This document summarizes information about student loans for dental students at Tufts Dental School. It discusses the types of federal and private student loans available, as well as the costs of tuition and living expenses. It provides details on loan terms and limits. The document also offers tips for managing costs, such as creating a budget, seeking additional funding sources, and monitoring existing loans. Resources for loan repayment programs and online information about student loans are also listed.

1. Tufts Dental School
Office of Financial aid

2. Let’s Talk About……
 Types of Student Loans
 Cost of Education
 Resources for Students

3. Student Loan Basics

4. Types of Student Loans
 Federal
 Private
 Institutional (Tufts)

5. Federal Student Loans
 Federal Direct Subsidized Loan
 Federal Direct Unsubsidized Loan
 Federal Direct Graduate PLUS Loan
 Federal Perkins Loan
 Federal Health Professions Student Loan (HPSL)

6. Federal Direct Subsidized Loan
 6.8% non-accruing, fixed interest rate
 Annual maximum is $8,500
 Aggregate maximum is $65,500 (including undergraduate)
 Six-month grace period before repayment & interest
accrual begins
 1% origination fee (with automatic .5% fee-reduction)
 **No new Direct Subsidized Loans will be originated for
graduate and professional students after July 1, 2012**

7. Federal Direct Unsubsidized Loan
 6.8% accruing, fixed interest rate
 Annual maximum pro-rated to reflect the number of
months a student is enrolled. Twelve-month maximum
(D14 & D13) is $47,167 (minus Subsidized eligibility)
 Aggregate maximum of all Direct Loans (including
Subsidized) is $224,000 (includes undergraduate)
 Six-month grade period before repayment begins
 Interest capitalizes at the end of the grace period
 1% origination fee (with automatic .5% fee-reduction, this
benefit ends 7/1/12)

8. Federal Direct Graduate PLUS Loan
 7.9% accruing, fixed interest rate
 No annual/aggregate maximum—designed to “fill in the
gaps” left over after all other sources of financial aid
 Approval is based on a credit check
 Six-month post-enrollment deferment before repayment
begins
 Accrued interest capitalizes the day after you academically
clear and again after the six-month deferment period
 4% origination fee (with 1.5% automatic 1.5% fee-
reduction, this benefit ends 7/1/12)

9. Federal Perkins Loan
 5% non-accruing, fixed interest rate
 Campus-based loan
 Current annual maximum is $5,000
 Nine-month grace period before repayment or
interest accrual begins
 No origination fee.

10. Federal Health Professions Student
Loan (HPSL)
 5% non-accruing, fixed interest rate
 Campus-based loan
 Current annual maximum is $10,100
 Twelve-month, post-enrollment grace period before
repayment and interest accrual begins
 No origination fee

11. Private Education Loans
 Interest rates, annual/aggregate maximums, fees, and
approval criteria vary from lender to lender
 It is important to do your research before applying for
a private loan
 Keep in mind that applying with a co-signer may
help you to receive a lower interest rate.
 Direct-to-consumer (such as Residency & Relocation
Loans)

12. Institutional Loans
 Tufts Loan Program
 7% non-accruing, fixed interest rate
 Current annual maximum is $9,100
 Six-month, post-enrollment grace period before
repayment & interest accrual begins
 No origination fee.

13. Student Loan Basics

14. Direct Costs
 For 2011-2012, these charges are $72,235 (D14), $67,707
(D13), and $67,587 (D12)
 These are set costs. Little to no “wiggle room.”
 Tuition and fees generally increase between 4-6% each
year.

15. Indirect Costs Details
DMD 2014 DMD 2013 DMD 2012
Books & Supplies $1600 $725 $0
National Board I 525 0 0
Allowance
National Board II 0 610 0
Allowance
Regional Board 0 2050 0
Allowance
Rotation 0 100 300
Transportation
Living Expenses (Off- 25,200 25,200 18,900
Campus)
Loan Origination Fee 471 471 405
TOTAL $27,796 $29,156 $19,605

16. Monthly Living Expense Budgets
On-Campus Off-Campus Living with
(Dorm) (Apartment or Parents or
House) Relatives
Rent/Dorm $897 $1,225 $275
Charge
Utilities 50 200 50
Food 475 350 225
Transportation 65 100 175
Miscellaneous 213 225 175
TOTAL $1,700 $2,100 $900

17. Managing Your Cost of Education
 So how do you keep borrowing at a minimum?
 Direct costs are unavoidable, so the key lies to
managing your indirect costs that are associated with
you being here at Tufts. The power is yours!

