Stop complaining about DPT debt and call your reps right now
Hey everyone,
If you are tired of staring at a $100k+ balance for your Doctor of Physical Therapy degree while interest eats you alive, it is time to actually do something about it.
There is a real bill in Congress right now called the Student Loan Interest Elimination Act (S.4169 in the Senate / H.R.8045 in the House). It was introduced by Senator Peter Welch and Representative Joe Courtney to completely eliminate interest rates on federal student loans.
What the bill actually does:
- 0% Interest Rate: Refinances all existing federal student loans down to 0% interest.
- Future Caps: Locks in a 0% interest rate for all future federal borrowers.
- Federal Loans Only: Applies strictly to federal student loans (direct subsidized/unsubsidized and Grad PLUS).
- Funding: Uses a trust fund backed by principal payments to keep the program running.
While this does not decrease the baseline tuition cost of a DPT program, it drastically cuts the total amount we actually end up paying back. Personally, I would save over $40,000 if this passes. Think about how much you would save without interest compounding daily.
The bill is currently sitting in committee. It will die there if people do not care. Stop just complaining on this sub about low reimbursement rates versus high debt-to-income ratios and take five minutes to call or message your U.S. Senators and Representatives.
Tell them you are a constituent, a healthcare professional, and that you strongly urge them to support and co-sponsor S.4169 / H.R.8045.