Brace yourself: the average student debt after graduation is about a quarter of a million dollars. Grace periods are typically 6 months. You’ll want to choose a repayment strategy and start as soon as possible. Understand key concepts — Interest: Interest is the rate charged to borrow money. The interest on your loan begins as soon as your… Read More »
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 »
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 »
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 »
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 »
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 »