For those of you who think high tuition doesn't matter...

[LestatZinnie]

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this is a great thread from dentaltown, where REAL PRACTICING dentists share their genuine opinions. It struck me that a few of the dentists who expressed great dissatisfaction with their job is due to debt from school. Thus i think that the people with the mentality that "i'll pay whatever it takes to go to a school that makes me happy despite the fact that it's gonna cost me an arm and a leg- cuz i'm gonna pay it all back in 5 years anyway!!" should think again.

each to his own.

http://www.dentaltown.com/idealbb/view.asp?topicID=26583&sessionID={5F060454-8B59-44F7-8A17-7BFA9AC87682}

 

[speter33]

That's a great thread, thanx for posting it. I should really be visitng dentaltown.com more often.

 

[lifeisshort]

I'm trying to register for the dentaltown but I don't know
this question;
what does O stands for in MOD?
😕 😕

 

[MarkFitzsimmons]

occlusal

 

[ItsGavinC]

Originally posted by LestatZinnie
It struck me that a few of the dentists who expressed great dissatisfaction with their job is due to debt from school. Thus i think that the people with the mentality that "i'll pay whatever it takes to go to a school that makes me happy despite the fact that it's gonna cost me an arm and a leg- cuz i'm gonna pay it all back in 5 years anyway!!" should think again.

So, you're saying the opinions of users on one internet forum are wrong because the opinion of users on another internet forum lean the other way?

Nice job, you're hired for the position of supersleuth.

PS, Tuition doesn't make much of a difference. People who whine about one thing are the same people who will whine about anything.

Conversely, check out those DentalTown threads about people who HATED and DO HATE dental school because they chose the cheaper school. There's certainly plenty of those over there.

 

[DcS]

Originally posted by ItsGavinC
So, you're saying the opinions of users on one internet forum are wrong because the opinion of users on another internet forum lean the other way?

Nice job, you're hired for the position of supersleuth.

Are you kidding me??? No, he's saying that one forum is much more VALID because they are already practicing dentists and are dealing with debt at that level, and not pre-dents or dents merely speculating on how easy it will be to repay debts.

If you seriously think this site has the validity when talking about topics of practicing dentistry as dental town, you seriously need to get a clue🙄

In fact, at SDN these are merely "opinions" regarding how debt repayment will be. On dental town, they are relaying fact, because they are practicing and repaying debts. I think you forget sometimes that you are only a DDS1, and not a practicing dentist.

 

[LestatZinnie]

Originally posted by ItsGavinC
So, you're saying the opinions of users on one internet forum are wrong because the opinion of users on another internet forum lean the other way?

Nice job, you're hired for the position of supersleuth.

PS, Tuition doesn't make much of a difference. People who whine about one thing are the same people who will whine about anything.

Conversely, check out those DentalTown threads about people who HATED and DO HATE dental school because they chose the cheaper school. There's certainly plenty of those over there.

Sorry but I do weigh the opinions of the dentists who post on dentaltown more than the predents and dental students who have no first hand exposure other than 'shadowing' or 'observing' in dental clinics. The difference between here and there is that here, you have all those people with ideas of debt and salary who can only back up their info by saying "i know my neighbor's sister's cousin who has done this or this or that".

 

[LestatZinnie]

that being said it doesn't mean SDN is unhelpful. I just go to different forums for different info. For school related stuff I certain trust posters here more than those of dentists who went to school decades ago. However, for actual salary/debt/running practice info, I find many of the things posted here to be a lot of smoke and not much substance.

 

[ItsGavinC]

Yes, but like I said, there are PLENTY of threads on DentalTown that are oriented around dentists wishing they had attend a different school. Instead, they followed the money and went to the cheaper school.

I've seen many of those threads come and go.

In fact, Howard Farran, the creator of Dental Town talked with me last week, and mentioned that he advises students to go where they are the happiest (regardless of tuition matters).

