Congratulations to All Accepted into the Class of 2019!

December 1st, 2014 | Posted by Elias Almaz in Advice | Dental School | Tips - (Comments Off on Congratulations to All Accepted into the Class of 2019!)

BasicDentalInstrumentsWow! I can not believe it has already been a year! It was such a thrill receiving messages all-day from friends and readers about the good news. If you are still waiting to hear back from your dream school, don’t worry! Many schools take a few days to send out acceptances and interviews often run through March.

Those that have been offered an acceptance have 30 days to reply to the school and place a deposit to reserve their spot. A December deposits is usually $1,000 dollars and non-refundable. Deposits can be paid to multiple schools to hold multiple offers which allows a student plenty of time to figure out the best school for them, both financially and educationally. On April 1st, those holding multiple positions will begin to be contacted to make a final decision. You can read more about the process on this ADEA document from 2011. Please note that you will lose any deposit in the programs you decide to withdraw from.

 

Some schools have a second deposit that often coincide with the April “Applicants Holding Positions at Multiple Institutions” process. These deposits may cost up to $2,000 dollar, but money from the primary and secondary deposits are counted towards your first year of dental school. Some schools do have refundable secondary deposits in the case you switch programs, so be sure to ask about their policy if you are withdrawing from a school!

 

If you have received an acceptance from a dental school that you no longer intend to attend, it is important to let the school know ASAP. They have hundreds of other applicants who would love to have your spot. Feel free to call or email the admissions office to let them know  you kindly withdraw your application and thank them for considering you as a student at their school. This is VERY IMPORTANT. You DO NOT want to burn any bridges with any dental schools! You never know what can happen!

 

Here are a few reminders now that you are in:

  •  For those still in school!
    • Maintain your grades! Don’t let senioritis kick in (fully)! Yes, you don’t have to get “A’s” anymore, but aim high for graduation. Your college GPA may still come in handy on your resume. Some dental schools will accept C’s while others may reevaluate your acceptance if you receive a B- or lower. Spare yourself the heartache and continue to succeed as you have managed to do for the past 4+ years.
    • Complete any classes listed on your AADSAS application. Your acceptance can be revoked if you do not complete those classes since schools may have factored them in your acceptance. Some schools are not concerned with your future coursework (other than prerequisites), but try not to change your schedule too dramatically. You can always contact the school and see if they would allow you to change your future coursework.
  • For all!
    • Apply for student housing or look for private housing early to save money!
    • Learn about your financial situation in dental school and tips on how to save money
      • Apply to scholarships NOW! All of the best scholarships are due in December-March.
    • Meet your class mates! Visit The Student Doctor Network School Specific threads to chat with other students who have been accepted and join the Facebook page for your class (ie. class of 2019). Many of the Facebook pages have students or admissions personnel from the school that can help you with any specific questions such as housing tips. Many schools have events for admitted student prior to the first day of school.
    • Self-study anatomy or take a community college course! A basic foundation helps a lot!
    • Find time to relax and enjoy life! Once you start dental school, you won’t have much free time.
    • Start working on a professional resume/CV and your LinkedIn profile.

 

Kick back, relax, and enjoy your next 6+ months off! You earned it! I would love to hear your story if you haven’t shared it already! Congratulations! YOU ARE GONNA BE A DENTIST!

 

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If you are still waiting to hear back, most schools have only filled half of their class by December 1st so don’t worry! Be sure to send an academic update through AADSAS if you have completed any recent courses. Make sure you let remaining dental schools know you are still interested in their programs and that you are looking forward to an update on your status. If you are still waiting on your dream school post-interview, call the school and ask if they accept a letter of intent.

If you are preparing to reapply for the upcoming cycle, take a look at each component of your application and figure out how you can improve it.  If you would like me to take a look at your application and help you figure out what areas need attention, feel free to submit your information on the Ask Elias page!

Financing Dental School Without Outside Support

September 20th, 2014 | Posted by Elias Almaz in Advice | Dental School | Tips - (Comments Off on Financing Dental School Without Outside Support)

Dental Sim LabThe cost of education required to become a dentist is astronomical. In fact, it is the most expensive education for any career path! A lot of students tell me they don’t realize how much dental school really costs until it is far too late to back out. This is why it is absolutely essential, in this day and age, to make sure dentistry is the right career path for you. The unfortunate truth is our generation is not expected to be able to finance a home or a private practice until at least a decade into our careers. So what changed? Why is dental school so expensive? I won’t get into any of the grey area reasons related to the cost of education but a big key factor is the cost of dental equipment and workable space. Unlike medical, law, and pharmacy school, dentistry requires an obscene amount of expensive equipment, instruments, and consumable materials. Many dental schools are switching from a purchasable dental kit costing approximately $15K per student per year to a rentable dental kit for approximately $5K. This allows many expensive schools to reduce the overall student fees. Dental students also require more space with D1 and D2 students needing a simulation chair with a mannequin as in the picture to the right, while D3 and D4 students require a clinical chair (pictured below) in order to provide care to the community and complete requirements to graduate. As a result, dental schools often have a smaller class size than medical schools.

