Interest-Free loans?

[student1985]

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Anyone familiar with any institution/bank that provides interest-free loans to prospective graduate (Dental) students?

 

[BirkChick]

Anyone familiar with any institution/bank that provides interest-free loans to prospective graduate (Dental) students?

Yeah. The bank of Mom and Dad.

Seriously, what would a bank/institution get out of offering interest-free loans? A warm and fuzzy feeling?

 

[student1985]

That's why I put "institution". For people who are NOT in it for money, but simply to help out students with finances without any extra incentives (i.e. interest).

 

[dentwannabe]

That's why I put "institution". For people who are NOT in it for money, but simply to help out students with finances without any extra incentives (i.e. interest).

Honestly, I don't know of any "institution" that does.

I was looking, for religious reasons, and I found that its basically impossible here to get interest-free loans. They have that special loan for disadvantaged students, but that just has a VERY LOW interest rate.

I know of one option some people have done.. approach some wealthy person in your community for a loan.

There is also the NHSC Health Corps program, where they pay for your education and for every year they pay for, you must work 1 year at an underserved dental facility once you graduate. But I believe you can't apply for that until you're in dental school so you still have to take a loan for the 1st year of dental school.

LAST CHOICE .. JOIN THE ARMY. You wont even have to hear the word "loan."

Good luck.

 

[student1985]

Yeah, for me it is religious reasons. I will probably end up having to ask members of the community as well...

 

[AllahIsGreater]

Religious reasons here as well...Does anyone know of anything??

 

[SEAirLand]

Anyone familiar with any institution/bank that provides interest-free loans to prospective graduate (Dental) students?

Highly un-likely that there is a loan, program, institution that will provide the principle only and no interest, origination fee, etc.

What's the motivator for them to do so? I can think of many other occupations where the student is not 99.9% assured a wealthy life-style post professional school.

 

[AllahIsGreater]

Highly un-likely that there is a loan, program, institution that will provide the principle only and no interest, origination fee, etc.

What's the motivator for them to do so? I can think of many other occupations where the student is not 99.9% assured a wealthy life-style post professional school.

http://nhsc.hrsa.gov/ and loan repayment. there are options for those who care to look.

 

[MrAvicii]

there are religious banks that offer no interest loans, but they wont give you a full ride. they'll give you like a few thousand maybe 5k max.

 

[KillaGorilla]

If you guys finds interest free loans sign me up for the limit, just tell them its killagorilla they will know what to do.

 

[dentalWorks]

Anyone familiar with any institution/bank that provides interest-free loans to prospective graduate (Dental) students?

If you hear / heard about it.... please let us know the name, number, contact info of the person

 

[DesertSonata]

Honestly, I don't know of any "institution" that does.

I was looking, for religious reasons, and I found that its basically impossible here to get interest-free loans. They have that special loan for disadvantaged students, but that just has a VERY LOW interest rate.

I know of one option some people have done.. approach some wealthy person in your community for a loan.

There is also the NHSC Health Corps program, where they pay for your education and for every year they pay for, you must work 1 year at an underserved dental facility once you graduate. But I believe you can't apply for that until you're in dental school so you still have to take a loan for the 1st year of dental school.

LAST CHOICE .. JOIN THE ARMY. You wont even have to hear the word "loan."

Good luck.

NHSC Health Corps program is very competitive to get into. I heard around 40 students got it this year.

 

[dentalWorks]

NHSC Health Corps program is very competitive to get into. I heard around 40 students got it this year.

more like a 120... but 3000 applied.... I would know, I got the rejection letter

 

[DesertSonata]

more like a 120... but 3000 applied.... I would know, I got the rejection letter

I was told this by the USC adcoms. But I trust your words over them.

Now back on topic...😱 That's an insane amount of people applying!!! eh..looks like loans are inevitable 🙁

 

[MrAvicii]

I was told this by the USC adcoms. But I trust your words over them.

Now back on topic...😱 That's an insane amount of people applying!!! eh..looks like loans are inevitable 🙁

no worries you will ahve more than enough to pay back your loans. just might have to cutdown on the ferraris or flat screens in every room of the house.

I cant imagine making $5k a month, post tax and not being able to pay off loans.

 

[DesertSonata]

no worries you will ahve more than enough to pay back your loans. just might have to cutdown on the ferraris or flat screens in every room of the house.

I cant imagine making $5k a month, post tax and not being able to pay off loans.

Yes, eventually, with couple of years. And of course it all depends on how wise you are with spending your money. I know docs who have been done with school for over 10 years and still haven't paid it all. And know some that paid it back in around 5 years. It's definitely doable 👍

 

[MrAvicii]

Yes, eventually, with couple of years. And of course it all depends on how wise you are with spending your money. I know docs who have been done with school for over 10 years and still haven't paid it all. And know some that paid it back in around 5 years. It's definitely doable 👍

word! also remember it might be a better choice to spread it over 30 years, if you can use some of that money to invest into a private practice (earlier in your career vs. waiting to do it later.)

 

[SEAirLand]

http://nhsc.hrsa.gov/ and loan repayment. there are options for those who care to look.

I would not call that "interest free".

Its the same thing as the military scholarship program. They pay you money, but you give your life, or time, to them.

An interest free loan would be a loan, with no interest, and no other obligation.

Find that.

 

[dentalWorks]

no worries you will ahve more than enough to pay back your loans. just might have to cutdown on the ferraris or flat screens in every room of the house.

I cant imagine making $5k a month, post tax and not being able to pay off loans.

5k post tax?

a 350k loan on 6.5% interest.... and 10 year repayment will require about $4k a month payment.