 

[ItsGavinC]

Originally posted by DcS

If you seriously think this site has the validity when talking about topics of practicing dentistry as dental town, you seriously need to get a clue🙄

Wow, you're way off base. You're saying that all those dentists in the dental forum have no validity? I'm sure they'd love to hear that. Perhaps you meant to say that SDN has a lesser number of praticing dentists on it than DentalTown. This is obviously true, but it is NOT what you wrote. There is PLENTY of validity on SDN.

Further, and above all, SDN AND DentalTown are internet forums. They HARDLY comprise the majority of anything. Therefore, simply because a majority at either site expresses a certain opinion, doesn't mean it equates to the majority of actual professionals.

Lestat had good reasons for posting, but for him to say that peeps with a certain mentality should rethink their position is ridiculous. Plenty of dentists pay off their financial burdens in 5-10 years, and plenty of those STILL whine about their past burdens.

 

[DcS]

Gavin,

I know it's hard, but take a few seconds to reread this sentence. It makes perfectly good sense:


"If you seriously think this site has the validity when talking about topics of practicing dentistry as dental town, you seriously need to get a clue"


"This site" refereneces SDN. In your post, you asked why we should believe Dental town over SDN. I said because they are practicing dentists, and most here are not. My quote has the exact opposite meaning than you understood.

I hope you did better on your reading comp on the DAT🙄

 

[bcDDS]

To be honest, there is A LOT of speculation on SDN. This forum is mostly dents and predents supporting each other and that's great, but there are very few dentists that post here. As for the ones that do, some (won't mention any names) give what I feel is very misleading info and don't represent the greater majority of what most dentists out there really think. DentalTown is mostly practicing dentists and the nature of the posts tend to be more collaborative and educational. They've also 'been there, done that', so collectively, they have way more credibility as a group. Point is this.....
TUITION DOES MAKE A DIFFERENCE....It's all about compound interest. The rates are at a ridiculous low right now (2.8%) and that makes a lot of debt levels managable. But there isn't a snowball's chance in hell that it will stay at that level by the time a lot of SDNers finish dental school. The recent economy has driven it down to ALL TIME lows, but sooner or later, it will get back up to 7-8%. Try compounding that over 10 or 30 years, and you will realize that you could feasibly drown or be treading water for a very very long time. Take a $350,000 debt, and compound it at 8% over 10 or 30 years and break it down per month. Remember that this is after tax income that has to applied to loan repayments. When you come up with the figure, tell me it doesn't hurt....
So I am going to go out on a whim and say that TUITION MATTERS. It's not EVERYTHING, but don't think for one second that it's irrevlevent, because believe me, it is something to consider.....

 

[thisisit]

Originally posted by bcDDS
T....., but there are very few dentists that post here. As for the ones that do, some (won't mention any names) give what I feel is very misleading info and don't represent the greater majority of what most dentists out there really think. ...

I would love to hear which dentist here has given you misleading information. I would challenge you to bring the misleading posts to my attention and I will dissect it for you. Post it here for everyone to see please. If it's one of my posts, I would defend it. But to hit and run like a coward and call anyone's information misleading is not appropriate. Name names and let them defend it.

Remember something though: Everyone is entitled to an opinion. We all see this profession differently. Just because you don't agree with someone else's opinion, it doesn't mean that is misleading information. The right phrase you were looking for is "different point of views" not "misleading".

One encouragement for you guys is that if you have read that thread, you'd realize that there are a lot more dentists giving the profession 7 or above than ones hating it. What else did you expect? Did you expect 100% of all dentists to be happy with their jobs. The best proof for you is all the good things everyone said in that thread. Concentrate on the positives, and choose a cheaper school. 😀

 

[D.M.D dude]

In fact, Howard Farran, the creator of Dental Town talked with me last week, and mentioned that he advises students to go where they are the happiest (regardless of tuition matters).

Folks, dental school is just four years. No matter where you go, your nose is going to be in the books all the time anyways, so location shouldn't really play a role in your decision UNLESS you plan on practicing in one of those states that administers difficult state board exams (i.e. FL, CA, NV). Cheaper = better.

