this makes me really scared...
http://finance.yahoo.com/college-ed...dent-loan-burden?mod=edu-continuing_education
http://finance.yahoo.com/college-ed...dent-loan-burden?mod=edu-continuing_education
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ugh...
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lol I was just reading that a couple hours ago! Its really not too far off of what most of us are going to owe at any big private dental school like USC, NYU, Tufts, DAMN!!🙁
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Omg. Crossing my fingers that UW accepts me and so I can pay in state tuition......
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The only reason she is in that current situation is that she cannot afford to pay $1000 a month for her loans. Honestly, I do not know how that is possible? You can't live like a doctor right out of MED school.
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This should be in the "must read" for every ds applicant who needs to finance his/her education.
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Makes me wish I was an Alabama resident and atteniding UAB...
Just don't miss a payment and you will be fine.
"The entire balance of her federal loans will be paid off in 351 months. Dr. Bisutti will be 70 years old."
Thats scary. Bottom line should probably be to go to the cheapest school!
Thats scary. Bottom line should probably be to go to the cheapest school!
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This should not worry you. That doctor made poor financial decisions
She had a $1000/month student repayment..that is really not that bad.
There's no reason why you should miss a payment. The loan repayment should be first priority every month.
Plus she maxed out her student loans, took out private loans on top of that, AND maxed out her credit card.
There is no reason for someone to take out private loans for medical/dental school when the federal plus will cover you completely after the stafford is used.
I don't see how someone who I assume to be smart could put themself in such a situation. She was either a spendthrift for 4 years OR life through her a few curve balls over the 4 years and she needed money.
I think she was most likely a spendthrift.
She had a $1000/month student repayment..that is really not that bad.
There's no reason why you should miss a payment. The loan repayment should be first priority every month.
Plus she maxed out her student loans, took out private loans on top of that, AND maxed out her credit card.
There is no reason for someone to take out private loans for medical/dental school when the federal plus will cover you completely after the stafford is used.
I don't see how someone who I assume to be smart could put themself in such a situation. She was either a spendthrift for 4 years OR life through her a few curve balls over the 4 years and she needed money.
I think she was most likely a spendthrift.
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amen rider.
I've fallen into outright sucking up to Kathy lately lol
I've fallen into outright sucking up to Kathy lately lol
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Your bacon is being saved by taxpayers.
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Your point is...?
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Feel free to fill in the blanks you are looking for.
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I really have no idea what you meant by that comment. I wouldn't have asked otherwise.
Are you trying to make him feel guilty? More appreciative? Are you angry that your money is going towards his education?
Feel free to fill in the blanks that I may have missed...
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You appear determined to find some subliminal message in the response. Good luck.
lol...id rather pay taxes for the GI bill to create incentives for those more academically inclined to join our armed forces and create a more intellectual military backbone than pay taxes for universal healthcare programs for people to mooch off of just like wellfare, etc (not saying this programs dont help some the really do NEED them, but many people do take advantage of them!)...my 2cents
^^^republican^^^😀
p.s. - bacon is good
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lol, not that I do not agree with you, but...you just opened up a flame war. Someone is going to respond to that and there's going to be 100 posts on this by tommorow..lol 😱
OUR BACON IS BEING SAVED BY HIS SERVICE TO OUR COUNTRY!!!!
God Bless the men and women who serve our country. I will gladly use my tax money to pay for our service men and women to further their educations. They have earned it.
Thanks for the shoutout! I am furthering my baseballjunkieism by a quick trip to AZ for spring training! See you at the meet and greet next month!
amen
eshhh...your probably right...i dont enjoy controversy, but on this topic i stand firm
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Not a subliminal message, just the message. Didn't they teach you in elementary school to always search for the author's intent?
I should have known better, though. You're always good for some sarcastic/condescending comments because....well, here we go again. I have no idea why. Seems like I'm stuck.
omg that's crazy. i hope you're right biomajor. i am curious to know how she was spending her money to not be able to make a payment. but i also think the lenders are quick to take advantage of people. i'm going to have to use loans to pay for pretty much all of dental school. i'm not made of money. I'm looking into the NHSC and the navy scholarship too. anyone else know other programs out there that will pay for school as long as you work for them a couple years? i think there is a program with the native american reservations as well.
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Umm............ I dont understand why some people are worried....
Let say... you take loan on all of your d-school and you want to do residency thats ~400k+ easily... RIGHT... lets say you get ill and you had to take more loan... you will be along the lines of that lady.
like a lot of people say it takes money to make money. if you just take meager 20-30k loan and do masters thats what you are going to earn ~50-100k.
if you go to undergrad and take no loans u will make 30-55k...
BUT IF you go to DENTAL SCHOOL OR MEDICAL school the potential of earning well over 200k will be there faster may be like 2+ years after practice than getting masters or bachelors w/ more than 10-20+ years experience. + job security is worth more than anything...
