Degree Date

6-2024

Document Type

Dissertation - Public Access

Degree Name

Psy.D. Doctor of Clinical Psychology

Academic Discipline

Clinical Psychology

First Advisor

Kristen Newberry, PsyD

Second Advisor

Sandra Zakowski, PhD

Third Advisor

Joyce Mojica, PsyD

Abstract

Graduate student loan debt in psychology, particularly for those with Doctorate in Psychology (PsyD) degrees in clinical psychology, is highly problematic. Previous research has shown that student loan debt negatively impacts quality of life (QOL) by affecting subjective well-being (SWB) and life satisfaction (LS). This study used a convergent parallel mixed method approach, guided by bottom-up spillover theory and Maslow’s hierarchy of needs, to explore the relationship between QOL and total graduate student loan balances, as well as the effects of income and monthly student loan payments on QOL among PsyD graduates. Participants (N = 16) completed a survey with demographic questions, the Quality of Life Scale (QOLS), and open-ended questions about the domains most affected by their debt and their experiences with it. Quantitative analysis showed a statistically significant relationship between total student loan balances and QOL, F = 5.654, df = 3, 12, p = .012, with higher loan balances correlating with lower QOLS scores. Qualitative analysis indicated that PsyD graduates often allocate their financial resources to meet lower-level needs, hindering their ability to achieve self-actualization. This dissatisfaction with material comforts spills over into other life domains, decreasing overall QOL. Further research is needed to identify factors that influence and moderate this relationship.

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