How do students afford dental school?

[sumin5924]

Just out of curiosity, how do most students pay for dental school? What's the "best" way?
Public school tuitions seem manageable, but when I see the pricetags on some private institutions...I just can't even.

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[Bifenthrin]

There's this lovely thing called student loans. Covers all expenses and doesn't need to be worried about until six months after graduation and/or residency is over.

 

[AlbinoPolarBear]

If you can get into dental school, and you have no credit or decent credit, they will loan you everything you need. This includes tuition, fees and a modest living allowance (how much depends on where you live - usually around 20k, but up to 35k for NYU).

Even if you have really bad credit, you can get someone with decent credit to cosign for you.

 

[Marmalade]

In my class, about 90% had loans.

 

[okiedokeartichoke]

If you can get into dental school, and you have no credit or decent credit, they will loan you everything you need. This includes tuition, fees and a modest living allowance (how much depends on where you live - usually around 20k, but up to 35k for NYU).

Even if you have really bad credit, you can get someone with decent credit to cosign for you.

By living allowance, does this include money for rent, food, gas, clothes, etc.?

 

[AlbinoPolarBear]

By living allowance, does this include money for rent, food, gas, clothes, etc.?

Yeah. You won't be able to live like a king, but it's a decent amount if you know how to budget.

 

[okiedokeartichoke]

Yeah. You won't be able to live like a king, but it's a decent amount if you know how to budget.

Thanks! I'm generally a simple and frugal person anyway, but it's nice knowing we get a living allowance as well.

 

[DentalLonghorn2014]

There's this lovely thing called student loans. Covers all expenses and doesn't need to be worried about until six months after graduation and/or residency is over.

I'm sorry for the ignorance but are you referring to subsidized and unsubsidized loans like in undergrad? Is that all they provide? Or are there other type of loans available?

 

[oralcare123]

The hell comes when you need to start paying them off

 

[dp93]

a kidney goes for as much as 260,000 dollars.

 

[oralcare123]

How many sperm donations will it take to pay off a student loan?

 

[SpartanWolverine]

I'm sorry for the ignorance but are you referring to subsidized and unsubsidized loans like in undergrad? Is that all they provide? Or are there other type of loans available?

You can get private loans (e.g., Wells Fargo MedCAP), but the majority of people use unsubsidized Federal loans (Stafford & PLUS). Subsidized loans are no longer available for graduate education.

 

[DentalLonghorn2014]

You can get private loans (e.g., Wells Fargo MedCAP), but the majority of people use unsubsidized Federal loans (Stafford & PLUS). Subsidized loans are no longer available for graduate education.

I see. However, Bifenthrin said that we would not have to worry about paying the loans off until 6months post graduation. I thought that for these loans, you must pay the accumulated interest asap?

 

[SpartanWolverine]

I see. However, Bifenthrin said that we would not have to worry about paying the loans off until 6months post graduation. I thought that for these loans, you must pay the accumulated interest asap?

Nope! You get a six month grace period after finishing school. Interest does begin to ACCRUE immediately after disbursement (unlike subsidized loans) but does not have to be paid back immediately.

 

[strep mutans]

I see. However, Bifenthrin said that we would not have to worry about paying the loans off until 6months post graduation. I thought that for these loans, you must pay the accumulated interest asap?

Unsubsidized loans accrue interest while you are in school starting the day they are disbursed, but you don't need to start any repayment until after you graduate. However, it is to your financial advantage to keep up with the accruing interest each month, because any unpaid interest will be capitalized (added to the principal balance) at the end of your grace period (usually 6 months after graduation), so then you are charged interest on your interest, basically. It's best to pay the interest as it accrues, but it is not required.

 

[DentalLonghorn2014]

Nope! You get a six month grace period after finishing school. Interest does begin to ACCRUE immediately after disbursement (unlike subsidized loans) but does not have to be paid back immediately.

Oh I see!! Thank you.

 

[DentalLonghorn2014]

Unsubsidized loans accrue interest while you are in school starting the day they are disbursed, but you don't need to start any repayment until after you graduate. However, it is to your financial advantage to keep up with the accruing interest each month, because any unpaid interest will be capitalized (added to the principal balance) at the end of your grace period (usually 6 months after graduation), so then you are charged interest on your interest, basically. It's best to pay the interest as it accrues, but it is not required.

So... question (sorry OP for hijacking this thread lol)
Does this apply to undergrads also? I'm in the dilemma of choosing either subsidized or unsub or both since I am no longer eligible for state grants.. So if I choose the unsub, the interest will start to accrue. If I get into dental school the following year, they will just add on top of my dental school loans correct?

 

[strep mutans]

So... question (sorry OP for hijacking this thread lol)
Does this apply to undergrads also? I'm in the dilemma of choosing either subsidized or unsub or both since I am no longer eligible for state grants.. So if I choose the unsub, the interest will start to accrue. If I get into dental school the following year, they will just add on top of my dental school loans correct?