If you got into dental school dont worry about this shi* people are just trying to scare you. Obviously make smart money decisions like have health insurance from school etc... so little things like that dont drive you into debt.
If you believe in yourself why not invest that money... no brainer
Let say... you take loan on all of your d-school and you want to do residency thats ~400k+ easily... RIGHT... lets say you get ill and you had to take more loan... you will be along the lines of that lady.
like a lot of people say it takes money to make money. if you just take meager 20-30k loan and do masters thats what you are going to earn ~50-100k.
if you go to undergrad and take no loans u will make 30-55k...
BUT IF you go to DENTAL SCHOOL OR MEDICAL school the potential of earning well over 200k will be there faster may be like 2+ years after practice than getting masters or bachelors w/ more than 10-20+ years experience. + job security is worth more than anything...
If you got into dental school dont worry about this shi* people are just trying to scare you. Obviously make smart money decisions like have health insurance from school etc... so little things like that dont drive you into debt.
If you believe in yourself why not invest that money... no brainer
That's right! You ever think about the start-up costs of a practice, maintenance costs of a practice, costs of maybe buying a practice, or a mortgage on a home...ON TOP of school loans? Your analogy of loans on types of education versus expected pay are numbers pulled out of your backside. I think your perspective is looking through VERY rose-colored lenses...err loupes!
To be perfectly frank, your greatest earning potential versus dollar spent on education would be law school or MBA.
the articles ive seen backing this up tend to only take into account the top programs or means of all programs (which are extremely skewed due to the earnings of top 20s)...go to ur local graduate school and the earning potential is generally MUCH lower
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agreed. even HBS MBA's on the avg dont make 500K+ or something, and even if they make 200K, they are working a ton of hours, dents is a much better bet in terms of lifestyle. even if you make less, atleast you'll have a life. happiness is a product of time and money to some extent. time being worth more than money.
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ohh yeah my bad i forgot about all those....
EXCEPT THE FACT THAT DO YOU SEE ANY F_)k1* dentists broke... or fired or laid off. No dont tell me the shi- that you heard from some one that this dentist are broke. Even w/ the recession I still see them making money in my state... AND BTW have you ever though of the younger dentists ~34-38 OWNING THEIR OWN PRACTICE AND HAVING TONS OF CLIENTS.
K first of all MBA you need to get it from a good school you cant just get in DEVRY to Start making money... and law school you have to go to a good one in order to get a nice paying job. but health care field will always be there. Stop trying to get people scared...
lol...unclear but i think i got the gist of this
OK, I think I was able to sift through this gibberish and get to your point. My original comment was in response to your flippant ideals on earning potential versus debt, and how a 400k loan should not be a concern. I am sorry...I have paid BIG-BOY bills (house, car, life things, etc. )for the last decade plus and a 400k loan is not an optimal way to start your career, especially when you add all the other loans you will need for your practice. I honestly have no idea how much it costs to start a practice, but when added to a home mortgage and "measly" 400k D School debt, you are probably staring at 7 figures in the hole. I know they are on different calculators, but a thumbrule for amortized mortgages is $700/mo per 100k borrowed. 7 figures = $7000/mo.
BTW...life lesson...just because someone (dentist perhaps) has a nice car, nice house, nice lifestyle DOES NOT mean they have money. Often people who feel they have earned the right to a certain lifestyle live the life without having the dough to back it up because of things like being 7 figures in the hole. They live outside the margins of sound finances because of the image.
To address MBA/JD...my comment was in reference to "earning potential," and not avg salary. Your ceiling is MUCH higher with those degrees than D School; however, the AVG DDS/DMD will make more (especially on an hourly scale) than your AVG MBA/JD. I also know dozens and dozens of people from "lesser" MBA/JD programs who are in excess of 250k/yr earners.
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Also...not trying to scare people, but rather dispel any notions of massive debt not being a big deal. It is easy to think so when you are young and still under the blanket of undergrad, but extremely large debt WILL become an issue when you want to eat something other than spaghetti and live somewhere other than a 1BR.
I think if you were to do some serious digging, you would find several people like the woman in the article Kneecoal posted.
I think if you were to do some serious digging, you would find several people like the woman in the article Kneecoal posted.
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Hmm....unless you are tops of your law school, lots of lawyers struggle in very competitive markets. I think dentistry has it better.
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Ok fine you can only pursue dentistry. We wont pursue it anymore b/c the costs are too high. Might as well tell all the stock people stop investing in stocks the risks are too high.
everyone lets become mbas and lawers. and lets hit up devry.
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I don't think it's a good thing to be pessimistic about our chosen field.
I mean, yes, facing hard-numbers from these nightmare stories, the price of dental education is daunting, but, nobody need remind us!
I don't think it's necessary to direct our attention so much to the potential for money making, or even say to get an MBA or go to Law school; if you were as much as a student of those as dental students, you would
find out, the grass isn't greener there.
