To become a dentist, you’ll typically need to complete four years of undergraduate studies, then another four years of dental school. And unfortunately, this doesn’t come cheap.
While Bureau of Labor Statistics data puts the median annual salary for dentists at $164,010, they also leave school with an average of $304,824 in student loan debt, according to the American Dental Education Association (ADEA). Also keep in mind that as a new dental school graduate, you’ll likely earn much less than the average to start.
Average cost of dental school over four years
How much you’ll pay for a dental program can vary depending on whether you’re a resident or nonresident student as well as on other expenses — such as your living costs.
Here are the average costs you can expect for four years of dental school, according to the American Dental Association (ADA):
- Residents: $259,990
- Nonresidents: $325,891
Attending an in-state school as a resident is generally less expensive than attending an out-of-state school as a nonresident. However, not every state has a dental school, which could also impact your overall cost.
How to pay for dental school
If you’re ready to figure out how to cover your dental school costs, follow these five steps:
1. Fill out the FAFSA
If you need to pay for school, your first step should be completing the Free Application for Federal Student Aid (FAFSA). Your school will use your FAFSA results to determine what federal student loans and other federal financial aid you’re eligible for.
Tip: Be sure to fill out the FAFSA before the deadline. For the 2023-2024 academic year, you have until June 30, 2024.
Keep in mind that some aid is given on a first-come, first-served basis — so it’s wise to submit the FAFSA as early as possible, especially if you have high financial need.
2. Apply for scholarships and grants
Unlike student loans, college scholarships and grants don’t have to be repaid — which makes them a great way to pay for dental school. There’s no limit to how many scholarships and grants you can get, so it’s a good idea to apply for as many as you can.
Many scholarships are available specifically for dental students, such as the:
- ADEA/MouthWatch Predoctoral Dental Student Scholarship for Innovation: Sponsored by the ADEA and MouthWatch, this $1,000 award is available to full-time students who have completed at least one year of dental school.
- Dental Trade Alliance Foundation Scholarship: This award is available to full-time dental students with financial need who are nominated by the dean of their dental school or the dean’s designate. Award amounts range from $5,000 up to $25,000, depending on your nomination ranking and the donations received by the Dental Trade Alliance Foundation.
You might also qualify for school-based scholarships depending on your FAFSA results. Additionally, you can use sites like Fastweb and Scholarships.com to easily search for awards that you might be eligible for.
3. Take out federal student loans
If you need to borrow money to pay for dental school, it’s usually best to rely on federal student loans first. This is mainly because these loans come with major federal benefits and protections — such as access to income-driven repayment plans and student loan forgiveness programs.
Tip:
After you submit the FAFSA, your school will send you a financial aid award letter detailing the federal student loans and other federal financial aid you qualify for. You can then decide which aid you’d like to accept.
Here are the two main types of federal student loans that dental students could be eligible for:
- Direct Unsubsidized Loans are available to undergraduate, graduate, and professional students regardless of financial need. Unlike with undergraduate subsidized loans, you’re responsible for all the interest that accrues on unsubsidized loans.
- Grad PLUS Loans are a category of Direct PLUS Loan available to students who want to pay for grad school or professional programs — such as dental school. PLUS Loans generally have higher interest rates compared to unsubsidized loans. They also require a credit check.
Tip: Graduate and professional students typically have an aggregate borrowing limit of $138,500 for Direct Unsubsidized Loans. However, as a dental student, you might be able to borrow up to $40,500 per year in unsubsidized loans. You can ask your school’s financial aid office for more information on how to qualify for this higher amount.
With PLUS Loans, on the other hand, you might be able to borrow up to your school’s cost of attendance minus any other financial aid you’ve received.
4. Consider HRSA programs
The Health Resources and Services Administration (HRSA) provides loans to schools, which are then passed on to students with financial need. Loans that might be available to dental school students include:
- Health Professions Student Loans
- Loans for Disadvantaged Students
Tip:
You can ask your school’s financial aid office if they participate in any HRSA programs and, if so, how to apply.
5. Shop around for private student loans
After you’ve exhausted your scholarship and grant options and applied for any federal and HRSA loans that you’re eligible for, private student loans could help fill any financial gaps left over. These loans are offered by private lenders, such as online lenders as well as traditional banks and credit unions.
