Give Up Acceptance To Try Again Next Cycle?

[dp93]

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perhaps not a fan of PBL? that would be reason enough for me.

 

[youraverageasia]

you do not lose a first year dentist salary by delaying a year. you lose a year of your PRIME dental years where you make the most. you only have so many prime years, delaying a year will result in losing a years income at your highest potential.

Can you explain what you mean by prime years? Are you saying as you get older you start to lose more income?

 

[rendal]

Can you explain what you mean by prime years? Are you saying as you get older you start to lose more income?

I think he means prime years = later years.

Let's say you want to work until you are 65 and then retire.

If you start your career at 30 years old, then you will work 35 years and make X dollars.
If you start your career at 31 years old, you will work 34 years, and make (X - (salary you would have made in the 35th year)) dollars.

 

[youraverageasia]

I think he means prime years = later years.

Let's say you want to work until you are 65 and then retire.

If you start your career at 30 years old, then you will work 35 years and make X dollars.
If you start your career at 31 years old, you will work 34 years, and make (X - (salary you would have made in the 35th year)) dollars.

I think you can argue however, that you won't need to work that 1 extra year if you go to a school with a tuition thats 100k lower like OP is trying to do.

 

[rendal]

I think you can argue however, that you won't need to work that 1 extra year if you go to a school with a tuition thats 100k lower like OP is trying to do.

You can definitely argue that if OP was accepted to the cheaper school this cycle. Then he could either work ~a year less and make the same money over his career or work the same amount and make ~a year's worth more.

But OP is in a position where he would have to apply again, and there is no guarantee that he will get into that cheaper school or ANY school for that matter next year. The risk is high, and the reward is low when you consider the lost salary. I wouldn't take those odds.

 

[irishmom]

Not to mention that the schools that accepted him this year may be leery of accepting him again...

 

[ajj70]

I think you can argue however, that you won't need to work that 1 extra year if you go to a school with a tuition thats 100k lower like OP is trying to do.

Except for the time value of money....the earlier you can get out an work and save, the better off you will be in your retirement years. There are 1000 variables to consider but simply, if you work more years you will earn more money and your saved money will compound faster.

Just running some numbers...if you start with $100,000 and save $100,000 every year for 34 years, that money grows (assumed) to 12.27 million. Take that same example and add ONE more year and that number is $13.12 million.....so that extra $100,000 for school this year translates into about $850,000 more later (ok, maybe $750,000 after interest paying off that loan.)

 

[customx]

to the OP: why didn't you put a depost for LECOM instead.... much cheaper then MWU. Seems like money is a main factor here ... so I'm not sure why you didn't go for the cheaper option with the acceptances you have. Goodluck!

I was not impressed with the school at all. The presentations were disorganized, I don't feel like PBL would be a good way for me to learn (I've never had a PBL course, but the way faculty and students described it, I couldn't see myself learning that way), and while I know that I can live anywhere for dental school, I'm certain my wife would go stir crazy in Bradenton. Sure, Tampa is a little more than an hour away, but I need to factor her job prospects into my decision. I also didn't want to move to Podunk, FL or Erie, PA my 4th year. Of the 6 schools I interviewed at, LECOM was clearly my least favorite.

 

[customx]

Just running some numbers...if you start with $100,000 and save $100,000 every year for 34 years, that money grows (assumed) to 12.27 million. Take that same example and add ONE more year and that number is $13.12 million.....so that extra $100,000 for school this year translates into about $850,000 more later (ok, maybe $750,000 after interest paying off that loan.)

Let's assume that I make 120k right out of school. That will become $90k after taxes. Loan payments will be about $4k a month, so now I'm down to about $40,000. My income should increase each year, up to the point where I might be taking home about $60-80k after taxes and loan payments. Once I open a practice I'll be able to pay that loan down much quicker.
If I can save $200k by getting into my state school, loan payments will be cut by half, and I should be able to take home about $60k my first year, eventually getting to $80-100k after taxes and payments.
I'm going to post on Dental Town and see what people say. I've also gotten in touch with the schools I've been rejected from to see what I can do to improve my app. I was competitive enough to get interviews, but I failed short of the ultimate goal which makes everything so frustrating.

