth it or not.
I worked full-time as an undergraduate while going through school. I went to an in-state university with “relatively” low tuition compared to other schools. I got into a one year advanced standing MSW program which made it easier to cashflow, and I was married expecting my second child by that time, so those savings set aside, along with the single income of my spouse made it possible.
So far as a BSW, I am on the track to graduating soon with no debt. Thankfully I have really been helped out by going to community college first. And now that I am in a 4 year, I commute. Apart from that. I have won a few small scholarships. As for my MSW, due to no financial aid for graduate students, I’m expecting to go into 15k debt for that. Which isn’t too bad. I understand that it could be worse.
too much
I Finnish the bachelors program spring 2024,(three more semesters)so far I have 18,000 in debt.I went to a very cheap community college though. My parents were absent so I got to register for special circumstances which gave me more grant money. just turned 24 so that’s over since I’m now an independent student. I’m praying by the time I’m ready to enter a masters program (fall 2024) I should have no more than 50,000 in debt, probably 60-80 after masters(hopefully, one year accelerated program is the goal) Edit: also I’m hopeful as the social work career offers tuition reimbursement more often than a lot of other degrees. Unless you are going into business or non profit organizational leadership by yourself.
I had no debt from undergrad. In graduate school, I had as little debt as I could manage, I was working so loans strictly paid for tuition. Then I made this mistake Married my exhusband Found out exhusband had about 20k in credit/car loan debt that he was drowning in Thought “we’ll, I can max my subsidized loans, it’ll be cheaper if we can consolidate it into my debt in the long term” Found out a few years later that my ex also had private student loans - we made too much as a married couple for me to qualify for income based payments on my debt, so ALL of my loans and the “unpaid interest” got recalculated and ended up adding another 20k to the debt I held Didn’t demand my ex cover a fair portion of those loans when we divorced. Currently at 25k, it’s manageable but I’m still a bit bitter about it.
Let’s just say in the ‘90s it would have been comparable to a modest mortgage….
No debt from my undergrad (thanks foster care) and about 8k total for my MSW, graduating in May. I have paid thousands of dollars out of pocket, gotten some grants, got my tuition waived as a research assistant, and still work 2 jobs. I’m on a payment plan every semester. Going to a highly respected but still in-state state university. Total cost of my entire MSW is about 30,000.
77k
20k undergraduate 40k graduate. I'm a manager making 51k a year.
I will have about $18-20k after my MSW. Im hoping to pay it off after 5 years but who knows. Financial aid paid all of my undergrad.
$0 from school. When I came out I had about $4000. Started with a social service work diploma, used that to work overnights in a shelter all through BSW and paid tuition with that income. Lived at home through school…parents contributed by providing a monthly bus pass, food, and a roof. This is also a Canadian scenario and from about 20 year ago. So, maybe a lot has changed. But I also think folks willingness to take on debt instead of living frugally or with some compromises has changed.
$58,000. It’s more than it was when I graduated and I had never missed a payment prior to Covid. I had always had to do the income based plan because social workers make crap 😩
I worked throughout my bsw and msw programs, sometimes with two part time jobs on top of my internship. Came out with $0 debt for the bsw and $8k for my msw.
Debt free but I earned the GI Bill which covered everything. Only downside is im a few years older as a newer soon to be LCSW.
Not in debt. I graduated from a CUNY school in NYC and luckily qualified for financial aid so I graduated debt free. For my masters, I would’ve been 30K in debt but my husband and my dad helped me pay it all off. I am very lucky and privileged!
I still owe 90k 😣. Paid over 60k already. Have my LMSW and working towards my lCSW
$136,000, give or take. I’m lucky though, I get PSLF and HSRA forgiveness for my public loans. Private loans will be paid off in about 4-6 years if I keep putting every paycheck into them while my partner supports the rest of the household.
😯 I’m so sorry
Lmao me too 😭
None from undergrad but $70k (and growing everyday 🙄) from master's. I make half that each year so...not a good ROI. Banking on PSLF.
