How Much Does Educational Psychology School Cost?

If you want to become an educational psychologist, you will need to be financially prepared for it. It will take approximately nine to ten years after you graduate from high school before you can enter this profession so the costs are something that you will have to really prepare for. Tuition, fees, books, supplies, housing and food are just some of the main expenses that going to educational psychology school will entail. You also have to consider transportation expenses to as well as your personal expenses while on the road towards getting your degrees.

How much you will pay for educational psychology school actually depends on whether you will be studying in a public or private school. Public schools are generally cheaper especially if you are eligible for in-state student discounts which greatly bring down the cost of your tuition. Private schools, on the other hand, charge the same tuition fees to all students regardless of their state of residency. The cost of an undergraduate general psychology degree can vary widely. In some colleges, the cost for tuition and fees and other related expenses can be as low as $8,000 annually while in other schools and universities, a bachelor’s degree in psychology can be had for well over $60,000 a year. This covers tuition, fees, books, supplies and room and board. On the average, an out-of-state student can expect to spend about $35,000 a year for this degree which translates to annual expenses of around $140,000.

Of course, these estimates vary from year to year and from school to school. However, these are just the first part of the costs if you want to become a full-fledged educational psychologist. You will still have to think about your postgraduate degree which can take an average of six years to complete. Naturally, these entail another set of tuition and fees, books and supplies and other related expenses.

Data from the American Psychological Association (APA) revealed that the median tuition cost for a master’s degree for resident students in a public institution is $8,286 annually while that of non-residents, it is $18,046. The median cost for a doctoral degree in a public school for in-state students is $9,422 per year while that of out-of-state students is $21,606 per year. The cost of obtaining a master’s degree at a private institution is $25,513 and $32,883 for a doctoral degree.

Although the cost of paying for educational psychology school is quite expensive, keep in mind that these are just the initial estimates. You can greatly bring down the cost of your studies by applying for financial aid. Scholarships, fellowships, assistantships and other forms of aid are available for psychology students, especially those who are working towards getting their graduate degree. Many schools also offer stipends to some of the scholarships and grants that are awarded to students. See to it that you talk with the financial aid advisor of your school to see whether you are eligible for these forms of financial aid.

Another way to fund your undergraduate and graduate psychology degrees is to apply for student loans. However, you need to be very careful and judicious in applying for student loans since these will have to be paid later on. In a survey done by the APA a few years back, there were 15.4 percent of doctoral students who graduated with a debt load of over $100,000. However, the same survey also revealed that 31.8 percent of doctoral students were able to obtain their degree without incurring any debt. Thus, it is entirely possible to become an educational psychologist without having to take out a student loan.

Career Spotlight: Educational Psychologist

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