Dental Students Now Eligible S2S Loan Repayment Program

[LavenderFire]

Hi All,

I get e-mail updates from NHSC and they are now letting dental students apply for the Students to Service Loan Repayment Program. I'm just starting school next month but I thought this information might be useful to someone in their last year of dental school.

Here is some information about the program...

"Opens August 16th to dental and medical students in their final year of a U.S. accredited school who are planning to pursue a career in primary care, and are committed to working in underserved communities with limited access to care. Students to Service loan repayment award recipients receive up to $120,000 (tax free) for at least three years of full-time service at an approved NHSC site in a Health Professional Shortage Area (HPSA) of greatest need. Upon completion of residency for medical students (dental residency is encouraged but not required), recipients serve as primary care providers in an NHSC-approved site in a HPSA of greatest need."

You can find out more by going to the NHSC website.

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[BeaverLover]

This seems like a much better deal than the LRP's 25k a year, am I missing something here????

 

[distressstudent]

This seems like a much better deal than the LRP's 25k a year, am I missing something here????

Doesn't seem like it's particularly well thought out for dentist. Look through the long version and there are no mention of dentist or dental student (just dental services).
This program is different from standard LRP because it's more similar to the NHSC scholarship. That's because this program is designed to get doctors through their residency program and have them available years down the line. They also have to serve in a high HRSA area just like NHSC scholarship recipients.


"Participants will receive up to $120,000* in loan repayment funds payable in four annual installments (up to $30,000 per year) subject to meeting program requirements. Funding begins in the first year of post-graduate training. In return, participants agree to provide three (3) years of full-time clinical service defined as no less than 40 hours per week, for a minimum of 45 weeks a service year."

Most importantly part is that it is up to 30,000 per year. So I am guessing the options for dentists are
1. 1 Year AEGD/GPR + 3 year service = 120k
2. 4 years service = 120k

So for 5k more a year, they can assign doctors to higher HRSA scored areas and NHSC can probably budget better for years to come

Some state LRP might beat 30k a year too

 

[nonociceptors]

What are the base salaries for these LRPs? If they give you 30k per year for loans, what's your average take home? How does it compare to being in corporate or an associate position and dumping huge chunks of your income at the debt?

 

[Cold Front]

What are the base salaries for these LRPs? If they give you 30k per year for loans, what's your average take home? How does it compare to being in corporate or an associate position and dumping huge chunks of your income at the debt?

Typically $80-100k a year. Depending on location.

 

[nonociceptors]

Typically $80-100k a year. Depending on location.

So it seems like you'd be better of through a LRP if you're somewhere with income tax and high COL right?

 

[THS]

I still think it's better to put yourself in a position of practice ownership, take home more, and pay off loans with pre-tax dollars.

 

[Cold Front]

I still think it's better to put yourself in a position of practice ownership, take home more, and pay off loans with pre-tax dollars.

While that might be true, one has to understand practice ownership requires additional loans, time and stress, but the pay off is very high once the business takes off. It's definitely not for everyone, but the path does produce a high return of investment and equity in the long run. So approach with caution if you don't understand the process.