egpndoc

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Just some advice for those who are going to take out some private loans to pay for dental school. If God forbid, something happens to you, your family/spouse will be responsible for paying back your private student loans. The federal loans are dismissed if you pass away. But the private ones are not. So, to protect your loved ones from this enormous debt, I advise you take out a life insurance policy that will cover your loan prinicpal and interest. Just some advice I found while looking around for ways of paying for dental school. GOod luck and sorry about the depressing subject matter.
 

Fullosseousflap

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egpndoc said:
Just some advice for those who are going to take out some private loans to pay for dental school. If God forbid, something happens to you, your family/spouse will be responsible for paying back your private student loans. The federal loans are dismissed if you pass away. But the private ones are not. So, to protect your loved ones from this enormous debt, I advise you take out a life insurance policy that will cover your loan prinicpal and interest. Just some advice I found while looking around for ways of paying for dental school. GOod luck and sorry about the depressing subject matter.
What are the chances of a young (21-25) dental student dying or even dying after a few years of borrowing?

Scant - little - NADA!

Don't waste your money.

No one is going after your parents or spouse for school loans if you die.
 
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egpndoc

egpndoc

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Fullosseousflap said:
What are the chances of a young (21-25) dental student dying or even dying after a few years of borrowing?

Scant - little - NADA!

Don't waste your money.

No one is going after your parents or spouse for school loans if you die.
Are you certain Dr Cole? I read it several times on the private lenders statement. And perhaps you may not pass away while you are in school, but say you graduate and have a wife and kids in a couple of years. You will still most likely owe money on your student loans. If something does happen, even though it is more than likely it will not, would you want your widow and newborn baby burdened with this? I 've seen some Life insurance policies for $10-$15 PER MONTH.
 

Fullosseousflap

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egpndoc said:
Are you certain Dr Cole? I read it several times on the private lenders statement. And perhaps you may not pass away while you are in school, but say you graduate and have a wife and kids in a couple of years. You will still most likely owe money on your student loans. If something does happen, even though it is more than likely it will not, would you want your widow and newborn baby burdened with this? I 've seen some Life insurance policies for $10-$15 PER MONTH.
After graduation and having a wife and a few children is different than being 23, single, no children and being a student.

A term life insurance policy for 1M should not cost you very much at 26 or 27. This will protect your family until you buy a home and then you have to step it up to a higher amount.
 

InMyCrossHairs

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If you are an ASDA member you can get a $50,000 life insurance policy for free while enrolled in Dental School. It is not much, but will probably cover your private loans.