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[FutureD25]

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[DocStranger]

Can anyone justify the ~$600k debt that Midwestern AZ will put dental students in? They have a great clinical program and many say its justified because no one will need a GPR/AEGD, but is the clinical strength and 100% graduation rate and ~100% boards pass rate enough to choose to go there?

Go any where you get accepted. If you don't have options, that is. Period. The only time this question should be brought up is when you're comparing the schools you got accepted to.

Also, I'd rather take a spot if I'm accepted than having to reapply. NOTE that this does NOT apply to if you're an applicant with strong stats and strong overall application . Then you'd realize it wouldn't be a smart decision to have even applied to a school with such high debt if you knew you had what it takes to get into a cheaper school.

 

[Big Time Hoosier]

Can anyone justify the ~$600k debt that Midwestern AZ will put dental students in?

Big Hoss

 

[DocStranger]

View attachment 314959

Big Hoss

I knew id catch you on this thread no cap

 

[deleted903013]

i wouldn't have felt comfortable going for more than 300k. 600k compounding from the second you take out the loan is more terrifying than you think. Tackling the interest alone would be difficult.

 

[DocStranger]

i wouldn't have felt comfortable going for more than 300k. 600k compounding from the second you take out the loan is more terrifying than you think. Tackling the interest alone would be difficult.

False to say with someone that has below average matriculation stats. I don't know where this applicant stands with his stats, but it'd be annoying to me to have such high stats and a strong application and only get in at one of the most expensive dental schools.

 

[FutureD25]

False to say with someone that has below average matriculation stats. I don't know where this applicant stands with his stats, but it'd be annoying to me to have such high stats and a strong application and only get in at one of the most expensive dental schools.

I pm'd you

 

[deleted903013]

False to say with someone that has below average matriculation stats. I don't know where this applicant stands with his stats, but it'd be annoying to me to have such high stats and a strong application and only get in at one of the most expensive dental schools.

Not exactly sure what your point is, but regardless of stats, 600k is way too much for dental school.

 

[DocStranger]

Not exactly sure what your point is, but regardless of stats, 600k is way too much for dental school.

Most private dental schools range from 400k+ regardless and sometimes applicants don't have cheaper options. That extra 200k isn't going to make or break you.

 

[VeNGe]

Not worth it. Even if its your only choice reapply. Imagine being a dentist and having to pay that off. No thank you. Gah lee gives me anxiety just thinking about it.

 

[axiumgod]

I’d say no unless you have a big scholarship or generous parents. It’s well worth the opportunity cost of reapplying at that price

 

[FutureD25]

Not worth it. Even if its your only choice reapply. Imagine being a dentist and having to pay that off. No thank you. Gah lee gives me anxiety just thinking about it.

If getting financial support from parents, and it’s my only acceptance, is it then worth it?

 

[FutureD25]

I’d say no unless you have a big scholarship or generous parents. It’s well worth the opportunity cost of reapplying at that price

Is it worth it if getting financial help from parents?

 

[2thDoc11]

I input some numbers into a loan summary site. I used $530K with an interest rate of 1.25(lowest possible IR for student loans from what I have seen?) Planned for a 30 year loan term and that puts it at $1766.23 a month. Interest accumulated was $105,844.21 for a grand total of $635,844.21. Bumping IR up to 3% just for fun puts you at $2,234.50 a month with a total interest accumulation of $274,420.50 for a grand total $804,420.50..

 

[axiumgod]

Is it worth it if getting financial help from parents?

If you/they are okay with them paying that much then I don’t see why not

 

[FutureD25]

I input some numbers into a loan summary site. I used $530K with an interest rate of 1.25(lowest possible IR for student loans from what I have seen?) Planned for a 30 year loan term and that puts it at $1766.23 a month. Interest accumulated was $105,844.21 for a grand total of $635,844.21. Bumping IR up to 3% just for fun puts you at $2,234.50 a month with a total interest accumulation of $274,420.50 for a grand total $804,420.50..

What loan summary site is this? Is this high cost much different than schools like Tufts, BU, NYU?

 

[2thDoc11]

What loan summary site is this? Is this high cost much different than schools like Tufts, BU, NYU?

I used this Amortization Calculator and other Financial Calculators - myAmortizationChart.com It is used for mortgage and loan repayment...I just googled dental school loan calculator and picked the first thing I saw..

 

[2TH MVR]

OP. Are your parents financially stable? I mean if they are well off .... then by all means .... go for it. But if they are not .... do you really want to jeopardize their future retirement. Are they co-signing for your student loans? Are they paying cash? Most parents probably do not know the actual costs of going to an expensive DS. Maybe they think you will be a rich dentist and can easily pay of your high DS debt.

I say this as a parent who is currently paying for my children's college expenses. Trust me. It affects me financially. Just be aware of your parent's financial situation before you enlist them in this future financial liability.

