Graduating Debt Free
If you’re considering a career in massage at DiscoveryPoint, you might have noticed that we don’t have an in-house loan program, and though we will accept payments funded by private loans, we do not encourage our students to take on debt.
It’s no secret that educational debt is taking a devastating toll on our economy. 71% of American baccalaureate graduates leave their colleges or universities with debt, and the average borrowing rates is a little over $35,000 for the class of 2015. That isn’t as high as many of the hundred-grand horror stories you might hear, but still adds up to $1.2 trillion in total student loan debt for the country. These numbers are staggering, and the toll this trend takes on individuals and families isn’t sustainable or even right.
At Discoverypoint, we don’t want our student’s dreams for their professional futures to wind up as fiscal nightmares, and we don’t want them to feel trapped financially. We encourage prospective students to explore a few other options for funding their education that allow them to graduate debt-free. Instead of taking on a large private or Federal loan, you could save up some money before entering massage school, or apply for our work-study program, which allows students to provide in-house services in lieu of some tuition, or one of our scholarships. We also offer interest free monthly payment plans that are quite manageable for most applicants.
We also encourage you to explore the many private funding and scholarships opportunities out there, like tribal scholarships available to those of Native ancestry, and the educational scholarships available to veterans. Less than a third of veterans take advantage of their educational stipends, and a career in massage is a great way to use those benefits. If you are seeking a career change due to disability, you can also pursue scholarships through the Division of Vocational Rehabilitation.
Another positive about not taking out large Federal loans to finance your education is realized after you graduate, when you may want to take out a business loan. Without the debt from your education loan, you look better to the banks providing those start-up finances, you avoid compounding your debt right when you’re trying to start your career!
If you want to talk more about financing your PMP with Discoverypoint, please give us a call! We would love to discuss your options. We want the best possible financial future for all our graduates!