Are Dental and Medical Schools worth it?

Many science undergraduate students build up a great resume over the course of 4 plus years to apply to professional schools such as dental or medical schools. However, many of them do not realize the reality of debt they will be in after graduation. The tuition fee for a lot of these professional schools are increasing at an incredible pace, which results many asking, “Is it worth it?”.

Dental schools are among the most expensive professional schools to attend. According to Top Ten Nation, University of Southern California School of dentistry (USC Dentistry), the tuition fee alone is $61,953 per year. However, most students do not get accepted to their choice of dental schools which most likely are in-state-schools thus they will need to add living expenses. The tuition and living expenses together can escalate into almost double the tuition fee. USC for example adds up to $95,467/year. Some others include NYU $93,745/year, UPenn $82,928/year, BU$83,369/year, and Tufts $79,431/year. Medical schools are also among the most expensive professional schools. Published under U.S. News Education,  the tuition alone for Tufts stands at $54,578/year, Temple $54,218/year, and Columbia of $52,659/year.

Even with the huge debt most dental and medical graduates will carry, most undergrad students are led to believe the debt will be paid off in a short amount of time. However, this belief can have serious consequences in their future. Many students are forced to borrow money from the government to pay for their education. As an example, during the 2007-2008 year, 65.6% of 4 year-undergraduate students, graduated with $23,186 in debt. According to ADEA, the average debt for newly graduates of dental school in 2006 was $124,700 to $174,241. Medical school graduates aren’t far off as among 112 medical schools, 2010 graduates averaged $145,020 to $204,000 in debt. If a student with more than $20,000 in debt choses to go to dental or medical school, that debt increases dramatically. Let’s not forget the interest that comes along with the borrowed amount. It is not uncommon to see a newly dental or medical graduate with a staggering $400,000 plus debt.

Data from American Dental Education Association (ADEA) shows the uphill increase on average debt of dental graduates over the span of 16 years

The annual median salary of dentists (DMD or DDS) is $153,290. The lowest 10% earning $55,250 per year while the upper 10% taking over $166,400 per year. The average salary of a medical physician (MD) ranges from $126,329 to $211,357. This is a very comfortable amount to live off however, if you factor in the house, monthly utilities, car payments, and other basic necessities to live, it will take many years just to pay off the debt.

A career in dentistry or medicine can be a very rewarding and meaningful profession. However, one should really think about what his or her reasons are before entering the long road in becoming a dentist or a medical physician. If living lavishly with a Mercedes or BMW after graduation is the only reason, then the end result might be disappointing.

Below is a documentary on Youtube by username EXoMARTRIXTV, on student loan crisis in the US (10:40 relates specifically to this topic) :

-Ryan Song

video used: https://www.youtube.com/watch?v=Ww4m8GUK69E