mellow_yellow

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As with most pre-dental students (or maybe its just me), I'm worried about how much debt I will accumulate in Dental school. As tuition rates get higher, I get more and more stressed out about how I will pay off this huge debt after I graduate. I have been doing a lot of research since last year about the future dentistry and how newly-minted dentists are coping with the financial burden of dental school. I have been reading numerous stories of new dentists struggling to make ends meet. Most of these new dentists are working 50-60 hours a week (some are working as associates for two dentists) just to be able to make loan payments. They anticipate doing this for at least a couple of years to get their debt down and finally generate enough income to be able to make mortgage payments on a decent house.

For those who are getting into dentistry for the money and those who are anticipating a great income after dental school, this is like a wake-up call. For most of us, who do not have parents paying for dental school, the dream of having a profitable practice and a decent lifestyle seem to be at least a few years after graduating from dental school.

With new advances in dental care (click on link below), what kind of life do you think your dental education will provide you? Do you think you will make enough to pay $150,000 in loans and still live a lifestyle you hope to have? Do you think loans payments of about $2000 per month for 10 years is a huge burden that will have tremendous effects on your lifestyle (and your family)?

Note: I know some people will read this post and automatically go on the defense mode and attack it. I'm not trying to dissuade anyone from going into dental school. I'm also not trying to get people to make a decision for me. My mind is made up. I was trained as an economist and I spent the last four years looking at factors such as opportunity cost and inflation. I am very interested in this aspect of dental education. I wrote this post because I want to see what these future professionals think about the issue.

http://www.webmd.com/content/article/101/106046.htm
**the article says that the paste will not be available for at least a few years. However, recent news (Discovery Channel) stated that the makers of this paste is expecting worldwide release in within three years. The product is done testing and the marketing strategy is being formulated.
 

aggie-master

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I know how you feel.

That is why I only plan to borrow about 60K while in dental school. That shouldn't be too difficult to pay when I get out.
 

reapply2007

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The tootpaste sounds like it should be available by prescription only, if the ADA is on top of its game. Otherwise pricing of the paste, human nature, and lifestyle issues are unlikely to eliminate the need for dentistry anytime soon. Elvis will come out of retirement before that happens.
 
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gator1210

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mellow_yellow said:
As with most pre-dental students (or maybe its just me), I'm worried about how much debt I will accumulate in Dental school. As tuition rates get higher, I get more and more stressed out about how I will pay off this huge debt after I graduate. I have been doing a lot of research since last year about the future dentistry and how newly-minted dentists are coping with the financial burden of dental school. I have been reading numerous stories of new dentists struggling to make ends meet. Most of these new dentists are working 50-60 hours a week (some are working as associates for two dentists) just to be able to make loan payments. They anticipate doing this for at least a couple of years to get their debt down and finally generate enough income to be able to make mortgage payments on a decent house.

For those who are getting into dentistry for the money and those who are anticipating a great income after dental school, this is like a wake-up call. For most of us, who do not have parents paying for dental school, the dream of having a profitable practice and a decent lifestyle seem to be at least a few years after graduating from dental school.

With new advances in dental care (click on link below), what kind of life do you think your dental education will provide you? Do you think you will make enough to pay $150,000 in loans and still live a lifestyle you hope to have? Do you think loans payments of about $2000 per month for 10 years is a huge burden that will have tremendous effects on your lifestyle (and your family)?

Note: I know some people will read this post and automatically go on the defense mode and attack it. I'm not trying to dissuade anyone from going into dental school. I'm also not trying to get people to make a decision for me. My mind is made up. I was trained as an economist and I spent the last four years looking at factors such as opportunity cost and inflation. I am very interested in this aspect of dental education. I wrote this post because I want to see what these future professionals think about the issue.

http://www.webmd.com/content/article/101/106046.htm
**the article says that the paste will not be available for at least a few years. However, recent news (Discovery Channel) stated that the makers of this paste is expecting worldwide release in within three years. The product is done testing and the marketing strategy is being formulated.
Isnt the paste exactly like the filling? The dentist still has to find the bacteria and hole and dentists will fill it. And since there is no drilling, means less tech/equipment for the dentist, its quicker, less pain and scare to the patient ergo prob will cost more. So I see this as a plus for dentist.