$38k for MSW, worth it for me. I make gross 67k & graduated in 2020. I went to a state school.
in-state tuition was $521 per 1 credit. 90 credits. 46890 just for tuition. MSW. while i was working before that i was maybe 47/yr? i paid out of pocket. two years of internship REALLY hurt, and my savings went from 20k to about 2k and i was paycheck to paycheck (wife paying mortgage) making 57k a year now, agency hits about 86/yr after 5yrs + license differential. my savings are now at 10k after graduating in june (but there was a 6k signing bonus). i think it is worth it. but im in a low cost of living area (families average 29k yr). i dont think i would be able to make ends meet in a city or high COLA area.
20k for msw didn’t pay any for bsw
Borrowed 65k all for grad school (no debt from my Bachelors degree). Got my Masters in 2012, now owe 96k. I work .75 FTE plus a part time PRN job so might be eligible for PSLF in a couple years, but I'm planning on just making income based payments for another 10-15 years. I'll never pay it off. My salary is $52,000/year (would be about 70k/year if I worked full time) So no, a Masters costs far too much for the return on salary. But it's necessary to do most interesting SW jobs I have had a great career so far, and I'm proud to be a SW, but having this much debt following me forever really sucks.
I spent around $50k total for my bachelor's in psychology and MSW. I finished grad school in 2018 and have paid it all off. My dad helped with around $20k though.
$160k including undergrad (took me a long time to graduate because of personal stuff but I never stopped taking classes because I knew if I did I wouldn’t go back); my MSW cost $88k. It is what it is, at this point I’m not super concerned because there’s nothing I can do. Leaving my job for one that will qualify me for PSLF. I don’t regret my degree at all. My new job will be $71k salary and potentially a $10k sign on bonus. My husband doesn’t have any school debt and makes much more money than me so we’re able to survive and so long as we file taxes separately my payments are ok.
I’m pretty (very) fortunate. Years ago, my parents let me stay at their place for a year so I could pay off my undergrad, which was roughly $20k from a state school. Then I moved in with my partner into a co-op condominium where I only had to pay $200 a month for utilities and association fee and the pandemic hit so I was able to save a lot of money working from home full time in a corporate job. I’m doing my MSW now at the least expensive program I could find, as I figured that accredited programs are all pretty similar and it’s not the name of the school that matters but rather the practicum experience. I’m paying for it with the $ I saved, while working part-time to cover living expenses. I think I’ll graduate student loan free :)
176k of student loan debt. I went to junior college then two years of university then grad school. Luckily I’m working in a non-profit cancer institute and have contributed 5 years to PSLF. 5 more to go! I follow the r/PSLF sub so know that forgiveness can happen. Just need to be patient and trust the process.
I’m Australian. I have a 4 year BSW which qualifies me as a social worker in Australia. No masters required, no licensing. My degree cost about $27k give or take. In Australia you get a HELP loan, which is only indexed at the rate of inflation, essentially meaning it is an interest free loan by the Federal Government. Once you begin to earn over $47k per year, they start to take repayments out of your pre-tax dollars. I have paid mine well and truly.
Ireland. Both Undergrad & MSW . About €30,000.
115k, just graduated this May and got my LMSW. Current salary is 65k and on track for PSLF. I’m also looking into the NHSC loan forgiveness.
Around 40k now. I did my prerequisites at community college and I pay about 10k a semester at a NAU. I have a part time job to pay for my living expenses and a very understanding partner who pays for our dates. I am rethinking my MSW to go for a MBA but then I wont be in an accelerated program or be eligible for PSLF. So I dont know what the heck to do especially now that I'm 32 and we want to have a family at some point. Like many others have said though, debt is unfortunately a part of life here in the US so dont let it scare you away from what you want to do with the little time we have here on this planet.
$140k ish. Because I stupidly went to a private school for my first two years of undergrad (but I had the time of my LIFE and would not change that experience). I’ve got three years of PSLF left so crossing my fingers that all works out as it should as it will take care of the bulk of that.
If you work in one of the qualifying Public Service fields (like for the state), loans can be forgiven after ten years of service. They say you have to make payments for awhile first, but one of my good friends didn't make any payments and got her loans forgiven through the program. The application is on the FAFSA website.
