for all the poor peeps out there...

[polarmolar]

Hey everyone

I was looking at Uof the Pacific tuition and estimated costs over the 3 years and it has kind of discouraged me from even applying because I don't think theres anyway I an afford that...

I know there are loans, so lets say that takes care of tuition. The additional costs are still insane!

thoughts?

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[BioMaxDDS]

Hey everyone

I was looking at Uof the Pacific tuition and estimated costs over the 3 years and it has kind of discouraged me from even applying because I don't think theres anyway I an afford that...

I know there are loans, so lets say that takes care of tuition. The additional costs are still insane!

thoughts?

Stafford + Grad plus loans should be able to cover the cost of attendance, which includes tuition, fees, room and board.

 

[DCRedskinsRule]

Not only tuition and fees and stuff, but federally you're entitled to loans to cover living expenses based on your EFC. If you're poor (like me ) then you should have no problem getting loans to cover full cost of attendance ... both school stuff and living expenses. It's just up to you what you want to accept or decline based on how you plan to pay for things and how much debt you want to end up with.

 

[Hysteria24]

Stafford + Grad plus loans should be able to cover the cost of attendance, which includes tuition, fees, room and board.

Yeah, as Trojans we should know all about maxing out loans.

 

[polarmolar]

really? living expenses also?

what would that figure come out to after 3/4 years though? yikes!

 

[lphiewok]

you can also join military with your acceptance letter, and they will pay for your tuition - but you have to work at least the amount of years they paid for your tuition (getting paid tho)

 

[BioMaxDDS]

Yeah, as Trojans we should know all about maxing out loans.

After maxing out the loans, we will still be living like "poor" students for 4 years

 

[polarmolar]

Is a dentist able to pay back ~300g's and still live?!

 

[stdmufin27]

I still think about that question every couple of hours. I mean 300-400k isn't nothing to be flippant about. However, if you extend your repayment plan to 20-25 years it isn't that hard to live well and pay back your loans. I'm actually thinking about living like a bum for 4-5 years and pay back a huge chunk of my loans in big monthly payments. I figure it's the equivalent of giving myself to the military or any other "scholarship" like that.

 

[Simiam]

Why bother repaying quickly. Lock into the really low interest rates and pay it out over the lifetime of the loan. Then take the chunk of money you would have used to pay it off and put it into an investment account.

 

[polarmolar]

I don't understand how people mention a third of a million dollars as if its pocket change....it scares me!!

UofP issss only 3 years so it might be worth it huh?

 

[BioMaxDDS]

I don't understand how people mention a third of a million dollars as if its pocket change....it scares me!!

UofP issss only 3 years so it might be worth it huh?

Unless you get into state schools, you really don't have any choices. Besides, this is an investment that will be worth it in the future.

 

[Stoked]

After maxing out the loans, we will still be living like "poor" students for 4 years

Poor as poor can be even fi you are married you have to find a room mate

 

[usernametaken]

I don't understand how people mention a third of a million dollars as if its pocket change....it scares me!!

UofP issss only 3 years so it might be worth it huh?

The cost of attendance deterred me at first as well.

Like people have said, you can do the military route, and they'll pay for all of your school expenses and give you a living stipend. You only owe four years, and it's pretty much a hell of a financial deal.

Otherwise, you can expect to take out a couple hundred thousand in loans, but you'll have a good income and more freedom in terms of your employment situation.

It's up to you.

 

[polarmolar]

anyone take the military route and wish to comment on it?

is there a way you can work for the gov't or something after you graduate and they will take care of your loans?

or perhaps flee the country?

 

[stdmufin27]

Why bother repaying quickly. Lock into the really low interest rates and pay it out over the lifetime of the loan. Then take the chunk of money you would have used to pay it off and put it into an investment account.

To each his own. We aren't that close to being in the payback position to really talk about it. But, I don't feel comfortable with the idea of $3500/mnth student loans, about $4000/mnth house payments, a couple grand in retirement and then living expenses for about 20-25 years of student loan repayment. I understand money can be made w/ investments. But paying off the student (and possibly mortgage) loans quicker is an investment financially and stress-wise. I dream of the day when the large chunk of my paycheck is retirement and living expenses = LOW STRESS LEVEL BABY!

 

[polarmolar]

I hear you bro...

I wouldn't even think about the military...except...maybe for Uofthe Pacific...

 

[lemoncurry]

UoP is no more expensive than your average 4-year private school. You pay roughly the same amount for 3 years as you would for 4 years at another school. Think of it as a year head start on your career and an additional years' worth of salary (and not entry level salary) over your entire career. With federal and gradPLUS loans, you should easily be able to cover tuition and reasonable living expenses.

 

[polarmolar]

the reason I said that I would consider military with UofthePacific is because its only 3 years (and thus 3 years military service in return), not the tuition.

 

[btizzels]

the reason I said that I would consider military with UofthePacific is because its only 3 years (and thus 3 years military service in return), not the tuition.

I am pretty sure that it is still a 4 year commitment if you go to UOP and use the HPSP. But talk to a recruiter to confirm this

 

[loved]

I am pretty sure that it is still a 4 year commitment if you go to UOP and use the HPSP. But talk to a recruiter to confirm this

I heard this from a recruiter as well.

 

[btizzels]

anyone take the military route and wish to comment on it?

is there a way you can work for the gov't or something after you graduate and they will take care of your loans?

or perhaps flee the country?

