Anyone else in the 400k+ debt bandwagon after the 2016 cycle?

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Likkriue said:
Eh, not my cup of tea. My parents offered to cover a ton of things for me but at the end of the day, there is a certain amount of learning and growing that comes with paying my own bills and tackling my financial responsibilities myself. I do have help from them but not to the point of having mommy cook my chicken nuggets for dinner.
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Lol. Really? You just made fun of a dental student for living with his parents? You're gonna make a great, level-headed dentist bud. You don't sound mature at all by the way. All I really saw is you rag on the poor dude for outdoing your poor calculations. He wants to be a dentist, so power to him. His debt isn't unmanageable if he plays it smart. And from what I've read, he knows what he's doing. (Taking out gigantic loans and ignoring parental help when it's there and when said parents are willing to help, is fiendishly stupid).
 
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placebooooo said:
I think I am in decent shape (it all really depends on my DAT). I have a 3.92, and I am taking the DAT on the 27th (but am probably going to postpone by a week to give myself some time to review). I saw your DAT score and you did amazing! congrats! I really don't think I can score as well as you did. My goal is a 23, but I feel I may end up with a 20-21, which I won't be too happy about. The DAT struggle is real.


This is a great thing to ask myself. My school choices aren't the best either (Upenn, Harvard, Columbia, Temple, NYU). My goal is Temple as I am a Philadelphian. I externed at Temple, loved it, and they are much cheaper (compared to my other options). If I get into Upenn and get some scholarships that'll bring down the cost significant enough, sure, I'll attend, especially since I want to specialize in ortho and love research. Harvard is a reach school. Columbia and NYU are my next closest options in terms of living. NYU is way too expensive, but yes, I will attend if it is the only school I get into. Columbia is on my list as well since it is also research heavy.

My schools are a stretch. Especially without my DAT scores. I'm struggling with my ps as well as it is the last component before submitting my app (and I have to submit by 22nd or else I forfeit my fee waiver). I don't have the best ECS, but they are decent enough. If only I was able to get my first author paper out in time 🙁 I mentioned in my research experience that I am currently working on a draft, if it matters to them.
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Why isn't Pitt on your list?
 
placebooooo said:
I'm only applying to 5 schools
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Bold. Especially looking at your school list and without knowing your DAT score. I've seen several threads dicussing the plight of great applicants that weren't accepted and at first it's hard to tell why, but then they say they only applied to 4-5 schools.

Big Hoss
 
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Namelessking said:
Lol. Really? You just made fun of a dental student for living with his parents? You're gonna make a great, level-headed dentist bud. You don't sound mature at all by the way. All I really saw is you rag on the poor dude for outdoing your poor calculations. He wants to be a dentist, so power to him. His debt isn't unmanageable if he plays it smart. And from what I've read, he knows what he's doing. (Taking out gigantic loans and ignoring parental help when it's there and when said parents are willing to help, is fiendishly stupid).
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My calculations aren't poor. If I didn't have to go to work today, I would show you the numbers. Interest accrues the moment you receive it. Stafford is a whopping 6% and glad plus is 7% this year. They are both estimated to go up the next few years.

I'm not opposed to him living with his parents. The one thing that irked me however was that he was going to live OFF his parents. Cell phone bill, internet, electricity, transportation. Etc etc the list goes on.

Sure he's not going to be paying but the money is still coming out of someone's elses pockets.
 
Likkriue said:
My calculations aren't poor. If I didn't have to go to work today, I would show you the numbers. Interest accrues the moment you receive it. Stafford is a whopping 6% and glad plus is 7% this year. They are both estimated to go up the next few years.

I'm not opposed to him living with his parents. The one thing that irked me however was that he was going to live OFF his parents. Cell phone bill, internet, electricity, transportation. Etc etc the list goes on.

Sure he's not going to be paying but the money is still coming out of someone's elses pockets.
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I'm really confused why those things you mentioned is a bad thing. If it's going to save you money in the long run and it's there, why not?

