Why Midwestern AZ?

[ajj70]

MWU-AZ total cost is 428K (https://www.midwestern.edu/Documents/Financial Aid documents/COA Forms/2015-16 AZ/Dental _ AZ 1516 final.pdf). This assumes no further tuition increases, which WILL happen.

40K a year is only going to result in 400K after 10 years.

Total cost of attending MWU-AZ is 428K + interest.
Over 10 years, you will pay a total of 557K for a MWU-AZ Dental education...That's 129K in interest.

This assumes 7% interest rate and $4644/mo payment.
As an aside, you CAN live frugally for less than 50K a year, depending on the location. However, I think your 50K includes a yearly savings/rainy day budget, in which case 50K is reasonable.

I was speaking more generally and thinking of about 400K total. I was thinking the 50K after loans, insurance, 401K's, etc. Heck, 30K would be reasonable in many areas of the country, at least before kids come along.

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[Blackhorse90]

This is my top school. After visiting for two days I hope to get in and go here, especially after meeting with one of the doctors on the admissions board.

 

[Incis0r]

I was speaking more generally . I was thinking the 50K after loans, insurance, 401K's, etc. Heck, 30K would be reasonable in many areas of the country, at least before kids come along.

Glad to hear a voice of reason regarding frugal living. 100% Agreed.

 

[ajj70]

Someone posted several months ago about how they were working at a Dental Mill for the exact reasons you posted, but also planning on only staying for about 3 years or so until the bulk or all of his loans were paid off. That is my plan B for now, plan A is got get either the underserved scholarship or military .

 

[ajj70]

Mainly I'd like to get the bulk of my loans paid down before kids come and be well on my way to private practice. I think because I'm planning on living/working in a rural area that I may have a bit more luck with that earlier on, but we will see. I'd like to add endo and ortho as certificates, at least that is the plan now, so I can be more of a "full service" dentist.

 

[Incis0r]

Mainly I'd like to get the bulk of my loans paid down before kids come and be well on my way to private practice. I think because I'm planning on living/working in a rural area that I may have a bit more luck with that earlier on, but we will see. I'd like to add endo and ortho as certificates, at least that is the plan now, so I can be more of a "full service" dentist.

Just the fact that you've thought about loans puts you in a great position for the future.

 

[ajj70]

Just the fact that you've thought about loans puts you in a great position for the future.

Ingrained...mom is a retired Financial Planner.

 

[customx]

Spend some time on Dental Town to see what dentists are actually making. You won't be paying a $420k loan off in a few years, but you should be able to live a comfortable lifestyle and pay off the loan in 10-12 years. It's quite common to see associates making anywhere from 100-130k the first couple of years. Nearly everyone on Dental Town advises owning your own practice to increase income. Of course you'll take on even more debt, but from the information I've gathered, you should expect a boost in income to 240k+ annually once you own a practice. This will make paying off the loan a bit easier, but owning a practice isn't cheap either.

 

[Incis0r]

Spend some time on Dental Town to see what dentists are actually making. You won't be paying a $420k loan off in a few years, but you should be able to live a comfortable lifestyle and pay off the loan in 10-12 years. It's quite common to see associates making anywhere from 100-130k the first couple of years. Nearly everyone on Dental Town advises owning your own practice to increase income. Of course you'll take on even more debt, but from the information I've gathered, you should expect a boost in income to 240k+ annually once you own a practice. This will make paying off the loan a bit easier, but owning a practice isn't cheap either.

Lots of benefits to owning a practice..including the greater control over your own future.

That said, I'm not sure where you got the 240K+ figure from...I'd say it's closer to 160-220K for the majority on there.

There is a significant portion that are outliers with 230K+ incomes, but I'm not sure if that's the norm.

 

[customx]

Lots of benefits to owning a practice..including the greater control over your own future.

That said, I'm not sure where you got the 240K+ figure from...I'd say it's closer to 160-220K for the majority on there.

There is a significant portion that are outliers with 230K+ incomes, but I'm not sure if that's the norm.

I'd say that's an average figure. I get a lot of info from the Finance forum over there. There are a ton of threads where people claim to make 300k+, but I realize this is the Internet, where people are known to always tell the truth.

 

[Incis0r]

I'd say that's an average figure. I get a lot of info from the Finance forum over there. There are a ton of threads where people claim to make 300k+, but I realize this is the Internet, where people are known to always tell the truth.

Great section of DT. Everyone should have an account with them. My favorite thread is the OFFICIAL PASSIVE INCOME thread.

 

[customx]

Great section of DT. Everyone should have an account with them. My favorite thread is the OFFICIAL PASSIVE INCOME thread.

I check that thread every couple of days. I'm always buying and selling things from Craigslist to make a few bucks. Currently I am trying to formulate ways to make some passive income while in school. My plan is to focus entirely on school this fall, but I have a few ideas I want to try in the winter that may only take 5-10 hours a week. I'm slowly transitioning off SDN and spending more and more time on DT, soooooo much good info there

 

[Incis0r]

I check that thread every couple of days. I'm always buying and selling things from Craigslist to make a few bucks. Currently I am trying to formulate ways to make some passive income while in school. My plan is to focus entirely on school this fall, but I have a few ideas I want to try in the winter that may only take 5-10 hours a week. I'm slowly transitioning off SDN and spending more and more time on DT, soooooo much good info there

Huh - interesting. I'm trying to do the same. Currently have an idea that I'm trying to get off the floor. It'll bring me a little bit of passive income a semester.

Great resource to learn and grow. 100% agreed.