Chiropractic students don’t exactly live in a world of luxury. In fact they live off student loans, and the amount is not that much.
However, when you factor in all the tuition student loans cover, then add in living expenses, the amount accrued to be repaid is like a paying a mortgage, except there isn’t a house to go with that mortgage.
I have heard that the amount of debt acquired to pay for chiropractic school can be looked at as an investment in yourself, and I understand that. But still, when graduation has come and gone, that debt sure seems like a lot.
Today I wanted to cover four ways to survive chiropractic school and minimize your debt while doing it.
1.) Pay everything in three or four month increments – When I deposited that loan check at the beginning of each trimester, one of the first things we did was pay off the necessities for that trimester. We paid paid four months rent up front, four months electric bill up front, and anything else we could think of at the time. The end of the trimester and the two weeks before the following trimester were always slim pickings, but we always knew we had a roof over our heads and the electric would be on.
It will be different in some schools that do quarters. In those cases, you can probably get by paying three month increments instead.
2.) Make a budget – When we couldn’t pay for things in three or four month increments, we had to budget everything else. This includes food, gas, entertainment, etc. When you make the budget, stick to it like your life depends on it. If you don’t, that time period at the end of the trimester or quarter will be a lot more scarce than it needs to be.
I never understood the single people in my class who spent all their money at the bars on the weekends, only to have a month left in the trimester with no money in their bank account. Here I was with a family, barely able to financially get through to the following trimester. Don’t be stupid like that. Budget, budget, budget!
3.) Get a job – Obviously a full time job is out of the question. Chiropractic school IS a full time job. But a part time job is possible. Some of the married people in my class without kids had a spouse that worked full time. Not everyone has that, though. I had a valet parking job in school that I worked mostly just Friday and Saturday nights. Once in a while I would work a weeknight, but only if it was a great event where I knew I would make money. Each shift I worked, between tips and hourly pay, I earned about $100. That came out to an extra $800 a month, which came in very handy at the end of the trimester when our budget was super tight.
A job also helps you get around people that might possibly come into the clinic to be a new patient for you (hint, hint, wink, wink). It worked for me.
4.) Don’t take out extra loans – If you do the first three things, this won’t be necessary. Early on in chiropractic school, I didn’t do those three things, so I ran out of money fast. We ended up taking out extra loans then, and now our total debt is more than what most people graduate with. Obviously we learned the first three ideas the hard way, but sometimes learning the hard way is the only way. For you current students, don’t learn the hard way. Follow the first three tips and this last one won’t be needed.
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Great article! I graduated from Life in December, and I spent most of my time there working for the Student Success Center as a tutor & Supplemental Instructor. The flexible hours were great, and I basically got paid to study for boards. I started out in the Gross Anatomy Lab. After taking part I, I started working in the Clinical Skills Lab to help me prepare for parts 2/3/4 while earning some cash.