 

[PashaJ]

Originally posted by LestatZinnie
Sorry but I do weigh the opinions of the dentists who post on dentaltown more than the predents and dental students who have no first hand exposure other than 'shadowing' or 'observing' in dental clinics. The difference between here and there is that here, you have all those people with ideas of debt and salary who can only back up their info by saying "i know my neighbor's sister's cousin who has done this or this or that".

Anyone can post on DentalTown, all you have to do is answer what a MOD is then pass yourself off as someone who is a real dentist when in fact you're a disgruntled dental school student paying 70K a year. I'm personally happy at my 70K a year school and I know I'll be able to pay it off eventually while still leaving a comfortable life in NYC. If you're rejecting a school purely because of the tuition while being blind to other possible advantages then you might be money hungry.

BTW, a neighbors sisters cousin is also the neighbors cousin.

 

[DcS]

Originally posted by PashaJ
Anyone can post on DentalTown, all you have to do is answer what a MOD is then pass yourself off as someone who is a real dentist when in fact you're a disgruntled dental school student paying 70K a year.

Why in the world would someone waste their time and do that?


If you read the actual dental town post, then you would understand that they are all practicing dentists. The discussion about tuition is not a personal attack on people who are paying higher amounts, so calm down and relax.

If you're rejecting a school purely because of the tuition while being blind to other possible advantages then you might be money hungry.

Choosing schools based on tuition makes someone "money hungry"?? LMFAO!!! You've got to be kidding me. THat's a huge factor for some people, how does that make them money hungry. It makes them smart and sensible.

 

[drPheta]

With all due respect, I read that thread and what I got from it was that tuition and loan payback was not really the issue that made a lot of the disgruntled practicing dentists unhappy.

I got the impression that it was professional/personal/emotional dissatisfaction they got from their particular practice, practice location, select patients, and procedures or lack thereof.

Yes, many of them mentioned the negatives to high tuition and debt, but many of them also mentioned how tuition wasn't an issue.

Maybe I read the post wrong. I already understand that I'm not going to be rich. I'm in the higher end of the debt spectrum, and I'm totally aware of the interest rates during my repayment (5%-10%).

My goal in life isn't really financial satisfaction. It's personal satisfaction with the career I choose and the life I live, though financial stress will definitely play a role in that.

Whether DentalTown is more credible or not, it doesn't matter. It's all opinions, we all value different things, and you have to look at the reasons why people have certain opinions before you can apply them to yourself.

 

[aphistis]

Originally posted by drPheta
With all due respect, I read that thread and what I got from it was that tuition and loan payback was not really the issue that made a lot of the disgruntled practicing dentists unhappy.

I got the impression that it was professional/personal/emotional dissatisfaction they got from their particular practice, practice location, select patients, and procedures or lack thereof.

I think you nailed it right there, Pheta.

 

[h213]

So if i am looking at 140,000 dollars for total of 4 years, how much interest would I have to pay in the future? My cousin has to pay about 500 dollars monthly over 20 years. I am so certain about this fact. And she went to an IVY league private school for 4 years. bit scary.. 🙁 Anyone with this type of personal experience ?

 

[StarGirl]

Originally posted by h213
So if i am looking at 140,000 dollars for total of 4 years, how much interest would I have to pay in the future? My cousin has to pay about 500 dollars monthly over 20 years. I am so certain about this fact. And she went to an IVY league private school for 4 years. bit scary.. 🙁 Anyone with this type of personal experience ?

20 years? isn't it a 10 year loan repayment plan?....

 

[mmapcpro]

I"m glad you caught that too, Pheta...I was about to go back and brush up on my reading comprehension.

The only issues any of those posters had about tuition was due to the fact that they were not getting the kind of patients they desired, not doing the kind of procedures they desired, and not getting paid what they wanted to get paid.

