Penn vs Maryland (oos)

[specific_bird2326]

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Context: I am a non-trad student (i'm in my late 20s). I'm really interested in taking advantage of a lot of resources to be a great dentist and also potentially do more (such as engineering/research/public health). I will apply to NHSC, but that's no guarantee.

School 1: Penn (UPenn)
OOS
Pros:

• Non-trad student, which I feel is more common at Penn so I won't feel as old
• Bioengineering Masters dual degree (then could increase income potential by having a side consulting gig with a dental device company? not sure if that's a long shot, but that would be my dream to work as dentist 4 days, desk job as engineer 1 day a week)
• Potentially want to specialize (likely endo, so it would be later down the road)
• I have friends at other penn grad schools and in philly
• Resources/network at an Ivy
• no class on most fridays during D1
• no need to have a car

Cons:

• cost (~600k)- I am going to apply to NHSC, but obviously the chances of that are slim
• more competitive? there's no class rank but classes are graded and most students want to specialize

School 2: Maryland
OOS (potentially in-state though, and likely in-state after first year)
Pros:

• Cheaper if I get in-state tuition (otherwise it is more expensive)
• Closer to my DC friends
• slightly cheaper to travel home

Cons:

• still expensive lol (450-650k depending on residency)
• weaker clinical experience (from what I heard, I could be wrong)
• may need to have a car

Summary: I am excited to go to either school. Admittedly, I am more excited about Penn right now. I feel like I understand the opportunities better at Penn (probably just better marketing). I do feel I have a grasp of the financial implications of this decision (I've modeled how much I would likely take home after loans/taxes, and I have worked on a decent salary and understand how much I need to live).

 

[Pablo Sanchez]

I went to Penn and loved it but truth be told you will in all likelihood end up practicing as a dentist. I don’t know a single person who got a dual degree who is actively using that second degree. Everyone is practicing as a dentist in some form that would be attainable with or without the dual degree.

You also probably haven’t truly assessed the financial implications of this decision. Sure, you’ve looked at total debt and income and maybe even modeled out how much you’d owe per month for your loans. But have you looked at the investment potential of the cheaper option and how that compounds over time? Say one of the options ends up being $100k less. Have you modeled out how much more the total loan amount increases on the more expensive option with interest and how much the money would be worth to go to the cheaper option if you invest the difference? It adds up more than you know.

Go to the cheapest option. Limit your debt as much as you can. Hunker down and pay off your loans and invest aggressively while young. It doesn’t sound pretty, but you’ll be thanking me down the road.

 

[specific_bird2326]

I went to Penn and loved it but truth be told you will in all likelihood end up practicing as a dentist. I don’t know a single person who got a dual degree who is actively using that second degree. Everyone is practicing as a dentist in some form that would be attainable with or without the dual degree.

You also probably haven’t truly assessed the financial implications of this decision. Sure, you’ve looked at total debt and income and maybe even modeled out how much you’d owe per month for your loans. But have you looked at the investment potential of the cheaper option and how that compounds over time? Say one of the options ends up being $100k less. Have you modeled out how much more the total loan amount increases on the more expensive option with interest and how much the money would be worth to go to the cheaper option if you invest the difference? It adds up more than you know.

Go to the cheapest option. Limit your debt as much as you can. Hunker down and pay off your loans and invest aggressively while young. It doesn’t sound pretty, but you’ll be thanking me down the road.

Thank you so much for your input. I agree the opportunity cost and retirement/investment implications are rough. I initially didn't fully consider this because I am non-trad and I am already comfortably ahead of schedule for retirement (but I would much rather stay that way haha). I visited both schools, and I am 99% set on attending the cheaper option.

My only consideration now is I've heard some concerning things about Maryland's clinic and may need to do a GPR/AEGD before actually entering the workforce. So I have some fear in trying to pay off loans while doing a GPR. Hopefully I will have even more income potential after that to make up for it!

 

[Pablo Sanchez]

Thank you so much for your input. I agree the opportunity cost and retirement/investment implications are rough. I initially didn't fully consider this because I am non-trad and I am already comfortably ahead of schedule for retirement (but I would much rather stay that way haha). I visited both schools, and I am 99% set on attending the cheaper option.

My only consideration now is I've heard some concerning things about Maryland's clinic and may need to do a GPR/AEGD before actually entering the workforce. So I have some fear in trying to pay off loans while doing a GPR. Hopefully I will have even more income potential after that to make up for it!

You don’t need to do a GPR. You never need to do a GPR. You’ll learn more in one day of private practice than you will in four years of dental school or a GPR. Most GPRs suck. There are a minority of good ones out there that can teach you real skill, but it’s not that difficult to learn on the job and from CE and not give up a year of income.

 

[Big Time Hoosier]

Bioengineering Masters dual degree

And does UPenn charge additional tuition for that? I bet they do.

Big Hoss

 

[Pablo Sanchez]

And does UPenn charge additional tuition for that? I bet they do.

Big Hoss

They actually don’t. Or at least didn’t when I was there. The dual degree tuition was covered by the dental school. You went through an interview process within the dental school to get selected to do it.

 

[Mr.Smile12]

Yeah, Penn doesn't charge extra for the +Masters to the student. Other schools rely on "grant/internal funding" for adding a masters to the MD or DMD/DDS. I have to check, but I think it's the same agreement for the +JD or +MBA...

Specialty/residency programs, as you know, are a different story... 🙂