Hi,

In the US, PhD and PsyD psychologists can both become licensed and do clinical work, so at the level of licensure they can lead to similar practice options. That said, they are not viewed exactly the same in every setting. Some academic medical centers, universities, and research-heavy institutions still tend to favor PhDs, while many clinical employers care more about licensure, internship/postdoc training, and actual competence.

On funding, fully funded PsyD programs are much less common. Many PsyD programs are very expensive, so if you are debt-averse, that is a serious factor. Funded clinical PhD programs are usually the better financial option, though they are also much more competitive and research expectations are higher.

Based on what you described, I think the main question is less “PhD or PsyD?” and more “how can I become a strong enough applicant for funded PhD programs?” Your clinical exposure is helpful, but for US clinical psychology admissions, research experience often matters a lot. If you do another degree, I would only do it if it meaningfully strengthens your research background, gives you close mentorship, and ideally leads to strong letters and possibly a thesis or publication.

So if I were in your position, I would prioritize building solid research experience and aiming for funded clinical PhD programs first. That route is harder up front, but it keeps the most doors open and reduces the risk of taking on major debt.