Idk the specifics of your loan options, but generally you should try to get subsidized loans until you reach the limit before switching to unsub, because yes, it applies to undergrad as well.

When you start dental school, you will apply for a grace period because you will again be a full time student; you won't need to make payments on your undergrad loans while in dental school. The interest accruing during this time on subsidized loans will be paid by the fed govt, while the interest on unsub loans will continue to accrue as it did during undergrad, will be capitalized at the end, etc.

**This is all in regards to federal loans (called Direct Loans now?), NOT private. Private loans have different rules.

This is all to the best of my knowledge... I'm not a financial aid expert, and I recommend you discuss it with a fin aid counselor at your school if possible. You can also find out a lot by googling, looking here https://studentaid.ed.gov/sa/types/loans, etc.

 

[DentalLonghorn2014]

Idk the specifics of your loan options, but generally you should try to get subsidized loans until you reach the limit before switching to unsub, because yes, it applies to undergrad as well.

When you start dental school, you will apply for a grace period because you will again be a full time student; you won't need to make payments on your undergrad loans while in dental school. The interest accruing during this time on subsidized loans will be paid by the fed govt, while the interest on unsub loans will continue to accrue as it did during undergrad, will be capitalized at the end, etc.

**This is all in regards to federal loans (called Direct Loans now?), NOT private. Private loans have different rules.

This is all to the best of my knowledge... I'm not a financial aid expert, and I recommend you discuss it with a fin aid counselor at your school if possible. You can also find out a lot by googling, looking here https://studentaid.ed.gov/sa/types/loans, etc.

I now know why being an adult can suck. lol thanks again man.

 

[Bifenthrin]

I'm sorry for the ignorance but are you referring to subsidized and unsubsidized loans like in undergrad? Is that all they provide? Or are there other type of loans available?

Federal Stafford loans as well as graduate PLUS loans. Both federal, and between the two everything is covered because there is no limit on a PLUS loan.

 

[FlyingSky]

 

[PocketRocket]

Lol I'm not tall enough to donate sperm. You have to be like 5'10, I'm 5'8. Oh and I'm going to make the final table at the WSOP main event one day and that will take care of my loans

 

[DentalLonghorn2014]

Federal Stafford loans as well as graduate PLUS loans. Both federal, and between the two everything is covered because there is no limit on a PLUS loan.

Thank you!

 

[sbdento]

loans, son

 

[deleted158872]

Unless you're dead set on becoming specialized, (90% of dental students don't specialize anyway), you should take advantage of NHSC scholarship! Google about it.

 

[jahnavi bhatt]

Unless you're dead set on becoming specialized, (90% of dental students don't specialize anyway), you should take advantage of NHSC scholarship! Google about it.

What is NHSC scholarships? ???

 

[deleted158872]

What is NHSC scholarships? ???

https://nhsc.hrsa.gov/scholarships/

 

[apcks]

Most students cannot on their own.

The best way is to reduce the amount of debt by going to a public school and avoid/refuse the the private ones, or if you have a better career option/path.

Also you can use excel to calculate how long it will take you to pay back the loan, and choose wisely.

 

[jahnavi bhatt]

Can international students get NHSC scholarships? ???

 

[strep mutans]

Can international students get NHSC scholarships? ???

No, you must be a US citizen or US national.

 

[jahnavi bhatt]

Can international students get scholarships

 

[deleted158872]

No, you must be a US citizen or US national.

US permanent resident OR citizen.

 

[strep mutans]

US permanent resident OR citizen.

Are you sure?

All the info I've found on the NHSC website states that to be eligible for the Scholarship Program, you must be a US citizen or US national, which is not the same as permanent resident (see http://www.immihelp.com/immigration/us-national.html).

I also read that you must be a US citizen or US national to be eligible for the federal NHSC Loan Repayment Program, but that certain NHSC State Loan Repayment Programs will consider permanent residents because eligibility varies by state.

 

[deleted158872]

Are you sure?

All the info I've found on the NHSC website states that to be eligible for the Scholarship Program, you must be a US citizen or US national, which is not the same as permanent resident (see http://www.immihelp.com/immigration/us-national.html).

I also read that you must be a US citizen or US national to be eligible for the federal NHSC Loan Repayment Program, but that certain NHSC State Loan Repayment Programs will consider permanent residents because eligibility varies by state.

that is surprising. I don't know the difference b/w "US citizen" and "US national", though.
you should contact the program and ask for official answer

 

[Hannah Banana]

that is surprising. I don't know the difference b/w "US citizen" and "US national", though.
you should contact the program and ask for official answer

I think US National applies to individuals who were born in US Territories (Puerto Rico etc.) and not in the 50 states.

 

[strep mutans]

I think US National applies to individuals who were born in US Territories (Puerto Rico etc.) and not in the 50 states.

US National = American Samoa, Commonwealth of the Northern Mariana Islands

Full US Citizen = 50 states, Puerto Rico, Guam, US Virgin Islands