One of the biggest concerns from dental students is getting out from under their student loan debt burden when they finish school. Many people already have previous schooling debt from their undergraduate programs and are looking for recommendations. The good news is that there are various resources and best practices available that can make a big difference for virtually every student.
Financial wellness is essential for students transitioning from dental school into the profession. While education loan debt is a fact of life for most new dentists, careful planning enables one to limit risks and to repay or refinance existing school loans. There are important steps students must take now and post-graduation to protect their livelihood and to maximize their future earning potential.
The following subjects will be addressed within this virtual training event:
- Understanding repayment options (e.g., loan consolidation, refinancing, federal or state-based repayment programs, income-driven repayment plans)
- Managing debt and compounding interest
- Pros and cons of loan consolidation
- The importance of timeliness and documentation
- Understanding the implications of deferments and forbearances
- Modeling one’s self on the characteristics of financially independent dentists
- Pending legislation that may impact borrowers
- Understanding the ADMI compensation package and its impact on educational debt