If you were to graduate dental school with approximately 300k in loan debt, how long would it take you to pay it off? Just ballpark
If you were to graduate dental school with approximately 300k in loan debt, how long would it take you to pay it off? Just ballpark
Would associates ever make 30k a month? Is that a realistic figure to expect?Depends on your circumstances... i.e mediocre associateship, good associateship, mediocre ownership, good/productive office ownership, lifestyle costs, other variable/fixed expenses in your daily life, etc. If you're doing 30k/month in income as an associate, subtract half for taxes + misc other deductions (worst case scenario), leaves you with about 18k (40% deduction), maybe 5k/month on COL, left with 13k, it all depends on how you split the remainder towards loan service and discretionary income. If you were able to fully utilize 60% of your gross wages @30k/month and direct all that towards loan servicing, you also have to factor in how much of that goes towards interest. 18k*12 = 216k/year, assuming you live with parents and mooch off everyone. Probably can pay it off in 1-2 years as an associate.
I wouldn't advise it though. Put your money towards owning an office and the payoff will be even faster.
Would associates ever make 30k a month? Is that a realistic figure to expect?
If your income comes primarily from base pay, no. If it's from a productive office that pays on production/collections, then it's realistic depending on the location/patient flow.
OP, never forget the part I highlighted.~$140-180k pre-tax.