18. Create a Realistic Spending Plan
 Do you need that one bedroom apartment downtown?
Boston vs. Allston vs. Malden vs. Cambridge
 Craiglist, Craigslist, Craiglist
 Do you need to have a car in the city?
 Can you save money by purchasing a semesterly T-Pass?
 Can you live with one roommate? Two roommates? (bonus
points if they come with a pet you can enjoy )
 Netflix vs. Cable vs. Hulu vs. Amazon Prime
 Cell phone plan—how many minutes do you really use?

19. Seek Outside Sources of Funding
 Apply for EVERYTHING (as long as you don’t have to pay!!)
 The Internet is a great resource—just be careful about
sharing your information
 Health Professions Scholarship & National Health Service
Corps
 Does your employer offer a scholarship/loan for coming to
dental school?
 Does your undergraduate institution? High school?
 Alumni groups often offer grants/scholarships to students
seeking to further their education
 Pay attention to your tufts.edu email!! Scholarship
opportunities are sent out by the school, we will not chase
you down!

20. Remain Familiar With What You
Have Borrowed
 Many students are “numb” to their debt load
 Remember that you can return funds OR request more
(possibly) as needed throughout the year—be in touch
with us!
 Don’t just blindly sign your award letter—can you
reduce your spending to increase your Grad PLUS
Loan? Your Unsub?
 Always remember that loans must be paid back. You
are borrowing against your future income. Living
cheaper now means you can have more room for fun
stuff later!

21. Student Loan Basis

22. National Student Loan Data System
 www.nslds.ed.gov (will need FAFSA PIN to log in)
 Check outstanding principal and interest on all
(graduate and undergraduate) loans
 Contact information on all loan servicers
 You will need this information when you enter
repayment—it is a good idea to familiarize yourself
with it NOW

23. Loan Repayment Programs
 Tufts LRAP – http://lrap.tufts.edu
 State:
- Check with your state’s Public Health
Department for available programs
 Federal:
- National Health Service Corps
http://nhsc.hrsa.gov/loanrepayment

24. $ALT
 www.saltmoney.org
 Created by American Student Assistance (ASA)
 Partnership with Tufts Dental so all currently enrolled
students have free membership (for life!!)
 Source of financial information for student loans &
more
 Track loans, plan repayment, learn money smart
strategies, find deals, job searches
 Will receive activation information ~ February 1

25. Federal Student Aid On The Web
 www.studentloans.gov (will need FAFSA PIN to log
in)
 Information on applying for, managing, and repaying
federal student loans
 Good source for announcements and current
information on updates to federal student aid
programs
 Links to other resources!

26. Direct Loan Consolidation
 www.loanconsolidation.ed.gov
 Resource for federal loan consolidation information,
including the pros and cons and impact this will have
on you
 Place to apply for a Federal Direct Consolidation Loan

27. Access Group Financial Aid
 www.accessgroup.org
 Resource specially geared towards graduate students
(including health professions!)
 Information on student loans, financial aid, and
financial literacy (credit, borrowing, saving, spending,
etc.)
 Tons of FREE materials that can be helpful with real-
world issues

28. FinAid!
 www.finaid.org
 Great source of general financial aid information
 Information on both federal & private loans
 Helpful financial aid calculators – how much will you
be spending over the life of the loan?

29. Tufts Dental Financial Aid Office
 We are here to help you! I love answering questions
from my students 
 Rosemary Hilliard, financial coordinator for the
classes of D2016, D2014, D2012, and all DIS students –
rosemary.hilliard@tufts.edu, 617-636-3850
 Nikki Lowe Lane, financial coordinator for the
classes of D2015, D2013, and all PG students –
nikki.lowe@tufts.edu, 617-636-2153