The average educational debt per graduating dental school senior is almost $300,000.
Over 85 percent of dental student used federal Direct Unsubsidized Stafford Loans, and 76 percent used federal Grad PLUS Loans—either as a stand-alone financing mechanism or to supplement what the Direct Stafford Loan did not cover. The interest on these loans can reach as high as 9.5 or 10.5 percent, depending on the type of loan and market conditions.
The ADA advocates for numerous of pieces of legislation that would help to lower the repayment amounts and interest levels for dental students and new dentists. One bill in particular is the Resident Education Deferred Interest Act (REDI) (H.R. 1202 and S. 704) , which would allow dental and medical students to defer interest and payments while they are in their residency programs. This bill is both bipartisan and bicameral and if enacted could result in thousands to tens of thousands of dollars in savings for dental student and new graduates.
Read more about the ADA’s support of student loan and postgraduate educational debt reform.