Help me decide what to do with my life!

[Jinx121]

So I was wait listed at my state school (Marquette) and I think its unlikely I will get in this cycle. I was accepted at Iowa but now I'm suddenly realizing that I cant afford the $500,000 of student loans that Ill graduate with. I could apply for the three year military HPSP, but I don't want to bank on getting that.

So I'm torn between taking the debt or taking a gap year and reapplying. If I take a gap year I'm thinking about getting my dental assistant licence and trying to find a job doing that. I really don't want to take a gap year as the whole application process sucks.

Other Info
Overall GPA: 3.983
DAT score: 22 AA, 25 PA, 20 QR, 26 RC, 22 Bio, 21 GC, 20 OC, 21 TS

Any advice would help! thanks

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[knewstance]

I would accept the spot at Iowa. You would be saving roughly $10k per year by attending Iowa as OOS vs Marquette IS. The extra year of waiting and lost wages are not worth saving $40k.

Plan on going to Iowa, but if you get off the waitlist at Marquette, that's great. I would suggest applying to HPSP for either school.

 

[Cookie_nibbler]

I would accept the spot at Iowa. You would be saving roughly $10k per year by attending Iowa as OOS vs Marquette IS. The extra year of waiting and lost wages are not worth saving $40k.

Plan on going to Iowa, but if you get off the waitlist at Marquette, that's great. I would suggest applying to HPSP for either school.

I also agree with you, its not worth waiting and loosing a year of your life.

 

[Jinx121]

I would accept the spot at Iowa. You would be saving roughly $10k per year by attending Iowa as OOS vs Marquette IS. The extra year of waiting and lost wages are not worth saving $40k.

Plan on going to Iowa, but if you get off the waitlist at Marquette, that's great. I would suggest applying to HPSP for either school.

Ok. Thank You. I'll consider this.
Also I would be living at home for Marquette so I would be saving around $30k per year

 

[knewstance]

Ok. Thank You. I'll consider this.
Also I would be living at home for Marquette so I would be saving around $30k per year

Gotta give all the info up front!

That is a larger consideration (~$120k total), but I think that I personally would stick with my original plan I posted above. You have no guarantee that you will get in later years and every year you wait, tuition continues to increase.

 

[deleted903013]

If Iowa will genuinely cost you half a million dollars compounding at about 7%, I wouldn't blame you for not going. Half a million dollars can buy a house. If you go, just be sure you understand the financial implications of that kind of debt and plan accordingly.

 

[chris ergot]

You have very good stats so I dont see why you should be waitlisted, but then again, what do I know.

 

[zjoey19]

Accept it and go.

We are not talking about $500k. Do the calculation again: By going you spend 40k more tuition + 10k x4 more living expenses (keep in mind by living at your parents' home your living expenses would be 20k/year. It might seem to be free to you, but it's not. Your parents have to pay that 20k for you every year you wait).

That comes down to 80k difference, assuming you would wait for only one more year. Who knows how many years you would wait until your state school decides to take you. Maybe never.

 

[deleted903013]

Is it too late to apply for HPSP this cycle? If not, get in touch with a recruiter ASAP. You have very competitive stats for it.

We are not talking about $500k

Iowa's out of state total cost is $103,000. For four years compounding that's going to be ball park half a million.

 

[artist2022]

I'd go because aside from tuition, there's no guarantee you'd get in next year. If you decline this seat, you will have to disclose so on your application next year, and it will raise a red flag -- "There's this applicant who says they want to be a dentist, and they were given the chance to be one by joining Iowa's CO 2024, but instead they declined? Who's to say they won't do the same to our program? Why should we take a chance and waste time interviewing them if they might just decline our offer too?"

Also, there's no way to get IS tuition at Iowa after your first year? IS is about 25k cheaper which is pretty good, and if you got it after D1, that's 75K you don't have to pay back/won't accrue interest on... I'd look into establishing residency: Residency | Office of the Registrar

Also pt 2, since you're waitlisted, send a letter of intent to Marquette and pay the deposit for Iowa. Keep updating Marquette and hopefully you'll get off the waitlist, and all you'll have lost is the deposit!

Good luck!

 

[setdoc7]

Accept Iowa. Become an Iowa resident. Become a dentist.

 

[Jinx121]

Accept Iowa. Become an Iowa resident. Become a dentist.

The problem with Iowa is that you have to live there for 4 years for a non-educational purpose, have a job, and pay taxes to become a resident. So there no way to get around the out of state tuition

 

[sobertiger]

You're pretty much forfeiting a year's wages. Not worth it.

 

[setdoc7]

You have a great opportunity sitting in front of you. Things happen. You may not get this chance again.

 

[taurusdentist]

Your stats are pretty competitive for the HPSP scholarship, so I would go with an Iowa acceptance and get started on the HPSP 3 year scholarship. Doing that would cover tuition at Iowa for your last 3 years and it would give you a monthly living stipend of $2300, which would cover your housing fees so really you would just be paying back one year of tuition at Iowa + housing.

 

[Jinx121]

Thank you everyone who replied! I accepted my offer to Iowa and I've started applying for HPSP.

 

[MG14]

Just want to say kudos to you for thinking about the financial aspect of all this! Too many pre dents don’t have a clue or use the argument “I’ll be a dentist and pay it back eventually”. Although you’re situation is not ideal, (I mean is anyone’s?) keep being aware and you’ll find success. Best of luck!

 

[Aarob]

Accept Iowa! It’s a great school, your not getting any younger and you may not get a second shot.

 

[IsaiahR23]

Thank you everyone who replied! I accepted my offer to Iowa and I've started applying for HPSP.

I'm also in state Wisconsin and got waitlist at Marquette annoyed because only 96 in staters interviewed so I was one of the 46 not getting in... In other words, see you at Iowa next year!

 

[LFA20]

So I was wait listed at my state school (Marquette) and I think its unlikely I will get in this cycle. I was accepted at Iowa but now I'm suddenly realizing that I cant afford the $500,000 of student loans that Ill graduate with. I could apply for the three year military HPSP, but I don't want to bank on getting that.

So I'm torn between taking the debt or taking a gap year and reapplying. If I take a gap year I'm thinking about getting my dental assistant licence and trying to find a job doing that. I really don't want to take a gap year as the whole application process sucks.

Other Info
Overall GPA: 3.983
DAT score: 22 AA, 25 PA, 20 QR, 26 RC, 22 Bio, 21 GC, 20 OC, 21 TS

Any advice would help! thanks

take the Iowa seat and apply for hpsp for all 3 branches. Also apply for NHSC

 

[rectangle]

If you happen to have time, also read the book White Coat Investor. Might be useful