Debt going into D-school?

[mlle]

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I'm curious about how much $ in the hole ppl are starting with... (including all forms of loans/credit)...

 

[Lidopaine82]

I don't own any credit cards so that is good. but i borrowed $1700 from my brother so i could buy an electric drum set. i should have that paid off by Aug. or atleast mostly

 

[syn_apse]

I don't own any credit cards so that is good.

actually, not owning any credit cards is bad because you are not building credit. you might want to get a card through your bank that has no annual fees and just rarely use it. building credit helps you save money down the road when you apply for a loan for a house/car/dental practice...

 

[mlle]

actually, not owning a single credit card is bad because you are not building credit. you might want to get a card through your bank that has no annual fees and just rarely use it. building credit help you save money when you go to buy a house/car/practice...

true, but it's probably better than having a debt of thousands of dollars instead...

 

[syn_apse]

just pay off your balance every month (i.e., don't buy things if you don't have money to pay for them). this way you won't have any debt and you'll build a great credit score.

 

[hockeydentist]

just pay off your balance every month (i.e., don't buy things if you don't have money to pay for them). this way you won't have any debt and you'll build a great credit score.

Great advice syn_apse.....

I am curious did any of you get a credit card from college, I.e your life for a t-shirt scam. Credit card companies should be banned from colleges.

👍

 

[Lidopaine82]

actually, not owning any credit cards is bad because you are not building credit. you might want to get a card through your bank that has no annual fees and just rarely use it. building credit helps you save money down the road when you apply for a loan for a house/car/dental practice...

i bought a new car and im paying that off on time. that helps my credit... right?

 

[PickMe]

im curious, how do so many people have $0 in loans? scholarships? parents paid for all of it and you dont even have to pay back the stafford loan?

 

[Lidopaine82]

well for me the blood sucking national guard paid for it. ohio has 100% tuition paid. but what they neglect to tell you is: its only for 8 semesters. some people take slightly longer than that, like me. so my dad paid the last two sememsters

 

[tinman831]

true, but it's probably better than having a debt of thousands of dollars instead...

just don't be reckless and spend money you don't have. 🙂

 

[syn_apse]

I am curious did any of you get a credit card from college, I.e your life for a t-shirt scam. Credit card companies should be banned from colleges.

omg, i hated those people! i used to walk up to their table, grab a tshirt and just walk away. 95% of the time, they just said "hey" and then stood there.

 

[IlliniSam]

I don't own any credit cards so that is good. but i borrowed $1700 from my brother so i could buy an electric drum set. i should have that paid off by Aug. or atleast mostly

sweet, I play drums too. About 14 years now...love it. Do you play only set? or other stuff? marching percussion? DCI?

 

[Lidopaine82]

sweet, I play drums too. About 14 years now...love it. Do you play only set? or other stuff? marching percussion? DCI?

i just play the set. i have an acoustic and a Roland V-stage. i've only been playing for about 2 years tho. so im not that great.

 

[toothealer12]

im curious, how do so many people have $0 in loans? scholarships? parents paid for all of it and you dont even have to pay back the stafford loan?

i got a lot of scholarships from my school, my parents helped too. but i'm on my own in dental school...........can't wait to be 200,000 or more in debt...HAHA 👎

 

[coral2005]

im curious, how do so many people have $0 in loans? scholarships? parents paid for all of it and you dont even have to pay back the stafford loan?

I had a full tuition scholarship. My parents helped to pay for room and board...and then I moved in with my boyfriend for the last 2 years.

I won't have any help through dental school, though. 😱 I'm going to be eating day old bread and water every day for breakfast, lunch, and dinner.

 

[duh?]

no school debt but credit card debt (<$1000). I'm still trying to catch up after the application process. LOL.

 

[Drlander76]

anyone knows a good link for dental scholarships..appreciated 🙂 🙂

 

[TucsonDDS]

Lets see here, before I entered school I had 2 car payments totaling about 20K, two morgages totaling about 400K and credit cards of about 15k. For a grand total of just shy of half a million. Nothing like the american dream. Now about 3/4 through my first year I have 3 morgages totaling 475k, only one car payment for another 12k, credit cards still about 15k and student loans of 57k. So right now I am about $550,000 in debt with 3 more years to go. Sucks going back to school and losing an income.

 

[PickMe]

anyone knows a good link for dental scholarships..appreciated 🙂 🙂

http://www.dental.upenn.edu/financialaid/index.html
theres a nice list there, not just for penn students

 

[Gl4di4tor]

I'm a first gen immigrant so I was forunate enough to recieve financial aid which covers my tution and living expenses. I go to a CUNY so my tution is low anyways, I wanted to go to a private school but couldn't afford it and it didn't make sense to take loans, especially since I'm planning going to dental school.

 

[Jeppedo]

Lets see here, before I entered school I had 2 car payments totaling about 20K, two morgages totaling about 400K and credit cards of about 15k. For a grand total of just shy of half a million. Nothing like the american dream. Now about 3/4 through my first year I have 3 morgages totaling 475k, only one car payment for another 12k, credit cards still about 15k and student loans of 57k. So right now I am about $550,000 in debt with 3 more years to go. Sucks going back to school and losing an income.

I'm going to have to say that I'm with TucsonDDS on the debt issue. Mortgages really add up, as well as car loans. My wife and I are probably up to about $600,000 in debt right now until we liquidate a property or two and pay off our cars. I just can't wait to take out more loans to pay $30G plus in tuition each year 👎 .

 

[jbeaner]

To get the stafford loan, do you need good credit? How good? Can you have outstanding credit card bills? Can you use the loan to pay off high-interest credit card bills? Or does it have to go towards school and room expenses only?