collageThen before we go any further, I suppose I should ask: Are you planning to attend the university? If the answer is yes, then read on for the latest information concerning nyu dental school tuition.
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The direct educational cost of NYU dental school is $395,393 for the 2020-2021 school year.
That number ignores accrued interest, loan fees, living expenses, and tuition inflation. If you add these costs, an NYU Dental degree costs $705,997 for the class of 2024.
For this high cost, NYU Dean Dr. Charles Bertolami has blamed “real horror stories […] that involve excessive [dental student] living expenses.”
The only horror story is the price NYU sets for its dental school degree, which we will break down in detail for you.
NYU Dental School Cost Explained
NYU Dental School removed its cost of living estimate off their website around 2018, presumably because the total amount looked appalingly high. If you check internet archives, you can see NYU estimated about $38,000 per year before that estimate was removed.
We assume above a 6% accrued interest rate, a blended 3% upfront origination fee (from 25% Stafford loans and 75% PLUS loans, and 5% yearly tuition inflation, which has happened virtually every year at NYU.
The total cost of NYU Dental for the class of 2024 without financial help is $705,977 if you borrowed the full amount.
NYU Associate Dentist Salaries Are Not High Enough to Pay For the Degree Without Income Based Repayment
The average associate dentist makes around $120,000 to $140,000 (about $80,000 to $100,000 after taxes). The average NYU dental grad that I’ve worked with owes about $600,000.
Keep in mind you cannot go back in time and borrow at yesterday’s tuition prices. Therefore, take any mention of the student debt of the graduating class with a grain of salt.
Even if you could refinance that debt to 5%, you’d have to pay about $5,800 a month, or roughly $70,000 a year just to make a meaningful dent in the principal.
When prospects and students ask about how they’ll pay back their loans, how can NYU’s dental school say anything but “our graduates from working-class and middle-class families are almost exclusively at the mercy of federal income-based repayment and forgiveness programs for their financial survival.”
Yet students have told me that financial aid and administrators do not tell them that. They even suggest that they’ll “pay it back in no time.” That assertion seems to be at odds with basic math.
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