Message from a D1 at "the #1 Dental School in the World"

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Hello SDN!

I am currently a D1 at the University of Michigan SOD and as December 1st is approaching I just wanted to give you a few pieces of advice.

1). The best dental school is the one that accepts/wants you! Don't beat yourself up because you didn't get into your "top choice".
2). I know it is said here all the time, but it is true, GO TO THE CHEAPEST SCHOOL!!!
3). Rankings mean nothing when it comes to the quality of your education or your skill level as a clinician. No matter what school you go to, if you put in the work you will become a great dentist. Also, no matter what school you go to if you don't put in the work you are going to have a bad time...

Just my two cents!

If anyone has any questions about U of M or my (limited) experience I would love to share.
 
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queenki

queenki

Dec 21, 2017
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Congrats for surviving your first semester.
Could you please educate future D students on financial aspects? like how FAFSA works, what strategy you took to minimize debt, any usual idea. application steps ...

I have no idea how all this works. If there is any great educational website, please refer me...
 
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SmileItsLife

2+ Year Member
Jan 4, 2017
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queenki said:
Congrats for surviving your first semester.
Could you please educate future D students on financial aspects? like how FAFSA works, what strategy you took to minimize debt, any usual idea. application steps ...

I have no idea how all this works. If there is any great educational website, please refer me...
Click to expand...

This 2 minute video is made by FAFSA if you want a general overview. I actually found it quite helpful.
 
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deleted735879

queenki said:
Congrats for surviving your first semester.
Could you please educate future D students on financial aspects? like how FAFSA works, what strategy you took to minimize debt, any usual idea. application steps ...

I have no idea how all this works. If there is any great educational website, please refer me...
Click to expand...
I do not think I am the best resource for explaining how all the financial aspects work. Realistically all that matters is FAFSA. You are going to fill that out will all your personal information and the school where the money needs to be sent. After a few months, you will be notified (by the school through your student account) that you have been approved for an amount of money which will (for me at least) cover tuition and living expenses - in Ann Arbour, we get a little over $2,000 per month for living expenses. In terms of minimizing debt the biggest thing you can do is going to the cheapest school. This has the potential to save hundreds of thousands of dollars. Other things I do are apply to a few random scholarships for a couple thousand a semester and not buying books - which saves a few hundred bucks.

Hope that helps a little. School websites will have more information on specific financial aid stuff and feel free to email the financial aid director/office at any school you interviewed at. At least at Michigan they are super helpful and nice!
 
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queenki

queenki

Dec 21, 2017
241
148
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Pre-Dental
miispr said:
I do not think I am the best resource for explaining how all the financial aspects work. Realistically all that matters is FAFSA. You are going to fill that out will all your personal information and the school where the money needs to be sent. After a few months, you will be notified (by the school through your student account) that you have been approved for an amount of money which will (for me at least) cover tuition and living expenses - in Ann Arbour, we get a little over $2,000 per month for living expenses. In terms of minimizing debt the biggest thing you can do is going to the cheapest school. This has the potential to save hundreds of thousands of dollars. Other things I do are apply to a few random scholarships for a couple thousand a semester and not buying books - which saves a few hundred bucks.

Hope that helps a little. School websites will have more information on specific financial aid stuff and feel free to email the financial aid director/office at any school you interviewed at. At least at Michigan they are super helpful and nice!
Click to expand...
I see. Thanks!
for the living expenses, I heard you don't have to take the full amount that you are allowed to take.
when do you fix amount of money that you actually want to use every month?

I need to figure out who gets how much for subsidized loan and who gets unsubsidized loans...

I am new to a loan world, excuse my lack of knowledge...
 
artist2022

artist2022

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queenki said:
I need to figure out who gets how much for subsidized loan and who gets unsubsidized loans...
Click to expand...
Professional/graduate students are not eligible for federal subsidized loans- these are only for undergrads (the program for professional/graduate students was phased out a few years ago). So, we only get unsubsidized federal loans, which accumulate interest (6-7%) when you're in school. Some schools have their own loans, some of which are subsidized but the amounts are very small (like $3k/year). So, most students will take out these federal loans with crazy high interest rates, unless they have other means of paying (Military/Navy/AF, NHSC, family, scholarships). Use this website to learn about the different types of loans and how to fill your FAFSA out: https://studentaid.ed.gov/sa/
 
queenki

queenki

Dec 21, 2017
241
148
Status
Pre-Dental
artist2022 said:
Professional/graduate students are not eligible for federal subsidized loans- these are only for undergrads (the program for professional/graduate students was phased out a few years ago). So, we only get unsubsidized federal loans, which accumulate interest (6-7%) when you're in school. Some schools have their own loans, some of which are subsidized but the amounts are very small (like $3k/year). So, most students will take out these federal loans with crazy high interest rates, unless they have other means of paying (Military/Navy/AF, NHSC, family, scholarships). Use this website to learn about the different types of loans and how to fill your FAFSA out: https://studentaid.ed.gov/sa/
Click to expand...
OMG WHY!!!! ;( paying crazy interests WHILE in 4 year school sound CRAZY for school loans!!!! WHY!!! gosh.
Does anyone's parent gets loan for child? If they can get cheaper rates? (through their house or whatever.)
7% sound crazy.
 
knewstance

knewstance

2+ Year Member
Jun 19, 2016
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400
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queenki said:
OMG WHY!!!! ;( paying crazy interests WHILE in 4 year school sound CRAZY for school loans!!!! WHY!!! gosh.
Does anyone's parent gets loan for child? If they can get cheaper rates? (through their house or whatever.)
7% sound crazy.
Click to expand...
7% may sound crazy but in reality it is a good interest rate for an unsecured loan for a person that has limited credit history or even poor credit history. It sucks because it adds up to a lot of money but there is no way to get a lower interest rate for such a high amount and a long term payback.

Even most people's parents would not be able to get much better than 7% for $100k+ unsecured unless they applied some kind of collateral (ie a second mortgage on their house).

If you were to only borrow a few $10k it would be possible to get a lower rate or have parents get a better rate but then you are very limited on your payback terms.

Another note: loans in the real world accumulate interest from the date of inception - the bank lends the money, you pay the interest.
 
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princeafrica

princeafrica

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Dec 7, 2017
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GoDental101 said:
:bullcrap:

Found this on Michigan's website...Anyone else surprised? I'm all for feminism, but refusing to treat someone based on their gender seems quite unethical.
Click to expand...
Did you really made a SDN account to post about something from 1914.....lol
No one is surprised. Segregation was also legal during that time.

If I told you Michael Jordan is the GOAT, you'd probably tell me he got cut from HS varsity team.
 
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