As long as the person knows how to budget and isn't completely finance illiterate (so that they know how to take care of their affairs once they graduate), there's no harm in doing so
 
I said it multiple times why I think it's bad. If you don't agree then you don't agree. Not my problem.

I will post my calculations tonight. I'm sure it is closer to 440k than 330k.

Are you planning to work in NY OP? Cause you will have to do a residency and that's something you have to consider for costs. I would move to NJ or something and moonlight.
 
Likkriue said:
My calculations aren't poor. If I didn't have to go to work today, I would show you the numbers. Interest accrues the moment you receive it. Stafford is a whopping 6% and glad plus is 7% this year. They are both estimated to go up the next few years.

I'm not opposed to him living with his parents. The one thing that irked me however was that he was going to live OFF his parents. Cell phone bill, internet, electricity, transportation. Etc etc the list goes on.

Sure he's not going to be paying but the money is still coming out of someone's elses pockets.
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Really now? Interest accrues on student loans? Would've never guessed it. It's called making interest-only payments each month. Look into it. And I do pay my own phone bill and I even help my parents out with their medical bills from time to time from the money I saved up after working for several years. Assumptions are fun aren't they? My interest rates are fixed at 6.31 % for the plus loan I took out this year. Cute how you got irked over someone else's living arrangements. Get off your pedestal dude, it's sickening. You, like most of us, are living off the tax payers with these loans. "Still someone else's money" indeed. I intend to shower my parents with the reward they deserve on top of paying back my debt to society once I'm a dentist. You're not as independent as you'd like to think.
 
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fit2 said:
True. I understand. I'm aware that me and like other people will have to borrow a good chunk of money. I was just confused why people always say NYU always runs you close to 500k. Definitely an expensive place to live but also pricy in general. Why do people never complain about Columbia being expensive? Isn't it just as expensive as NYU?
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Washington Heights (where Columbia is located) is a bit cheaper in terms of living cost than where NYU is located.


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magicwalrusknight said:
Indeed it is. But it can be less than a decade if someone really exhausts all their loan repayment options, but those are their own burdens too. Regardless, it's quite a valley to climb out of.
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This is true, but after those 10 years of struggle you're still making more than a large majority of people in the US.


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placebooooo said:
Do they offer some decent scholarships? I am planning to send an application their way, although I don't really see myself going there because of cost and living away from home. I'm only applying to 5 schools and thought to keep them on my list as a just in case kind of thing.
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I would apply to more than 5 schools, no matter your stats.


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Likkriue said:
My calculations aren't poor. If I didn't have to go to work today, I would show you the numbers. Interest accrues the moment you receive it. Stafford is a whopping 6% and glad plus is 7% this year. They are both estimated to go up the next few years.

I'm not opposed to him living with his parents. The one thing that irked me however was that he was going to live OFF his parents. Cell phone bill, internet, electricity, transportation. Etc etc the list goes on.

Sure he's not going to be paying but the money is still coming out of someone's elses pockets.
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If he was going to pay bills to his parents, why even live at home at that point? Seems to defeat the entire purpose. By the time you add all that up I doubt the savings would make it worth the hassle.


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wengerout said:
I would apply to more than 5 schools, no matter your stats.


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For applicants with above average stats, I think somewhere between 8-10 is a good number.

For those applying now or in the future, just remember each cycle you have to reapply is a year of lost income
 
8-10 is cute...from the perspective of an international. I think I'm applying to 14 and I might add 2-3 more
Kinda jealous of people that only have to apply to like 7-8 am s be sure that theyll get in
 
Likkriue said:
Nyu costs more than 400-430k.
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if you defer the insurance you can save a lot of $ and technically after all expenses including tuition and living ( your looking at roughly 90-92K) which is anywhere between 360-370K
 
BrooklynSmilez said:
if you defer the insurance you can save a lot of $ and technically after all expenses including tuition and living ( your looking at roughly 90-92K) which is anywhere between 360-370K
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Well you have to account for interest which applies from day one. It will definitely go over 400k. But it's manageable if you play your cards right 🙂
 