Note that private student loans don’t come with federal protections. However, they do offer some benefits of their own — for example, you can apply at any time and might be able to borrow more than you’d get with a Direct Unsubsidized Loan.
Tip: Unlike with most federal student loans, you’ll need good to excellent credit to qualify for a private student loan. A good credit score is usually considered to be 700 or higher. Some lenders offer student loans for bad credit, but these loans tend to come with higher interest rates compared to good credit loans.
If you’re struggling to get approved, consider applying with a creditworthy cosigner. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own. Just keep in mind that if you can’t make your payments, your cosigner will be on the hook.
8 best dental school student loans
Many private lenders offer student loans for dental school. Some even provide specialized loans that are designed specifically for dental students as well as loans that can be used to cover the cost of dental residency or relocation.
If you decide to take out a private student loan to pay for dental school, it’s important to shop around and consider as many lenders as possible so you can find the right loan for you. Credible makes this easy — you can compare your prequalified rates from our partner lenders below that offer private student loans for dental school in just two minutes.
Advertiser DisclosureLoan Amounts
$1,000 up to 100% of the school-certified cost of attendance
Overview
College Ave offers a wide range of in-school loans for nearly every type of degree. There are a number of repayment options, and borrowers can choose a unique eight-year repayment term. Plus, graduate, dental, and medical students receive extended grace periods.
You may get easy funding for multiple years — 90% of undergraduates are approved for additional student loans when they apply with a cosigner. However, it can be difficult to remove a cosigner for your loan later on, as you must complete at least half of your repayment term before becoming eligible. That’s significantly longer than some lenders, which may only require one to two years of payments before releasing a cosigner.
Loan terms
5, 8, 10, or 15 years for most borrowers (law, dental, medical, and other health profession students have up to 20 years)
Loan amounts
$1,000 minimum up to your school’s annual cost of attendance; lifetime limits depend on your degree and credit profile
Cosigner release
After half of the scheduled repayment period has elapsed
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. International students with a Social Security number and a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Overview
Ascent offers several unique borrowing options that you don’t typically see with private lenders. In addition to traditional student loans for undergraduate, graduate, and medical programs, college juniors and seniors may qualify for its Outcomes-Based Loan — which doesn’t require established credit or a cosigner. Instead, Ascent reviews alternate factors such as your school, major, and GPA to determine your eligibility.
Ascent also offers a wide range of loan terms and repayment plans to choose from. You may even qualify for its Progressive Repayment plan, which allows you to start with small payments that gradually increase over time. Borrowers who use a cosigner can release them after as few as 12 payments, though international students don’t qualify for this option.
Loan terms
5, 7, 10, 12, 15, or 20 years
Loan amounts
$2,001 minimum up to your school’s annual cost of attendance; lifetime limits of $200,000 for undergrads and $400,000 for graduates
Eligibility
Must be a U.S. citizen or DACA student enrolled at least half time at an eligible institution. International students with a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Loan Amounts
$1,000 to $99,999 annually ($180,000 aggregate limit)
Overview
Powered by Cognition Financial, Custom Choice offers student loans for undergraduate and graduate students starting at $1,000. You can borrow up to $99,999 per year with a total aggregate limit of $180,000.
If you apply with a cosigner, you may be able to release them from your loan after 36 on-time payments. You can also receive a 0.25 percentage point discount on your interest rate by setting up autopay, as well as a 2% reduction of your principal balance after graduating.
Custom Choice doesn’t charge application, origination, prepayment, or late fees. It also lets you pause payments through forbearance if you qualify for its natural disaster or unemployment protection programs.
Loan amounts
$1,000 to $99,999 per year (lifetime limit of $180,000)
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. You must also meet Custom Choice’s underwriting criteria for income and credit, or apply with a cosigner who does. Eligible noncitizens such as DACA residents can also qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.
Loan Amounts
$1,000 up to 100% of school-certified cost of attendance
Overview
Sallie Mae offers the Smart Option Student Loan to undergraduate and graduate students. You can borrow up to your school-certified cost of attendance and apply just once annually to get the funds you need for the entire academic year. Plus, it may be easy to get reapproved for your future years of study — undergraduates have a 97% approval rate when they return to Sallie Mae with a cosigner.
Through Sallie Mae, you can find a variety of loans designed for specific needs, including loans for MBA programs, law school, bar study, medical school, medical residency, dental programs, dental residency, and other health profession programs. However, this lender no longer offers a career training loan.