 

[arlmay]

As my advisor told me: It doesn't matter where you go you will be able to pay back the loans easily after you graduate. Most new dentists earn average of 120-180k right out of school. Life has no guarantees...take what you've been offered now.

Excuse me while I rant:
While I would agree in telling him to go ahead and attend school if he really wishes to become a dentist, your advisor's words should not be held as gospel. It's attitudes like this that are putting a good number of graduates in financial distress after graduation and the problem is only worsening. Your projected incomes are a little skewed, 120k would be about the average for a graduate, some significantly less. Attend one of these 500k private schools, graduate and start paying off your 5k MINIMUM per month loan payment and you tell me just how easy it is to pay it off. Factoring in interest alone you'll be racking up 30k per year onto your principle. So after taxes on your (very lenient) 120k per year you Take home 80k, of that you have to put 30k towards student loans just to pay the interest before even chipping away at your original principle. If you want a chance to ever get out of debt you'll need to pay 50-60k minimum a year, which leaves you with a mere 20k per year to live on to pay your house payment, car payment, insurance, living expenses...you get the point. If you want to listen to your advisor who lives in Lala land and obviously can't calculate simple interest and loan repayment then that's up to you. You'll spend the next 20-30 years repaying your student loans all while living on 20-50k per year. I'll let you know this isn't the glorified Life of a dentist most people think they're Signing up for.

To op:
I can tell you are cognizant of the financial implications of your situation, and have come to look for some advice from people that are further along in their dental careers. This is commendable and shows that you are putting thought into the cost of your dental education, which so many other dental students are not doing. The bad news is no well informed party will be able to give you a straight answer to your question. My anecdote may seem a bit more pessimistic than the reality of attending your school in question but the numbers won't Lie to you. I encourage you to find out via the schools website what the entire cost will be and use a loan interest calculator with a conservative estimate of 120k income -taxes as well as figuring loan payments to determine for yourself: Is this a feasible amount to live off of? Is my interest in becoming a dentist justified with these numbers in mind? If so, adopt an attitude exactly contrary to the previous poster and realize you will be living a frugal lifestyle for a good number of years after actually becoming a dentist. I read a post from a practicing dentist a while back concerning a similar topic, which I found very insightful. He said," debt is a poison which you should rid from your life as soon as possible." Live frugally during DS and the years thereafter, pay as much as you can towards your loan, and you will in time attain the comfortable lifestyle you desire, but only with great sacrifices in the meantime.

"Always bear in mind that your own resolution to succeed is more important than any other one thing"
-Abraham Lincoln

Good luck in your decision


Edit: I forgot to mention, people often forget these private schools are in the business of making money educating people to become dentists. I would be especially leery of listening to them on how easy paying off 400-500k will be just as much so as I would be a car salesman trying to sell me his ________ car. There is little difference between the two apart from one is a profession and one is a product, the principle remains the same. As long as people are willing to pay x extravagant amount to become a dentist they will stay in business, but where should the line be drawn as to what the degree is worth?

 

[ICUrunning]

Let's assume that I make 120k right out of school. That will become $90k after taxes. Loan payments will be about $4k a month, so now I'm down to about $40,000. My income should increase each year, up to the point where I might be taking home about $60-80k after taxes and loan payments. Once I open a practice I'll be able to pay that loan down much quicker.
If I can save $200k by getting into my state school, loan payments will be cut by half, and I should be able to take home about $60k my first year, eventually getting to $80-100k after taxes and payments.
I'm going to post on Dental Town and see what people say. I've also gotten in touch with the schools I've been rejected from to see what I can do to improve my app. I was competitive enough to get interviews, but I failed short of the ultimate goal which makes everything so frustrating.

Have you talked to UW regarding your status?

