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Old 11-08-2018, 07:42 AM   #81
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The problem has at least two parts:
One problem is the cost, and the other problem is that the cost no longer automatically comes with a ROI that makes sense of that cost.

Young people who are considering dentistry as a profession are looking at the neighborhood of $500,000 in education expenses. That comes along with the opportunity cost of being tied up for at least 8 years, and hence, not earning any money. In the meantime, the trend in dentistry is a reduction in earning ability, as the dental schools pump out more and more dentists, and they are, in most areas, struggling to have enough patients to pay the bills. Because they are desperate for patients, they sign agreements with insurance companies to take low fees, in the hopes of getting more patients, but since everyone is doing that, it's no guarantee they'll have enough.

Amazingly, in the face of these scary numbers, the dental schools have no shortage of applicants for their incoming classes. It's scary.
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Old 11-08-2018, 08:13 AM   #82
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Since OP’s son is already in the program and taking classes, there’s no leverage to increase financial aid imo—the university will use available dollars to entice prospects who are on the fence about coming there. At his age he certainly can take care of himself and make his own choices and fight his own battles. It sounds like he is doing well and OP should be proud of him. Throw a few dollars at his student debt when you can. It will all work out.
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Old 11-09-2018, 05:51 AM   #83
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Yes, he seems to be doing well and is applying himself. Having left his full time job to full time at school, he no longer has a good income.

We'll have to see how it all goes down.
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How the heck can my older son get financial aid for college??
Old 11-09-2018, 02:27 PM   #84
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How the heck can my older son get financial aid for college??

My oldest went back to school at age 26 for her bachelor degree. Between her savings, a little help from us, a few low dollar loans, working while going to school full time and maintaining a near 4.0 average majoring in chemistry, she did survive. Second year and beyond she got academic scholarships. She did tell us she regretted not going to college right after high school where it would have been easier. For graduate school she didn’t go straight to a PhD program and instead opted for a masters part time while her full time biotech company paid most. It can be done!
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Old 11-09-2018, 04:28 PM   #85
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Originally Posted by Travelfreek View Post
We planned way ahead (middle school) for our 2 kids’ college costs. We drove older cars and saved for the big expense. Had we not had the money, we would have had them do 2 years at community college to save half the money. It makes no sense to borrow that much money when general ed classes are so inexpensive at comm college. We paid for our kids’ BS degrees at a state university for 5 years each. They also worked part time in summer for their spending and gas money. They got good grades and good jobs at graduation. (Nurse and CPA).

I don’t understand parents who have money not seeing this coming. A friend of mine has a freshman in college (17) who’s going to UC just 40 min from their home to the tune of 30k (including dorms). They didn’t have a penny saved so they are allowing him and them to rack up $34k a year in loans. Their son skipped a grade and got a 4.6 gpa (super bright). The parents had great incomes but apparently thought their son would get scholarships. He got only $500 in scholarships. Kinda makes me ill how they are saddling themselves with this much debt.


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Old 11-09-2018, 04:33 PM   #86
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Originally Posted by HadEnuff View Post
The problem has at least two parts:
One problem is the cost, and the other problem is that the cost no longer automatically comes with a ROI that makes sense of that cost.

Young people who are considering dentistry as a profession are looking at the neighborhood of $500,000 in education expenses. That comes along with the opportunity cost of being tied up for at least 8 years, and hence, not earning any money. In the meantime, the trend in dentistry is a reduction in earning ability, as the dental schools pump out more and more dentists, and they are, in most areas, struggling to have enough patients to pay the bills. Because they are desperate for patients, they sign agreements with insurance companies to take low fees, in the hopes of getting more patients, but since everyone is doing that, it's no guarantee they'll have enough.

Amazingly, in the face of these scary numbers, the dental schools have no shortage of applicants for their incoming classes. It's scary.


$500k debt seems like a lot for a dentist. MD’s average debt is half that.
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Old 11-16-2018, 04:41 PM   #87
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Just received an update from my school, and found this paragraph that speaks to aid.

Quote:
Bowdoin is one of only eighteen colleges or universities in the country that offer a combination of need-based student aid, a commitment to meet the full four-year need of our students, and a “no-loan” policy—meaning that since 2008, the College does not require loans in its financial aid packages. Today, 51 percent of Bowdoin’s first-year class receives need-based financial aid, a percentage that is expected to grow. The average grant for all aided students —funds that do not have to be paid back—is nearly $45,000 a year.
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Old 11-16-2018, 05:28 PM   #88
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Originally Posted by imoldernu View Post
Just received an update from my school, and found this paragraph that speaks to aid.
Bowdoin is known to have really really good financial aid. It is well above average in that regard. Hard to get into as well.
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Old 11-16-2018, 07:13 PM   #89
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Lived down the street from Bowdoin College for several years .... a very interesting part of the country and a great liberal arts college.
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