• SDN Site Updates

    Hey everyone! The site will be down for approximately 2 hours on Thursday, August 5th for site updates.

  • How To ACE Your Medical School Interview

    In this webinar hosted by SDN with experts from BeMo Academic Consulting, you will learn a simple five-step process to help you translate your interview invitation into an acceptance.

DTrain13

New Member
Aug 24, 2011
10
0
Status (Visible)
  1. Pre-Dental
So I just made myself a budget to figure out how much I should ask for in loans and it totaled around 65 grand. :eek: I'm not eligable for any need-based help and i'm not interested in the military/ health service scholarships. Any other possibilities or suggestions to help lower the overall loan per year?
 

Kahr

Full Member
Moderator Emeritus
10+ Year Member
Feb 1, 2008
4,026
56
Okinawa, Japan
Status (Visible)
  1. Dentist
http://nhsc.hrsa.gov/loanrepayment/

This is health service, however it is not a scholarship or anything like the military. You work in an under served area after you finish school and they pay back your loans depending on how long you do it. This is what I would do if I were not doing the military or wanted to avoid any fixed long term obligations to a contract or some such.

Edit: Sorry if this doesn't exactly help while you're IN school, but I think knowing it's an option afterward can help ease your mind.
 

MAR89

Full Member
7+ Year Member
Apr 25, 2010
118
1
Status (Visible)
  1. Pre-Dental
Only 65k? That seems like a pretty modest amount considering most of us are going to be paying back 200-400k. I wouldn't be too upset about that :thumbup:

EDIT: nvm, I assume you meant 65k/yr which seems about average. Like Kahr said, there is the nhsc which not only offers the scholarship, but the loan repayment option as well. Each state has their own loan forgiveness gimmicks as far as I understand. In any case, I don't think it's really anything to worry about too much until you're well into your dschool studies.
 
About the Ads

jeffity

Full Member
7+ Year Member
Oct 23, 2009
2,536
272
Status (Visible)
  1. Dentist
It's about time we get that SDN lottery pool going.
 

DTrain13

New Member
Aug 24, 2011
10
0
Status (Visible)
  1. Pre-Dental
I'm right there with you jeffity lol... I'm probably just freaking out for no reason, but 250-300K seems like a ton of money for someone who has never borrowed before. I'm most likely just going to repay it the old school way... little by little and get screwed with the interest rate :laugh:
 

UltimateHombre

Doc Holliday D.D.S.
7+ Year Member
May 10, 2010
1,144
119
Status (Visible)
  1. Dental Student
I'm right there with you jeffity lol... I'm probably just freaking out for no reason, but 250-300K seems like a ton of money for someone who has never borrowed before. I'm most likely just going to repay it the old school way... little by little and get screwed with the interest rate :laugh:

No you are freaking out for very good reason man. Whether you have had loans before or not... 300K is a daunting number for anyone to borrow. To be honest, it is good that you are scared and trying to be fiscally responsible. I worry about these predents that think they are going to have the world after graduation.

Some rough numbers to think about, taken from a thread i recommend anyone reads: http://forums.studentdoctor.net/showthread.php?t=866015

Figures based on 120K starting salary and 350K in loans

Your anticipated income tax is $24,557
Loan Payment is $3463 a month. In a year, it is $41,556 in total
Total loan payment & Taxes : $66,113

$ 120,000 - $ 66,113 = $53,887

However this also doesn't include health, disability, malpractice, and life insurance... all of which are very important (life only if you have a spouse who would inherit your debt if you died). That could tack on another 10K+

EDIT: If you look at the corresponding Dentaltown thread.... it is scary. Like 95% of the dentists comment that it they had to pay 350K for school they would have either: 1. Gone through the military or 2. Chose a different profession. When that many dentists say something like that... it must be important.
 

kcakezzz

Full Member
Nov 16, 2011
106
0
Georgia
facebook.com
Status (Visible)
  1. Pre-Dental
Loans are definitely a big concern but how fast you pay them back are going to depend on your location and how YOU are willing to live (either blow tons of money or lay low key until its paid off). All the dentists I have spoke with in my area told me money is the last thing that needs to be on my mind as long as I plan on living modestly for a number of years (don't go out and buy a super nice car and giant house). There are lots of different programs to look into as well like the people above said, Aspen dental is another one (although its corporate dentistry) and I am actually looking into it for after I graduate. Good luck to you!
 

sacapuntas

Verified Account
Feb 25, 2011
1,544
115
Status (Visible)
  1. Dental Student
Loans are definitely a big concern but how fast you pay them back are going to depend on your location and how YOU are willing to live (either blow tons of money or lay low key until its paid off). All the dentists I have spoke with in my area told me money is the last thing that needs to be on my mind as long as I plan on living modestly for a number of years (don't go out and buy a super nice car and giant house). There are lots of different programs to look into as well like the people above said, Aspen dental is another one (although its corporate dentistry) and I am actually looking into it for after I graduate. Good luck to you!

Dentists in the past did not have the $$ concerns we have now. Tuition has absolutely skyrocketed in the last 10 years. Any dentist who graduated before then may not realize the debt we are actually taking on. The recently graduated dentists I know are all working like crazy to attempt to pay down their massive debts, and it is far from the last thing on their mind.
 

DTrain13

New Member
Aug 24, 2011
10
0
Status (Visible)
  1. Pre-Dental
]Dentists in the past did not have the $$ concerns we have now. Tuition has absolutely skyrocketed in the last 10 years. [/B]Any dentist who graduated before then may not realize the debt we are actually taking on. The recently graduated dentists I know are all working like crazy to attempt to pay down their massive debts, and it is far from the last thing on their mind.


That is very true, but at the same time lots of dentists in the past had gotten screwed on the terms of their student loans. I know a dentist who originally took out $80,000 and when all was said and done, he paid $250,000. I think what it will all come down to is how frugal you are willing to live for 5-10 years after graduating and paying it off as quickly as possible. Its a huge concern, but all I can do is hope that the investment is worthwhile.
 
About the Ads
This thread is more than 9 years old.

Your message may be considered spam for the following reasons:

  1. Your new thread title is very short, and likely is unhelpful.
  2. Your reply is very short and likely does not add anything to the thread.
  3. Your reply is very long and likely does not add anything to the thread.
  4. It is very likely that it does not need any further discussion and thus bumping it serves no purpose.
  5. Your message is mostly quotes or spoilers.
  6. Your reply has occurred very quickly after a previous reply and likely does not add anything to the thread.
  7. This thread is locked.