 

[ajj70]

Excuse me while I rant:
While I would agree in telling him to go ahead and attend school if he really wishes to become a dentist, your advisor's words should not be held as gospel. It's attitudes like this that are putting a good number of graduates in financial distress after graduation and the problem is only worsening. Your projected incomes are a little skewed, 120k would be about the average for a graduate, some significantly less. Attend one of these 500k private schools, graduate and start paying off your 5k MINIMUM per month loan payment and you tell me just how easy it is to pay it off. Factoring in interest alone you'll be racking up 30k per year onto your principle. So after taxes on your (very lenient) 120k per year you Take home 80k, of that you have to put 30k towards student loans just to pay the interest before even chipping away at your original principle. If you want a chance to ever get out of debt you'll need to pay 50-60k minimum a year, which leaves you with a mere 20k per year to live on to pay your house payment, car payment, insurance, living expenses...you get the point. If you want to listen to your advisor who lives in Lala land and obviously can't calculate simple interest and loan repayment then that's up to you. You'll spend the next 20-30 years repaying your student loans all while living on 20-50k per year. I'll let you know this isn't the glorified Life of a dentist most people think they're Signing up for.

To op:
I can tell you are cognizant of the financial implications of your situation, and have come to look for some advice from people that are further along in their dental careers. This is commendable and shows that you are putting thought into the cost of your dental education, which so many other dental students are not doing. The bad news is no well informed party will be able to give you a straight answer to your question. My anecdote may seem a bit more pessimistic than the reality of attending your school in question but the numbers won't Lie to you. I encourage you to find out via the schools website what the entire cost will be and use a loan interest calculator with a conservative estimate of 120k income -taxes as well as figuring loan payments to determine for yourself: Is this a feasible amount to live off of? Is my interest in becoming a dentist justified with these numbers in mind? If so, adopt an attitude exactly contrary to the previous poster and realize you will be living a frugal lifestyle for a good number of years after actually becoming a dentist. I read a post from a practicing dentist a while back concerning a similar topic, which I found very insightful. He said," debt is a poison which you should rid from your life as soon as possible." Live frugally during DS and the years thereafter, pay as much as you can towards your loan, and you will in time attain the comfortable lifestyle you desire, but only with great sacrifices in the meantime.

"Always bear in mind that your own resolution to succeed is more important than any other one thing"
-Abraham Lincoln

Good luck in your decision


Edit: I forgot to mention, people often forget these private schools are in the business of making money educating people to become dentists. I would be especially leery of listening to them on how easy paying off 400-500k will be just as much so as I would be a car salesman trying to sell me his ________ car. There is little difference between the two apart from one is a profession and one is a product, the principle remains the same. As long as people are willing to pay x extravagant amount to become a dentist they will stay in business, but where should the line be drawn as to what the degree is worth?

Let's not forget that the state schools are highly subsidized by state taxes and that the cost to actually educate students is no where near what they pay instate and is much closer to the cost of the private schools. State schools are just as much "in the business" as private schools.

 

[customx]

Have you talked to UW regarding your status?

Yes, I was just emailed 20 minutes ago. The main reason I wasn't offered admission was due to "academic inconsistency."

Keep in mind I'm a non-trad, early 30s, and earned my BA 10 years ago. I worked full-time while completing all the pre-reqs, and I know for a fact that my grades suffered a bit as a result.

I got a 4.0 in 3 quarters of gen chem
A 3.52 in Bio (cellular, plant, animal, A&P I, microbiology)
3.2 in Physics
But I think what really screwed me over was my final quarter of ochem and my first quarter of biochem. I got a 3.3 in ochem I, a 3.0 in ochem 2, then a 2.0 in ochem 3 and a 2.8 in biochem I.

However, I thought I did quite well on my DAT, and Ochem was my highest science score with a 23, which I thought may make up for the low ochem grades. Obviously not

 

[ICUrunning]

Yes, I was just emailed 20 minutes ago. The main reason I wasn't offered admission was due to "academic inconsistency."

Keep in mind I'm a non-trad, early 30s, and earned my BA 10 years ago. I worked full-time while completing all the pre-reqs, and I know for a fact that my grades suffered a bit as a result.

