Abstract
Dentists face significant financial challenges due to educational and practice-related loans. Effective debt repayment strategies are essential for financial stability and long-term success. Dentists should prioritize high-interest debts and explore consolidation or refinancing options to simplify debt management and reduce interest costs. Popular repayment methods include the "snowball" and "avalanche" methods, focusing on either debt balances or interest rates. Income-driven repayment plans for federal educational loans offer flexibility and potential forgiveness. Financial literacy, budgeting, emergency funds, and professional advice are key to successful debt management.
Recommended Citation
Patel, Amrita DDS
(2024)
"The New Professional: Debt Repayment Strategies: What New Dentists Should Know,"
The Journal of the Michigan Dental Association: Vol. 106:
No.
10, Article 7.
Available at:
https://commons.ada.org/journalmichigandentalassociation/vol106/iss10/7
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