Are there businesses that offer loans to dental students to use as personal spending money (i.e. buying food, going out, etc...)? Basically, I have no money in my savings account anymore...and I am sick of calling on my parents to give me money to go out and for clothes, etc. I also have NO time to be working, and killing myself for a few thousand dollars on my final summer before dent. school doesnt seem necessary. Im not 100% sure on how most loans work, but most specify that they are for TUITION. Anyone know how this works?

THANKS,

kb

Well heres my 2 cents at my D-school you can take out a certian amount of money in loans each year. This is meant to cover tution, books, and living expenses. I would consider clothes as living expenses. If can take out more student loans take them. You get a good interest rate and dont have to pay them back until your out of school.

They offer a yearly alloted amount to cover housing, food, transportation, clothing, and some entertainment. This number varies from school to school as each location has different costs for all personal expenses. However, to take out loans in dental school, you cannot exceed whatever they allot you.

That means you cannot borrow any more than is needed to cover the school's calculated total cost of education. Even if you have scholarships and such, the loan amount will be adjusted to make up the difference in total COE and the scholarship. You are supposed to report to them any additional funding (outside scholarships, private loans, etc) to the financial aid office. So, taking in additional funds with a private bank or lender after you've maxed out your financial aid shouldn't be allowed.

Some schools allow you to do what I just said, but this doesn't happen very much.

I hope that was clear. For some reason I can't explain it as clearly as I'd like to.

Like drPheta said, all personal expenses (clothing, food, entertainment) are incorporated into the cost of education that is produced by the school's financial aid office.

You can use the school's financial aid office to take out up to that max number (cost of education) that is produced. If you want additional monies, then you are on your own.

Banks offer student loans as well. You dont have to go through your dental school for money if you need you can get private funding. Most are not deferred though. There are people in my class whom have gotten additional loans on top of there school loans. Just look around Bank One has a good one.