I got a 4.0 in 3 quarters of gen chem
A 3.52 in Bio (cellular, plant, animal, A&P I, microbiology)
3.2 in Physics
But I think what really screwed me over was my final quarter of ochem and my first quarter of biochem. I got a 3.3 in ochem I, a 3.0 in ochem 2, then a 2.0 in ochem 3 and a 2.8 in biochem I.

However, I thought I did quite well on my DAT, and Ochem was my highest science score with a 23, which I thought may make up for the low ochem grades. Obviously not

Really sorry to hear that man. I hope whatever decision you make in the upcoming days/weeks are to your satisfaction.

 

[2THDDS]

Have you gotten in yet?

nope! hoping to get off the waitlist somewhere 🙂

 

[BabyShades]

Let's assume that I make 120k right out of school. That will become $90k after taxes. Loan payments will be about $4k a month, so now I'm down to about $40,000. My income should increase each year, up to the point where I might be taking home about $60-80k after taxes and loan payments. Once I open a practice I'll be able to pay that loan down much quicker.
If I can save $200k by getting into my state school, loan payments will be cut by half, and I should be able to take home about $60k my first year, eventually getting to $80-100k after taxes and payments.
I'm going to post on Dental Town and see what people say. I've also gotten in touch with the schools I've been rejected from to see what I can do to improve my app. I was competitive enough to get interviews, but I failed short of the ultimate goal which makes everything so frustrating.

They told you that you fell short during the interviews compared to other applicants?

 

[customx]

No, read my post above

 

[krdeuce]

Yes, I was just emailed 20 minutes ago. The main reason I wasn't offered admission was due to "academic inconsistency."

Keep in mind I'm a non-trad, early 30s, and earned my BA 10 years ago. I worked full-time while completing all the pre-reqs, and I know for a fact that my grades suffered a bit as a result.

I got a 4.0 in 3 quarters of gen chem
A 3.52 in Bio (cellular, plant, animal, A&P I, microbiology)
3.2 in Physics
But I think what really screwed me over was my final quarter of ochem and my first quarter of biochem. I got a 3.3 in ochem I, a 3.0 in ochem 2, then a 2.0 in ochem 3 and a 2.8 in biochem I.

However, I thought I did quite well on my DAT, and Ochem was my highest science score with a 23, which I thought may make up for the low ochem grades. Obviously not

Well if this is what they said then you're decision to take the acceptance at MWU-AZ should be pretty easy now. The good news is, that's arguably the best dental school in the country, it was definitely my favorite. If you're worried about paying for it, would you consider joining the National Guard? It pays off $240,000 of loans and it doesn't affect your regular job. Get a regular job with the NHSC for 2 years and that's another $50,000 in loan repayment + salary. Boom you have 300k paid for just like that

 

[midman19]

That is a valid argument when considering 2 schools, but not so valid considering a school or no school. There is no guarantee he will get in next year or ever...so, then what? That would not be a chance I would be willing to take over the potential loan of $100,000 more, when that will be off-set by starting work a year earlier.

I agree with you fully. All I was saying is too many people act like 100k here and there isnt a big deal. That's why so many dentists are swallowed by their debt into their 50s. I'm just saying its not as easy as it looks on paper which is why its worth at least thinking about the options. I still think he should take the acceptance, however, we all need to take the whole student loan thing a bit more seriously and realize the magnitude of those numbers with interest applied over 20 years instead of just acting like its going to be no big deal cause we will all be rich dentists...

 

[arlmay]

Let's not forget that the state schools are highly subsidized by state taxes and that the cost to actually educate students is no where near what they pay instate and is much closer to the cost of the private schools. State schools are just as much "in the business" as private schools.

You are right about state schools being subsidized by taxpayer dollars and it is a highly bureaucratic s system that has excessive costs many times. The difference between the two, and one of the main problems with the idea of private schools is that these schools have vested interests in convincing students to attend their schools. They are charging tuition that not only pays their operating costs, faculty salaries, but they're keeping more for themselves as well. If they didn't, how could they keep their clinic doors open? State schools know where the majority of their funding will be coming from and do not rely on student tuition their budget nearly as much as private schools.

