footnote 1. Explore federal loans and compare to make sure you understand the terms and features. Sallie Mae Dental School loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.
footnote 2. This information was gathered on 08/19/22 from https://www.petersons.com/scholarship/american-dental-association-foundation-dental-student-scholarship-program-111_149978.aspx.
footnote 3. This information was gathered on 08/19/22 from https://www.adea.org/awards/.
footnote 4. This information was gathered on 08/19/22 from https://www.aaphd.org/the-herschel-s--horowitz-scholarship.
footnote 5. This information was gathered on 08/19/22 from https://nhsc.hrsa.gov/scholarships/.
footnote 6. This information was gathered on 08/19/22 from https://www.goarmy.com; https://www.navy.com/what-to-expect/education-opportunities/graduate-professional-degree-opportunities; http://www.airforcemedicine.af.mil.
footnote 7. This information was gathered on 08/19/22 from https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service.
footnote 8. Example of a typical transaction for a $10,000 Dental School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 57-month in-school and separation period, it works out to 11.09% fixed APR, 57 payments of $25.00, 238 payments of $153.63 and one payment of $84.72, for a total loan cost of $38,073.66. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years.
footnote 9. If at any time during the repayment period you enter an approved residency or internship program, you may contact us to request the Residency/Internship Deferment. To apply for the Residency/Internship Deferment, you must submit a form completed by you and an official from the residency or internship program to us for consideration. If you receive the Deferment, the Current Amount Due you will be required to pay each month during the deferment period will reflect the same repayment option that applied to your loan during the in-school period. Deferment periods are issued in up to 12-month increments. You can receive a maximum of four 12-month deferment periods (48-month maximum). Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.
footnote 10. Advertised APRs for Medical School Loan and Dental School Loan assume a $10,000 loan with a 4-year in-school period. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
footnote 11. Savings based on a typical loan to a first-year graduate student.
footnote Sallie Mae does not provide, and these materials are not meant to convey, financial, tax, or legal advice. Consult your own financial advisor, tax advisor, or attorney about your specific circumstances.
footnote Information advertised valid as of 3/27/2023.
footnote External links and third party references are provided for informational purposes only. Sallie Mae cannot guarantee the accuracy of the information provided by any third parties and assumes no responsibility for any errors or omissions contained therein. Any copyrights, trademarks and/or service marks used in these materials are the property of their respective owners.
footnote FAFSA is a registered service mark of U.S. Department of Education, Federal Student Aid.