2 years paid...NHSC for last 2?

[aspiringdds02]

So I was hoping you could give me some input on my current situation. I'm currently a couple months away from finishing D2. I have been fortunate enough to not have to take out any loans for my first 2 years of dental school. I've been contemplating applying for the NHSC to cover the remaining 2 years of my education. If selected, they cover the full tuition plus monthly stipend payments, allowing me to graduate debt free. However, I would in turn owe a 2 year commitment.

If I decide against applying, I would graduate with between 100-150k in loans.

What do you all think? The thought of being debt free is definitely enticing, but I'm not sure I want to sacrifice the freedom of choosing where to work. I'm also considering specializing in Peds, and if I did would have to defer the 2 year commitment for the length of the specialty program.

I've always maintained the mindset to go the route that incurs the least amount of debt, however this situation is forcing me to give it a little more thought.

Any feedback would be greatly appreciated. Thanks

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[diasIItema]

As an NHSC scholar, I would recommend the program for no less than three years. After that, NHSC loan repayment seems more enticing to me due to lower HPSA qualifying scores. If you want to do Peds, then NHSC is definitely looking for pediatric dentists; however, considering how well compensated Peds is, I think the liberty of choosing your own market is more enticing than limiting yourself to FQHC's, etc. Additionally, the NHSC scholarship is extremely selective and limited, whereas the Loan Repayment program is pretty much a sure thing. If you do general dentistry, I think the NHSC is one of the best things going. 100k in loans is less than half what most dental students are having to pay these days, and most of them pay debt off in less than 10 years, so don't conscript yourself into something out of fear and not really doing your homework. Talk to some dentists.

 

[aspiringdds02]

Wow some really good stuff. Thank you for your response. I sent a PM with some additional questions.

 

[Faux]

With only 100-150k, you'd have no problem paying that back. You even have the luxury to start paying as soon as you start your residency. Thats 7 years of payment(150k) if you ONLY put 1.6k towards it every month. You'd have to do the math, but you might end up making more money in the end in the private sector(+more freedom)than at NHSC given how little you owe. Try going to a finical advisor, he'll do you a spread sheet.