 

[irishmom]

I'm not saying it's not a lot of money. He is a non-trad student just like me...the kicker is that we both have spouses that will be helping pay for our living expenses. That is why I say to just go for it. Yes we may only bring home 30 to 50 K after taxes and bills, but I know my hsband will still be bringing home ~100K each year too.

 

[irishmom]

I just read your message on Dtown. We are almost exactly the same...except my state school did accept me. What we both have is wisdom from living and spouses to help us along. I am very close to your age and at times I wonder about all the debt (with my undergrad I will have about 300-325K in loans after I graduate). I plan on going the NHSC route to help and live at the same level I am now for at least 5 years...but I get the sweating about the debt at our age. We have 10 to 12 years less to practice than the young'ns...lol.

 

[LFA20]

As my advisor told me: It doesn't matter where you go you will be able to pay back the loans easily after you graduate. Most new dentists earn average of 120-180k right out of school. Life has no guarantees...take what you've been offered now.

120-180k starting? lol in your dreams...

 

[LFA20]

I applied to 15 schools and interviewed at UW, UNLV, Michigan, Nova, LECOM and MWU-AZ. Unfortunately the only 2 schools I have been accepted to are MWU-AZ and LECOM. MWU was my favorite school, but it is also the most expensive by at least $50k, once living expenses are factored in. My wife works, but I figure I will still be close to $350k in debt by the time I graduate. I thought that all my interviews went well, but obviously not well enough to secure an offer of admission from UW, UNLV or Michigan, schools which I was really hoping to attend. UW is my in-state school, and I am fairly certain the class is full and I have not been put on the waitlist. I have a 3.4 GPA with a 22 TS and AA.

I hate to have to go through this process all over again, spend thousands on applications and travel expenses, but the thought of carrying that much debt is scary. There are no guarantees, and I know that I could reapply next cycle and not get in anywhere. Am I being unrealistic, or should I take some upper level bio courses, maybe get some dental assisting experience, and try this again, with the hope of getting into a state school to save some money?

In my opinion, taking on debt of 200k or more is beyond the opportunity cost. Look into NHSC or military..

 

[customx]

In my opinion, taking on debt of 200k or more is beyond the opportunity cost. Look into NHSC or military..

I think I'll do everything I can do pursue a 3 year military scholarship. All tuition paid, about $2k/month stipend, graduate nearly debt free, make a livable wage for three years upon graduation, and serve my country....this may be the best route.

 

[ICUrunning]

I think I'll do everything I can do pursue a 3 year military scholarship. All tuition paid, about $2k/month stipend, graduate nearly debt free, make a livable wage for three years upon graduation, and serve my country....this may be the best route.

There's a tear in my eye.

#freedom #liberty #'Murica

 

[Weakfart]

There's a tear in my eye.

#freedom #liberty #'Murica

I never knew there were so many patriots on SDN. So god damn proud of you all! MURICA.

 

[ICUrunning]

I never knew there were so many patriots on SDN. So god damn proud of you all! MURICA.

Dude, this is my favorite GIF of all time! You know me so well!

 

[Weakfart]

Dude, this is my favorite GIF of all time! You know me so well!

You might like this then patriot.

 

[ICUrunning]

You might like this then patriot.

Mel Gibson and Team America bless you compatriot.

 

[cmcner]

The best school in the country is the one that let's you in.

There is still money in dentistry you may just have to search for it. New grads can start at $180K+ if you're willing to move to the money, which may be out of state.

All of my friends who graduated from USC in the last 6 years are doing fine financially, and most are saving for that IBR/paye bubble. Others are in the armed forces. Others took those high income jobs to pay it back and others had rich parents.

The freshmen who were there when I was a senior last year were projected to pay about $60k more than me for the same education 3.5 years after I was a freshman so waiting a even a year will bring up all schools prices.

I almost waited a year because of price, after finishing dental school I just think about how short sited I was to consider that.

My friend was high on UW waitlist 3 years in a row without an acceptance, my friend never got in.

Enjoy school next year. You won't regret it.