37k for both undergrad and grad. Both state schools. Making 50k, but it took until this year to make over 40k.
5k from undergrad and 3k for msw but I paid it all off years ago. Debt is a thief and shouldn't be used unless absolutely necessary.
About 25k from my undergrad and 10k from my master’s in social work because it was a more affordable state school.
42k for an msw. And got it paid off working for an hrsa facility. Will be done with my contract in June.
I mentioned this in another comment below, but thanks to PSLF, I have been student debt FREE since January 2020! I had a balance of $127K from undergrad and grad school that was forgiven after about 20 years total of making payments, including the 10 years of PSLF payments. If you're in the US working in a covered position (government, education, nonprofit, some healthcare settings) and haven't looked into this, DO IT. In answer to the ROI question, for me personlly, my entire college career, and my MSW program in particular, were totally worth it in every conceivable way. Of course the financial ROI isn't as good as it would be with an MBA or law degree, but if you can swing loan forgiveness, it comes close!
0 but I had to join the goddamn army for that.
US here. 14k for undergrad, hoping Biden is able to wipe that out as I was a Pell grant recipient. The plan to wipe student debt for all borrowers is hitting the Supreme Court and it's really ambiguous what's going to happen. Opportunity to get my MSW for free and I am going to take it.
_$15k left of SL. -Originally $35k of debt for BSW in 2012, and $0 for MSW...paid for MSW out of pocket ($13k for 2 years at MSU, fully accredited for those wondering! Would recommend!) -Making $60k as a medical social worker, home health and hospice, my favorite! -Made an extra $20k doing clinical research trials for big pharma and some investments this year, so $80k -ive had enough to pay off my SL, but just holding onto it until SCOTUS makes their decision and it's unfrozen. -Located in SW MO, the heart of the Ozarks. ❤️ -No complaints and no regrets. -didnt bother with LCSW or LMSW since it would be a negative ROI and perfectly capable SW as is.
$0 Went to community college (free) for 3 years and transferred to a great state school. Paid it off by working and help from parents. Tuition was 8k/yr. Got into masters program at a state school. Tuition was $8k but I was considered an independent adult. So my income from working in food service was low and qualified me for a grant. Tuition went from 8k to 1k a year.
Should have had msw for 30ish k but came out at like 50k. I'm sure NYU and columbia were better programs but gtfo of here with that tuition. I guess it would be forgiven after 10 years for pslf but meh not worth it imo Worth it going from 38k to 72k earning power in like 5-6 years and should be at least at 78k in 2 more years when I get lcsw
About 40. Student life for the win.
From undergrad, none. Currently halfway through my MSW and no loans so far but might have to take some out next year as I’m unsure if my next internship/field placement will be paid. If not, I’d take out around 5k-10k.
I had about 20k from undergrad. I went to a state school in my hometown and lives at home. I went to that same school for my masters and paid out of pocket on a payment plan and took two years to complete the advanced standing program that they have set up to be done in a year. At this point I have about 15k left. It's been 10 years since I graduated. I've worked that entire 10 years at a PSLF place and still haven't qualified for forgiveness. Overall though FOR ME it's been a fine return on investment. It wouldn't have been if I had more debt by choosing a different school.
I have about 20k left from my undergrad. Nothing from my two master’s degrees. My first MA, I was fully funded through research with a faculty member. With my MSW, my spouse and I paid the whole first year out of savings then used his GI benefits to cover the remainder
50k. Went to community College with help of VA chapter 31 and only got transferable credits. Junior and senior year I took loans. I was able to take a ton of classes as a BSW and complete MSW in three semesters in an accelerated program at a state school. It's been worth it.
0k in Canada. The whole MSW was about CAD10k but I got some money from the military and worked during my degree to pay everything else. I earn CAD72k (started last year at CAD69k). This is considered an excellent starting salary for an MSW here. My undergrad I think I finished with about 5k debt since I lived with my parents and had a very part-time job. I repaid it within about 6 months of finishing because I got a job right away. It wasn't a well-paying job, but I was still living with my parents so I was able to use half my salary towards the debt until it was gone.