 

Dental School ClinicIn addition to the sticker price you will be paying, expect to pay a hefty sum (upwards of double of the loan amount) during the repayment process. The interest rates given to students are currently hovering around 8% which is well over double the current mortgage loan rates, YIKES! For this reason it is very important to minimize your loans anyway possible. If you find it hard to reduce your reliance on loans be sure to understand the logistics so that you can recover from such a long term investment. Many dental schools push this topic under the rug or attempt to build confidence in students who would be taking out these loans by citing university wide loan default rates. There are a few shining examples such as UCLA School of Dentistry who really push to educate their students in borrowing money and motivate them to to reduce their loan reliance.

 

 

 

To put yourself in the best position to pay off your loans and begin your life as a dentist, spend a day understanding how interest and loans truly work. By following these five simple steps below you can move towards as more cost effective experience in school.

 

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STEP ONE

Reducing your loans by maximizing your scholarship potential for dental school

  1. High Academic Achievements
    • Many programs gift scholarships to top academic performers in each class. I have seen scholarships for as little as $15,000 and scholarships larger than $100K. These can seriously make a difference in pursuing your dreams as a dentist.
  2. Loan Repayment Programs
    • Military Scholarships
      • The Army, Navy, and Air Force all have a Health Professional Scholarship Program (HPSP) that will cover 100% of tuition and includes a stipend for living expenses in exchange for 4 years of service. This method of paying off your education is by far the fastest route.
      • As you guessed, these programs are incredibly competitive, but applying early will give you a significant advantage. Be sure to apply WHILE you are applying to dental school.
      • UoP is an excellent program for those interested in joining the armed forces as they are only required to serve 3 years.
      • Upon graduation from dental school you will receive the title of captain or lieutenant depending on the program.
      • Several other scholarship and repayment programs are available and differ between the Army, Navy, and Air Forces. Ask your local recruiter about your options.
      • Livelong recognition and benefits for being in the armed forces.
    • Care for Underserved Scholarships
      • The National Health Services Corps (NHSC) provides a scholarship that covers 100% of tuition and fees in addition to a stipend in exchange for 4 years of service at an approved outpatient facility in a medically underserved community.
      • Minimum of two years of service and up to 4 years depending on the number of years you are sponsored for.
      • A great alternative to the Military Scholarships for those who are iffy about joining the military.
      • Application opens in March/April for approximately a month.
  3. Private Scholarships – Private scholarships are EXTREMELY hard to find for dental school. It is recommended to look for generic graduate school scholarships in addition to scholarships offered by smaller groups you are involved with.
    • Communities
      • Religious organizations often have private scholarships for students in their community
        • Ask your priest or young adult coordinator!
      • Fraternities/Sororities may have scholarships for those continuing to graduate school or health professional programs.
      • Some ethic groups have private scholarships to help support their community.
    • Your undergraduate institution likely has a health professional or dental scholarship. These scholarships are seldom advertised!

 

STEP TWO

Apply to any and all support programs at your dental school. If a dental school allows you to provide your parents information to be evaluated DO IT! This often means the school has other means to provide grants and low-interest loans!

  1. University grants for “low” income households
    • The definition of a “low” income household for dental schools is much different than what you would expect!
    • With only weeks left before dental school begins, I am learning that both UCSF and UCLA are extremely generous with grants. I have yet to meet or hear about anybody not receiving outside aid. This was very surprising as neither of these schools acknowledged the availability of grants when asked during the interviews. It is likely other public schools around the country have similar opportunities for their students.
  2. University loans for “low” income households
    • Again, the definition of “low” is much higher than you would think.
    • Schools, both private and public, are offering Health Student Professional Loans (HSPL) directly from the university with benefits such as greatly reduced interest rates, subsidized interest, and longer deferment periods.

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Step Three

Cut corners in your habits and lifestyle!