 

[ajj70]

In my opinion, taking on debt of 200k or more is beyond the opportunity cost. Look into NHSC or military..

He is already in his early 30's...is that going to be an issue with the military?

 

[midman19]

He is already in his early 30's...is that going to be an issue with the military?

Yes, and his GPA will be an issue too. The military scholarships are all very competitive, with less spots to give than dental schools have. His best bet is to apply for the NHSC scholarship... Also the deadline has past for the military 4 year scholarships, so he'd have to apply next year for a 3 year...

 

[ICUrunning]

Yes, and his GPA will be an issue too. The military scholarships are all very competitive, with less spots to give than dental schools have. His best bet is to apply for the NHSC scholarship... Also the deadline has past for the military 4 year scholarships, so he'd have to apply next year for a 3 year...

His age is not an issue. They will accept anyone under 40. Or 42, if I can recall correctly.

His stats are fine. Just not for Air Force.

 

[irishmom]

New grads can start at $180K+ if you're willing to move to the money, which may be out of state.

That's just it...I am from Nebraska, and let me tell you, there is big shortage in rural America. I have seen offices that have been for sale for a long time. Most dentists start to try to sell their practices 5-10 year before they need/want to retire just to have someone buy their practice. The dentist in my home town (only dentist in entire county) has been trying to sell for 2 years. I want to move back to the Nebraska, South Dakota, Iowa or Kansas area...finding an opportunity will NOT be a problem for me. A lot of new grads want to live in the big city where there are 3 dentists on every block. That is the problem.

 

[jeffk805dent]

All of my friends who graduated from USC in the last 6 years are doing fine financially, and most are saving for that IBR/paye bubble.

this is assuming IBR/PAYE will exist in the future. The government, contrary to what many students think, isnt exactly on their side.

 

[deleted659902]

I applied to 15 schools and interviewed at UW, UNLV, Michigan, Nova, LECOM and MWU-AZ. Unfortunately the only 2 schools I have been accepted to are MWU-AZ and LECOM. MWU was my favorite school, but it is also the most expensive by at least $50k, once living expenses are factored in. My wife works, but I figure I will still be close to $350k in debt by the time I graduate. I thought that all my interviews went well, but obviously not well enough to secure an offer of admission from UW, UNLV or Michigan, schools which I was really hoping to attend. UW is my in-state school, and I am fairly certain the class is full and I have not been put on the waitlist. I have a 3.4 GPA with a 22 TS and AA.

I hate to have to go through this process all over again, spend thousands on applications and travel expenses, but the thought of carrying that much debt is scary. There are no guarantees, and I know that I could reapply next cycle and not get in anywhere. Am I being unrealistic, or should I take some upper level bio courses, maybe get some dental assisting experience, and try this again, with the hope of getting into a state school to save some money?

You should probably take the (cheaper) bird in the hand. It's not like your application will be significantly improved by next cycle.

 

[customx]

You should probably take the (cheaper) bird in the hand. It's not like your application will be significantly improved by next cycle.

The main issue seems to be a decline in my grades with ochem and biochem. I'm leaning towards going to MWU and applying for a 3 year HPSP scholarship

 

[ajj70]

That's just it...I am from Nebraska, and let me tell you, there is big shortage in rural America. I have seen offices that have been for sale for a long time. Most dentists start to try to sell their practices 5-10 year before they need/want to retire just to have someone buy their practice. The dentist in my home town (only dentist in entire county) has been trying to sell for 2 years. I want to move back to the Nebraska, South Dakota, Iowa or Kansas area...finding an opportunity will NOT be a problem for me. A lot of new grads want to live in the big city where there are 3 dentists on every block. That is the problem.

Not to mention the loan forgiveness programs available for dentist and primary care physicians 👍

 

[gatsby121]

The main issue seems to be a decline in my grades with ochem and biochem. I'm leaning towards going to MWU and applying for a 3 year HPSP scholarship

This is IMO your best bet. man i loved MWU and my best friend is going there (hes a 4 yr HPSP recipient)

 

[customx]

This is IMO your best bet. man i loved MWU and my best friend is going there (hes a 4 yr HPSP recipient)

I thought you and R (I'll keep this slightly anonymous) had both decided on Nova?

