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Deposits and Financial Aid

caligrl59

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Feb 25, 2016
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  1. Dental Student
    I was wondering how the timeline works exactly for deposits? It says if you are accepted around December 1, you have 30 days to make your deposit (usually non-refundable) to the school? But I also noticed that you will not receive your financial aid package until the Spring. Are we expected to select which schools we are attending before we know anything about price? I was hoping I would be able to see where I get in and based my decision on cost thereafter. Please let me know how this works! Thanks
     

    frozenicecreamDMD

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    Mar 23, 2016
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    1. Dentist
      I was wondering how the timeline works exactly for deposits? It says if you are accepted around December 1, you have 30 days to make your deposit (usually non-refundable) to the school? But I also noticed that you will not receive your financial aid package until the Spring. Are we expected to select which schools we are attending before we know anything about price? I was hoping I would be able to see where I get in and based my decision on cost thereafter. Please let me know how this works! Thanks

      yes, On dec 1st you have 30 day to mail in the deposit, on Jan 1st to Feb, you have 15 days, then 7 days I guess.
      You can know the price of any school by simple Google Search "total cost of attendance for XYZ dental school" or "tuition and fee at XYZ dental school"

      normally, people apply based on cost of the school and then pick the cheapest one.
       

      caligrl59

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      1. Dental Student
        yes, On dec 1st you have 30 day to mail in the deposit, on Jan 1st to Feb, you have 15 days, then 7 days I guess.
        You can know the price of any school by simple Google Search "total cost of attendance for XYZ dental school" or "tuition and fee at XYZ dental school"

        normally, people apply based on cost of the school and then pick the cheapest one.


        Yes, I understand that, but I'm assuming financial aid and scholarships will vary from school to school. I guess I will have to pick a school without knowing?
         
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        frozenicecreamDMD

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          Yes, I understand that, but I'm assuming financial aid and scholarships will vary from school to school. I guess I will have to pick a school without knowing?

          dental schools rarely offers scholarship, if they do offers, the amount range from 10k to below or max i heard is 15k, and these are very rare. most of them are just for 1 year or 2 year (so total amount will be 20k-30k not annually for 4 years). other than that, you have to take out full loans to pay for your dental education. there is no definition of grant money (federal grant or state grant) for dental school. Financial aid only comes in the amount of loans and you can take out as much as the cost of attendance estimated by the school.

          ex: school A costs tuition and fee for 90k and living cost for 25k, you will be offered to take out loans up to 115k$
           

          caligrl59

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          Feb 25, 2016
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          1. Dental Student
            In addition, what if I am still in the interviewing process (accepted December 1 but still waiting on interviews that will potentially happen in January, February, etc)--I will just have to put down a deposit regard
            dental schools rarely offers scholarship, if they do offers, the amount range from 10k to below or max i heard is 15k, and these are very rare. most of them are just for 1 year or 2 year (so total amount will be 20k-30k not annually for 4 years). other than that, you have to take out full loans to pay for your dental education. there is no definition of grant money (federal grant or state grant) for dental school. Financial aid only comes in the amount of loans and you can take out as much as the cost of attendance estimated by the school.

            ex: school A costs tuition and fee for 90k and living cost for 25k, you will be offered to take out loans up to 115k$

            I am hoping I am a competitive applicant for scholarships. I'm coming from a Top 10 school with a 3.72 GPA and 25 AA. I've known lots of students from my school who have received the UPenn scholarship with worse stats.
            I come from a very pre-med oriented school, so everything I know is from medical schools (only about 3-4 kids apply to dental school a year whereas there are ~400+ students who apply to medical school). I understand that medical schools do give out grants based on family income/needs? Do dental schools not have the same?
             

            frozenicecreamDMD

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              In addition, what if I am still in the interviewing process (accepted December 1 but still waiting on interviews that will potentially happen in January, February, etc)--I will just have to put down a deposit regard


              I am hoping I am a competitive applicant for scholarships. I'm coming from a Top 10 school with a 3.72 GPA and 25 AA. I've known lots of students from my school who have received the UPenn scholarship with worse stats.
              I come from a very pre-med oriented school, so everything I know is from medical schools (only about 3-4 kids apply to dental school a year whereas there are ~400+ students who apply to medical school). I understand that medical schools do give out grants based on family income/needs? Do dental schools not have the same?