Namelessking said:
Well you have to account for interest which applies from day one. It will definitely go over 400k. But it's manageable if you play your cards right 🙂
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depending on how fast you plan to pay off your loans you can deff minimize the compounded interest but yea even 400K is deff a hole a dentist can climb out of assuming they have a decent work ethic
 
fit2 said:
8-10 is cute...from the perspective of an international. I think I'm applying to 14 and I might add 2-3 more
Kinda jealous of people that only have to apply to like 7-8 am s be sure that theyll get in
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I sure as hell hope so haha.
 
blablabla1 said:
I'm really confused why those things you mentioned is a bad thing. If it's going to save you money in the long run and it's there, why not?

As long as the person knows how to budget and isn't completely finance illiterate (so that they know how to take care of their affairs once they graduate), there's no harm in doing so
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People will rationalize to great lengths in an attempt to make themselves feel superior or smug. Let him have the moment. I also start my own fires instead of using my family's stove because that's taking advantage and taking it the easy way. Of course my parents thought it would be better for me to use the stove but it's time to be self sufficient. Everyone else will be able to cook as well as I do in the future and have less stress but I earned it!!!
 
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Medin2017 said:
People will rationalize to great lengths in an attempt to make themselves feel superior or smug. Let him have the moment. I also start my own fires instead of using my family's stove because that's taking advantage and taking it the easy way. Of course my parents thought it would be better for me to use the stove but it's time to be self sufficient. Everyone else will be able to cook as well as I do in the future and have less stress but I earned it!!!
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:laugh: don't forget to make your own spoons out of cast iron till you can afford to go to the age of steel.
 
magicwalrusknight said:
Really now? Interest accrues on student loans? Would've never guessed it. It's called making interest-only payments each month. Look into it. And I do pay my own phone bill and I even help my parents out with their medical bills from time to time from the money I saved up after working for several years. Assumptions are fun aren't they? My interest rates are fixed at 6.31 % for the plus loan I took out this year. Cute how you got irked over someone else's living arrangements. Get off your pedestal dude, it's sickening. You, like most of us, are living off the tax payers with these loans. "Still someone else's money" indeed. I intend to shower my parents with the reward they deserve on top of paying back my debt to society once I'm a dentist. You're not as independent as you'd like to think.
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Are you an incoming D1 or are you going into D2? There's a difference in pricing between the two. You didn't include much in your post. Don't get so defensive, this is a online anonymous forum.
 
Likkriue said:
Are you an incoming D1 or are you going into D2? There's a difference in pricing between the two. You didn't include much in your post. Don't get so defensive, this is a online anonymous forum.
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Tells someone not to get defensive after insulting them....kek. I wonder if you'll tell your patients not to get defensive after you passive-aggressively insult them after one of their complaints. And he's very clearly going to be a D1 going off his original post.
 
I think it's funny what we argue about in dental haha. Check out the med section it's more than about money over there
 
Accesslex

Grad plus loans are 7% for the 2017-2018 year, I don't understand how he got 6.31 since that is last years amount for grad plus.

Which is why I'm confused whether he is a oncoming d1 or not.

Take a chill pill, no need to get upset over a anonymous forum. I even have him advice about moonlighting during residency or just going to NJ to skip residency.

In addition there is the 1% and 4.21% origination fees for the stafford and plus loans respectively.(Another 3k a year depending on how much of each.)
 
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What are they worried about there lol?
 
ThirdMolarz said:
I think it's funny what we argue about in dental haha. Check out the med section it's more than about money over there
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i frequently browse the med section. There's always posts about lifestyle and money (what specialty will be lucrative in x years, what specialty not known will make a lot of money, what are the lifestyle specialties, etc). Trust me when I say there are more posts about money in their MD section than our dental section. But our predent section has more stuff worrying about debt because debt is a major factor while their premed section is worried about getting in since competition is probably a little higher.
The premeds/m1s that wander into threads arguing about how it's important to be altruistic and we need universal healthcare and money isn't everything always get absolutely ravaged by actual docs/residents.

Also we get less political on here than they do in general which is nice.

