Dental School Loans: How to Refinance and Consolidate

For you to be able to become a Dentist, you must pass through Dental School, however, this will be possible if you have the means to sponsor the expenses. Below we shall be explaining to you the Dental School Loans and How to Refinance and Consolidate

It is understood that finance is one of the major problems that students, especially those hoping to become dentists. For this reason, we are going to talk about Dental School loans and how to refinance and consolidate them in this article. Let’s get down to it!

Dental School Loans

Dental student loans are loans, either private or federal graduate school loans assessed by students in the dental profession who have shown a considerable amount of financial needs.

There are various federal loan programs available to dental students, and private lenders also give out dental loans that meet certain criteria according to the lender’s policy, although federal loans are according to data the most relied resource relied upon by dental students who assess dental loans. Some types of loans available to dental students include:

  • Federal direct plus loans: This type comes as a supplement to borrowing for other loan programs the dental students may have enrolled for. Interests are fixed for the life of the loans. This is usually the advisable first point of call when a student is planning to assess loans. This loan usually serves as a basis for many dental student loan portfolios.
  • Loans for disadvantaged students: As the name implies, this is a type of dental and health professional loan mainly aimed at students with a disadvantaged financial and social background. Dental students in this category are advised to contact their financial aid office to seek out ways of applying for this type of loan.
  • Health professional students loans: This type of student loan is issued by the Department of Health and Human Services, aimed at students in the health profession.

Eligibility Criteria for Dental School Loans

The main eligibility criteria for the dental student loan is being a student of higher learning pursuing a professional career in dental services. Several lenders have their eligibility criteria.

To be eligible for federal dental loans, you should fill out the Free Application for Federal Student Aid form, and submit your tax information however, if you are applying for Federal direct plus loans and Federal Direct Unsubsidized loans, you do not need to submit tax information. The student must have a considerable pass rate as deemed fit by the school.

Repayment Options for Dental school loans

The following repayment option exists for dental students, who wish to assess dental loans while in graduate school:

  • Standard repayment: This type of repayment option holds you off from making any type of repayment when you are in school, you only start to make payments after the period of grace which comes six months after graduation.
  • In-school fixed repayment: This type of loan repayment option allows you to make a certain stipulated percentage of repayment monthly while in school so that after school accruing interest from the rest of the loan will be smaller.
  • In-school interest-only repayment: This repayment option allows you to make only interest payments monthly so that at the end of your grace period, the cost of your loan amount would be reduced, also this payment option if followed the latter allows you some percentage deduction in interest.

Also Read: Study in America Without IELTS or TOEFL in These America Universities

Refinancing your Dental School Loans

Before attempting to refinance your dental loans, there are various things you should look out for and try to understand., they include:

  • The type of loans you have: The type of loans, including the volume of your debt status, will determine if you qualify to refinance your loan with any lender. Add up the total cost of loans you currently have, understand the level of interest, and decide if refinancing will be the best step to take in your loan journey.
  • Accruing interest: While calculating the new loan cost, include total interest (that would be paid over the life of the loan) and any origination fees. The total cost of the new loan should be less than the remaining interest that would be paid on the existing loan. To get the best rate, you will want to have an idea of where your credit stands.
  • Your future expected earnings: It is important to calculate your future expected earnings and properly understand what it will take to refinance your dental student loans, understand how you can pay back the accruing interest from your expected earnings, etc.

How to Refinance your Dental School Loans

  • Contact a lender: The first step to refinancing your dental student loan after doing due diligence as to which lender to refinance with, it is best to contact the lender and understand their unique terms and conditions.
  • Calculate the total cost of the new loan: Calculate the total cost of the new loan to do what works, and is best for you. You can use a loan calculator, or contact an expert.
  • Know what you stand to lose and gain: Understand the refinancing process with your new lender, know what benefits you lose from refinancing your dental loans, and compare them with the gains. If the loses the gains, you probably want to explore other loan options.

Consolidating your Dental Student Loans

Consolidating your student loans would be the best option if you as have assessed various federal loans and is looking toward lapping all payment into one big payment as consolidation involves using a larger federal loan to pay off all other smaller federal loans to have one single debt.


Dental school loans are for every eligible dental school student, they could come from federal institutions or private lenders. Wherever you assess your dental student loans, understand when it’s best to refinance or consolidate and avoid situations that throw you into confusion financially.

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