<p>A clinical psychologist has a PhD. Depending on the program you do not have to pay for grad school (at Pitt is is guaranteed for four years plus you get a stipend). For tuition to these programs, there are loan repayment programs available through NIH that a lot of clinical psychologists apply for (if they do a research postdoc) after they graduate. However, a clinical psychologist program has different training than a research scientist PhD program.</p>
<p>A psychiatrist is an MD, as mentioned above. It is typically a shorter path out of school and not research oriented like the clinical psychologist might be, not that psychiatrists can’t do research, but their training is different, and obviously, has all the costs of and debt of med school. Psychiatrists are full physicians whereas clinical psychologists are not.</p>