What I found ironic was that the one dentist made the above complaints, but when it was suggested that he move his practice to a better location, he stated that it was more important to please his wife, who wanted to stay close to her parents.

That is his choice, I think.

 

[ItsGavinC]

Originally posted by DcS
Gavin,

I know it's hard, but take a few seconds to reread this sentence. It makes perfectly good sense:


"If you seriously think this site has the validity when talking about topics of practicing dentistry as dental town, you seriously need to get a clue"


I hope you did better on your reading comp on the DAT🙄

Yeah, actually, I only missed one or two on the reading comp (I'm an English major, remember).

I'm probably confused because your sentence is hardly grammatically correct. Once again, the way you have it written, you are stating that there is NO validity here on SDN. That's wrong. You're using "the validity" as a proper noun. In this case, SDN certainly has "the validity" (or all the dentist's posts here are fictious). I believe you mean to say the following:

"If you seriously think that this site, when talking about topics of practicing dentistry, has the same validity to its posts as does DentalTown, then you need to get a clue."

That's true when written that way, and I agree with it 100%.

Once again, the degree of validity when comparing the two sites would be in DentalTown's favor due to a larger number of practicing dentists--but that isn't to say that SDN has no validity.

 

[ItsGavinC]

Originally posted by aphistis
I think you nailed it right there, Pheta.

I agree, and that's what I stated in my original posts.

The people who whine about loan repayment are the same people who whine about nearly everything in life.

If it wasn't their loan payments they were whining about, then it would be their overhead. If it isn't the overhead, then it's office location. If it isn't office location, then it's their office manager. If not the office manager, then the fee schedule.

They simply won't be happy until...well, never.

Tuition matters, but it isn't the end-all, be-all. There's nothing foolish in thinking that loans can be payed off in 5 or 10 years. Is it hard? Damn straight. The average dentist won't be living high on the hog while doing it. Is it impossible? Not at all. Many have done it before us, and many will do it after us.

 

[ItsGavinC]

Originally posted by D.M.D dude
Folks, dental school is just four years. No matter where you go, your nose is going to be in the books all the time anyways, so location shouldn't really play a role in your decision UNLESS you plan on practicing in one of those states that administers difficult state board exams (i.e. FL, CA, NV). Cheaper = better.

This is just blatantly ridiculous, IMNSHO.

Location shouldn't play ANY role?

 

[D.M.D dude]

This is just blatantly ridiculous, IMNSHO. Location shouldn't play ANY role?

It should only play a minor role, hence why I used the key word "unless." You can always move to where you want to set up shop after you finish school. In the meantime, you can save yourself thousands of dollars by attending your in-state school as opposed to paying out-of-state tuition somewhere else.

 

[bcDDS]

Originally posted by thisisit
I would love to hear which dentist here has given you misleading information. I would challenge you to bring the misleading posts to my attention and I will dissect it for you. Post it here for everyone to see please. If it's one of my posts, I would defend it. But to hit and run like a coward and call anyone's information misleading is not appropriate. Name names and let them defend it.

Remember something though: Everyone is entitled to an opinion. We all see this profession differently. Just because you don't agree with someone else's opinion, it doesn't mean that is misleading information. The right phrase you were looking for is "different point of views" not "misleading".

One encouragement for you guys is that if you have read that thread, you'd realize that there are a lot more dentists giving the profession 7 or above than ones hating it. What else did you expect? Did you expect 100% of all dentists to be happy with their jobs. The best proof for you is all the good things everyone said in that thread. Concentrate on the positives, and choose a cheaper school. 😀

Sorry Dr. Evil, but I'm a practicing dentist also, and I don't need you to dissect anything for me. I can think for myself, thank you very much. Why you take such a random post so personally makes me wonder. Is it you that I disagree with? Who knows (except me), and who else really cares? I have better things to do than to take every single comment that I disagree with and point it out to each and every individual. It lacks class and is outright lame. Putting people on the defensive never helps anyone. So I'm a coward for not wanting to implicate anybody or start any discussions that will lead to hard feelings? Whatever....So I'm also being inappropriate by not naming names and not accusing anyone directly? Whatever you say.........