I do envy how they have way more professionals of different specialties on their page while we only have like 2-3 omfs and maybe 2 orthodontists and like 2 pediatric dentists that frequently post. Maybe because more premeds used sdn and ended up being adults and wanted to give back, but they have a lot more "upper level" users (attendings, residents, etc) than we do. Also I love how type A they are which causes more discussion on study habits and stuff like that.
 
Medin2017 said:
i frequently browse the med section. There's always posts about lifestyle and money (what specialty will be lucrative in x years, what specialty not known will make a lot of money, what are the lifestyle specialties, etc). Trust me when I say there are more posts about money in their MD section than our dental section. But our predent section has more stuff worrying about debt because debt is a major factor while their premed section is worried about getting in since competition is probably a little higher.
The premeds/m1s that wander into threads arguing about how it's important to be altruistic and we need universal healthcare and money isn't everything always get absolutely ravaged by actual docs/residents.

Also we get less political on here than they do in general which is nice.

I do envy how they have way more professionals of different specialties on their page while we only have like 2-3 omfs and maybe 2 orthodontists and like 2 pediatric dentists that frequently post. Maybe because more premeds used sdn and ended up being adults and wanted to give back, but they have a lot more "upper level" users (attendings, residents, etc) than we do. Also I love how type A they are which causes more discussion on study habits and stuff like that.
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The times are a changin. I think there's been a shift towards more "type A" students in dental, which is a good thing.
 
Medin2017 said:
The premeds/m1s that wander into threads arguing about how it's important to be altruistic and we need universal healthcare and money isn't everything always get absolutely ravaged by actual docs/residents.
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Link? I'm curious to see what they have to say.


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wengerout said:
Link? I'm curious to see what they have to say.


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Funny one: Societal Interpretation of a Physician's Monetary Worth
"Why do we let premeds post here? It's always the same idealistic bullcrap, nonsense statistics of dubious veracity, overwhelming naivety and complete misunderstanding of how physicians are paid. Anyone who talks about salaries has no idea what they are talking about."

"Your job as a premed is to have your mouth shut and your ears open, and to absorb the wisdom that those of us who are in the position in which you desire to be have to give you. Too many premeds are so entitled these days."

Here's a funny quote in this thread started by a premed Should MDs take a pay cut to make healthcare more affordable?
"Wow, a pre-med creating a thread advocating for socialized medicine and cutting physician pay. About as unique as a loaf of bread in a bakery.
But it's all good, the premeds who start this way grow up and learn. I still fondly remember the kids in my med school class who, during MS1, advocated for the same things. By MS4 most of them had changed their tune and were matching Ortho, Derm, ENT, Anes, etc.
Funny how years of hard work and sacrifice can change one's perspective."


Another thread with quotes knocking doeeyed premeds: Physician Salaries - below 100K
"A lot of premeds want us to raise our hands and sing kumbaya and give free care to everyone and have doctors live in the upper lower class until Hippocrates returns and gives out infinite health care to all.
It is just this mindset that makes many other professions (rightfully) think that doctors as a group are pushovers."
"The cure for the pre-med kumbaya is med school, residency, and being pushed into the real world of a practicing physician."



Premed being snarky about how money isn't everything: If you went to a medical school interview or residency interview, and they asked why you wanted to be a doctor or x specialty, and you gave the reason 'to make as much money as possible', how do you think it would turn out?
Response: Why are premeds allowed here?

There was a thread that was talking about universal healthcare where an M1 was arguing for universal healthcare and everyone else was pretty much shooting him down
"No one in this thread is having their minds changed."
Response: Except for all the bleeding hearts when they grow up and realize the world doesn't run on butterfly kisses and rainbows.
Yale medical students issue demands for diversity




Took me a few minutes to look some up but there's definitely a lot more out there. They are absolutely savage and I love it. Especially when I think of all the annoying premeds at my uni who wanted to save the world.
 
Medin2017 said:
Funny one: Societal Interpretation of a Physician's Monetary Worth
"Why do we let premeds post here? It's always the same idealistic bullcrap, nonsense statistics of dubious veracity, overwhelming naivety and complete misunderstanding of how physicians are paid. Anyone who talks about salaries has no idea what they are talking about."

