Private Schools- Future
For a student entering dental school in 2022-23, what will it cost? Path32 seeks to answer this question in 3 different ways.
- projected Tuition and Fees for a 2022-23 entering student- the current tuition rates for 2021 are available. We also know that tuition increases every year (tuition inflation). To best calculate tuition inflation for each school, we calculated the % annual increase in Tuition/Fees from 2015 to 2021. We feel each school’s previous tuition increase is the best estimate of their future tuition Inflation.
- projected Loans- this calculates the principal amount of loans that a 2022-23 entering student will have when they enter repayment 6 months after graduation. This calculation turns our Tuition and Mandatory Fees projections into Loans. We factor in loan origination fees and interest. Unsubsidized Loans have an origination fee of 1.057%, while Graduate Plus Loans have an origination fee 4X higher (4.228%). The current interest rate for Unsubsidized Loans is 6.54% (up from 5.28%the previous year). The current interest rate for Graduate Plus is 7.54% (up from 6.28% the previous year). For both loans, interest accumulates on all outstanding principal. The interest is capitalized (added to your principal) when your loans become due and repayment starts, about 6 months after graduation from dental school.
- projected Monthly Repayment- this calculates what a student’s monthly repayment will look like over various repayment lengths. Most students will enter a standard repayment plan of between 7 and 20 years. We provided monthly repayments over various repayment terms- 7 years, 10 years, 15 years, and 20 years. This assumes all Federal Loans are not refinanced privately. Many students choose to refinance their loans with a private lender once their debt-to-income ratio is sufficient to qualify.