 

[LFA20]

The main issue seems to be a decline in my grades with ochem and biochem. I'm leaning towards going to MWU and applying for a 3 year HPSP scholarship

Good idea. Also please apply to all
Branches to maximize your chances. The military scholarships have gotten much more competitive now and unpredictable. I barely received one with a 4.0 science and 3.96 overall gpa..

 

[gatsby121]

I thought you and R (I'll keep this slightly anonymous) had both decided on Nova?

@customx yeah i am 100% Nova and extremely excited about it, just saying i liked what i saw at MWU-AZ and a little sad i wont be going to the same school as my best friend who i have gone through this entire process with. His wife got into MWU's PA program and my wife got into Nova's PA program. if they weren't considerations we would have done everything we could have to go to the same school. But ya man, go for the 3 year HPSP and you wont have to worry so much about finances

 

[TthDec]

I found myself in a very similar boat. I decided that I'd be reapplying this coming cycle but alongisde the 4 year HPSP. If things go well, I'd be saving myself about 1.1 million dollars (approx. 500k debt post graduation -- including interest accumulated during school). The way I see it, I'll be making more $$$ this year than I ever will as a dentist. Not to mention financial freedom is worth more than its weight in gold.

 

[cacajuate]

I found myself in a very similar boat. I decided that I'd be reapplying this coming cycle but alongisde the 4 year HPSP. If things go well, I'd be saving myself about 1.1 million dollars (approx. 500k debt post graduation -- including interest accumulated during school). The way I see it, I'll be making more $$$ this year than I ever will as a dentist. Not to mention financial freedom is worth more than its weight in gold.

How are you so sure that you are going to get HPSP scholarship?

 

[TthDec]

How are you so sure that you are going to get HPSP scholarship?

Not sure at all (though, to my limited understanding from SDN / other sources, the odds are pretty good of landing a 4 year if you apply to the ARMY + NAVY early). If I don't get it, I'm not pursuing the profession. I'm not comfortable with the idea of paying approx 500k at current interest rates. There's a reason that the doom and gloom thing exists over in dental town.

 

[midman19]

Not sure at all (though, to my limited understanding from SDN / other sources, the odds are pretty good of landing a 4 year if you apply to the ARMY + NAVY early). If I don't get it, I'm not pursuing the profession. I'm not comfortable with the idea of paying approx 500k at current interest rates. There's a reason that the doom and gloom thing exists over in dental town.

Why don't you start school this year and apply for a 3 year scholarship next spring. There are many more 3 year scholarships and much easier to get your hands on especially if you apply to Army and Navy. So what if you have to pay for a year of school?

 

[ktran17]

Actually, 3 year scholarships are a lot less abundant than 4 year scholarships. There were 65 4 year scholarships and 20 3 year scholarships this cycle. In addition, when you apply for the three year, you're not only competing with the people on the waitlist for the 4 year, but also first year dental students. Bear in mind that these dental students were accepted to a school to begin with and thus will inherently have higher stats as well.

To customx, don't forget that by delaying matriculation by 1 year, you're also increasing your tuition by 5 additional percentage per year. You end up losing more than just your income potential.

 

[customx]

I've decided to attend MWU and have been in contact with an army recruiter for the 3 year HPSP scholarship. Thanks again everyone

 

[midman19]

Actually, 3 year scholarships are a lot less abundant than 4 year scholarships. There were 65 4 year scholarships and 20 3 year scholarships this cycle. In addition, when you apply for the three year, you're not only competing with the people on the waitlist for the 4 year, but also first year dental students. Bear in mind that these dental students were accepted to a school to begin with and thus will inherently have higher stats as well.

To customx, don't forget that by delaying matriculation by 1 year, you're also increasing your tuition by 5 additional percentage per year. You end up losing more than just your income potential.

This is different than what I was told, especially for the air force. There are only 12 4 year scholarships and about 60 3 year, I don't know specifically about the other branches but my guess was that there would be a consistent trend across the three branches.