According to data from the American Dental Education Association, school loans for dentists jumped more than $25,000 between 2013 and 2014, nearing a quarter-million dollars per student.
A dental loan repayment panel was organized in June by the American Dental Association’s Council on Access, Prevention and Interprofessional Relations. Its goal was to look at options for helping students repay their loans, which averaged $247,227 in 2014.
Presenters at the panel discussion included Susana Galvan, ADA manager of diversity and inclusion and outreach, and Dr. Luis Padilla, associate administrator for the Health Resources and Services Administration's Bureau of Health Workforce and director of the National Health Service Corps.
Padilla announced in 2017 the NHSC will offer loan repayment programs for up to $120,000 for 75 dentists in their final year of school in exchange for service in underserved communities. Applications will be accepted starting Aug. 16.
Galvan presented options available for dentists serving in the military upon graduation. This arrangement offers full-tuition scholarships, a $20,000 signing bonus and a monthly stipend for living expenses for graduates who serve as commissioned officers.
For more details, contact Galvan at email@example.com.
ADA members can refinance their loans for lower rates through Darien Rowayton Bank. The terms depend on loan amount, credit rating and debt-to-income ratio. Visit http://student.drbank.com/ada for details.