"Your job as a premed is to have your mouth shut and your ears open, and to absorb the wisdom that those of us who are in the position in which you desire to be have to give you. Too many premeds are so entitled these days."

Here's a funny quote in this thread started by a premed Should MDs take a pay cut to make healthcare more affordable?
"Wow, a pre-med creating a thread advocating for socialized medicine and cutting physician pay. About as unique as a loaf of bread in a bakery.
But it's all good, the premeds who start this way grow up and learn. I still fondly remember the kids in my med school class who, during MS1, advocated for the same things. By MS4 most of them had changed their tune and were matching Ortho, Derm, ENT, Anes, etc.
Funny how years of hard work and sacrifice can change one's perspective."


Another thread with quotes knocking doeeyed premeds: Physician Salaries - below 100K
"A lot of premeds want us to raise our hands and sing kumbaya and give free care to everyone and have doctors live in the upper lower class until Hippocrates returns and gives out infinite health care to all.
It is just this mindset that makes many other professions (rightfully) think that doctors as a group are pushovers."
"The cure for the pre-med kumbaya is med school, residency, and being pushed into the real world of a practicing physician."



Premed being snarky about how money isn't everything: If you went to a medical school interview or residency interview, and they asked why you wanted to be a doctor or x specialty, and you gave the reason 'to make as much money as possible', how do you think it would turn out?
Response: Why are premeds allowed here?

There was a thread that was talking about universal healthcare where an M1 was arguing for universal healthcare and everyone else was pretty much shooting him down
"No one in this thread is having their minds changed."
Response: Except for all the bleeding hearts when they grow up and realize the world doesn't run on butterfly kisses and rainbows.
Yale medical students issue demands for diversity




Took me a few minutes to look some up but there's definitely a lot more out there. They are absolutely savage and I love it. Especially when I think of all the annoying premeds at my uni who wanted to save the world.
Click to expand...
The "Naked Communist" should be mandatory reading. It'd open a lot of eyes to the fallacies of Marxism and the like. Something close to 100 million innocent people were killed by communist despots last centery. Karl Marx, in reality, was just a lazy, deadbeat dad. His wife and children would be at home literally starving while he was off at the library working on his "theories." Shunning personal responsibility like the vast majority in society today. A real man would have done anything and everything to provide for his family. I'm blown away every day by the prevailing ignorance of and attempts to rewrite history.

Big Hoss
 
Medin2017 said:
Funny one: Societal Interpretation of a Physician's Monetary Worth
"Why do we let premeds post here? It's always the same idealistic bullcrap, nonsense statistics of dubious veracity, overwhelming naivety and complete misunderstanding of how physicians are paid. Anyone who talks about salaries has no idea what they are talking about."

"Your job as a premed is to have your mouth shut and your ears open, and to absorb the wisdom that those of us who are in the position in which you desire to be have to give you. Too many premeds are so entitled these days."

Here's a funny quote in this thread started by a premed Should MDs take a pay cut to make healthcare more affordable?
"Wow, a pre-med creating a thread advocating for socialized medicine and cutting physician pay. About as unique as a loaf of bread in a bakery.
But it's all good, the premeds who start this way grow up and learn. I still fondly remember the kids in my med school class who, during MS1, advocated for the same things. By MS4 most of them had changed their tune and were matching Ortho, Derm, ENT, Anes, etc.
Funny how years of hard work and sacrifice can change one's perspective."


Another thread with quotes knocking doeeyed premeds: Physician Salaries - below 100K
"A lot of premeds want us to raise our hands and sing kumbaya and give free care to everyone and have doctors live in the upper lower class until Hippocrates returns and gives out infinite health care to all.
It is just this mindset that makes many other professions (rightfully) think that doctors as a group are pushovers."
"The cure for the pre-med kumbaya is med school, residency, and being pushed into the real world of a practicing physician."



