Dealing with Debt III
What to do
THE NEXT DDS
Learning Objectives:
Upon hearing this podcast, the listener should:
- Find some helpful tips on dealing with debt incurred from dental school tuition
- Better understand how to handle large amounts of debt
This is the third and final installment of the three part podcast series Dealing with Debt. For an introduction to this topic, we suggest you check out "
Dealing with Debt I: Understanding and Managing Debt After Graduation" and for tips on what not to do, check out "
Dealing with Debt II: What not to do". Understanding how not
to handle debt is an ideal introduction to managing your debt. Many new graduates, even those with dental
school loans exceeding $150,000, will become practice owners within their first
three years after graduation. This is
true as long as they avoid the common mistakes of many new graduates.The average practice owner earns three-to-four times as much
income as an employed dentist.
Therefore, your school debt will best be handled by significantly
increasing your income. Furthermore,
very few new dentists can earn enough money as an associate to pay against
their student loans and still maintain anything but a minimal standard of
living.
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