 

[ItsGavinC]

Originally posted by D.M.D dude
It should only play a minor role, hence why I used the key word "unless." You can always move to where you want to set up shop after you finish school. In the meantime, you can save yourself thousands of dollars by attending your in-state school as opposed to paying out-of-state tuition somewhere else.

Good call, I think I misread your first post. Well put.

 

[thisisit]

Originally posted by bcDDS
Sorry Dr. Evil, but I'm a practicing dentist also, and I don't need you to dissect anything for me. I can think for myself, thank you very much. Why you take such a random post so personally makes me wonder. Is it you that I disagree with? Who knows (except me), and who else really cares? I have better things to do than to take every single comment that I disagree with and point it out to each and every individual. It lacks class and is outright lame. Putting people on the defensive never helps anyone. So I'm a coward for not wanting to implicate anybody or start any discussions that will lead to hard feelings? Whatever....So I'm also being inappropriate by not naming names and not accusing anyone directly? Whatever you say.........

Sorry if my post came a bit on the offensive side. But I would like to know which dentist is spreading misleading information to unsuspecting students. That was my point, not to pick a fight.

You disagreeing with me or anyone else is not the issue. You being a practicing dentist makes no difference either.
I have no problems with anyone disagreeing with anyone. God knows I have a lot of different views on how to do things that many people including my own wife disagrees with. You put it differently. You said "misleading information" instead of difference of opinion. Since there are only a few dentists on this site, it's natural for someone as sensitive as me to take it personally. If you are telling people that they have been mislead, I sure hope you will point it out so it can be undone. Cheers.

 

[no2thdk999]

Originally posted by StarGirl
20 years? isn't it a 10 year loan repayment plan?....

Federal loans (such as Stafford) come with a 10 year repayment schedule. You can consolidate all of your separate loans (or just one if that's all you have) into one loan and extend your payments for up to 30 years.

If there are any 4th year students getting ready to graduate I would highly recommend consolidating your loans before your 6 month grace period is over. The reason being is that the rate for the upcoming year is calculated each July. Right now it's around 3.75% which is the lowest it has been in a long time. If you wait until November to begin repayment the rate will likely be higher. In the long run it will be worth it to begin payments 6 months earlier to get the lower rate. The paper work can take a long time (especially if you have multiple lenders) so I'd even start the process now. You might even be able to consolidate and then apply for a deferment while your in school or unemployed.

To those that think tuition cost isn't a big deal, I went to probably one of the least expensive schools. I graduated with $85K (which was average for my class) in loans, consolidated them over 10 years and my payment is around $1k/mo. If I borrowed $350k it would be closer to $4k/mo, YIKES!. That's $36k/year of after tax money which means the 2nd person will have to earn around $50k/year more than me for the next 10 years just to break even.

Another way to look at it would be the $350K student and I borrowed the same amount except my education came with a free dental practice (or house or Ferrari and Porsche or...).

Dental school is not one of those times where you get what you pay for (monetarily anyway).

JMHO
Rob

 

[Bickle]

Just out of curiosity, which school really costs 350k?

 

[mmapcpro]

I think NYU is close to $60k...add in about $15k for transportation, food, rent, utilities, etc...and you're up to $75k...

$300k is still a ton of cash

 

[blankguy]

Also do people on average pay the ENTIRE bill from loans?

 

[mmapcpro]

Maybe not on average, but i'm sure there are plenty of people that don't have much choice.

For instance, suppose someone is married with 2 children. The wife is relatively unskilled, and can most likely only earn between $7-10/hour.

The family had been living pretty much paycheck to paycheck. What minor savings got accumulated would usually end up going out to pay for home repairs like the waterheater or air conditioner breaking, medical bills for emergencies, car failures, etc.