Premed being snarky about how money isn't everything: If you went to a medical school interview or residency interview, and they asked why you wanted to be a doctor or x specialty, and you gave the reason 'to make as much money as possible', how do you think it would turn out?
Response: Why are premeds allowed here?

There was a thread that was talking about universal healthcare where an M1 was arguing for universal healthcare and everyone else was pretty much shooting him down
"No one in this thread is having their minds changed."
Response: Except for all the bleeding hearts when they grow up and realize the world doesn't run on butterfly kisses and rainbows.
Yale medical students issue demands for diversity




Took me a few minutes to look some up but there's definitely a lot more out there. They are absolutely savage and I love it. Especially when I think of all the annoying premeds at my uni who wanted to save the world.
Click to expand...

Thanks! Very enlightening.
 
Big Time Hoosier said:
The "Naked Communist" should be mandatory reading. It'd open a lot of eyes to the fallacies of Marxism and the like. Something close to 100 million innocent people were killed by communist despots last centery. Karl Marx, in reality, was just a lazy, deadbeat dad. His wife and children would be at home literally starving while he was off at the library working on his "theories." Shunning personal responsibility like the vast majority in society today. A real man would have done anything and everything to provide for his family. I'm blown away every day by the prevailing ignorance of and attempts to rewrite history.

Big Hoss
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it's just young people mostly. I read every generation grows more conservative as they age and actually pay taxes.
 
Medin2017 said:
it's just young people mostly. I read every generation grows more conservative as they age and actually pay taxes.
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I've heard the saying: If you're 18 and not liberal, you have no heart. If you're 30 and not conservative, you have no brain.

Big Hoss
 
Big Time Hoosier said:
I've heard the saying: If you're 18 and not liberal, you have no heart. If you're 30 and not conservative, you have no brain.

Big Hoss
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Same. But now since it's such a fad there's some societal pressure to stay liberal
 
Medin2017 said:
Same. But now since it's such a fad there's some societal pressure to stay liberal
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You know what's an awesome day? The day you realize you don't care what other people think of you. Wear that "Make America Great Again" hat with pride!

Big Hoss
 
Big Time Hoosier said:
You know what's an awesome day? The day you realize you don't care what other people think of you. Wear that "Make America Great Again" hat with pride!

Big Hoss
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Oh of course I don't care what people around my age do, but many people are influenced by nowthis videos and fb shares lol.

Rekker said:
There is?
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Among people who went to my undergrad and highschool, yes. And my college is pretty much the opposite of like California culture. Also just check reddit which is filled with 20 something year olds all sprouting the whole "europe > USA" stuff.
 
Medin2017 said:
Oh of course I don't care what people around my age do, but many people are influenced by nowthis videos and fb shares lol.


Among people who went to my undergrad and highschool, yes. And my college is pretty much the opposite of like California culture. Also just check reddit which is filled with 20 something year olds all sprouting the whole "europe > USA" stuff.
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I'm sure the average Reddit user is liberal. Trying to propagate sustainable change through politics is comical.
 
IMG_0501.JPG


Big Hoss
 
Okay so I did some research and the interest rates depend on when the loans are disbursed. @magicwalrusknight I don't know how NYUs loan package works, if you got the full amount before July 1st then yes it is capped for all loans taken out before July 1st at 6.31% for the plus loans. But PLUS loans disbursed AFTER July 1st are 7%. Most schools disburse loans at the start of the academic term, which for most schools is after July 1st, so you have to be careful with what NYU is telling you.

But for now, I'll use the interest rate of 6.31% for my calculations. Are you taking out any stafford loans? I know some people use up their stafford loans for undergrad so not everyone has access to those. But I'll do your calculations with optimism that you do indeed have the 40500 per year stafford loan available. I am also doing this assuming you can waive their health insurance.

NYU tends to hike their tuition 4-5%, which is pretty consistent for the past 4 years of tuition sheet data I looked at. So around 3k or so. This years tuition was also confirmed by one of the faculty members to me but that is word of mouth and might not be accurate.