              1. Yes, you have to put down a deposit and then put down extra deposits at schools you like. Thus, a lot of people lose at least 1 deposit (amount 1000$) because they just have 1 school acceptance dec 1st and more schools acceptance after. Hence, you should apply ASAP, interview ASAP, and even if you are on waitlist, you can get in soon after Dec 1st and limit the chance of blowing money on deposits.

              2. UPENN is a very very expensive school and only very few of their students get the scholarship you talk about. The purpose is to attract students to attend Upenn over the in-state program these students get into. however, the price at UPENN after scholarship is accounted for is still sometimes 50-60k more than the in-state dental programs these students get into.

              3. I think not all 400+ students from your pre med college get into medical school.

              4. Dental schools scholarships are largely based on merit and not based on family income/needs. I can see if you come from financial hardship background, you can offered 10-20k per year of loan at low interest rate with no accruing interest until you graduate. However, this is very subjective based on each school. It is not a grant type of free money FAFSA gives to you like undergrad.

              5. you should understand that medical schools are very VERY heavily subsidized by the state (even private medical schools are subsidized). and thus the cost is lower for the students because the third party foots the bill.

              6. While most private dental school will run you up to 440k$ for total cost of attendance (not including your undergraduate debt if you have one), some public school out of state that offer in state after one year will run you up to 300k$, or your in state dental school will probably run you up to 250k$ if you are lucky to live in a state with this in state dental school.

              your stats is VERY competitive, blow massive time to write polished personal statement, make sure your LORs are glowing, and practice tremendously for interviews, you will be a good shot at your public instate school or public school out of state that offer in state after one year (ex: Uconn, UNLV, University of buffalo, Stony brook) or less expensive private school (creighton, University of detroit, mercy , case western reserve university)
               
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              fogorvostan

                In addition, what if I am still in the interviewing process (accepted December 1 but still waiting on interviews that will potentially happen in January, February, etc)--I will just have to put down a deposit regard


                I am hoping I am a competitive applicant for scholarships. I'm coming from a Top 10 school with a 3.72 GPA and 25 AA. I've known lots of students from my school who have received the UPenn scholarship with worse stats.
                I come from a very pre-med oriented school, so everything I know is from medical schools (only about 3-4 kids apply to dental school a year whereas there are ~400+ students who apply to medical school). I understand that medical schools do give out grants based on family income/needs? Do dental schools not have the same?
                Yes, you will have to put down a deposit regardless if you want to hold your spot. It's kind of frustrating with a Dec 1 acceptance if you are still waiting because schools will go on break in December and you most likely won't hear anything until January starts back up again... and then deposits are generally due at that time. I almost lost a couple grand on a deposit but was able to cancel my check (whoopsie).

                As for the cost of the schools, there are very few scholarships out there like others said. Just assume the cost of the school is going to be the COA that each one gives you on their website and your financial aid will be loans.
                 

                JLT223

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                Jun 3, 2015
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                1. Dentist
                  In addition, what if I am still in the interviewing process (accepted December 1 but still waiting on interviews that will potentially happen in January, February, etc)--I will just have to put down a deposit regard


                  I am hoping I am a competitive applicant for scholarships. I'm coming from a Top 10 school with a 3.72 GPA and 25 AA. I've known lots of students from my school who have received the UPenn scholarship with worse stats.
                  I come from a very pre-med oriented school, so everything I know is from medical schools (only about 3-4 kids apply to dental school a year whereas there are ~400+ students who apply to medical school). I understand that medical schools do give out grants based on family income/needs? Do dental schools not have the same?
                  The Dean's Scholarships aren't really given out based on grades alone. Some of the things my future classmates have done are really mind blowing.
                   
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                  MRZ8

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                    The Dean's Scholarships aren't really given out based on grades alone. Some of the things my future classmates have done are really mind blowing.
                    Corky seeks the "best overall students" for the Dean's Scholarships, so the handouts are pretty subjective imo. What did you hear about future classmates? lol
                     
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