In the end. You'll have to make this decision. If you have spent any time here on sdn ... you would have already known what most of the responses would be.

 

[Likkriue]

Most private dental schools range from 400k+ regardless and sometimes applicants don't have cheaper options. That extra 200k isn't going to make or break you.

Spoken like a true predent. Hahahahahahha extra 200k is a drop in the bucket right??? Woooo this made my day.

 

[DocStranger]

I just don’t understand this whole financial situation. There’s thousands of applicants struggling to even get into a single school as is lmao. Anyone to even get into a single school regardless of the school should feel they completed their greatest achievement thus far, not feel financially burdened over the financial cost of their education.

 

[DocStranger]

Spoken like a true predent. Hahahahahahha extra 200k is a drop in the bucket right??? Woooo this made my day.

I’d rather pay 200k than take the risk of reapplying and not getting anywhere. The risks are too great...

 

[Likkriue]

I’d rather pay 200k than take the risk of reapplying and not getting anywhere. The risks are too great...

I would’ve just not went into dental school and went to nursing school/pa school/software programming. There is no way on planet earth I’m paying 600k to make an average of 150k a year. That is a 4:1 debt to income ratio. That is insanity.

 

[2thDoc11]

I would’ve just not went into dental school and went to nursing school/pa school/software programming. There is no way on planet earth I’m paying 600k to make an average of 150k a year. That is a 4:1 debt to income ratio. That is insanity.

What if your intentions are to specialize? Not all of us can be Aragorn King of Gondor

 

[Likkriue]

What if your intentions are to specialize?

That’s not guaranteed, many of the fourth years ahead of me didn’t match into their respective specialities.

 

[2thDoc11]

That’s not guaranteed, many of the fourth years ahead of me didn’t match into their respective specialities.

Where did you go?

 

[FutureD25]

@Likkriue is correct its a lot of debt. But not every dentist makes $150k a year and it all depends how you live, save your money and choose to pay off the debt. Clearly $600k is a lot and the cheaper school probably better, but there's a reason people still go to this school with multiple other options

 

[DocStranger]

I would’ve just not went into dental school and went to nursing school/pa school/software programming. There is no way on planet earth I’m paying 600k to make an average of 150k a year. That is a 4:1 debt to income ratio. That is insanity.

You make it seem as if every dentist graduating with that much debt will be considered living as an underserved. I don’t know a single dentist that hasn’t told me that they’re comfortable with their financial situation and job.

 

[Likkriue]

Where did you go?

I went to Stony brook.

 

[DocStranger]

I went to Stony brook.

Stony brook is a very competitive school. You have the stats for it and you should give yourself a pat on the back, but many of us don’t have such competitive stats.

 

[DocStranger]

I went to Stony brook.

 

[DocStranger]

$120,000 for dental school as resident.....you’re blessed

 

[Likkriue]

You make it seem as if every dentist graduating with that much debt will be considered living as an underserved. I don’t know a single dentist that hasn’t told me that they’re comfortable with their financial situation and job.

Really? During this pandemic I’ve met and talked to many worried graduates and practicing dentists. Owners and corporate. What happens when another pandemic comes along and you have a mountain of debt? Do you know the monthly interest payments over a 20 year on a 600k loan compounding at 5-6% interest?

Stony brook has quite a bit of hidden fees haha, so it’s actually closer to 55-60k ish tuition. Everything I’m writing is my opinion and in my perspective. I Definitey encourage doing research and seeing if certain schools give IS tuition after a year etc.

 

[DocStranger]

Really? During this pandemic I’ve met and talked to many worried graduates and practicing dentists. Owners and corporate. What happens when another pandemic comes along and you have a mountain of debt? Do you know the monthly interest payments over a 20 year on a 600k loan compounding at 5-6% interest?

I understand it’s going to be a hefty amount but what else do you suggest to someone with average matriculation stats? Also, you had the privilege of being a resident at NY (even if you didn’t, $240k for OOS....). That IS tuition for Stony brook....count that as a blessing because many of us don’t even get the option to attend a cheap public IS Dental school.

 

[BeggarsCantBeChoosers]

Go any where you get accepted. If you don't have options, that is. Period. The only time this question should be brought up is when you're comparing the schools you got accepted to.

Also, I'd rather take a spot if I'm accepted than having to reapply. NOTE that this does NOT apply to if you're an applicant with strong stats and strong overall application . Then you'd realize it wouldn't be a smart decision to have even applied to a school with such high debt if you knew you had what it takes to get into a cheaper school.

Don't listen to this predent. He doesn't understand the magnitude of the huge financial abyss you will be in with 600k. Study for a better DAT score, take more classes to boast GPA and reapply the next year. Work during the extra year to save up for living first year. 1 extra gap year isn't gonna break you but will save you decades of misery. My cutoff is 400k PERIOD

 

[deleted903013]

I understand it’s going to be a hefty amount but what else do you suggest to someone with average matriculation stats? Also, you had the privilege of being a resident at NY (even if you didn’t, $240k for OOS....). That IS tuition for Stony brook....count that as a blessing because many of us don’t even get the option to attend a cheap public IS Dental school.

If your only option is a school that costs 600k and you have average or low stats, I’d still say don’t go. 600k for this career makes absolutely no sense. People should stop applying to these ridiculously priced schools to avoid this dilemma.

 

[2thDoc11]

I understand it’s going to be a hefty amount but what else do you suggest to someone with average matriculation stats? Also, you had the privilege of being a resident at NY (even if you didn’t, $240k for OOS....). That IS tuition for Stony brook....count that as a blessing because many of us don’t even get the option to attend a cheap public IS Dental school.

Scholarship programs are always an option although never guaranteed.

 

[Ladm8]

If getting financial support from parents, and it’s my only acceptance, is it then worth it?

Yes definitely. I don't understand why every app season we have 'the MWU-AZ thread' while there are 8+ other dental school that charge more with weaker outcomes. The average cost these days, even at the "cheap" in-state schools is 300k+

 

[2thDoc11]

Yes definitely. I don't understand why every app season we have 'the MWU-AZ thread' while there are 8+ other dental school that charge more with weaker outcomes. The average cost these days, even at the "cheap" in-state schools is 300k+

I've noticed the general public prefers to have people tell them information rather then doing a simple google search. I'm in Dr. Romano's Facebook group and some of the questions are literally a google search away.

 

[TheBookCookout]

I input some numbers into a loan summary site. I used $530K with an interest rate of 1.25(lowest possible IR for student loans from what I have seen?) Planned for a 30 year loan term and that puts it at $1766.23 a month. Interest accumulated was $105,844.21 for a grand total of $635,844.21. Bumping IR up to 3% just for fun puts you at $2,234.50 a month with a total interest accumulation of $274,420.50 for a grand total $804,420.50..

Correct me if I'm wrong, but I thought interest rates for most loans typically sit around 7 percent? Assuming this were the case, you're looking at more than a million dollars overall for a dental school education. Doesn't seem completely worth it at that point IMO.

 

[2thDoc11]

Correct me if I'm wrong, but I thought interest rates for most loans typically sit around 7 percent? Assuming this were the case, you're looking at more than a million dollars overall for a dental school education. Doesn't seem completely worth it at that point IMO.

Yea sort of looks like it can range anywhere from 1.2 to 8%..I saw a fixed private rate can be up to 14% if the page is accurate...pretty nuts but I guess you really gotta go on the hunt for those low interest rate loans...

 

[TheBookCookout]

Yea sort of looks like it can range anywhere from 1.2 to 8%..I saw a fixed private rate can be up to 14% if the page is accurate...pretty nuts but I guess you really gotta go on the hunt for those low interest rate loans...

Oh yeah, I was just going off of federal loans. I've heard private can be a little more risky/difficult to pull off for that reason. I think the rates for those are pretty heavily dependent on your credit score too.

 

[axiumgod]

Correct me if I'm wrong, but I thought interest rates for most loans typically sit around 7 percent? Assuming this were the case, you're looking at more than a million dollars overall for a dental school education. Doesn't seem completely worth it at that point IMO.

Direct unsub is at 4.3% and direct plus is at 5.3%. Rates are low bc of corona right now

 

[frozenicecreamDMD]

take it from me as a newly grad working for 600$/day or later pay on collection with lower than expected patient flow due to covid, do yourself a favor and try to get into cheaper dental school, if the clinical skills at the dental school suck, work harder to make the best out of it and go GPR (get paid while continue learning).

I have half of that debt and I almost throw up seeing how much I have to pay back.

at 600k, and if you plan on doing repaye, don't count on it being a reality. government will try ways to deny you.

you have to also remember in real world they classify new grad dentist as the same regardless of what school you graduate from. If you luck out and can find a practice that test your skills comprehensively, good for you. but as a new grad dentists, its a struggle out there so don't think after you graduate dental school, the road is all pink and rosy.

 

[AONLINE]

take it from me as a newly grad working for 600$/day or later pay on collection with lower than expected patient flow due to covid, do yourself a favor and try to get into cheaper dental school, if the clinical skills at the dental school suck, work harder to make the best out of it and go GPR (get paid while continue learning).

I have half of that debt and I almost throw up seeing how much I have to pay back.

at 600k, and if you plan on doing repaye, don't count on it being a reality. government will try ways to deny you.

you have to also remember in real world they classify new grad dentist as the same regardless of what school you graduate from. If you luck out and can find a practice that test your skills comprehensively, good for you. but as a new grad dentists, its a struggle out there so don't think after you graduate dental school, the road is all pink and rosy.

Which state/area do you work at if you don't mind sharing? $600/day seems very decent for a new grad in the midst of the current pandemic.