2017-2018 $75820.16 + $10640 + stafford loan origination fee of $405 + PLUS loan origination fee of 4.2% on remaining balance after I chopped 40500 off $1962 =
$88422
2018-2019 $78852.8 + $8782 + $405(stafford) + $2012(plus) =
$89647
2019-2020 $82006.08 + $10444 + $405(stafford) + $2218(plus)=
$94668
2020-2021 $85286.24 + $8642 + $405(stafford) + $2281(plus)=
$96209

I know the tuition rate hikes look shocking, but NYU in 2011-2012 costed 60k. 2015-2016 it was 70k. Them jumping the tuition 10k every 4 years is the trend.

Another thing I found on NYUs tuition sheet that really annoyed me was their loan origination fee of 216$? Stafford is a 1% loan origination fee and PLUS are 4.2%, I don't know where they get 216$ from.

Okay so onto my interest calculations assuming you skip residency and work after 4 years.

40500 * 1.229(1.0531 ^ 4) 49774
40500 * 1.167 (1.0531 ^ 3) 47263
40500 * 1.109 (1.0531 ^ 2) 44914
40500 * 1.0531 (1.0531) 42650

Those are your 4 years of stafford loans. Now the Grad PLUS loans

47922 1.277(1.0631 ^ 4) 61197
49147 1.201(1.0631 ^ 3) 59026
54168. 1.13(1.0631 ^2) 61210
55709 1.0631(1.0631) 59224

So if we add all the numbers up you get a grand total of $425K which is within OPs original estimation of 400-430k.

The one thing to consider is that this is all has to happen.

1. interest rates lock in at 6.31%(although I really think its 7% when you get the disbursement, i'll ask some NYU dental friends about this) for the next four years (might go down but are expected to increase)
2. OP waives health insurance
3. There are no other additional hidden fees NYU might have. (their vast underestimation of origination fees have me squinting my eyes)
4. You still have your full amount of stafford available to you.
5. No previous loans.
6. Parents cover everything else including food, bills, transportation, entertainment, girlfriend, clothes etc etc for the next 4 years.
7. You start working immediately after 4 years, which means you have to work outside of NY and begin to tackle those loans. Because when the loan capitalizes, thats when all hell breaks lose.
8. You study hard and do not, let me repeat do NOT fail out or repeat a year. Under no circumstances with numbers this big do you allow this to happen. 10 people in total didn't make it to year 3 clinic on time for whatever reason(repeating a year, dropping out, got kicked out or taking leave of absence) for this upcoming year. Leave of absence isn't as bad as the other 3, however interest is still building for the year.

If I made any mistakes please let me know, but I think its pretty accurate for your situation. Wish you the best of luck and I hope you do well. If you have money saved up that would make the amount you have to take out even less.
 
330k in loans @ 6.5% interest across 20 years will cost you 2400 a month. 400k in loans at similar numbers will be 3000 a month. Take a chill pill, your career isn't at stake because of a 2-3000$ loan payment. It sucks it'll be for 20 years but it's likely you'll be able to pay it off quicker than that as your career advances.

There really isn't anything to worry about as long as you have confidence in your ability to thrive in the future. I don't come on here anymore because 99% of people are pessimistic about the future.
 
magicwalrusknight said:
I heard some people say they'd rather give up on dentistry than go into that level of debt so it's kinda leaving me wondering if it'll be worth it. Half of my mind says yes; the other half isn't so sure.
Click to expand...

You have an advantage in that you realize how much debt that is and you can plan ahead or even chip away at it during dental school. Plus it could be worse like some of the schools (NYU included, even though you'll be saving money) that put you at $500k and above.

Likkriue said:
If I made any mistakes please let me know, but I think its pretty accurate for your situation. Wish you the best of luck and I hope you do well. If you have money saved up that would make the amount you have to take out even less.
Click to expand...

Great post @Likkriue. It's too bad most pre-dents probably don't put that much thought into it.

Also it's kind of interesting to see all the frequent posters on here a lot less. @Incis0r dropped off the face of the Earth apparently. I kind of gave up on detailed posts myself... which is probably a good idea with dental school starting in a week.
 
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