The highlight of any prospective dental student applying to dental schools is the moment when you've torn open that letter from the dental school where you know that interview you had a few months back was just magic. You and the interviewer just clicked, and you knew it'd be a dream come true if you'd just be able to be counted as one of their peers eventually. Those feelings culminate in ripping open the envelope and scouring for any possible positive words: "Accepted," or "It is my pleasure to..." or "Offer you a position in the class of..." Then you go back and read it about 72 times to make sure you read it right, somehow you got in.
Of course you're going, you are one of the luckiest people to be counted among the accepted. The thought literally never crosses your mind as to how you'll pay for it. You've already answered the question in your mind without ever asking it, "I'll just get loans like everyone else, once I'm making that dentist money it'll be insignificant however much they are." And indeed it is "however much they are" because you don't actually know how much you'll need. All you have to go on is how much the previous year's class paid (also estimated) and of course there's living expenses and the required 1st year kit that you'll need for all your hands-on classes, practically a bargain at ~$7,000. Oh yes, I also need a new laptop since you can't bring your desktop to class or to late-night sessions at the Starbucks. Side note: And why aren't there any more 24 hour Starbucks around me any more? Not enough student-loan-subsidized-caffeine revenue to warrant being open all night? Anyway, that all totals up to: the absolute maximum amount of money that they'll lend me. Which by the way will be chump change when I'm making that sweet dentist money (pro tip: if you say it to yourself often enough you don't actually have to work it out mathematically).
The next thing to do is to multiply the year's tuition by 4. Plus those items purchased to be successful as a student times 4 (minus the laptop, as long as a laptop lasts you more than a year of course). Don't forget about the living expenses x4. Oh, and as a fun add-on, there're a few exams (such as national boards and state boards. A few thousand dollars should cover those. What does that add up to? $160-$170k.
Oh, I almost forgot, there is the matter of the 6.80% interest rate that will compound daily while you're in school that will get added on to the end. Magically, that's how borrowing $170k will morph into a grand total of $200k.
Which will, after all, be chump change once I'm making that sweet dentist money.
Of course you're going, you are one of the luckiest people to be counted among the accepted. The thought literally never crosses your mind as to how you'll pay for it. You've already answered the question in your mind without ever asking it, "I'll just get loans like everyone else, once I'm making that dentist money it'll be insignificant however much they are." And indeed it is "however much they are" because you don't actually know how much you'll need. All you have to go on is how much the previous year's class paid (also estimated) and of course there's living expenses and the required 1st year kit that you'll need for all your hands-on classes, practically a bargain at ~$7,000. Oh yes, I also need a new laptop since you can't bring your desktop to class or to late-night sessions at the Starbucks. Side note: And why aren't there any more 24 hour Starbucks around me any more? Not enough student-loan-subsidized-caffeine revenue to warrant being open all night? Anyway, that all totals up to: the absolute maximum amount of money that they'll lend me. Which by the way will be chump change when I'm making that sweet dentist money (pro tip: if you say it to yourself often enough you don't actually have to work it out mathematically).
The next thing to do is to multiply the year's tuition by 4. Plus those items purchased to be successful as a student times 4 (minus the laptop, as long as a laptop lasts you more than a year of course). Don't forget about the living expenses x4. Oh, and as a fun add-on, there're a few exams (such as national boards and state boards. A few thousand dollars should cover those. What does that add up to? $160-$170k.
Oh, I almost forgot, there is the matter of the 6.80% interest rate that will compound daily while you're in school that will get added on to the end. Magically, that's how borrowing $170k will morph into a grand total of $200k.
Which will, after all, be chump change once I'm making that sweet dentist money.
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