If you’ve completed dental school, you know that paying those dental school loans can be quite a difficult chore. While some people may be able to pay cash for their education, those types of folks are the exception and not the rule. In fact, many dentists spend quite a few years into their practices paying off their school loans. The debt can be overwhelming to some, even when their dental practices are running successfully. There are some options to help with educational debt. One of the alternatives that many dentists are showing increased interest in is dental school loan forgiveness programs.
Total Debt Forgiveness?
It may sound like its too good to be true, but many state governments have programs set up that will offer total loan forgiveness to medical personnel. That means that many dentists may be eligible for dental school loan forgiveness and not even be aware of it. Imagine having the balance of your dental school loans waived completely. How would something like that add to your bottom line? Probably a lot. If you are a dentist and are looking for a way to get out from under your dental school financial loans, you owe it to yourself to find out more about the options that are available in your state.
What’s the Catch?
We all know the government doesn’t just go around eliminating loan balances for no reason. There’s always certain criteria that must be met. In cases of dental school loan forgiveness, there are some things that must be done. The most common types of forgiveness available for loans are contingent upon doing some type of community service. For licensed dentists, this means performing dental work in underprivileged areas where dental services are typically not available. By simply taking some time to serve people in need, you could be qualified for dental school loan forgiveness programs.
It’s a Win-Win Situation
It’s wonderful to be able to offer your dental expertise to people who may not be able to afford your services. And if you think about it, its just like getting paid because you are working to get your loans forgiven by doing this charitable work. You get to help people in need, and the government takes a lot of financial burden off of your shoulders. This is a great situation for everyone involved.
Be sure to check with your local government representative to see if this type of dental school loan forgiveness programs is available in your state. By finally getting rid of those big student loans, you’ll see your practice prosper and profits soar. As you’re doing your service to the community, you’ll also be helping to brighten the smiles of people who might never get professional dental assistance without you. You help the community and you help yourself, then the government helps you. Remember, every state is different, so find out what the requirements are in your area.
Here are some links to Dental Loan Forgiveness programs: