I am a freshman in college, and I was wondering about dental school student loans. My girlfriend tells me that I cannot rely on student loans to pay for all of my dental school. I am not going to have any money once i get done with undergrad, so how do I pay for all of my dental school, and how in the heck am I going to actually live? Can I use student loans to pay for a car, an apartment or house? I am a little worried. Thanks.
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Newbie ? Student Loans...
Started by Cofo
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Yes and no. The government and private lenders will surely give you the money you need so that you can pay for dental school, as they see this as "positive debt" (I'm still trying to become a believer). Anyways, using loan money to pay for a loan (such as a car) is usually not going to work. Most often you are given a certain amount that is sort of the standard for all students attending the school you will be attending (make sense?). Basically, the school has already figured out how much you are going to need for your 4 years (or 3, if you take the Pacific route).
However, and I thought about doing this myself, if you can come up with the money for a down payment on a house (usually a better investment than a condo) and your monthly payments are low enough so that you can use your student loan money to pay the mortgage then you can actually make money off your loan money. Use someone else's money to make some money. The hard part is coming up with the down payment (always a f-ing catch...)
Good luck!
P.S. You have a while before you really need to start thinking about this stuff. Worry about getting into "a" school first, then figure out a way to pay for the damn thing....
However, and I thought about doing this myself, if you can come up with the money for a down payment on a house (usually a better investment than a condo) and your monthly payments are low enough so that you can use your student loan money to pay the mortgage then you can actually make money off your loan money. Use someone else's money to make some money. The hard part is coming up with the down payment (always a f-ing catch...)
Good luck!
P.S. You have a while before you really need to start thinking about this stuff. Worry about getting into "a" school first, then figure out a way to pay for the damn thing....
The easiest way to say this is that your girlfriend was utterly and completely wrong.
The easiest way to say this is that your girlfriend was utterly and completely wrong.
sweet, now I can laugh at her and tell her that I, (the man) is right after all! MUAHWAHAWHAH....I AM ALL THAT IS MAN!...(the Ghostbuster dude isn't me...it is a googled pic)
Looks like someone's lacking compassion today.
I'm not that savvy with financial stuff either, but I have utter faith that the loans I'll get will get me through dental school. As long as you take the time and energy to apply for financial aid, they won't leave you in the dust to pay for everything out of your pocket.
I'm not that savvy with financial stuff either, but I have utter faith that the loans I'll get will get me through dental school. As long as you take the time and energy to apply for financial aid, they won't leave you in the dust to pay for everything out of your pocket.