Managing debt and wealth: Basic budgeting

Budgeting your income can prepare you to effectively manage your student loan debt, leaving you with more options during your first years as a practicing dentist. Follow these key strategies and build a foundation for financial success. Track your spending — Count every penny you spend, and think of every borrowed penny as five. Budget based on actual… Read More »

Manage debt so it doesn’t manage you

Personal and practice financial management is a vital part of building a successful career in dentistry – and allowing you to lead the life you imagined. ADA.org/MyDebt is the go-to place for new dentists to learn facts on debt, budgeting tips, and student loan refinancing – which can save you tens of thousands of dollars. In fact, on… Read More »

Federal options for paying off debt

Looking for ideas on how to pay off your student loans faster? Here are some federal programs available to new dentists. The National Health Service Corps offers loan repayments and scholarships for dentists who practice in Health Professional Shortage Areas. For information about the National Health Services Corp., visit the NHSC’s main webpage and search “loans and scholarships”.… Read More »

Managing debt without deprivation

Dental school is expensive, and someone has to pay for it. By the end of dental school, both of us had accumulated significant debt. Unlike many of our colleagues who borrowed (or allowed their sponsors to pay) more, so that they could dine extravagantly and enjoy Caribbean vacations as a reward for their hard work as dental students,… Read More »

To parent dentists with parent PLUS Student Loans: Should you transfer student loan debt to your child?

Editor’s note: This is the seventh article in a fall financial series of New Dentist Now blog posts from Darien Rowayton Bank, which provides student loan refinancing and is endorsed by the American Dental Association. Qualifying ADA members receive a 0.25 percent rate reduction to DRB’s already low rates for the life of the loan as long as… Read More »

‘Manage My Debt’ web portal launches

As the average educational debt for senior dental students continue to grow, the ADA launched in September a new web portal dedicated on money-saving resources and tools to help dentists achieve financial stability. “This is a great resource for members and sorely needed, especially for new dentists,” said Dr. Chris Hasty, New Dentist Committee chair.   “I’m so… Read More »