They wont let any retaird buy this stuff bc its reaction to gums. OR maybe they will, FDA is dee dee dee.
 

apaul

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i read another article about the stuff and it said that it cant even touch the gingiva, so forget allowing people to administer it to themselves, so it would be another toy to treat people with and increase production. Thats is if it even works as they claim, if you talk to an older dentist, he'll tell you that every few years since he's started practicing there is always a new cure to caries, and yet nothing works out. probably a conspiracy ;)
 

54807

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mellow_yellow said:
As with most pre-dental students (or maybe its just me), I'm worried about how much debt I will accumulate in Dental school. As tuition rates get higher, I get more and more stressed out about how I will pay off this huge debt after I graduate. I have been doing a lot of research since last year about the future dentistry and how newly-minted dentists are coping with the financial burden of dental school. I have been reading numerous stories of new dentists struggling to make ends meet. Most of these new dentists are working 50-60 hours a week (some are working as associates for two dentists) just to be able to make loan payments. They anticipate doing this for at least a couple of years to get their debt down and finally generate enough income to be able to make mortgage payments on a decent house.

For those who are getting into dentistry for the money and those who are anticipating a great income after dental school, this is like a wake-up call. For most of us, who do not have parents paying for dental school, the dream of having a profitable practice and a decent lifestyle seem to be at least a few years after graduating from dental school.

With new advances in dental care (click on link below), what kind of life do you think your dental education will provide you? Do you think you will make enough to pay $150,000 in loans and still live a lifestyle you hope to have? Do you think loans payments of about $2000 per month for 10 years is a huge burden that will have tremendous effects on your lifestyle (and your family)?

Note: I know some people will read this post and automatically go on the defense mode and attack it. I'm not trying to dissuade anyone from going into dental school. I'm also not trying to get people to make a decision for me. My mind is made up. I was trained as an economist and I spent the last four years looking at factors such as opportunity cost and inflation. I am very interested in this aspect of dental education. I wrote this post because I want to see what these future professionals think about the issue.

http://www.webmd.com/content/article/101/106046.htm
**the article says that the paste will not be available for at least a few years. However, recent news (Discovery Channel) stated that the makers of this paste is expecting worldwide release in within three years. The product is done testing and the marketing strategy is being formulated.
I'm all for the paste. If it means a tooth doesn't have to be drilled out for a minor decay then great. As mentioned already...lifestyles of eating sugar, smoking and flat out not brushing flossing, there is always going to be a need for dentists. And if they got the minor carie in the first place, you'd think they'll be back later anyway with a larger one.

I guess you need a dental license or must be given the order by a dentist to make an impression. It would be odd if they let people fill their own holes in their teeth. Just my opinion.
 

dentwannabe

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mellow_yellow said:
As with most pre-dental students (or maybe its just me), I'm worried about how much debt I will accumulate in Dental school. As tuition rates get higher, I get more and more stressed out about how I will pay off this huge debt after I graduate. I have been doing a lot of research since last year about the future dentistry and how newly-minted dentists are coping with the financial burden of dental school. I have been reading numerous stories of new dentists struggling to make ends meet. Most of these new dentists are working 50-60 hours a week (some are working as associates for two dentists) just to be able to make loan payments. They anticipate doing this for at least a couple of years to get their debt down and finally generate enough income to be able to make mortgage payments on a decent house.

For those who are getting into dentistry for the money and those who are anticipating a great income after dental school, this is like a wake-up call. For most of us, who do not have parents paying for dental school, the dream of having a profitable practice and a decent lifestyle seem to be at least a few years after graduating from dental school.

With new advances in dental care (click on link below), what kind of life do you think your dental education will provide you? Do you think you will make enough to pay $150,000 in loans and still live a lifestyle you hope to have? Do you think loans payments of about $2000 per month for 10 years is a huge burden that will have tremendous effects on your lifestyle (and your family)?

