Realistic SLP Tuition + Salary Questions

[apslp]

Hi everyone!

I am a post-grad SLPA currently applying for graduate school this cycle. For those of you who are currently enrolled or have already graduated, how much debt will/did you incur from your graduate studies? I know it can vary depending on out-of-state vs. in-state tuition, but I am having a hard time finding a realistic average. Also, for those of you already working in the field, what are salaries like? Again, I know this is varies depending on setting/geographic location, but when I research this information it looks like the average is ~55-70k with little growth over time. Is it a struggle to pay of student loans or is it completely feasible, combined with costs of living and other expenses? Huge thanks in advance!

[Crimson Wife]

If you're interested in working in the schools, ASHA just published an article that might interest you: http://www.asha.org/SLP/schools/State-Caseload-and-Salary-Data-Map/

6 months ago, I would've said that if you work in a non-profit setting (school, hospital, EI, VA, etc.) you can have your loan balance forgiven after 10 years, but with all the political changes, I wouldn't count on the Public Service Loan Forgiveness Program to still exist when we graduate.

[apslp]

Yeah, I don't trust loan forgiveness anymore sadly. Welp.

[jpiccolo]

I'll be 25k in debt total. Plus interest. And that's in state tuition, which I'm grateful I took advantage of, especially since I'm going to have a car payment sooner than anticipated. 50k seems to be a starting place according to ASHA surveys but I'd be wary of school settings as they sometimes put SLPs on the same pay scale as teachers. Something to check during job apps since a master's degree shouldn't be ignored. 

[apslp]

59 minutes ago, jpiccolo said:

I'll be 25k in debt total. Plus interest. And that's in state tuition, which I'm grateful I took advantage of, especially since I'm going to have a car payment sooner than anticipated. 50k seems to be a starting place according to ASHA surveys but I'd be wary of school settings as they sometimes put SLPs on the same pay scale as teachers. Something to check during job apps since a master's degree shouldn't be ignored. 

Not to pry, but is that also including living expenses? If so, that's not bad. My in-state schools are roughly 20-25k, but not including rent/food/etc. How realistic to work is it during a program? It seems to be discouraged, but you gotta do what you gotta do...

[jpiccolo]

That's total what I received from financial aid for the two years.  Some of that covered books and living expenses but not everything. Between some savings from my job before grad school and some support from my parents I was able to avoid more loans. But generally I'm okay with the amount I incurred, especially since I was very tempted to accept offers from out of state schools with closer to 30k per year for just tuition. As I start to job hunt I'm relieved to not be carrying around 60-70k in loans. Of course it depends on where you get offers from. Had I not gotten off the waitlist here I would have way more debt.

Some girls in my cohort did have jobs. You really have to be good and disciplined with time management. It's tough but doable. I didn't work though I looked for jobs occasionally to try and find something flexible. 

 

[wcslp]

It is very very very rare to make 70k out of school, unless you are in a high COL area imo. 50k seems to be average to above average (unless you are medical, which pays slightly more but is very difficult to break into full time). In CA, even with its insane COL, I have found most districts to start around 40-50k. I have heard numbers as low as 30k for other states. This is often because SLPs are placed on the same salary schedule as a regular school teacher and are compensated as such. You can look up the salary schedules for any districts you are interested in. They should all be posted online.

[Crimson Wife]

According to the Bureau of Labor Statistics Occupational Outlook Handbook, the 10th percentile (as in 9 out of 10 SLP's make more) is $46k. So I don't think you have to seriously worry about only making $30k/year unless for you choose to work only PT.

My mom has a friend who makes $150k/year in her private practice. Now granted my mom's friend is in her 60's and has a degree from Stanford's long-closed SLP program. But it is possible to eventually make six figures as a SLP.

[Kangamom]

I live in a high COL area (top 10 in the country) in California. Our starting salary for a SLP with 45 units beyond a BA would be just over 74K, if you include the stipends for a master degree, special ed stipend and working the 4 optional extra days. Our district has had some recent really good pay increases.

[slporbust2016]

Salaries are really specific to area. I wish I'd understood how bad school SLP salaries were in my area when I started. I probably won't end up working in a school. Starting salary is 40K. That's absolutely absurd when I consider how much education I will have at that point. 