The husband decides to go back to school to better himself. He chooses a career in dentistry. He reduces his workload slightly to finish his undergraduate or post-bacc prerequisites for dental school, so his paycheck-to-paycheck lifestyle has now become even tighter. The entire family prays for nothing to break while he finishes the prereqs.

Through aptitude, intelligence, maturity, dedication, and perhaps some luck and heavenly grace, the husband gets accepted into dental school.

Now he has to move away from the family or take the kids out of school and move them to a new town. There is an expense to either scenario. He also has to come up with money for tuition, books, transportation to and from classes, supplies, equipment, food, etc...yet his wife doesn't quite make what he was earning before school.

He decides to take out student loans. But since he cannot work much if at all during dental school, he will also need to borrow above tuition to be able to keep a roof over his family and food on their table. He doesn't really have credit card debt, but surely the kids need clothes and school supplies as well.

What should he do if his parents are just as financially tight as he is?

Should he give up on his dream of becoming a doctor?

Believe it or not, this is not an uncommon scenario in the real world. Most of this scenario also applies to me, with the exception of the "accepted into dental school" part, heh...

I would definitely appreciate some ideas and suggestions that would allow me to avoid borrowing $200,000 to get through medical/dental school.

And trust me...we are very frugal with our money...we can't even afford health insurance...we have 1 car that we share between our responsibilities...which means if I need the car one day, I have to drive her 25 miles to work, then circle back around...then pick her up later.

 

[ShawnOne]

FYI...

According to my financial calc...

Payments/Year = 12
# of payments = 120 (10 years)
Interest/year = 6% (compounded)

Amount of loan = $350,000
Monthly payment = $3,885

Amount of loan = $300,000
Monthly payment = $3,330

Amount of loan = $250,000
Monthly payment = $2,775

Amount of loan = $200,000
Monthly payment = $2,220

 

[drPheta]

If you want a worst case scenario picture, we can do this.

Loan amount $300,000
= 3,330 monthly payments (6% interest)

Say you took the entire loan out during your first year (which the school and lenders won't let you do, but this is hypothetical and makes calculations easier), and the interest was accruing on that at 6%
= 72000

So, at the end of 4 years you capitalize the loan and owe $372,000


With a 10 year repayment plan, your $3,330/mo payments now become....$4,129/mo = $49,548/year

You will be in the 30%-40% tax bracket , and if you want to have $40,000 liquidity, you will need to earn:

liquidity + loan payments + tax = salary

$40,000 + $49,548 + .4(salary) = salary

salary = $149,247

 

[LestatZinnie]

thx for the great calculations

however i think for the avg people the loan would be higher, due to purchase of house, vehicle, and perhaps even a practice.

 

[gryffindor]

Those with less debt at graduation have more money available to borrow for their practice or house or car or whatever, like no2thdk999 said.

Location - May or may not matter. If you hold an acceptance to your state school, think LONG & HARD before turning it down to attend a private school based solely on the fact that "But NYC/Philly/Boston is so much more fun than Buffalo/Stonybrook/Farmington/Gainseville/Baltimore/etc." Take all the money you saved from going in-state and live large in your dream location after graduation when you are a PRACTICING DENTIST with a REAL INCOME, not loans.

mmapcpro - Read this thread that was in the Dental forum a little while back. Click here. It was a discussion of government benefits for the poor and if dental students receive them or not and why. I don't think its right for the student whose daddy can fork over the entire tuition to sign up for government doles, but everyone is different and maybe your situation warrants it. Only you can decide that, but you asked for suggestions and this is the route some of our colleagues take to make ends meet in the scenario you described. Also, we have some our classmates with families have flexible part-time weekend jobs to bring in some extra income. Maybe not during the study & lab intensive semesters where there is a huge threat of failing out, but with your dental-related computer skills, you could probably have a really good weekend job in your third and fourth years.

 

[Awara No. 1]

Thanks ShawnOne and drPheta and others for your great calculations.

