Your estimated indebtness?

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How much debt do you plan on being in?

  • 0-50,000

  • 50,001-100,000

  • 100,001-200,000

  • 200,001-250,000

  • 250,001-300,000

  • 300,001-350,000

  • 350,001-400,000

  • 400,001-500,000

  • 500,000+

Results are only viewable after voting.
Dr.Payne

Dr.Payne

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  1. Pre-Dental
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How much debt do you plan on being in after dental school?

For me about 230,000 assuming I don't get the NHSC scholarship.

EDIT: I realized I failed to maintain the 50,000 increments from 100,000-200,000
 
Last edited:
Probably in the low 200s if I'm lucky enough to get into my state school.
 
The real 007 said:
I'm estimating less than 100k due to Baylor's cheap tuition and my families willing to take care of my room and board by buying me a house.
Click to expand...
Its crazy how much of a difference the first 10 years of your practicing life will be because of this
 
molarmom said:
Its crazy how much of a difference the first 10 years of your practicing life will be because of this
Click to expand...
I know it! I am so grateful that my parents are doing this. My Dad does real estate on the side so he's making this into an investment opportunity. With this help I could potentially open up my own practice within two years of graduation and pay off any small loans.
 
The real 007 said:
I know it! I am so grateful that my parents are doing this. My Dad does real estate on the side so he's making this into an investment opportunity. With this help I could potentially open up my own practice within two years of graduation and pay off any small loans.
Click to expand...

You got this in the bag.
Are you thinking about getting into real estate too?

With your low student debt, you could set yourself up very well with multiple 4-plexes (I believe banks provide up to four loans at a time for real estate investing).

If you jump into practice ownership + establish four 4-plexes (16 units total), your life is set.
 
voted zero, just to see results
 
Really shocked to see so many 250k and below
Are the pre-dents voting assuming they will get into state schools or do all yall have rich parents or something
 
cacazor said:
Really shocked to see so many 250k and below
Are the pre-dents voting assuming they will get into state schools or do all yall have rich parents or something
Click to expand...

My guess is that since the ones that are voting are on SDN forums, they've read enough from these forums to know which school will ultimately benefit their future most. Proactive and smart kids I'd like to believe.
 
The real 007 said:
I know it! I am so grateful that my parents are doing this. My Dad does real estate on the side so he's making this into an investment opportunity. With this help I could potentially open up my own practice within two years of graduation and pay off any small loans.
Click to expand...

My parents are considering doing the same. It will depend on where I end up going and what the market is like, but they figure with a dental, and possibly other professional schools, nearby, getting good tenants won't be an issue down the road. I know they've talked about getting a 3 bedroom house because finding 3 bedroom rentals anywhere is very difficult and with married students especially, it would be attractive.

As for my debt, who knows at this point but I'm planning on 400K right now and hopefully it will not be that much.
 
ajj70 said:
My parents are considering doing the same. It will depend on where I end up going and what the market is like, but they figure with a dental, and possibly other professional schools, nearby, getting good tenants won't be an issue down the road. I know they've talked about getting a 3 bedroom house because finding 3 bedroom rentals anywhere is very difficult and with married students especially, it would be attractive.

As for my debt, who knows at this point but I'm planning on 400K right now and hopefully it will not be that much.
Click to expand...

I would recommend this to everyone thats parents have the means. We did this for my college education as well, I'm debt free because of no room and board. All I had to do is buy my own furniture and pay the water and electricity bill which is only like 20 bucks each for one person. My dad also sold part of the property and made a small profit for his initial investment.
Parents don't have to loss money to help you lower your debt. You take care of tuition and they make a four year investment on a property that the has potential to make a return.
 
Predents also need to consider how much tuition will increase by the time we're there. I'm porbably two years from matriculation, and that mans 6 years from graduating. When I'm in fourth year of D school, tuition may be significant;y higher.
 
Who are the people that voted 500k +? How? (most expensive I've seen is 110k per year)
 
From everything I've seen if you're going to a state school expect around 250k +/- 50k and for an out of state student or private school expect around 400k +/- 50k.

I don't have rich parents so my school is 100% on me. Even with using my own savings I'd be looking at around 400k total with interest, fortunately I got the NHSC scholarship so I'll be debt free and actually have extra money in my bank when I graduate.

