Is it worth it?? Need Opinions?

[Avi8tor22]

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Thank you in advance to anyone taking their time to read over my predicament and weigh in with good thoughts.

I was accepted to my state school for this fall, 2013, and was planning on the HPSP scholarship to help pay. It looks like this option has fallen through and I can't stomach the loans. I am 27 years old and with all of the changes in interest rates, loans being unsubsidized and the cost of tuition sky rocketing I'm not sure if its worth it anymore.

Given my situation, would someone take on the debt at 27 to pursue this degree (probably around 220K), or remain with my current reputable company, work full time and finish a masters in engineering. It seems these days after the 220K in debt, most dentists (GP) pull in between 120-200K a year, making their actual income after loans payments around 90-110K (taxes included). As an engineer in that much time you'd be making a little more to the same and the opportunity costs (not factored in with the engineering) seem to be so high. Sorry if this is an arbitrary post but I was curious if anyone out there is in the same boat?

 

[LogOff]

220k is chump change compared to what a lot of us might be hit with. If being a dentist will make you happy to go to work every day go for it. If your current job provides just as much satisfaction then don't go.

 

[Paperclipz]

Thank you in advance to anyone taking their time to read over my predicament and weigh in with good thoughts.

I was accepted to my state school for this fall, 2013, and was planning on the HPSP scholarship to help pay. It looks like this option has fallen through and I can't stomach the loans. I am 27 years old and with all of the changes in interest rates, loans being unsubsidized and the cost of tuition sky rocketing I'm not sure if its worth it anymore.

Given my situation, would someone take on the debt at 27 to pursue this degree (probably around 220K), or remain with my current reputable company, work full time and finish a masters in engineering. It seems these days after the 220K in debt, most dentists (GP) pull in between 120-200K a year, making their actual income after loans payments around 90-110K (taxes included). As an engineer in that much time you'd be making a little more to the same and the opportunity costs (not factored in with the engineering) seem to be so high. Sorry if this is an arbitrary post but I was curious if anyone out there is in the same boat?

The cost of dental school is ridiculous and I think the only reason we have to pay this much is because half of our tuition goes to paying the salaries of the professors teaching us - BUT with that said, if this is the profession you dream of having then don't let the cost hold you back.

The ADA has a list of various loan repayment programs and programs affiliated by state:

http://www.ada.org/sections/educationAndCareers/pdfs/loan_repayment.pdf

Plus, you never know if you win the lottery someday so money won't even be an issue 🙂 lol

 

[Teeths]

220k is chump change compared to what a lot of us might be hit with. If being a dentist will make you happy to go to work every day go for it. If your current job provides just as much satisfaction then don't go.

👍👍

 

[tommyinVA]

I was accepted to my state school for this fall, 2013, and was planning on the HPSP scholarship to help pay. It looks like this option has fallen through and I can't stomach the loans. I am 27 years old and with all of the changes in interest rates, loans being unsubsidized and the cost of tuition sky rocketing I'm not sure if its worth it anymore.

You have other options. You could take on the loans and then work in public dentistry or set up in an underserved area for a couple years. To me, I don't really see much difference between that and serving in HPSP. Either way, your life won't really be yours for at least 8 years after you finish. At least with the social service options you can tell someone to go f*ck off without risk of being blackballed....

DISCLAIMER:

Let this post in no way suggest any lack of respect for all our servicemen and women. They are far stronger people than I am.

 

[predent12]

If you stay in engineering will you be fulfilled? Or will you always regret not following your dream?

I wonder if even asking this question means that you have your answer?

I left a career myself to pursue dentistry. I lost theoretically 6 years of a $50k (ish) salary... So 300K. Plus the $250K I will amass from loans. So half a million (and then some with interest.)

I still have no regrets. Now ask yourself-- will you?

 

[Avi8tor22]

That is exactly what I needed to hear. Thanks you!

If you stay in engineering will you be fulfilled? Or will you always regret not following your dream?

I wonder if even asking this question means that you have your answer?

I left a career myself to pursue dentistry. I lost theoretically 6 years of a $50k (ish) salary... So 300K. Plus the $250K I will amass from loans. So half a million (and then some with interest.)

I still have no regrets. Now ask yourself-- will you?