Financing Dental School

[billiken10]

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I understand that I'm going to be living almost exclusively off the bank during dental school, so my question is: how are the loans handled? How much does the bank loan at a time adn how are living expenses additional to tuition calculated? Any help or explanation would be great! Thanks!

B10

 

[DcS]

I'm not sure why you would take out bank loans when you can take out federal financial aid. Basically you can get up to 8500 a year that is "subsidized", meaning interest doesn't add up on it until 6 months post gradutation. Anything extra you can get unsubsidized, meaning interest starts accumulating now. Contact your school or schools you are possibly going to...they will let yo know. At my school (UNC) I get everything I need (tuition, living expenses etc through financial aid at the school).

 

[billiken10]

Yeah that makes more sense that the schools would operate that. Okay, dumb question. Thanks, DcS.

B10

 

[ambientdmd]

If you go to a private school (non-state supported) tuition is usually double. I go to Nova, and I had to take out additional loans, because the stafford loan limit is NOT going to be enough to pay for tuition and live off of. Private Alternative DEAL loans are for Dental students and are applied for, like any other loan you would apply for. Basically they check your credit, if your credit isn't good enough, you'll need a co-signer who has good credit. With the DEAL loan I recieved, you need to have a min. credit score of 625, which isn't that bad. If you want to check your credit score, it's about 12 or 13 bucks at www.myfico.com They send the funds of the loan amount directly to the school per semester, and the school sends you the money to pay for living expenses etc... (after they've taken out their share to cover their tuition and/or other fees.