After running the numbers all I can say is I dodge a huge financial bullet!
 
The real 007 said:
I would recommend this to everyone thats parents have the means. We did this for my college education as well, I'm debt free because of no room and board. All I had to do is buy my own furniture and pay the water and electricity bill which is only like 20 bucks each for one person. My dad also sold part of the property and made a small profit for his initial investment.
Parents don't have to loss money to help you lower your debt. You take care of tuition and they make a four year investment on a property that the has potential to make a return.
Click to expand...

I'm debt free because of scholarships 🙂. I know they briefly looked at rental properties in my college town but everyone lives on campus so it's not really worth it for them, plus, renting to 'college kids' just isn't that great.

studentdental8 said:
Who are the people that voted 500k +? How? (most expensive I've seen is 110k per year)
Click to expand...

110K for what? Tuition alone? Most of us are taking loans for living costs and such too. Realistically, I might be looking at 500K too, who knows. Hopefully I get into my state school or one that gives in-state after a year but if my only option comes down to a private school, 400-500K is what it will be--add in interest and it will be well over 500K even at my state school if I do the 30 year repay--which I won't but some do.
 
Are you guys including the cost of specialization as well?
 
The White Coat Investor said:
You called? Scary going into professional school these days, isn't it? I see lots of dentists at 300-400K. It'll be worse by the time you folks graduate.
Click to expand...

Hey!
I read your book, which is totally great but may be a bit harder to put into practice for dentists. For instance private dental schools could be more accurately valued at 400k these days, while I believe estimated educational debt in the book examples was more like 200k. Then, the loan forgiveness through the PSLF isn't really something dentists could take advantage of since they aren't employed by nonprofit institutions.
We've had a lot of recent discussions on this board whether there is a line at which point the education just becomes not worth the investment, and I think we would all appreciate your input on this.
Given that dental incomes for employed associates (which is something that people graduating with these ridiculous debts should be looking into) is more in the 120k range.

 
Last edited:
allantois said:
Hey!
I read your book, which is totally great but may be a bit harder to put into practice for dentists. For instance private dental schools could be more accurately valued at 400k these days, while I believe estimated educational debt in the book examples was more like 200k. Then, the loan forgiveness through the PSLF isn't really something dentists could take advantage of since they aren't employed by nonprofit institutions.
We've had a lot of recent discussions on this board whether there is a line at which point the education just becomes not worth the investment, and I think we would all appreciate your input on this.
Given that dental incomes for employed associates (which is something that people graduating with these ridiculous debts should be looking into) is more in the 120k range.

Click to expand...

You think you have it bad? Try lawyers and veterinarians and people who go to expensive colleges to get a bachelor's in art history. You're right, there is a point at which it isn't worth it especially if you're paying for it on credit at 8%. What is that point? Well, I think it's when your debt gets above 2X your expected average career income. So if you expect to make $180K a year for 20 or 30 years, I think you should keep your debt below $360K total or be looking for something else. But if you have a little savings, your parents can help, you can work your way through etc etc etc, it's still reasonable to pay $400K for an education that leads to an income of $150K a year if you come out of school only owing $200K.

Check out the poll at the end of this old post: http://whitecoatinvestor.com/is-medical-school-still-affordable/ One advantage dentists have over physicians is their debt doesn't compound for 3-6 years after school before they can start paying it back. They make $120K (or whatever) right out of dental school where a physician is making $50K. Huge advantage.

But if you want to make the big bucks, go open a dry cleaner business or become a plumber or an investment banker or a financial advisor. If you don't feel called to go into dentistry, by all means go do something else!
 
I completely agree with the whole indetbness issue, but I also do wonder about the alternative. Say someone has been predent for 2-3 years, worked hard, told friends /family, and then only gets into a few expensive schools? You can reapply, but then what if the same thing happens? You're now a year behind, and in the same situation. Its easy to point the finger, and say that no one should go 500k in debt, but what are we supposed to do? Nothing else is similar to dentistry, I'm not going to just become an optometrist or a physio
 
The real 007 said:
I'm estimating less than 100k due to Baylor's cheap tuition and my families willing to take care of my room and board by buying me a house.
Click to expand...
Uhhh, #winning
 
About $100k, assuming tuition increases aren't too substantial
happy-prancing.gif
 
If I win that big buck powerball tonight, 0$
 
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