decade ago, Ben Campbell, PhD, gave up
a stable and lucrative information technology career to go to
graduate school in psychology because he wanted to do work
that made a difference in people’s lives. Today Campbell, 40, has
the career he imagined. He is a licensed clinical psychologist
who works with children and families at a Kaiser Permanente
office in the San Francisco Bay area.
But his rewarding career has come at a great cost — almost
$200,000 in educational debt.
To those who haven’t been paying attention to the rising
cost of graduate psychology education, that number might
seem startling. But a recent survey of student and early
career members of APA found that the median anticipated
final graduate debt load for current students — excluding
undergraduate debt — is $110,000.
For students in health service provider fields, it’s $120,000.
For those in research and other fields, it’s $72,500. For those
pursuing a PsyD, it’s $160,000.
trap Today’s aspiring psychologists will take on an average of more than $100,000 in debt
to finance their graduate
educations, a new study finds.
That debt is taking a serious
toll on students’ and early
career psychologists’ lives
By Lea Winerman