Note: I know some people will read this post and automatically go on the defense mode and attack it. I'm not trying to dissuade anyone from going into dental school. I'm also not trying to get people to make a decision for me. My mind is made up. I was trained as an economist and I spent the last four years looking at factors such as opportunity cost and inflation. I am very interested in this aspect of dental education. I wrote this post because I want to see what these future professionals think about the issue.

http://www.webmd.com/content/article/101/106046.htm
**the article says that the paste will not be available for at least a few years. However, recent news (Discovery Channel) stated that the makers of this paste is expecting worldwide release in within three years. The product is done testing and the marketing strategy is being formulated.
My question is, who are these dentists working 50-60 hours a week, holding two jobs, and are barely making ends meet???
 

ItsGavinC

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dentwannabe said:
My question is, who are these dentists working 50-60 hours a week, holding two jobs, and are barely making ends meet???
They don't exist. Okay, some might, but they are probably largley incompetent, lacking people skills, and very slow at their work.

$250,000 in loans is probably $1200-1600 a month in payments. That can be made in 3-4 days of working as an associate.

Sure, new graduates with huge loan debts to pay down aren't going to be living like kings and queens, but they shouldn't be living in poverty either.
 

staceyk

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They probably aren't living in poverty, but if you're a new graduate working at a new practice, chances are that you spend most of the day waiting for walk-ins. So even if you 'work' 50-60 hrs/week, most of that time is spent sitting around (and not getting paid).
 
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mellow_yellow

mellow_yellow

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dentwannabe said:
My question is, who are these dentists working 50-60 hours a week, holding two jobs, and are barely making ends meet???
http://dentalschool.umdnj.edu/daa/BEACON/vol6/v6debt.html

This is an article from UMDNJ's website. I have read numerous articles about dentistry and financing dental school is one topic I'm very interested in. www.pubmed.gov is a great site to look for articles, but you need an account. If how new dentists handle debt is something that might interest you, I'm sure EBSCOHost or LexisNexis (using your college's account) would give you great journal articles.
 
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mellow_yellow

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ItsGavinC said:
$250,000 in loans is probably $1200-1600 a month in payments. That can be made in 3-4 days of working as an associate.
Repaying $250,000 in loans is $2838.70 per month for 10 years (assuming 6.5% interest, which is around the current interest charged for Stafford loans). Try it using excel or a online mortgage calculator (it calculates it the same).

That means 10 years of writing $3,000 monthly checks!!! :eek:
 

natsipoo

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ItsGavinC said:
$1200-1600 a month in payments.
may refer to a 30 year repayment schedule which is fairly popular among graduates given the opportunity to invest at interest rates higher than 6.8% or 8.5%, to purchase homes subject to less inflation etc...
 

drengineer

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mellow_yellow said:
Repaying $250,000 in loans is $2838.70 per month for 10 years (assuming 6.5% interest, which is around the current interest charged for Stafford loans). Try it using excel or a online mortgage calculator (it calculates it the same).

That means 10 years of writing $3,000 monthly checks!!! :eek:
Yeah dude, check out the 20-30 year repayment plan as GavinC and natsipoo indicated. It's much easier on the pocket and lets you live in relative ease.
I'll be in much more debt than you are... and yeah, i'm woried, but i've hoped and planned that it'll work out for me.
 

hockeydentist

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drengineer said:
Yeah dude, check out the 20-30 year repayment plan as GavinC and natsipoo indicated. It's much easier on the pocket and lets you live in relative ease.
I'll be in much more debt than you are... and yeah, i'm woried, but i've hoped and planned that it'll work out for me.

I plan on winning the lottery ....
 

dexadental

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A lot of programs out there offer debt free education (through the military) or loan repayment options (underserved areas).
 

54807

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mellow_yellow said:
Repaying $250,000 in loans is $2838.70 per month for 10 years (assuming 6.5% interest, which is around the current interest charged for Stafford loans). Try it using excel or a online mortgage calculator (it calculates it the same).

That means 10 years of writing $3,000 monthly checks!!! :eek:
So what. You'll still have a great job that you hopefully enjoy. I don't care if I have to pay $3000/month for the rest of my life. I'm still going to be a dentist and I know I will enjoy my life and that's all that matters.

Your $3000 a month comes to $36k a year. Would it be unreasonable to expect that eventually you'll earn $200k a year? So...after those loans, you've got $164k. :eek: I just don't know what I'll do with so little money.
 
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