So whats the timetable for paying it back? Like 4-5 years? Is it really true you couldn't pay it back as an associate?
10-30 years, if you only make the minimally required monthly payments. It really depends on the lifestyle you choose to have, the state/city where you want to live in, whether you have kids or not, and your spouse's income etc.
My cousin, who is an MD anesthesiologist, graduated 15+ years ago. He is still paying back his student loans. I am sure he makes more than most associate dentists. Working as an independent contractor, he has to buy health insurance for his family, puts his retirement money in the SEP IRA account, and saves money for his kids' college. He takes vacations 1-2 times a year, has 2 young kids, owns a $560k house, which will be paid off in a few years. He currently leases a $55k Porsche Macan (I convinced him to lease intead of buying). Before that, he drove a used BMW 328i. He and his wife are both in their mid 40s and have a very comfortable lifestyle. He can make a lot more if he practices in the mid western states but he chooses to live here in CA.
I also know a dentist couple, who both graduated from Loma Linda with $300+k student loans. They own 2 successful practices in CA. They paid off their student loans + a home mortage before the husband reached his 40th birthday. Since they had no kid, they'd traveled very frequently. They drove simple cars. Their associate dentist drives a much better car (an Audi S7) than theirs. They recently welcomed a baby girl and upgraded to a BMW X5 (which they paid in full of course).
Since I still work part time for a chain, I have the opportunity to meet a lot of different associate dentists. Some are new grads. Some have 5-10 years experience. Some sold their practices (because they failed) and went back to work as an associate. All I hear from these dentists are the constant complaints about their job: the bossy office manager, the managing dentist who takes all the good paying procedures away from them (the associate dentists), lack of instruments, running out of supplies, the lazy and disrespectful assistants etc. That's why none of them stay here for more than 12 months. That's why your ultimate goal should be to have your own office, if you want to become a dentist.