NYU worth the cost? Compared with Midwestern, ASDOH, UNLV, and Roseman.

[UtahDentist]

I'm trying to decide between NYU, Midwestern, ASDOH, UNLV, and Roseman. I've gotten into NYU and am on the waitlist in all of the others. If I do get an acceptance from the others, I'm wondering if it is worth forfeiting the deposit and going to the others. I've always heard that NYU is one of the most expensive dental schools in the nation, but when I looked into the tuition at all my other options, the tuition is around $80,000 - similar to NYU. Cost of living is the only factor that is different and besides, I'll need a car in AZ or UT but not in NYC so the way I see it, I wont really be saving too much money by going to any other school. But is NYU worth it? Is it true that earning capacity for dentists would be higher in NYC than Salt Lake, Phoenix, or Vegas? Are there any other factors that I should consider that I'm not looking at in this thread? Thank you in advance for your help!

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[dp93]

I'm trying to decide between NYU, Midwestern, ASDOH, UNLV, and Roseman. I've gotten into NYU and am on the waitlist in all of the others. If I do get an acceptance from the others, I'm wondering if it is worth forfeiting the deposit and going to the others. I've always heard that NYU is one of the most expensive dental schools in the nation, but when I looked into the tuition at all my other options, the tuition is around $80,000 - similar to NYU. Cost of living is the only factor that is different and besides, I'll need a car in AZ or UT but not in NYC so the way I see it, I wont really be saving too much money by going to any other school. But is NYU worth it? Is it true that earning capacity for dentists would be higher in NYC than Salt Lake, Phoenix, or Vegas? Are there any other factors that I should consider that I'm not looking at in this thread? Thank you in advance for your help!

never heard this. If anything, id think the opposite as NYC is so saturated.

 

[sgv]

Can't see the forest for the trees.

Look at the big picture bro. All of those schools are incredibly expensive. Regardless of how common these expensive dental schools are nowadays, you have to examine if borrowing this much money for a dental education will match your expectations of a dental career. Look at how much you'll be paying for any one of those schools. Borrowing $400,000 at 6-7% interests leaves you -$400,000 at the start of your career. Obviously that is not a good start. Do you realize how difficult it would be trying to pay off $400,000 as a general dentist? Paying $4,400 every month for a decade cuts your salary by - $52,800 per year. If you live in a saturated area, your salary is even lower than average.

I would look for routes that help pay off your loan like the military or public health instead of debating a fractional difference between these incredibly expensive schools. The problem of differentiating the cost between those schools pales in comparison to their total individual cost. In other words, you would be "screwed" either way. Too many predents don't sit down and calculate how much they'll end up paying for dental school. Instead, they'll ignore it, graduate, and become incredibly disappointed because their expectations were not accurate. Don't let there be any surprises relating to your loan repayment.

If you are true to yourself and are satisfied with your calculation of at least an approximation of your take home salary then go ahead and go to any one of these expensive dental schools. If not, find an escape route or consider another career.

To answer your question, I'd crunch the numbers of how much I'd save by going into any of the other schools and if that number is significant, I'd pay the deposit for NYU and wait things out.

 

[Incis0r]

I echo @sgv 's sentiment that you have many expensive schools on your list. Best to avoid these if you're taking out 100% loans.

You're in a tough spot right now with NYU. On the one hand, you have an acceptance into an expensive dental school and a guarantee of your future. On the other hand, if you are taking out 400K in loans, then you are putting yourself in a very poor financial position for life after dental school. It can still be done...if you extend your loan repayment to 30 years (360 months), your payment would be about $2.6K/month. But at that point, you'd really need to get out of dental school and kill it in private practice to prevent the loans from dragging you down till retirement.

BUT, ALL IS NOT LOST!!!!!

My research from this link (http://forums.studentdoctor.net/threads/in-state-tuition-for-oos-students.829873/) tells me that UNLV, of which you are on the wait list, DOES GIVE IN-STATE TUITION AFTER ONE YEAR! That's about 236K without living expenses. If you live frugally with a roommate ($500/month), you can definitely pull this off well!

If I were in your shoes, I'd definitely send UNLV a letter of intent and try to get in.

Suppose you take out 260K total over four years. Then your monthly payment becomes about 3K. If you do some work in public health, you can get ~2K/month paid off by NHSC loan repayment (if the area is high need) and take 1k/month from your own salary.