When do I have to start paying back loans if I do a masters program to try to get into dental school

[Ollivander]

I'm currently considering doing a one-year SMP Master of Science at Iowa State if I don't get into dental school during the first time around. If I have to take out loans for that SMP, can I defer the payment of those loans until after I get through with dental school? Any help with this would be greatly appreciated!

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[sjv]

Repayment is deferred while in school and begins 6 months after you leave school. If you finish your program and enter dental school within that time then it will be deferred again since you are in school. If the period is greater than 6 months then you'll have to make some payments.

 

[Ollivander]

Repayment is deferred while in school and begins 6 months after you leave school. If you finish your program and enter dental school within that time then it will be deferred again since you are in school. If the period is greater than 6 months then you'll have to make some payments.

Let's say I finish up next spring with undergrad (Spring 2016) and enroll in the SMP in the fall (Fall 2016). Let's say I finish that SMP in the spring (Spring 2017). I would have to apply for the Fall of 2018's cycle correct? If that were the case, I would have to make some payments during that year, get accepted into dental school, then defer at that point or does it not work like that? That would be longer than 6 months, but I'd also be back in school after that year I'd have off and be applying. I'm just confused as to how so many people go straight from their SMP to dental school without having time off.

 

[sjv]

You can request deferment or forbearance (https://studentaid.ed.gov/repay-loans/deferment-forbearance#what-is-deferment) if you can't pay but interest will still accumulate so you're better off attempting to make payments.

Your loans will be automatically deferred while you are enrolled (Fall 2018 according to your plan) in school, not when you are accepted. You would have a bill come due 6 months after you finish your SMP and every month after until you enter dental school.

Let's say I finish up next spring with undergrad (Spring 2016) and enroll in the SMP in the fall (Fall 2016). Let's say I finish that SMP in the spring (Spring 2017). I would have to apply for the Fall of 2018's cycle correct? If that were the case, I would have to make some payments during that year, get accepted into dental school, then defer at that point or does it not work like that? That would be longer than 6 months, but I'd also be back in school after that year I'd have off and be applying. I'm just confused as to how so many people go straight from their SMP to dental school without having time off.

 

[Ollivander]

You can request deferment or forbearance (https://studentaid.ed.gov/repay-loans/deferment-forbearance#what-is-deferment) if you can't pay but interest will still accumulate so you're better off attempting to make payments.

Your loans will be automatically deferred while you are enrolled (Fall 2018 according to your plan) in school, not when you are accepted. You would have a bill come due 6 months after you finish your SMP and every month after until you enter dental school.

Thank you so much for this information! It was tremendously helpful. One more quick question in regards to the people who seem to go straight from a SMP to dental school. Are these people just applying with no posted grades from their SMP for dental schools to consider? Are they just banking on dental schools seeing the fact they're enrolled in a SMP and granting them an interview that could lead to an acceptance based on that?

 

[sjv]

Thank you so much for this information! It was tremendously helpful. One more quick question in regards to the people who seem to go straight from a SMP to dental school. Are these people just applying with no posted grades from their SMP for dental schools to consider? Are they just banking on dental schools seeing the fact they're enrolled in a SMP and granting them an interview that could lead to an acceptance based on that?

I'm not entirely familiar with that situation but I would assume what you said and hoping fall grades leads to a post-Dec interview OR they are enrolled in a 2 year SMP program thus having 1 year of grades already?

 

[Ollivander]

I'm not entirely familiar with that situation but I would assume what you said and hoping fall grades leads to a post-Dec interview OR they are enrolled in a 2 year SMP program thus having 1 year of grades already?

Many thanks! I'll keep searching to see if that's what they did indeed do. Again I appreciate you taking the time to inform me how loans work!

 

[shays]

Are these people just applying with no posted grades from their SMP for dental schools to consider? Are they just banking on dental schools seeing the fact they're enrolled in a SMP and granting them an interview that could lead to an acceptance based on that?

Yes to applying without any graduate school grades- Just adding that you were accepted to a master's program (emphasize the 1 year so they know you would have completed the master's degree before the start of dental school)

In my program: For some people with high undergrad GPAs (3.5+) they got interviews without any grad school grades and got accepted on Dec 1
For people with lower undergrad GPAs (3.5-) usually received post-Dec interviews after their Fall grad school grades were posted