- Joined
- Jun 14, 2008
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My question:
People are saying that the average dental student will be in debt for 20-30 years with, lets say, 250k of debt.
Well lets say your making 80k a year when your out of dental school. What if your making 5,000$ payments every month, for the first few years... thats 60k a year. You would have your debt payed off in 4 years.
Or atleast 3-4K a month. I know what your thinking, if your making 80k, and giving away 60k, you only have 20k to live. But, if your living with your relatives or your parents for the first few years or something, i think i could make something like that work out. Or even living with my brother and my cousin, and just spending very little for those first few years, to eliminate a huge portion of my debt
Idk, any thought. I don't want to be in debt for 20-30 years. I'd rather starve myself for the first few years, pay off most/all of the debt, and then, do my thing...
Thoughts?
I'm not completely sure where you heard 20-30 years. I know most schools I've seen seem to look at loans in the 10-15 year range, but the majority being 10 years. I could be wrong, but I think that is a pretty common time frame to shoot for.
You're definitely correct though when it comes to paying it off: every person is going to be different. Some people will go out right away and blow a ton of money on nice things, while some will be content with keeping things simple until loans are paid off.