youraverageasia

7+ Year Member
Jun 1, 2013
287
77
Status
Pre-Dental
I wanted to post on this forum because you guys actually have to deal with the debt. About how long is it going to take for you guys to pay it off? (this is for people not doing the military scholarship)
 

AVB2104

7+ Year Member
May 17, 2013
1,469
753
Status
Dentist
I wanted to post on this forum because you guys actually have to deal with the debt. About how long is it going to take for you guys to pay it off? (this is for people not doing the military scholarship)
15 yrs
 
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oralcare123

10+ Year Member
Apr 13, 2010
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Depends on the income you will be able to generate. Some people pay it off faster, some - slower
 

youraverageasia

7+ Year Member
Jun 1, 2013
287
77
Status
Pre-Dental
Depends on the income you will be able to generate. Some people pay it off faster, some - slower
Is it as bad as people make it out to be? Will I still be able to spend the money I make, or will I have to live frugally until all of its paid off (which I heard can take 10 - 15 years)
 

oralcare123

10+ Year Member
Apr 13, 2010
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I can give you one example of a friend. Foreign trained dentist - good hand skills, obviously did not need to learn anything after school - 6 days a week, corporate office 150K plus credit cards - about 2 years to pay off, no frugality. You will have to be frugal, because it is hard to have good speed right after school, but you will get there in a couple of months. also your debt will be higher. Just postpone buying a house and getting married - this is a hard one
 

Silent Cool

Member
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10+ Year Member
Jan 30, 2005
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If someone has 1 million dollars of Orthodontics debt, how long will that take to pay off?
 

cbizzle7994

5+ Year Member
Apr 20, 2010
139
8
Status
Dental Student
If someone has 1 million dollars of Orthodontics debt, how long will that take to pay off?
God I hope you are joking about having a million dollars in ortho debt. But with the escalation of both dental school and ortho program tuitions, I guess it is getting to the point where it is theoretically possible to accumulate that kind of debt. Assuming you are taking out federal loans, you're looking at paying roughly $60k in interest annually before even touching your principle. All of which needs to be paid with post-tax money. Then if you don't want to be an associate, factor in the cost of buying a practice or building your own. And if you build your own, factor in the first few years where you are still trying to grow the practice. While I'm sure you will eventually be able to pay it back, I see a lot of sleepless nights and Ramen-filled dinners in your future.
 

beannaithe

Bionerd
15+ Year Member
Mar 16, 2005
859
127
Phila, PA
Status
Dentist
I wanted to post on this forum because you guys actually have to deal with the debt. About how long is it going to take for you guys to pay it off? (this is for people not doing the military scholarship)
I'm five years out. Started with $250k in debt, 6.5% interest. Did a residency and had a rough couple of years starting out (low paying jobs, got stiffed at one place) and I've paid off about $150k or so (don't forget about interest!), still have $120k to go. I should be done with that in the next 3 years. But I live frugally.
 
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