Reader Question: It is my absolute dream to become a therapist, but I find the financial side quite overwhelming... Especially as I don't think I qualify for access to student loans. Any tips or tricks? I know it will require a lot of dedication, I just wonder sometimes how people make it work.
Your question really resonated with me, because even though I am now qualified, I went into training not having any idea of the true costs. In all honesty, I think a lot of training organisations may not be as transparent as they can be in terms of costing. There will also be some things that they will have no control over, such as external supervision and your own personal therapy throughout the training. So, it’s great that you’re thinking about this now and considering the options.
You’re right, the financial side can be really overwhelming. However, it is doable for many and if being a therapist is your dream, I imagine it will be worth it in the end!
Some things that may help ease the burden are the following:
· Consider an evening/weekend training so you can still work: This is what I did throughout my five years of training. I was fortunate in that I worked in a school at the time, so I had holidays off, but I basically kept working full time the whole way through and dedicated my evenings and weekends to the training. It was draining and at times seemed impossible, but there are ways to make it work and to fit everything in. It’s also important to bear in mind that some people take breaks during their training, e.g., taking a year out to accrue some more money or have a mental and emotional break before pursuing further training. This is always an option too.
· Try and find a therapist who offers a sliding scale in their fees: Depending on what training you do; you will have to have to commit to at least 40 hours of therapy per year of your training. If you do the full psychotherapist route, the training will take five years. On average a therapist might charge £60 per session so you’re already looking at around £2400 per year just on Therapy (this is just an example; it can differ greatly). Many therapists offer a sliding scale, so if you manage to find one that will, it could potentially save you a significant amount of money throughout your training.
· Many banks offer career development loans: Frustratingly, counselling or therapy training are usually not subject to the usual student loans. However, many companies offer postgraduate career development loans. When I was studying Barclays offered up to 10,000 for your training and you only started paying it back two months after you completed the training. It could be helpful to have a look at what postgraduate loan are available to you.
· Ask about all the ‘hidden’ costs at the training organisation before you commit: This one is important. Training organisations will tell you about their fees, but there are sometimes hidden or extra costs. For example, if your training is affiliated with a university, you might be subject to pay the university a fee every year. Some training organisations also charge you for having your dissertation marked or undertaking exams. It is perfectly acceptable for you to question the training organisation if you attend an open day or an interview. The fees between organisations will differ greatly so it’s important to pick one that not only aligns with your theoretical orientation, but also what you can practically afford.
· If you do take the step and decide to start training as a therapist, share books with your peers!You might feel that you need to buy every single book on the reading list, so it’s a good idea if you set up a buddy group and perhaps choose which books each of you purchase and then circulate them between you.
· Set up an honest and practical financial budget: This might seem daunting but having a realistic view of what the cost will be and what you can afford is important. It might tell you that you can’t afford to start training this year or next, but at least it will give you a clearer picture of how much you need to save in order to begin following your dream of being a therapist.
Despite how difficult the training was, emotionally, physically, mentally, and financially, I honestly wouldn’t change being a therapist for the world. If it’s your dream, you’ll be able to find a way to make it work. Good luck!
Lesley
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