Guys and gals, let's not get carried away with the financial aspects every time a negative situation is made public. The media, after all, thrives on publicity.
Chances are, the overwhelming majority of us will, as history indicates, turn out to be fiscally sound dentists.
I mean, yes, facing hard-numbers from these nightmare stories, the price of dental education is daunting, but, nobody need remind us!
I don't think it's necessary to direct our attention so much to the potential for money making, or even say to get an MBA or go to Law school; if you were as much as a student of those as dental students, you would
find out, the grass isn't greener there.
Guys and gals, let's not get carried away with the financial aspects every time a negative situation is made public. The media, after all, thrives on publicity.
Chances are, the overwhelming majority of us will, as history indicates, turn out to be fiscally sound dentists.
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Ok fine you can only pursue dentistry. We wont pursue it anymore b/c the costs are too high. Might as well tell all the stock people stop investing in stocks the risks are too high.
everyone lets become mbas and lawers. and lets hit up devry.
Pretty sure subdoc is not saying everyone should become "mbas and lawers". Just because YOU don't think that loans and money will ever be a problem doesn't mean people shouldn't take loans seriously.
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this article can be summarized in two words: financial mismanagement.
look at all the indicators in the story. this doc clearly screwed up financially along the way, and on more than one occasion.
look at all the indicators in the story. this doc clearly screwed up financially along the way, and on more than one occasion.
MBA/JD comment...i think its possible to look at this in two different ways...you could look at net income, which would probably make this statement correct but then again its possible for many dentists to open more than one practice and turn into a business-person...in this case, there is no ceiling
also, when you look at $$ per hour, dentists are extremely competitive...i mean who wants to make 500k a year if they dont have any time to spend it or any time to spend with their family
oh and the comment about people living outside their means...SPOT ON...i hate that because ive grown up watching my parents struggle in and out of debt because they cant give up the things they cant afford
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I wouldnt panic and run to join the military or indian health service just from this article. The majority of dentists go into private practice after school and have no problem paying the loans back. If it was difficult to pay loans back, no one would be going into dental school.
For the military you are commiting more time than they advertise and although financially it may seem better for the first few years, you most likely won't be doing anything more than drill and fill and you risk not building up your skills (but that is another topic).
Anyway you can not compare this profession to anyone with an MBA, especially in this economy where an MBA is a dime a dozen an no one has work. Those who do have work can lose it at the drop of a corporate downsize.
AND I was just reading an article about lawyers that said there are more students in law school now then there are practicing lawyers. Talk about competition (and crazy hours which dentists don't have)
ok thats just absurd...there are >1 million lawyers in the U.S....i dont think its even feasible to think that there are that many law students and certainly not all of them seek to practice as a lawyer (many j.d. degrees are to further business careers)
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Okay, Biomajorpredent wins this thread. Finally there is something clear and without bias, not being an emotional struggle, nor is it needless diatribe.
More importantly, this is the attitude one should possess for dental school that won't break you half-way through or before you even start.
What's the big deal with money? You guys make it obvious you're in this for that reason so much here. One lady who made financial blunders now has to pay for it. How does that surprise anyone?
Also, this thread went to hell when somebody started comparing dentistry with MBA's and JD's - that was absolutely unnecessary and a frivolous, insidious insertion that leads to a flame war.
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i dont think its fair to criticize people for wanting to make sure of their financial future...money is a very important consideration for any job or profession...you have to think not only of yourself, but for your family...dentistry is a profession that provides lifestyle, job and financial security, and possible job satisfaction...that is why it is so competitive...sure you are doing yourself a disservice if you are in it strictly for the comfortable salary, but lets be honest when we talk about interesting aspects of the profession. some people find themselves lucky enough to enjoy their work as a dentist, but i would bet that the majority of professionals do not enjoy their work; they do it for the pay check, plain and simple.
so for dentistry
money = +
job security = +
job satisfaction = up to you
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Haha I tried to find the info about the law student stuff, now that I think more about it, it probably was a stretch.
People should not be flamed on these boards for asking about earning potential. Nobody should respond to them by saying "get accepted to dental school first"
Anyway, I would say that if the income for dentists was capped at 100k or had an average of 60k a year, there would be no competition to get into dental school.
The fact is that this is a lucrative profession, if you are capable and have a business sense.
Here is the ugly truth for most people (myself included) whether or not they will admit it to themselves:
People believe that a career in medicine equals respect, a good job, and money
I would bet most people who end up in dental school considered medical school at one point in their life
Today, especially with the insurance and impending government regulation, dentistry is the new medicine
Hence, it is very very competitive to get into dental school
Remember, at the end of the day, it is just another job.
I know someone who reads this will get offended, so this is for you: Of course this does not apply to everyone, but I would personally bet it applies to the vast majority of people.
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Seriously, bravo! I think a lot of people like to sugar coat it to make themselves feel better or to be on a high horse.
Yep!
