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Is Dental school worth $400k tuition?
Started by JakeSill
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So my plan is to borrow no more than $200k for 4 years of d-school, and my parents would help me with the rest (which is another $150k I believe). Say I get a job that makes $120k a year, after tax that would be around $80k. If I live on $20k a year I can pay $5k a month towards my loans. As a college student I live on a budget of $800/month with 2-3 roommates and no car, so I think after I graduate $1600/month would definitely be manageable even with a car and no roommates. And of course my parents would always welcome me home to live with them too. I don't see myself getting married and having kids anytime soon so I don't have to worry about supporting a family or buying a house. Sounds like if I am disciplined I should be on the right track to pay back my loans in 3 years? @Incis0r you seem pretty savvy on loans and personal finance, what do you think of my plan?
What school are you planning to attend?
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Good work for thinking ahead about this. Your future self thanks you.
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I think at this time of the year when thousands pre-dents are holding more than 1 acceptance and trying to decide on a school, it's important for all of us to read this thread and seriously consider cost of attendance as one of if not the most important factor in choosing a school. It can be very easy to fool yourself into thinking that paying an extra $100,000+ to attend your dream school is worth it. I thought it that way too until I read this thread and several other threads here on SDN. The answer is simply not.
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ALL of the current graduates that I have talked to now regret having gone to an expensive undergrad and dental school. Reality hits hard once you're out there.
Most schools will release their next year's numbers (tuition and fees) in 90-120 days. Expect 5% increase on average across the board. This is a good time for pre-dents to start preparing for the financial decisions that come with applying to dental schools. There is no sense of having 20+ DAT scores and 3.9 GPA, and getting themselves into high tuition schools.
I still think we are about couple of years away from seeing many graduates with $500-600k debt in just 4 years of dental school. That's the tipping point in my opinion, for many perspective students to not apply to such schools.
The annual associate dentist new graduate income has been $100-130k for the past 10-15 years.
I still think we are about couple of years away from seeing many graduates with $500-600k debt in just 4 years of dental school. That's the tipping point in my opinion, for many perspective students to not apply to such schools.
The annual associate dentist new graduate income has been $100-130k for the past 10-15 years.
Just take out taxes, insurance, student loans and BAM! You're making enough to be a Manager at McDonalds.
Army HPSP
It's certainly heading that direction. I wonder if new graduates would share their monthly payments (roughly). That would be such an important piece of information on the dental boards.
As class of 2010, my classmates who are still paying off their debt are paying $2,000-2,500 a month, and it has been 6 years!
For the same school, class of 2017 should be paying $2,500-3,000 a month. A big jump in just 6 years.
These numbers are all post-tax and don't include residency and undergraduate debt.
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