How to pay for BU?

[UMpredent]

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I've recently been accepted into BU and am still deciding what to do. I got a great vibe from the school and from the city, but the cost is a little daunting. I don't doubt that loans will be available, but for any current BU students or any BU alumni- are you having a hard time paying them back? Do you think it will be a problem for you in the future?

 

[lotexigeus]

1. start a fight club
2. ???
3. profit

 

[Daurang]

My then gf's friend did escort on weekends.

 

[TJNova2011]

My then gf's friend did escort on weekends.

What percent did you collect?

 

[cowboy17]

.

 

[Cold Front]

I've recently been accepted into BU and am still deciding what to do. I got a great vibe from the school and from the city, but the cost is a little daunting. I don't doubt that loans will be available, but for any current BU students or any BU alumni- are you having a hard time paying them back? Do you think it will be a problem for you in the future?

Congrats for the acceptance.

There is a famous TV show called "what you get for the money" on cable tv's FLN. So I will use their approach for BU:

1. Faculty (very supportive and helpful, the system we have here between faculty and students keeps getting better)
2. Education (clinically, you will learn by the book and no exceptions. pre-doc pros faculty are as good as any post-doc trainers).
3. City and Weather (this place is cold, cold, cold if you are from a warm state, but you can't beat 4 seasons and great night life)
4. Facility (BU building is not as pimping as Tufts, but BU pre-doc clinic ops are far more realistic and suitable tx areas to work in).
5. Curriculum (BU does not have block exams that will turn to hell-week. It's very doable, at the same time enjoy some free time).

Remember, there are at least 5-10 more schools more expensive than BU. So you will be in huge debt at almost any school these days. By the time you graduate, 2014, the dentist workforce will start to shrink, and salaries will be 15% higher than they are now - hopefully making those huge loans more affordable for you to pay.

 

[UCFpremed]

Awesome...we've got another one from Fl coming up to Boston. I'm in my 3rd year and I've got a pile the size of a little person in loan statements. I'm not really worried about not being able to pay off the loans - it's not the bad type of debt and hopefully like ColdFront said the market will be back up in a few years.

 

[ckmonster]

Thanks ColdFront and UCFpremed for your insight! I got into BU as well and really like it... Im between NYU and BU and Im just worry about the clinical experience at BU... Can you guys give us some info on that please! I feel like this is the decisive factor for me.

Thanks 😉

 

[rsj05004]

bump

 

[ckmonster]

bump!

any info on your clinical experience?

 

[dmd87]

sell an arm and a leg.... and maybe a few other organs.

 

[Cold Front]

sell an arm and a leg.... and maybe a few other organs.

Don't judge a book by it's cover. Yes, BU is expensive, so as Tufts, UPenn, Columbia, etc. These are all among the best programs out there, they just happen to be private schools in big cities; i.e. you will not see cows crossing streets on your way to school.

ckmonster: Clinical experience at BU is as good as any where else. Our clinic will go paperless within 6 months, and digital xrays will be phased in into all treatment areas.

 

[BiomajorPreDent]

What do you mean, you doubt that loans will be available? Federal loans are available for everyone going to a US dental school (by everyone, I mean every American).

How do you pay for BU? Loans... simple. I would have assumed that BU Financial Aid officers would have explained that during the interview.

The OP's post said: "I don't doubt that loans will be available, but for any current BU students or any BU alumni- are you having a hard time paying them back?"

He knows he can get loans, he is worried about paying them back.

OP, you should have no problem paying them back, just don't take more loans out than you need. You can consolidate your loans after graduating.

I was working numbers out myself and I would have repayments of about $1900 a month (total of about $260,000 in debt)

So: from the ADA 2008 Survey of New Dentists, which is available from the ADA:

(I am pretty sure you need to be a member of the ADA to pull these off the website)

The average hourly rate for associate GP's is $68 an hour, which is about $130,000 a year.

Assuming you made just under that, $120,000 a year, thats about $7,724 a month after taxes.

You should be able to pay out $1,900 a month and still have $5,800 to live off of and save up for purchasing your own practice eventually.

Now this depends on how much you end up making, the kind of lifestyle you like to live, and how much you take out for school.

But if new dentists weren't able to pay off their loans, they would not be going into dental school to begin with. 👍

ps: check out this website http://loanconsolidation.ed.gov/borrower/bloans.html#skipnav

 

[UMpredent]

What do you mean, you doubt that loans will be available? Federal loans are available for everyone going to a US dental school (by everyone, I mean every American).

How do you pay for BU? Loans... simple. I would have assumed that BU Financial Aid officers would have explained that during the interview.

If you look at my original post it says: "I DON'T doubt that loans will be available..."

 

[UMpredent]

The OP's post said: "I don't doubt that loans will be available, but for any current BU students or any BU alumni- are you having a hard time paying them back?"

He knows he can get loans, he is worried about paying them back.

OP, you should have no problem paying them back, just don't take more loans out than you need. You can consolidate your loans after graduating.

I was working numbers out myself and I would have repayments of about $1900 a month (total of about $260,000 in debt)

So: from the ADA 2008 Survey of New Dentists, which is available from the ADA:

(I am pretty sure you need to be a member of the ADA to pull these off the website)

The average hourly rate for associate GP's is $68 an hour, which is about $130,000 a year.

Assuming you made just under that, $120,000 a year, thats about $7,724 a month after taxes.

You should be able to pay out $1,900 a month and still have $5,800 to live off of and save up for purchasing your own practice eventually.

Now this depends on how much you end up making, the kind of lifestyle you like to live, and how much you take out for school.

But if new dentists weren't able to pay off their loans, they would not be going into dental school to begin with. 👍

ps: check out this website http://loanconsolidation.ed.gov/borrower/bloans.html#skipnav

Thanks for the numbers 👍