  1. Break that coffee addiction. After interest, each $4 dollar cup of coffee will cost you $6-8 dollars when repaying your loans. Take advantage of the summer before dental school to break your caffeine dependency!
  2. Eat smart!
    • Buy food to make at home rather than eating out every day!
    • Learn how to cook some quick meals!
    • Take advantage of lunch and learns! FREE food AND you get to learn how to be a better dentist?! Where do I sign up!
  3. Don’t live in luxury
    • If you don’t need a car, don’t bring one.
    • Consider sharing a room
    • Find cheaper housing further from campus and bike!
    • Be smart with your money and don’t buy the latest and greatest of everything.

 

Step Four

Only take what you need.

  1. For graduate school there are two main types of loans. The days of subsided graduate school loans are long and gone so you will be accumulating interest while in dental school! Regardless, Federal Loans are the ONLY way to go.Private loans may have cheaper variable rates (compared to the federal fixed rates), but are missing all of the wonderful perks of federal loans (the topic of my next article, stay tuned!).
      • Federal Direct Unsubsidized Loans
        • These loans are the best federal loans available to dental students. Depending on your tuition and fees you will be restricted to approximately $40-55K of funding via this loan. ie UoP, UCSF, UCLA.
        • In the tables below you will notice the interest rates went up by 0.8% during one academic year. This change can equal tens of thousands of dollars of additional interest. There is a loan origination fee that is a ~1% fee for borrowing the money (ie $1K fee for borrowing $100K)
      • Federal Direct Plus Loans
        • Federal Direct Plus Loans are available to fill the “gap” left over after you have depleted your available Federal Direct Unsubsidized Loans. These loans will cover the rest of your estimated expenses but have a much higher interest rate and loan origination fee.
        • In the tables below you will notice the interest rates went up by 0.8% during one academic year. This change can equal tens of thousands of dollars of additional interest.
        • The biggest difference here is the staggering 4.292% Loan Orignation Fee which means you lost $4K for every $100K borrowed instantly!

     

    Loan Type Borrower Type Loans first disbursed on or after 7/1/13 and before 7/1/14 Loans first disbursed on or after 7/1/14 and before 7/1/15
    Direct Unsubsidized Loans

    Graduate or Professional

    5.41%

    6.21%

    Direct PLUS Loans

    Graduate or Professional

    6.41%

    7.21%

     

    Loan Origination Fees

    Loan Type

    Loan Fee

    Direct Unsubsidized Loan

    1.073%

    Direct PLUS Loan

    4.292%

 

Step Five

Plot out your loans using a loan repayment calculator. Find out how much a loan with interest will cost you over its life.

  1. My personal favorite resource is the Dental Loan Organizer and Calculator developed by the AAMC in partnership with the ADEA
    • Allows you to keep track of all of your loan information including loan issuer information.
    • Automatically pulls the correct interest rates and fees
    • Allows you to plot repayment over several years and shows the cost (side-by-side) with the various federal repayment options.
  2. A Loan Spreadsheet made by Bereno on Student Doctor Network
    • Nothing recorded and saved online and can be accessed on all devices supporting excel document editing/viewing
    • Traditional loan repayment ($/month) only
    • ery dynamic allowing for various other factors unrelated to your dental school expenses such as a mortgage, car loan, and business loans.
    • A very close second to me (sometimes can be overwhelming)
  3. A Loan Calculator Program (Windows Only) made by an individual on Student Doctor Network
    • Nothing is recorded and saved online
    • Traditional loan repayment ($/month) only
    • Simple for quick estimates

 

As always, if you have any concerns or would like advice, contact me through the Ask Elias page!

P.S. I apologize for the delay on this article. I finished it a few weeks back but it vanished without any backups!

So… What Dental School Did I Pick?

August 14th, 2014 | Posted by Elias Almaz in Background Information | Dental School | Website - (Comments Off on So… What Dental School Did I Pick?)

After 5 years of chasing my dream and a roller-coaster of an admissions process I am proud to announce that I will be attending…

 

UCSF-SOD

 

 

I just want to reiterate that this change will not influence this resource in any way. I will be keeping all future posts unbiased, but may bring in the perspective as a UCSF student (in addition to the perspective of my colleagues at other schools) from time to time. Please note I am planning a UCSF vs. UCLA article in the near future that will be aimed at helping summarize the minute differences between the programs. I spent nearly 2 weeks juggling between both programs and researched them from every angle possible. During that time, I gathered plenty of resources comparing the two schools which I believe will be extremely helpful in guiding others to decide between the two very excellent programs. Spoiler alert… there is no one “right” answer! 🙂

 

Cheers!