Genetic Counseling Graduate Student Debt: Impact on Program, Career and Life Choices
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ORIGINAL RESEARCH
Genetic Counseling Graduate Student Debt: Impact on Program, Career and Life Choices Ashley Kuhl & Catherine Reiser & Jens Eickhoff & Elizabeth M. Petty
Received: 21 June 2013 / Accepted: 5 February 2014 # National Society of Genetic Counselors, Inc. 2014
Abstract The cost of education is rising, increasing student financial aid and debt for students pursuing higher education. A few studies have assessed the impact of student debt in medicine, physical therapy and social work, but little is known about the impact of student debt on genetic counseling students and graduates. To address this gap in knowledge, a webbased study of 408 recent alumni of genetic counseling programs in North America was conducted to assess the impact of student debt on program, career and life choices. Over half (63 %; n=256/408) of the participants reported that loans were extremely important in their ability to attend their training program, with most using subsidized loans no longer available to current graduate students. While participants were generally satisfied with their genetic counseling education, 83 % (n= 282/342) of participants with student debt reported feeling burdened by their debt, which had a median of $40,000–$50,000. This debt is relatively close to the median starting salary reported by survey participants ($45,000–$50,000), breaching the “20-10 rule” that states student debt should not exceed 20 % of annual net income. In response to this critical issue, we propose recommendations for the genetic counseling field that may help alleviate student debt impact and burden. Keywords Debt . Financial aid . Loans . Career choice . Genetic counseling student . Graduate education A. Kuhl : C. Reiser : E. M. Petty Pediatrics, School of Medicine and Public Health, University of Wisconsin, Madison, WI, USA J. Eickhoff Biostatistics and Medical Informatics, University of Wisconsin, Madison, WI, USA A. Kuhl (*) 1500 Highland Ave. Room 358, Madison, WI 53705, USA e-mail: [email protected]
Students pursuing graduate level education are entering their fields in a financially unsustainable environment. Over the past 35 years, the cost of a college degree in the United States has risen by 1,120 %, exceeding the consumer price index by fourfold (Jamrisko and Kolet 2012). At the same time, the average household income dropped by at least 1 % every year from 2007 to 2011 (Trends in College Pricing 2012). These contradictory changes may provide insight as to why 66.2 % of 260 Master’s level social work students reported that student loans were “extremely important” in determining their ability to attend graduate school (Yoon 2012), and why 80 % of 92 surveyed physical therapy students had loans totaling $40,000 or more (Thompson et al. 2011). Even when students are able to get financial assistance through educational loans, many do not understand the greater cost of consumer loans like credit cards and misjudge the trade-off between education and market value (Avery and Turner 2012). Adding to this challenge i
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