I’m doing this (almost done!) It’s a long road, and an absolute ton of work. If you haven’t already, you might consider one of the hybrid programs — I do three weeks online and then fly across the country once a month for 4 very intense days of labs and practicals. This approach let me keep working through the first three-plus years of the program (we stretch it to four total; the last 9 months are full-time clinical rotations). I still have some crazy loans, but all things considered I’m coming out ahead this way versus a local full-time program. It’s possible to have kids during this kind of setup as well. My daughter turns 5 soon, and we have quite a few parents in the cohort, with probably a dozen little ones between everybody.
It is very competitive to get in. Programs will vary, but you’ll probably want to shoot for straight As in your prereqs and above 300 on the GRE. Observation in multiple settings is also a major benefit; it can be tough and take a while to get in and observe in acute care, but it’s definitely worth it, for the exposure to different aspects of PT if nothing else.
The difficulty level once you’re in is also very high. Nothing in particular is necessarily all that hard on its own, but there is a ton of material. The transition to the DPT involves additional training in imaging, pathology, pharmacology, and differential diagnosis that was not necessarily emphasized as much before. Again, nothing crazy on its own, but there’s just a lot to manage.
The income doesn’t really match the cost of entry at this point. Different settings do pay differently, and there are definitely non traditional models to pursue if you want to start your own thing (cash-only practice, online niches, outpatient on wheels, setting up in CrossFit gyms, etc). There are people doing some very exciting things. There’s also a lot of frustration and burnout. You might check out the salary report stuff at UpDoc media, I think it gets a little more granular than what you’ll find through, say, the Department of Labor.
If you’re absolutely sure this is the path for you, I would not say it’s a foolish pursuit! I’d definitely make the same choice again—there’s a lot to be said for getting out from behind the desk. In a worst-case scenario, there’s income-based repayment which you can manipulate to some degree with aggressive retirement savings. Plus it sounds like you’re in a good position to absorb the financial hit.
Good luck, I hope you enjoy shadowing!