Student loan debt and income among chiropractors: A description of consultancy data

To describe student loan debt and income of doctors of chiropractic (DC) who sought private student loan counseling.

A descriptive analysis of de-identified client records from a student debt consulting firm (Student Loan Planner®) was conducted. Data regarding chiropractic programs, cumulative student loan amounts, and current incomes at the time of consultation were abstracted. Descriptive statistics were reported.

Consultations (n = 448) were completed with DCs between March 2017 and August 2023. Nearly half (44.2%) reported student loan indebtedness between $150,000 and $249,999 with another 35.7% indicating between $250,000 and $349,999. The mean student loan debt was $249,149 (SD: $82,892) with a median of $240,000 (interquartile range [IQR]: $199,507–$295,390). The mean income for DCs in this sample was $81,305 (SD: $47,495) with a median income of $75,000 (IQR: $50,000–$100,000). The mean debt-to-income ratio was 4.11 (SD: 2.93) with a median of 3.38 (IQR: 2.21–5.16). Sixteen consultees possessed a debt-to-income ratio below 1.00, whereas more than a quarter (26.3%) of consultees reported a debt-to-income ratio greater than 5.00.

DCs seeking debt guidance commonly carry substantial student loan debt that far exceeds their income. Our findings highlight that the student loan debt crisis includes DCs.