I am going to be doing the military route, they pay for pretty much everything, and what isn't covered you should be able to afford with the monthly stipend they give you. Navy and Army also currently have 20K bonus for signing up (if you take the bonus you are committed to 4 years of service, but if you were doing a 4 year HPSP it doesn't add any time and it is like free money) So when you get out of school you have minimal debt (probably some undergrad and depending on lifestyle some from D school) When you get out you are and O3 officer and with bonuses make about 70-80K a year, which doesn't seem like alot, but when you factor in loans, overhead costs (insurance, supplies, etc) military dentists might actually have more disposable income then many of their civilian counterparts.

But with that being said, if you have no desire to "serve" then DON'T do it for the money. I can guarantee that you will be miserable. There is a whole forum dedicated to military dentists check it out if you are interested in people's opinions

 

[usernametaken]

There's a good post or two in the military dentistry forum that break down the financial advantage of going the military route. Almost anyway you slice it, you will come out ahead if you do the HSPS.

If I was starting dental school at 22 years old, I'd go the military route in a heartbeat, especially if I was going to one of the more expensive schools like NYU, or BU. I am a little older, so I am a bit more interested in settling down, but I still am fairly open to doing the HSPS.

 

[polarmolar]

where exactly is this military forum?

I think my parents would kill me if I joined! lol

 

[BioMaxDDS]

where exactly is this military forum?

I think my parents would kill me if I joined! lol

http://forums.studentdoctor.net/forumdisplay.php?f=178

 

[Epictetus21]

There's a good post or two in the military dentistry forum that break down the financial advantage of going the military route. Almost anyway you slice it, you will come out ahead if you do the HSPS.

If I was starting dental school at 22 years old, I'd go the military route in a heartbeat, especially if I was going to one of the more expensive schools like NYU, or BU. I am a little older, so I am a bit more interested in settling down, but I still am fairly open to doing the HSPS.

I was set to do the military route about a year ago, but one of my good friends from back home just got rocked by the program. His situation convinced me to forget about the military scholarship and just do loans. He completed his commitment to the Army and thought that he was home free. However, two years after he set up his private practice and started making some decent money, he got a call from the Army saying they had a shortage of dentists and he would have to come back for a 12 month term at a base in Virginia. If the military is ever facing a shortage of healthcare professionals, they will call back people who have served on active duty in the past before they institute a draft. It's very similar to the "Stop Loss" program that is keeping veterans close to retirement in the military. He had to shut down his practice and lost all of his patient base. He's back now, but he has to start over from scratch. It's not a horrible situation, I mean, he wasn't sent to Iraq or killed or anything, but it was still a major bump in the road for him financially and professionally. I would be very cautious and make sure that you are really committed before you sign up. Be sure to get clear answers from recruiters about what it means to be "active duty for four years, and then inactive ready reserve" after that. Once you sign the dotted line for the military, they own you for the rest of your life.

 

[btizzels]

where exactly is this military forum?

I think my parents would kill me if I joined! lol

My parents were the same way, but once i explained it to them, and showed them the cost of school they came around quickly

 

[bass for less]

There are unique pros and cons about doing the HPSP. Be sure to check out some threads in the military forum. Some people did extensive research in that forum and you can benefit from it.

 

[stdmufin27]

I was set to do the military route about a year ago, but one of my good friends from back home just got rocked by the program. His situation convinced me to forget about the military scholarship and just do loans. He completed his commitment to the Army and thought that he was home free. However, two years after he set up his private practice and started making some decent money, he got a call from the Army saying they had a shortage of dentists and he would have to come back for a 12 month term at a base in Virginia. If the military is ever facing a shortage of healthcare professionals, they will call back people who have served on active duty in the past before they institute a draft. It's very similar to the "Stop Loss" program that is keeping veterans close to retirement in the military. He had to shut down his practice and lost all of his patient base. He's back now, but he has to start over from scratch. It's not a horrible situation, I mean, he wasn't sent to Iraq or killed or anything, but it was still a major bump in the road for him financially and professionally. I would be very cautious and make sure that you are really committed before you sign up. Be sure to get clear answers from recruiters about what it means to be "active duty for four years, and then inactive ready reserve" after that. Once you sign the dotted line for the military, they own you for the rest of your life.

My thoughts on this (for the OP's benefit of course) are WOW...that sucks for your friend. I personally thought about going the military (Navy HPSP) route and did start my application out and everything. After lots of questions in the military forum and talks w/ my wife we decided not to. But, it's a great deal for the younger folk (I'm 28 and barely bout' to start school obviously).

About the IRR, that's the 1st story I've ever heard of someone getting called in.

 

[btizzels]

My thoughts on this (for the OP's benefit of course) are WOW...that sucks for your friend. I personally thought about going the military (Navy HPSP) route and did start my application out and everything. After lots of questions in the military forum and talks w/ my wife we decided not to. But, it's a great deal for the younger folk (I'm 28 and barely bout' to start school obviously).

About the IRR, that's the 1st story I've ever heard of someone getting called in.

You are definitely right. I think it is a really good deal for someone who is young and single. I am 24 and single so it was a good fit for me.

 

[blankguy]

That's what I've been told too. It's great for young people who are single. It's a great ride with tremendous experience plus if specialization doesn't work out in the military they have the time to wait it out and specialize after finishing their service and still be younger than 35.