 

[paulallen]

Every dentist I shadowed told me to go to the cheaper school. They said if I spend 200-300K for my education, then have fun paying it back. These guys are happy and successful practicioners. For those of you who think 200-300K is not a big deal...wake up!

PA

 

[Pi__Guy1]

Very good points from everybody. I think there is a tuition threshold where going to a cheaper dental school doesn't matter. Yes, 300K vs. 100K is a big difference but a 50K difference to some people doesn't matter if the school makes them happier. In my situation, I could have gone to a "cheaper" dental school in Nova, but I chose to go to NYU. Did 60-70K weigh heavily in my decision? No. I went to a school that better fit me...

 

[odie77]

Hey guys, use this link to calculate your payments. It's a little more detailed, showing your amortization and how much money goes to interest.

http://nytimes.monstermoving.com/Mortgage_and_Finance/Calculators/PaymentCalc/

 

[drPheta]

Nice site! It shows that my calculations are fairly close to what we should expect to pay back. I've done calculations for 10, 15, 20, 25, and 30 years. They're all pretty close if not extremely close.


Thanks

 

[aphistis]

Originally posted by odie77
Hey guys, use this link to calculate your payments. It's a little more detailed, showing your amortization and how much money goes to interest.

http://nytimes.monstermoving.com/Mortgage_and_Finance/Calculators/PaymentCalc/

Nice investigative work, odie 😀

 

[dmoney]

I have a quick question about that repayment thing since I have no clue what-so-ever about loans (I didn't take any for my undergrad) and I'm trying to catch up on it. I figured that I need to borrow 150k for all 4 years (after the scholarship and some help from my parents), how does that work as far as paying it back? assuming the interest is around 5% (I don't really know what it would be), also, when do you start paying the loans back? and one last thing, do you think that 150k is a lot of money or is it the average amount that people borrow? thanks for your help

 

[aphistis]

Originally posted by dmoney
and one last thing, do you think that 150k is a lot of money or is it the average amount that people borrow? thanks for your help

$150k is somewhat above average...but why concern yourself with what other people are borrowing? Does it matter? Will it change the amount you need to borrow? Financing an education is a highly individual affair, and there's nothing to gain by distracting yourself with other people's issues.

 

[ItsGavinC]

Good post Bill, although I think that 150k might be fairly close to what people are borrowing these days.

If not, then we can probably say that 150k is below average for what students at private schools are borrowing. $150,000 will barely cover the cost of 4 years of tuition plus intruments and fees for the cheapest of private schools.

 

[groundhog]

Like aphistis stated, the impacts resulting from the amount of debt one is willing to take on is an individual matter.

Take two people who both face a worse case scenario of $400,000 total debt for dental school and undergrad.

One person is self centered and wants it all right now. The other is determined to sacrifice to the max for the next generation so that her offspring may not need to take out loans to get a professional degree education. One might speculate that these folks will experience different levels of contentment in the short run once those loan payments start coming due.

 

[aphistis]

Originally posted by ItsGavinC
Good post Bill, although I think that 150k might be fairly close to what people are borrowing these days.

If not, then we can probably say that 150k is below average for what students at private schools are borrowing. $150,000 will barely cover the cost of 4 years of tuition plus intruments and fees for the cheapest of private schools.

I'll drink to that 😀 I was including public schools, which I suppose don't apply to this discussion.

 

[dmoney]

Originally posted by ItsGavinC
Good post Bill, although I think that 150k might be fairly close to what people are borrowing these days.

If not, then we can probably say that 150k is below average for what students at private schools are borrowing. $150,000 will barely cover the cost of 4 years of tuition plus intruments and fees for the cheapest of private schools.

wait, when I said 150k, I didn't mean just for tuition but total, meaning it includes the living expenses and everything else that's involved. thanks for your post though

 

[ShawnOne]

$150 seems dirt cheap to me.

All the schools I am looking at will cost me about 1/4 million. This is probably true for most kids in LA accept those at UCLA.