Educational Debt Management Materials for Dental Hygiene Students
These materials were written to assist the graduating class of 2015 dental hygiene students better manage their student loans and to plan their overall repayment strategies as they prepare for the transition from dental hygiene programs to practice.
There are a number of private lenders and other organizations offering to consolidate or refinance both federal and private student loans for eligible borrowers. While eligibility requirements vary by lender, some private lenders are targeting borrowers with higher or potentially higher incomes, as well as those with at least some history of employment.
Interest Rate Primer: Understanding How Interest Rates Work on Your Student Loans
This Interest Rate Primer is intended to help you understand how the interest rates work on your student loans, along with information on capitalization and how capitalization works on the loans you are likely to be taking out as dental and dental hygiene students. The Primer includes helpful tips on how to reduce the impact of high interest rates and capitalization on repayment.
One of the most important relationships you will have after graduation from your dental hygiene program is with your loan servicer. The more informed you are regarding what you have borrowed, including the terms and conditions of your loans, postponement options and repayment options, the better your relationship with your loan servicer is likely to be. Many dental hygiene graduates in the Class of 2015 will find they have one loan servicer for all their federally owned loans.
This Primer is designed to help you understand what kind of information you will need before applying for a private loan to finance your dental or dental hygiene education. These questions should also be asked of the lender or loan provider of any private loans you may have from college, as it is extremely important to know what happens to these loans during dental school and immediately after graduation. We encourage you to always speak with your Financial Aid Office before taking out private loans.
This Repayment Primer is intended to help you better manage your student loans as you prepare for the transition from your dental hygiene program into your dental career. You will be working with your loan servicer(s) in repayment, so be sure your address and contact information is up to date and pay special attention to any correspondence from loan servicers.
As you graduate and transition into your dental hygiene career, you may be considering consolidation as part of your overall repayment strategy. Consolidation is a process of paying off multiple loans with one new loan. There are advantages and disadvantages to consolidation, and while it is an effective debt management tool for some dental hygiene graduates, it is not appropriate for everyone. We anticipate that many dental hygiene graduates in the Class of 2016 will not need to consolidate their student loans.
Download this PowerPoint presentation explaining repayment strategies for managing your student loans.