Dig around and see if you can find pay scales online for the school districts that you'd like to work for. Lots of them publish them. 

[wcslp]

On 2/2/2017 at 3:10 PM, slporbust2016 said:

Salaries are really specific to area. I wish I'd understood how bad school SLP salaries were in my area when I started. I probably won't end up working in a school. Starting salary is 40K. That's absolutely absurd when I consider how much education I will have at that point. 

Dig around and see if you can find pay scales online for the school districts that you'd like to work for. Lots of them publish them. 

Agree with this. So many people underestimate the reality of salaries in this field. I just came from a thread advocating taking out 6 figure loans for this degree. I worry for younger students who may not be aware of the impact of such things. I know many classmates making 50-60k their 5th year out of school, but have over 100k in loans. I just wish someone had been there to advise them. This field is not, and will never be, a "get rich quick" field.

[WannabSLP124]

This can vary so much! I hear school SLP's employed through the school make on the lower end. If you're willing to be a contractor (typically no benefits, supply your own materials, and save your own taxes) you can make much more money. Although, I have only worked in big cities as an SLPA (Phoenix & Houston). I have made good money as a contractor, and right now I am making an per session rate (in private practice) close to some SLPs. From what I have seen home health pays well, but depending on driving conditions in your area it can be tough. 

[apslp]

On 2/4/2017 at 4:15 PM, wcslp said:

Agree with this. So many people underestimate the reality of salaries in this field. I just came from a thread advocating taking out 6 figure loans for this degree. I worry for younger students who may not be aware of the impact of such things. I know many classmates making 50-60k their 5th year out of school, but have over 100k in loans. I just wish someone had been there to advise them. This field is not, and will never be, a "get rich quick" field.

Thank you for this! I am currently working as an SLP-A and the work experience has altered how I view the field from a financial standpoint. Unfortunately, there is A LOT of misinformation regarding what grads can expect to make. I couldn't justify taking out 100k+ to attend graduate school. I am looking at taking on ~35k and that freaks me out...

Edited February 6, 2017 by paceslp

[Speechiekeeen]

A little late, but I found this blog with some advice on loan forgiveness that could be an option for anyone in the future! :

http://wordofmouthspeech.blogspot.com/2015/08/the-scoop-on-student-loan-forgiveness.html 

[Amandaspeechie]

Graduate School Debt (Private School in Maryland): 50,000

Undergraduate Debt: At least 10,000

Post-Graduate School monthly loan payment: $680 for standard plan to cover about 60,000 in loan debt

I worked for a school for two years and started off on an income based loan repayment plan so that I could afford to live in an apartment with my roommate. Without the income based plan, I would have had to move in with family or taken a position elsewhere. On an income based repayment plan, I hardly touched the interest on the loan and really was not paying toward the principal of the loan until I started working in private practice, so it is taking quite a long time to pay my loans down. I finally started paying toward the loan principal and making a bigger difference this past year, and I graduated in 2014 so I've been out of school 4 years. So, in my opinion, the salary income did not justify taking out enormous loans and it is difficult to pay the loans and have a decent budget.

I was lucky to have help from my family and received money throughout school for housing, food, and everything aside from tuition. I took 25,000 out in loans per year, which covered the tuition for graduate school for two years.  I moved to a high income area in Virginia two years ago and was able to increase salary to 67,000 a year ago. I initially started making close to 47,000 in a school which included better health insurance and was a 10 month position, whereas now I work 12 months with very little paid time off and Holidays.  Offers for Maryland school systems were in the 40k-50k range 4 years ago. Don't take loans!!!! The debt makes me feel like I can't afford a house.

[HoneyBee03]

A therapist i supported told me to work as a contractor if i decided to work in a school system. However, another one told me it comes out to about the same because contractors don’t get paid when we’re out such as snow days. 

Im probably looking at $40-50k for grad school debt 

[soontobeslp2018]

Combined debt for undergrad and grad school I’m looking at 50-60k. In the county I live in school SLPs are paid on a different pay scale than teachers and as a CF I would be making 49,000 then a bonus for getting my C’s. It all depends on where you live though, and other factors that vary person to person