Based on recent legislative changes from H.R.1, some dental students, starting July 1, 2026, may have to borrow private student loans to help supplement any other financial aid they are receiving. Whether you have already borrowed private loans for college or think you may have to borrow private loans in dental school, there are important questions you should ask any private lender you are considering borrowing from. We encourage you to work with your school’s financial aid office when borrowing private loans.

The information referenced below should be found in both your promissory note as well as any disclosure statements you receive from your loan provider when you are approved to borrow, when your loan is disbursed and when you enter a repayment plan.

Interest Rate and Capitalization

• What is the current interest rate?
• Is the rate variable or fixed, and if variable, is there a maximum and minimum rate that can be charged?
• If the rate is variable, how often is it reset and how does that impact subsequent payments?
• Are there any discounts on the rate you might be eligible for, such as ACH (automatic debit)?
• How often is accrued and unpaid interest added back to the principal of your loans (which is called capitalization), and is this more frequent during times of postponement?

Repayment Term and Options

• How long do you have to repay these loans after I graduate from dental school?
• Are there repayment options based on income?
• Can I pay more than the minimum payment amount without penalty?

Postponement Options

• How long can you postpone payments, if needed?
• Is there a fee to postpone payments, and is this with a deferment or forbearance?
• Do you have to pay a minimum monthly fee during a postponement period?
• How do you renew your deferment or forbearance if you need to postpone longer?
• How often does interest capitalize during postponement?

Cosigner and Cosigner Release

• Is a cosigner needed for approval and to secure a lower rate?
• Is there a cosigner release provision and, if so, how does it work?
• Is there a minimum credit score and maximum DTI (debt-to-income) ratio you must meet in order to have your cosigner dropped from the loan?
• If you are denied your request to drop your cosigner, can you reapply at some point?

Forgiveness (this is NOT for Public Service Loan Forgiveness)

• Is the loan forgiven in the event of your death or disability?
• If you have a cosigner, are they responsible for the loan in the event of your death or disability?

Important Note: Private student loans are credit based, so it is important to keep your credit as strong as possible as you apply to and ultimately matriculate into dental school. Students tend to have what are called thin credit files, since they have not had a sufficient time to establish good credit. This means that any late payments on items such as credit cards, rent or utilities, etc., can have an adverse impact on your credit. Be sure you pay your bills on time so that you keep your credit as strong as possible!

Summer/Fall 2025