Please advise me

[SoG]

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Hello my fellow students,

It's been a long-time struggle as to how I can achieve my goal of becoming a dentist without sacrificing my own family due to a potential financial burden.

The 4 years of study in dental school seems to be overwhelming, in terms of time and finance, to a 39-year-old with a non-working wife and two children. I have had passion and confidence in succeeding in any further academic studies. I have had a strong passion and heart to serve people as well.
However, my confidence and passion seem to get diluted when I begin to ask myself a question about the potential financial instability as to whether my goal sacrifaces the financial stability of my family during the school years. My family has big concern about loans/debt because I have to stop my current job once I am accepted.

For now I am thinking of not pursuing my further study due to potential financial burden I may get in dental school. I am trying to not make a wrong decision I may regret in the future. I feel I am lost in this regard.

I readlly wonder what financial options will be available and how easy it will be to get schlorship and financial support.
Can you please advise me?

Degree: B.S.
Pre-req GPA: 3.8 (Fall 2006 - Spring 208)
Science GPA: 3.8
DAT: not taken yet.

(note: i didn't apply to any schools yet due to this concern)
SoG

 

[SunShineDancer]

I cannot answer your question completely, but I can definitely relate. Although I do not have any children myself, I am married and have worked full time for over 4 years. We are used to having two incomes and I'm not sure how we could survive without. I am a little further away from applying than you are, so here are some of the things my husband and I have contemplated.

I plan to go to my state school which right in the same city that I live, therefore we will not need to move. As for income, I plan on creating a couple of passive income avenues over the next 2 years so that when I matriculate to d-school we should have a few hundred dollars coming in that will at least cover the expenses. We are also focusing on eliminating all of our debt which includes all of the cars, credit cards and loans, etc. We do not own a house and we plan to rent the entire time I am in school.

I would suggest your wife try and find some sort of income while you are in school. There are many options for stay at home moms these days. For example, she could be a nanny to a wealthy family, work as a virtual assistant from home, create an e-commerce website, tutor children, work for a day care where she could bring your kids with her for free, become a freelance writer, become a real estate agents, become a consultant of some kind. In addition to her finding some sort of employment, I would also suggest you work on eliminating your debt. Debt in itself is stressful already, add your studies in d-school and that's a combination for disaster. You need to have a clear head when you start. There are many debt consolidation company's around to help. You may want to think about selling your cars and working with one car, or sell some of your belongings on ebay to get cash, etc.

The key is you have options. If you set your mind to something, you can accomplish it. Plan and simple. You may have to take a year off to accomplish these tasks/goals, but imagine the payoff when you can truly focus in d-school and become an amazing dentist. You will look back at what you have come from and be a stronger person for it.

In my situation, I am putting off evening going back to undergrad to finish my degree. I am waiting until we have passive income streams and absolutely no debt. That way when I start undergrad, I can go full-time heavy course load and finish quicker. Even though I just want do it all RIGHT NOW!! 🙂 I realize it isn't possible, and am making sure all of my ducks are in a row before we proceed.

Good luck!! Remember, think positive. It will always help you few the situation in a new light!

 

[YayTeeth]

Hello,

Yes I can understand your frustration. Even broke single students at 21 right after undergrad question their dental dreams because of the financial burden. But if that is all that is holding you back you should still pursue it!

There are no poor dentists out there and if you can get into a state school your chances are even better. You may take out loans for $100,000 to $300,000 and I know that's a lot...but you will make it back in 10 years easily! Dentists nowadays earn $200,000...and then there are those oddball dentists who make over a $1,000,000 or I even know a fresh graduate at 28 making $500,000 doing general dentistry. It's different for everyone but if you are a good decision maker and a skilled dentist you will have no money issues later.

Yes the years at dental school with your family will be tough, but think about the long term and how much you will be doing for them in the future! Also, this is just my tidbit...but don't join the army/navy, etc. for the loans because you make more money over time not working for them and I'm a pacifist so I'm just against it all together. Good luck! Don't give up on your dream!

 

[Bruinlove]

There are many dental students in the same situation and most of them take out loans even for supporting their family. I know their debt will be relatively large at the end, but they still do it.

I think your best option is to rock DAT (get like 25+), receive scholarship from your state school, and ask you wife to have a day job while your children are at school. This way, you will probably end up with similar amount of debt with other dental graduates.

 

[Danny289]

There are many dental students in the same situation and most of them take out loans even for supporting their family. I know their debt will be relatively large at the end, but they still do it.

I think your best option is to rock DAT (get like 25+), receive scholarship from your state school, and ask you wife to have a day job while your children are at school. This way, you will probably end up with similar amount of debt with other dental graduates.

Not only you Ace your DAT, also you are a good adviser. I like that. 🙂

 

[TempleDMDKrazd]

I am not too sure but while you're in dental school you can take out private loans on top of your cost of attendance (Stafford + Grad Plus) if you're not too scared of being in debt. If you work after after you graduate you can easily pay it off.

Also, I don't think the military route is best for you since you're 39? Correct me if I am wrong someone.

Always remember...
If there is a will, then there is a way.