How many years in debt?

[Bickle]

I know that everyone's situation is different, but those of who are in dental school, how many years after graduation do you anticipate being in student debt?

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[Yah-E]

I'll have roughly $300K in debts by the time I earn my DMD degree. If I continue to specialize in OMS/MD there may be more loans for the two years of medical school (some MD education will be free depending on which residency I get accept to and choose).

I'm aiming to pay back all my debts within 10 years from graduation. I'm planning to use at least 50% of my income pay back towards loans and live conservatively for those 10 years.

 

[aphistis]

Thanks to my gig with the National Guard, I'm expecting to come out with $30,000 debt or so. I should have that paid off in five years or less, with relatively negligible impact on my lifestyle. Here's hoping!

 

[ItsGavinC]

Bill, 5 years for $30,000!?! You should be able to do that in a year or less.

I'll be in about $200k, and plan on paying it all back within 7 years.

 

[aphistis]

Gavin, I agree, but I didn't want to sound too presumptuous. Plus, the Guard paybacks are spread out across three years, so I'll probably plan things so my last Guard payment finishes things off.

 

[blankguy]

Originally posted by ItsGavinC
Bill, 5 years for $30,000!?! You should be able to do that in a year or less.

I'll be in about $200k, and plan on paying it all back within 7 years.

Wow in 7 yrs! Is that the norm for people going into dentistry?

 

[ItsGavinC]

Some do it in 7, many do it within 10. It depends on where your priorities are, I suppose.

It is certainly doable, but that doesn't mean it'll be a "cush" life while I'm doing it.

 

[PashaJ]

It's possible to pay back the 200K within 5 years but you'd work 5 maybe 6 days a week for the first year.