Financial Tips For Occupational Therapy Fieldwork

By Joseph Reinke, CFA, CEO of FitBUX

During our student loan workshops, we often discuss small “secrets” you can take advantage of when it comes to money. These secrets can add up to hundreds of thousands of dollars in savings over your lifetime.

In this article, we discuss two key variables to take into consideration when doing your Occupational Therapy fieldwork.

On a related topic, make sure to check out this other article titled 6 Things I Wish I Knew Before OT Fieldwork for some helpful tips.

Cost of Occupational Therapy Fieldwork: Don’t Forget The Other “Stuff”

Many students we speak with decide to do fieldwork at a different location than were they currently live. Of course, this adds thousands of dollars in extra rent you may have to pay, food, transportation, etc…

This trend seems to be highly prevalent among those getting their masters. Although we are still collecting data on Occupational Therapist, the thousands of FitBUX members who are DPTs with completed clinicals provide a relevant sample: on average, they incur between $30,000 and $50,000 in additional student debt to cover the cost of their clinicals.

Although not as much as for PTs, we are seeing a similar trend with MOTs and OTDs.

So, be strategic where you do your OT fieldwork. Try to find a location where you already live or if you are moving to do your Occupational Therapy fieldwork then try to find a place where you have family and friends to live with.

Occupational Therapy Fieldwork and Life Post-Graduation: Start Early

When we are helping new grads develop their student loan repayment strategy, I’m shocked by how many say they are struggling to find jobs in an area they want to be hired in.

Occupational Therapy fieldwork gives you the perfect opportunity to network in your area of choice. Yes, it may take a lot of research beforehand, but is very much worth it. Once you are doing your Occupational Therapy fieldwork and have enjoyed your experience, be sure to tell them you want a job. Don’t be shy and assume that they know what you would like to see happen next, be assertive.

If you have a job lined up post-graduation, you can take your licensing exam and start working quickly. The sooner you start working, the sooner you can implement your student loan grace period strategy you set-up with your FitBUX Coach and start saving money immediately! While the concept of a grace period is tempting, it may end up costing you thousands in the long run.

About FitOT

FitOT is the FitBUX Community dedicated to everything Occupational Therapy.  It is designed to be a resouce for FitBUX Members and Members of the Occupational Therapy Community.  If you would like to write an article for FitOT you can do so by clicking here.

 

We've helped Rehab Professionals manage over $500 million in student loans. Get help today, it's free.

Free Student Loan Analysis

Related Post

Student Loan Refinancing Tips for Traveling Occupa... By Joseph Reinke, CFA CEO of FitBUX I spoke at TravCon last month, an annual conference for healthcare travelers and met a great, enthusiastic commun...
Interview Tips for Occupational Therapists By Joseph Reinke, CFA This article covers 7 key interview tips which can be leveraged as part of an interview process, both for an interviewee and an...
Travel OT Opportunity? What It Means For Your Stud... By Frederic Billou, CPO of FitBUX We're getting many questions from students and recent graduates about the financial implications and things to kn...
Occupational Therapy Degree and Student Loans By Joseph Reinke, CFA, CEO of FitBUX There have been many discussions about occupational therapy degree requirements and the ramifications of the OTD...
Something Common Among New Grad OTs: Burnout? By Joseph Reinke, CFA, CEO of FitBUX I've been astonished how many new grad OTs I've spoken with in the past three months are already talking about...

Leave a Reply