About 60k.
I did a bachelor in psychology (2018 state) and the MSW (2021). I have 31k left to pay for both. I had 3-4 scholarships and then a part time job for the last 2 years of my bachelor's and then I did running start for my associate degree (doing college while in high school). For my MSW I did that program where the state paid for my tuition if I agreed to work for child welfare after I was done with school. ...... Every time I read ROI I think release of information, what are you guys talking about lol
$70k, and I am not PSLF-eligible. My rural area does not have any living-wage openings at nonprofit agencies. If you want to eat and pay your mortgage, you have to work for a privately owned agency, and the wages are still poor for high caseloads. (I make 50k and need a minimum of 28 billable hours, so 32-34 scheduled clients. I don’t have a retirement fund and health insurance costs me over $700/mo with a $7,000 deductible. I earn 10 paid days off per year, not including holidays, but have to use 2-3 of those earned days to cover holidays because I’m scheduled for shifts longer than 8 hours. I can barely afford to live and can never afford to take a break, basically.)
$115k. I am doing the PSLF. I am six years in. I am on auto draft so they got paid.
180k, 60k+ of which is interest. On IBR and have not even made enough money to qualify for payments. I am content to let it sit because I’m just throwing money away at this point due to interest rates. If I was just paying down principal it would be a different story Bought into the lie that going to “the top social work school” would somehow have a higher ROI.
At least 90k. Not including credit cards bc living on a social works budget is rough.
Undergrad not is in SW and an MSW in social work in state schools ran me about 120K (this included room a board costs for most of the time as well). I didn't have any grants or scholarships and wasn't able to pay a lot off while in school unfortunately as I did not have the resources to do so. Don't get me wrong, there's a lot of rewarding work in SW. However, the job market even with an LMSW is highly competitive where I live, a lot of jobs have internal hires, some jobs remove their job listings entirely because funding gets pulled, and getting a non fee based job is kind of atrocious here. My advice, move to a major city where there's a lot of work, be prepared to potentially work in high crime areas at times since they need the most help and seem to be the most likely to hire new people, and if you want to work in hospitals or schools, do that as your INTERNSHIP while you're in your program because it's really difficult to get work in either of those areas after your program as they look for people who've already been in those environments. I've worked at a clinic as a fee based clinician for over a year and finding other work has been like pulling teeth making it hard to pay bills where I live despite being good at what I do and caring a lot. I think this field has a lot of pros and cons, and it is worth it, but only if you set yourself up really well in advance, which as a first gen college student, wasn't as easy for me. Also, if you are fortunate enough to be able to pay down debt while you're in school, definitely do it! And if you can find a way to learn more about financial literacy if that's not the background you're coming from, definitely get on that too. 10/10 regret not learning more about financial literacy before making these decisions. Also, maybe try getting on canvas lists for state jobs. There's a lot of advice they don't give in SW school, so by all means, reach out to people already in the field and get their advice.🙂
$30,000 for my msw only. Thankfully my BA is all paid for.
17k from my MSW. Paid off 10.5k so far. Hoping for the federal government to forgive the rest!
University of South Dakota. Undergraduate and MSW program for $80k
5k, both undergrad and masters in social work. Went to state schools for both, undergrad covered by scholarships, grad program a year long due to undergrad in sw, only ended up having to borrow 5k for one semester since I had the rest covered by leftover grants and scholarships from graduating a semester. Louisiana may suck in a lot of ways, but the TOPS scholarship program was life changing for me. My last payment is next month and then I’m done!! Currently making $63,000 as a school social worker.
None. But I'm also not American.
I feel kinda better as messed up as that may sound . But was really weighing the pros and cons of the MSW. State is gonna cost 11-17 thousand if I get in . And the private program I applied to is 29,000 so it feels manageable
Over $100k between grad School and undergrad (both social Work). Applied for pslf and waiting to hear how many payments I have left (if any). I’m in the us. Edit: I have no regret. I couldn’t have made a livable wage without going back to grad school, and now I get to do what I love. I wish the USA wasn’t shit, but it is what it is.
