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Student Debt Management

January 11, 2021 @ 1:00 pm - 2:00 pm CST

Free

January 11, 2021

11:00 a.m. – 12:00 p.m. PT

1:00 p.m. – 2:00 p.m. CT

2:00 p.m. – 3:00 p.m. ET

Event will be held via GoToWebinar. Live attendace is required to receive CE/CEU credit for this program

This program, when attended in its entirety, this program offers 1.0 CE for Psychologists (APA), and 1.0 BBS California CEUs for LPCCs, LPSW, and LMFTs
Registration and Fees: This program is free to attend

A substantive proportion of Health Service Psychology (HSP) graduates carry financial aid debt loads that may become financially unmanageable, particularly if they are earning an annual salary that is in mean earning range for psychologists. Moreover, physicians and graduates of PsyD programs in particular have comparable financial debt loads upon graduation. A most salient finding in the Doran, Kraha, Marks, Ameen, and El-Ghoroury (2016) study on postgraduate debt in HSP was that among current psychology students in their sample, the mean anticipated debt load was $105,460 for PhD students, as compared to $173,239 for PsyD students (a 49% difference). Ripley and colleagues (2019) found that among PsyD interns and alumni (N=1,344), 43% had amassed student loans of over $150,000, about twice the mean salary for US psychologists.

Such a high debt burden endangers the ability of alumni to work with underrepresented sectors or for social justice causes (typically included in the goals of many accredited programs), and instead concentrate on providing clinical services to the affluent. It may also be well argued that the high costs of education and elevated debt loads from doctoral education is driving enrollment down in HSP programs. This workshop will present ways in which graduates of PsyD programs can manage their debt in a cost-effective manner while allowing them to work in public health sectors.

Learning Outcomes:

  1. Identify multiple student loan forgiveness programs available with the federal government.
  2. Explain common pitfalls that have limited successful applications for public student loan forgiveness.
  3. List the pillars of the public service loan forgiveness program that must be completed to qualify for public service loan forgiveness along with being able to list facets of different repayment plans of federally backed student loans.

Presented By: Dr. Peter Smith, TCSPP Alumni

Dr. Smith earned his PsyD from The Chicago School in 2006 and a Master of Science in Clinical Psychopharmacology (MSCP) from Fairleigh Dickinson University in 2017. Prior training has included post-doctoral experience in pediatric neuropsychology and clinical psychology. Dr. Smith has been involved with multiple committees including but not limited to Legislative, Professional Practice, and Early Career with the Maryland Psychological Association. He was recently elected President-Elect of Division 55 and will begin his term in January of 2021 after being elected Treasurer and serving as chair of the Membership Committee. He began work with the Maryland Department of Juvenile Services in 2012 as a Psychologist. In addition, he has worked at a local emergency room as an urgent care psychologist, specializing in determining disposition for crisis patients of all ages for the past 10 years.

The Chicago School of Professional Psychology is approved by the American Psychological Association to sponsor continuing education programming for psychologists. This program, when attended in its entirety, is available for one (1.0) continuing education credit. The Chicago School of Professional Psychology maintains responsibility for this program and its content. Attendees licensed in California can receive one (1.0) hour of continuing education credit for MFTs, LPCCs, and/or LCSWs as required by the California Board of Behavioral Sciences. Attendees requesting continuing education credit are required to attend the entire session and complete an evaluation and quiz after the workshop. Certificates will be sent after the quiz and evaluation are completed. More information about continuing education credit is available immediately after the registration is completed.