01 Aug 2016

The High Cost of Helping: Grad Student Debt in Psychology

It's never been more expensive to become a psychologist. Higher education costs have skyrocketed in the last decade, while salaries have stagnated and, in some subareas, actually declined. The confluence of these trends has created a crisis for students, recent grads, and early-career psychologists.

Even if you're fortunate enough to be debt-free, you're still likely to feel the effects on your career and psychology in general as an entire generation of potential and new psychologists face significant obstacles to surviving and thriving in the discipline.

In this webinar, "The High Cost of Helping: Grad Student Debt in Psychology," our panel of experts break down the causes and impacts of the graduate student debt crisis, including:

  • What are the trends regarding educational costs, debt, and salaries?
  • What tips and tricks can people use to manage and live within their debt burdens?
  • What are the unique mental and emotional stresses caused by debt?
  • How can students and grads avoid feeling overwhelmed?
  • Are psychologists uniquely prepared to manage the stress?
  • Will people become reluctant to consider psychology as a career option? What impact might it have on the discipline?

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31 Jul 2016

Financial Planning for Early Career Psychologists: From Repaying Student Loans to Successful Retirement

Financial Planning for Early Career Psychologists: From Repaying Student Loans to Successful Retirement

The financial planning process calls for setting personal and professional goals (including paying off debts1), assembling a portfolio of financial resources needed to achieve those goals, and adjusting your portfolio (mainly personal savings and investments) for life-changing events.

The task can be formidable, especially for early career psychologists trying to achieve financial stability and pay down debt at the same time.

This publication of the American Psychological Association and its Committee on Early Career Psychologists provides insight into the financial-planning process for psychologists and information on what financial planning comprises. Readers can learn financial-planning basics and then decide to do their own financial planning or select a financial planner to bring expertise and objectivity to the job.

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