Dental school loans

Discussion in 'Financial Aid' started by sp1997, Jan 26, 2019.

  1. sp1997

    Joined:
    Jan 8, 2018
    Messages:
    28
    Likes Received:
    16
    Status:
    Pre-Dental
    I hope this is the right forum to ask this. I’m an incoming D1 student with 15k in loans from undergrad and probably will end up with 270k at the end of dental school (without interest). I’ve been stressing about the amount for some time now. I don’t think I’ll have the time or energy to work especially my first two years in dental school so I can’t make any interest or principal payments. I know I’ll have to pay interest on interest so I don’t know how much that’s going to accumulate to. But I just want some assurance from current healthcare student or professionals that it’s ok to not make payments and still be able to pay it off once I graduate. Also, is it better to pay off debt ASAP or to stretch it over 10-20years since not all debt is bad and I can investment whatever I save after small loan repayments
     
  2. TMP-SMX

    TMP-SMX Senior Member
    Moderator Emeritus Gold Donor Verified Expert Verified Account 10+ Year Member

    Joined:
    Jun 12, 2006
    Messages:
    3,676
    Likes Received:
    93
    Status:
    Attending Physician
    First of all congrats on getting into dental school. I'm not a dentist but most professional students don't work during their preclinical years. You should focus on your studies. The very little you could be making might be better used towards studying. The best thing you can do financially is live cheaply and take as little loans as possible. Most people make no payments during school. The key is to live cheaply after you graduate and focus on paying off debt. Federal student loans have terrible interest rates don't count on beating the market with returns. Pay your loans ASAP.
     
    sp1997 likes this.

Share This Page