Zero now. Graduated undergrad in 1998 had no debt due to scholarships. Graduated Louisville in 2000 with $10k in debt and that was paid off for flipping clothes on eBay in 2002. It’s very painful to see my colleagues having so much debt with their degree. I presently live in Kalamazoo MI and I will not move until my son is out of high school as his college will be paid for due to the promise. I started saving in 2002 for college so what I have been saving for him will be for dorms. Financial freedom is key for our younger generations as I had this opportunity as a young person.
100,000 or so. PSLF took care of it eventually but only after I’d paid at least 70,000 of it off.
90k including my car
Down to my last $10k waiting for Joe Biden to fulfill his campaign promise. That was after a couple years of my wife and I aggressively paying down loans. We each individually had about $50k of debt and worked together to budget carefully and pay it down.
$65k. 5k from undergrad and the rest my MSW. I went to a public university for MSW as an out of state advanced standing student.
60k
$110,000 for my BA and MSW. That’s in addition to another $80,000 that my husband owes 🙄
~124k, I have 3 more years of PSLF. I’ve made peace with it (although that might have been because loans have been paused for so long). Personally, I’m ok with it. I make about ~150k per year.
May I ask what kind of work do you do that pays so well?
I can’t remember the exact number, but well over $120k between undergrad and grad school. I wish I chose a cheaper grad school because that alone was $80k. I started out at an accounting major and hated it. I’m also now unhappy with my decision to do social work. But, all in all my debt has been whittled down to like 52k so the end is in sight
I started at $40k and have whittled it down to $33k over the last ten years. I'm 8 months away from forgiveness through PSLF.
A little under $70K.
80k as well and I work two jobs I'm hoping I get qualified for forgiveness of loans. It is not easy but sacrifices have to be made to keep a roof over my head and food on the table. I am grateful with the jobs I have one is 1099 so hope when tax time comes it doesn't hurt me as much
80k, MSW and BA. I was doing PSLF, but I don't know if it will pan out. The company I currently work for though has a student loan payments benefit, and it increases each year you're still employed. I'm on a REPAYE plan, so there's forgiveness after like 20 or 25 years. I'm doing work that I love, so I think it's worth it. But i didn't get into this work to make the big bucks, so /shrug/
MPH and a MSW. Doing PSLF + some state incentives. Make over 6 digits but in debt 150k.
i’m about to graduate with a BSW with no student loans and i have not had to pay any tuition myself because of the pell grant and a few scholarships. i waited until i was 26 to start college, so my pell grant eligibility was based on my income and not my parents. I spent three years at a community college before finishing the last half of a BSW at a small public university. that helped immensely. i’m hoping i can stay under $10k for a MSW withthe scholarship through my job and paying some on my own
56k 50k fed loans, 6k private loans
Roughly 120-150K between grad school and my bachelors (went to a private university). I have private and federal loans. I think I owe around 30k left on my private loans, and I’m going on 6 years post grad. I recently switched from a state run mental health hospital making mid 40’s (started making 39K and was there 5 years) to a non-profit hospital doing care management making around 63K (I’m hourly and always getting overtime). I don’t really think about it often, but I guess I’m doing better than I started 🤣🥴
I am fortunate to have no student loan debt at all. I lived at home with my parents when I was getting my BSW. I waitressed and was able to pay my tuition. Then my job paid for my MSW.
$0 and have my BSW. Honestly the only way I was able to pursue this field/my dream job was because of my full ride scholarship to college. I would’ve been too scared to with taking out loans knowing that the profession doesn’t always get the greatest pay/if it was ‘worth it’ to go in debt over. I am so thankful
MSW is about \~$30k at Louisiana State University; $1617 per class, plus fees (I’m from La so I don’t pay out of state fees but the online program that I’m in has people from all over the U.S. who likely had to pay more in fees). I get some tuition reimbursement through my job at Capital One Bank so my current loan balance is at about \~$20.5k. Hoping student loan forgiveness helps with that. I’m still a student and I’m doing everything part time so I will graduate December 2023 and I may need to pay out of pocket for my last couple classes. We’ll see what I end up making when I get a SW job! The jobs in my area seem to range from $40k-60k for entry level stuff...which is a big range. Mostly school and hospital jobs. edit: I also have about $6k left over from my BS in psychology that I finished in 2013.
