Specializing and $700k debt

[klent1]

I want to specialize but I have close to $450k in student loans from dental school. The Endo programs I plan on applying to essentially have no programs that offer stipends, so I'll have to pay $100k each year for two years if I get into one. Being $700k in debt is obviously no easy burden, and as of right now the only way I can reasonably pay off my debt is with the 25 year REPAYE plan.

Obviously this hasn't deterred people from specializing. So for those who are applying to, in, or finished endo, prosth, or ortho residency or any program that required you to pay, how did you manage to pay for the estimated $650k needed to become a specialist? Were you fortunate enough to have parents who chipped in, or did the military pay for your dental school attendance? It just seems like if you come from a background like mine, where I have to borrow everything to pay for dental school, it's hard to specialize. Just trying to get a sense of whether I'm the only one out there with this situation. Obviously a lot of people here are planning to specialize, so your honest feedback would be greatly appreciated, thanks!

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[personalstatementsbyeric]

I want to specialize but I have close to $450k in student loans from dental school. The Endo programs I plan on applying to essentially have no programs that offer stipends, so I'll have to pay $100k each year for two years if I get into one. Being $700k in debt is obviously no easy burden, and as of right now the only way I can reasonably pay off my debt is with the 25 year REPAYE plan.

Obviously this hasn't deterred people from specializing. So for those who are applying to, in, or finished endo, prosth, or ortho residency or any program that required you to pay, how did you manage to pay for the estimated $650k needed to become a specialist? Were you fortunate enough to have parents who chipped in, or did the military pay for your dental school attendance? It just seems like if you come from a background like mine, where I have to borrow everything to pay for dental school, it's hard to specialize. Just trying to get a sense of whether I'm the only one out there with this situation. Obviously a lot of people here are planning to specialize, so your honest feedback would be greatly appreciated, thanks!

Such a good question...

 

[Big Time Hoosier]

That would make me think twice about specializing. I can't imagine being that far indebted before I even touched a patient. I almost hate to ask, did you get into a cheaper dental school but chose a pricey school because of its "name?" If so, let this be a cautionary tale to those that follow. Also, that background of yours having to borrow yourself to pay for school? Yeah, that's most people. So, end that pity party.

Big Hoss

 

[ElenaDDS]

I want to specialize but I have close to $450k in student loans from dental school. The Endo programs I plan on applying to essentially have no programs that offer stipends, so I'll have to pay $100k each year for two years if I get into one. Being $700k in debt is obviously no easy burden, and as of right now the only way I can reasonably pay off my debt is with the 25 year REPAYE plan.

Obviously this hasn't deterred people from specializing. So for those who are applying to, in, or finished endo, prosth, or ortho residency or any program that required you to pay, how did you manage to pay for the estimated $650k needed to become a specialist? Were you fortunate enough to have parents who chipped in, or did the military pay for your dental school attendance? It just seems like if you come from a background like mine, where I have to borrow everything to pay for dental school, it's hard to specialize. Just trying to get a sense of whether I'm the only one out there with this situation. Obviously a lot of people here are planning to specialize, so your honest feedback would be greatly appreciated, thanks!

Do not apply to programs that charge 100K a year. Tufts , UPenn , Columbia forget about those. Work for a year or do a GPR and then reapply to the VA or the ones that pay or charge lower tuition. You get the endo certificate either way. But think of how you want to live!

 

[ElectraOnAzalea]

This would definitely deter me from specializing. If I was dead set on it, I would practice for a few years and save absolutely everything possible and put a good chunk towards your loans and a good chunk towards living expenses while in residency and only apply to programs with a stipend.

 

[JakeSill]

This would definitely deter me from specializing. If I was dead set on it, I would practice for a few years and save absolutely everything possible and put a good chunk towards your loans and a good chunk towards living expenses while in residency and only apply to programs with a stipend.

is it harder to get into residency when you've practiced for a couple years?

 

[ALTOSS]

This would definitely deter me from specializing. If I was dead set on it, I would practice for a few years and save absolutely everything possible and put a good chunk towards your loans and a good chunk towards living expenses while in residency and only apply to programs with a stipend.

Working as a GP to save money for residency is certainly one idea. However I would specialize as soon as practicable, so long as you like the field. Financially specialists generally do better, and the rate of income earned/repayment would be much faster. As a GP, I realize it is simply impossible to be an expert in all facets of dentistry. I think I would have a better chance in one area, even though I feel I would be just as well off as a GP financially. Endo programs that have either no tuition or pay stipends tend to be extremely competitive compared to other programs, so unless your stats are exceptional, it would be a tough bet. The application process itself is very expensive, and you wouldn't want to risk yourself by only applying to competitive programs. - my two cents!

 

[ElenaDDS]

Working as a GP to save money for residency is certainly one idea. However I would specialize as soon as practicable, so long as you like the field. Financially specialists generally do better, and the rate of income earned/repayment would be much faster. As a GP, I realize it is simply impossible to be an expert in all facets of dentistry. I think I would have a better chance in one area, even though I feel I would be just as well off as a GP financially. Endo programs that have either no tuition or pay stipends tend to be extremely competitive compared to other programs, so unless your stats are exceptional, it would be a tough bet. The application process itself is very expensive, and you wouldn't want to risk yourself by only applying to competitive programs. - my two cents!

Good advice. But the application fees are a drop in the bucket compared to one year @ Tufts. I agree that the paid endos are tough.