loan repayment

[speedy3816]

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Hi all,

Forgive me if this has been addressed previously. My question is to any practicing dentists who might be on here (well, actually to anyone who really knows). What is the typical monthly payment for an average amount of debt incurred during dental school? COuld you provide any figures or example?

Since (understandably) that might be too difficult a question to answer, perhaps someone can answer this:

Does anyone know of any website with a calculator that can make these type of estimates?

Thanks!

 

[toothfairy85]

I don't know if it's what you're looking for, but if you go to chase.com there is a loan repayment calculator under the student loans link. It allows you to plug in the loan term, interest rate, and the loan amount and I think it gives you a pretty good idea of the monthly payment if I am not mistaken.

 

[dentalman]

Google "loan payment calculator".

The finaid website has an easy one:

http://www.finaid.org/calculators/loanpayments.phtml

Remember, Stafford loans are fixed at 6.8% (as of last academic year and for the foreseeable future). If you go to a private school, you will most likely need GradPlus or private loans. Gradplus are fixed at 8.5%. Private are variable, with some margin above the prime rate depending on your credit. It's best to go with all Stafford if you can. (So that it is fixed.)

 

[speedy3816]

Very good. Thanks guys!