Loan terms
10 to 15 years for Smart Option Student Loan; up to 15 years for law school and bar study loans; up to 20 years for medical school, medical residency, dental school, dental residency, and health professions loans
Loan amounts
$1,000 up to school-certified cost of attendance
Eligibility
Must be a U.S. citizen or permanent resident enrolled in an eligible program. Noncitizens may qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.
Loan Amounts
$1,001 up to 100% of school certified cost of attendance
Overview
INvested is an Indiana company that offers affordable student loans exclusively to state residents. Loans are available to Indiana students and parents who can meet income and credit requirements, or who have an eligible cosigner. Borrowers can borrow as little as $1,001 or as much as the school-certified cost of attendance minus other aid.
INvested provides detailed information on eligibility so borrowers can quickly determine whether to apply for a loan — however, there’s no option to prequalify with a soft credit check. Cosigner release is also available after just 12 on-time payments, considerably shorter than many other lenders.
Loan amounts
$1,001 minimum, up to the school certified cost of attendance
Eligibility
Loans are available to Indiana residents only. Borrowers must have a FICO score of 670 or higher, a 30% maximum debt-to-income ratio or minimum monthly income of $3,333, continuous employment over two years, and no major collections or defaults in recent years. Borrowers who do not meet income or credit requirements can apply with a cosigner.
Loan Amounts
$1,500 up to school’s certified cost of attendance less aid
Overview
Massachusetts Educational Financing Authority (MEFA) is a not-for-profit lender that offers low-cost undergraduate and graduate school loans to students nationwide. While only fixed-rate loans are available, interest costs may be lower than what you see with other private loans.
While you can apply with a cosigner to lock in the best rate possible, removing that cosigner later may be tough. Only one repayment plan allows cosigner release, and you must make four years of consecutive on-time payments and meet other credit and income requirements to qualify.
Loan amounts
$1,500 minimum up to school-certified cost of attendance
Eligibility
Must be a U.S. citizen or permanent resident, enrolled at least half time at a degree-granting, nonprofit institution, and must maintain satisfactory academic progress. Must have no history of default on an education loan and no history of bankruptcy or foreclosure in the past 60 months. Applicants who can’t meet the minimum credit and income requirements may apply with a cosigner.
Loan Amounts
$1,000 to $350,000 (depending on degree)
Overview
Citizens offers a variety of student loan types, including loans for undergraduates, graduate students, and parents. Perhaps the most unique feature of Citizens student loans is the option for multiyear approval. If you qualify, you can apply once and borrow for future years with a more streamlined process that only involves a soft credit inquiry.
Student borrowers can defer payments while in school and for six months after graduating. You can also score a 0.25 percentage point reduction on your interest rate for setting up autopay, as well as an additional 0.25 percentage point loyalty discount if you or your cosigner already have a qualifying account with Citizens.
Loan terms
5, 10, or 15 years for student loans; 5 or 10 years for parent loans
Loan amounts
$1,000 minimum, up to a maximum of $150,000 for undergraduate and graduate degrees; $250,000 for MBA and law; and $180,000 or $350,000 for health care student loans, depending on the degree type
Eligibility
Must be a U.S. citizen or permanent resident enrolled at least half-time in a degree-granting program at an eligible institution. International students can apply with a cosigner who’s a U.S. citizen or permanent resident.
Loan Amounts
$1,000 up to cost of attendance
Overview
Education Loan Finance (ELFI) is a division of Tennessee-based SouthEast Bank owned by Education Loan Finance, Inc., a non-profit whose mandate is to provide access to higher education. ELFI launched in 2015 and offers undergraduate, graduate, and parent private student loans as well as student loan refinancing.
ELFI student loans and refinance loans are available to residents in all U.S. states including Puerto Rico. Borrowers can benefit from no application, origination, or prepayment fees. ELFI also offers flexible repayment terms and competitive rates, however there’s no cosigner release option and the lender doesn’t offer any discounts.
Loan amounts
$1,000 - Cost of attendance
Cosigner release
A cosigner may not be taken off a loan, but the borrower can apply for a new loan without their cosigner.
Eligibility
All 50 states as well as Washington DC and Puerto Rico.
Meet the expert:
Dori Zinn
Dori Zinn is a personal finance journalist with work featured in Huffington Post, Quartz, Wirecutter, Bankrate, and others. She loves helping people learn to be better with money.
