Financing a Dental Education

A dental education is an expensive undertaking. While the major responsibility for financing a professional education rests with you and your family, external agencies, such as the federal government assist students by offering low-cost student loans to supplement family contributions.

Financial aid is only available to cover education-related expenses for the student for one academic year. Reapplication is required for each subsequent year. Federal and state laws prohibit the use of financial aid for non-educational expenses such as car loans, lifestyle choices, and credit cards.

Click on a link below for more detail. 

Estimated Expenses & Mandatory Student Fees

Financial Aid Satisfactory Academic Progress Policy for College of Dentistry Students

As required by regulations, the UK College of Dentistry (UKCD) must evaluate and determine whether a student meets Satisfactory Academic Progress (SAP) requirements to receive federal and state and certain institutional financial aid programs. SAP requirements comprise of qualitative, quantitative, and maximum time frame measures, and the standards are required to be as strict as or stricter than UKCD’s academic policies. See full policy here (PDF).

Three Steps to Financing Your Education

  • Step 1: Begin financing a dental education by tapping the nearest resource, which could be your family. Parents, grandparents, and/or other family members may be in a financial position to help you. If they offer, it is wise to accept their assistance. By reducing your costs, your overall debt will be kept in check.   
  • Step 2: Look for scholarships. Unfortunately, scholarships at the professional level are not as plentiful as they are at the undergraduate level, but they are out there. Contact civic organizations, your church, your employer or your parent’s employer for opportunities. Fraternities and sororities offer scholarships. There are books at public and college libraries,  and internet resources for accessing free scholarship searches. An increasing number of our students are turning to Military scholarships, which are a good investment. For a three- or four- year commitment, you can get a free education. Contact your local recruiter to see what they are offering in the area of health professions. 
  • Step 3: The last step is to take a look at the federal loan programs. You do have to re-pay loans, but thanks to the federal government, the Unsubsidized Loan Program is available at a 7.05 percent fixed interest rate. With the cost of tuition continuing to rise, sometimes the Unsubsidized Loan is not enough to cover your costs. In this case, you may have to rely on the 8.05 percent fixed interest rate Grad Plus Loan. This loan is credit based, so if you have bad credit, try to get your credit problems resolved before you apply to dental school. You may have to get a co-signer for this loan. 
If you must rely on loans, you want to keep borrowing to a minimum. A heavy debt burden when you graduate can and will limit what you do with your DMD degree. It is important to remember that even though dental school is expensive, it is a great investment in your future. 
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