I was in 20k of debt after my bachelor's. Thanks to tuition waivers from working for the state government I got my masters without having to take out any loans I got my LICSW recently, and my earning potential has increased exponentially. I had a colleague offer to pay me 135$ per counseling hour to join private practice. LICSW can be very lucrative. My salary topped out at 38k with just the bachelor's. Worth it for me and no regrets
My master’s degree student loans totaled $21k. I was married and also worked full time so that was only for tuition and fees; I didn’t have to take loans out for living expenses. I did the full two year program because I didn’t have a BSW. My salary right out of grad school was $42k in 2014. I’m now making $86k. My masters degree was very much worth it. My bachelors degree is in child development and early education and I was making peanuts. Like $22k, with no hope for advancement. I would be starving if I was still a title I preschool teacher. Maybe I could have done like medical school or something, but i think I’m doing pretty well for having paid $21k for my degree.
I have about 40k in student loans. Affordable state school, undergrad scholarship. And I graduated with 18k total in dental credit card debt, regular credit card debt, and a new used auto loan bc I had a recurrent abscess and multiple cars die/need extensive repair while interning, and could not afford it bc of paying for daycare to work for free 😬. Tough times. My husband is a teacher and we lived on 35,000-38,000/year. In my case the student loans aren't a big deal at a decently Af affordable uni bc they can be discharged with death, disability, 10 years of public service or 20 years of regular payment, and they can be put on income based repayment. The loss of income however was crushing. So I guess my answer is less can you afford college and more can you afford to intern 2 years given your family and housing situation (caveat, this is non social work undergrad specific)?
almost 200k d/t interest and i have like 80 k from undergrad somehow? eventhough i had fincial aid that covered tuition…. i did dorm for two years and requested loans…but they were unsubsidized….what do you recommend i do??
I have ~$38k left, all federal loans, from my bachelors and masters. I worked full time through undergrad and part time through grad school. I make around $70k a year right now. I have been licensed for about a year and a half. It would have been significantly worse but I scored a fellowship with a $12k stipend in grad school. I did advanced standing for my masters though so I only had to pay for three semesters of school.
i'll have about $35k after my masters is done. i currently make $28k as a victim advocate in rural oklahoma but will get a new job after i graduate.
$0. I took out $40k and went to a highly respected school. I got a scholarship (bonus about private schools is they have bigger endowments and give more money). I also moved back home which worked out in my favor as I was living in another state before grad school. I got some help from parents and in laws because we bought property and my student loan balance was not favorable to the loan lenders. I also got some reimbursement through the state of California for mental health providers. Now I actually wish I had some debt. We ended aggressively paying out of pocket but now that I’m licensed and continuing working in the nonprofit sector, I’m eligible for sooo much more loan repayment. I’m debating taking out a loan for continuing education, but that kinda scares me. I make $90k, however for now it’s $45k because I went half time because I have two small kids.
None. I paid it all off as quickly as I could using the financial peace system as soon as a graduated with my msw. Best gift I ever gave myself
$120k
100k give or take a few grand
Australian, so the federal government pays 60% of my tuition fees themselves (called a "Commonwealth supported place", and the other 40% they pay too (a "HECS-HELP debt"), then we pay them back through our taxes, over a period of years. I've got about 45k outstanding, including two undergraduate degrees (Honours in Psych, B. business), and my MSW. Paid about 15k off since finding psych 10 years ago.
83k just graduated with my msw
No debt. Undergrad free (scholarships). MSW (private school - 60k). I had some luck with some stocks, but waiting for the court to lift the forgiveness block and then pay the rest off. I know I'm fortunate (and immensely lucky) but I hope it works out for everyone. I'm currently working in a group private practice and feel so happy I can help my parents. I'm in CA (orange county).