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Repaying Loans

Loan Repayment Programs

The American Dental Association has compiled a list of state and federal loan repayment and forgiveness programs ⤷ for which dental graduates may be eligible.

Six months after you leave school, you will be required to start making monthly payments on your student loans. The federal Direct Loans program offers several repayment plans⤷. You can use one of the Direct Loans repayment plan calculators⤷ to help determine the best option for your situation. The ADEA also has a Loan Repayment Calculator⤷.

Deferments

D.M.D. Students

D.M.D. students are eligible to defer student loans during their dental training period. Deferment is automatic for D.M.D. students.

Advanced & Graduate Students

Advanced education students (graduate students, residents, and fellows) are eligible to defer student loans during their postdoctoral dental training period.

The Office of Education serves as a liaison between you and your respective financial institutions for processing of these loan deferments. For additional information, please direct inquiries to:
Assistant Dean of Advanced & Graduate Education
University of Florida College of Dentistry
P.O. Box 100407
Gainesville FL 32610-0407
352-392-2949

Procedure for filing loan deferments for advanced education students

  • Obtain an In-school Deferment form from your lending financial institutions. The most frequently used lender is the federal government Direct Loans Services⤷.
  • Complete, sign, and send the form to:Office of Education, Advanced & Graduate Education University of Florida College of Dentistry P.O. Box 100407 Gainesville FL 32610-0407or drop off in Room D3-11 for processing.
  • A copy is kept in your academic record in the event documentation is needed.

Loan Consolidation

  • Loan consolidation is the process of paying off or “refinancing” several loans with one new loan.
  • Many students consolidate for convenience. Students that have borrowed from multiple loan servicers may find it much easier to deal with and make payments to one loan servicer.
  • Consolidation may also allow students to capture a lower fixed interest rate on their loans. The lower fixed rate reduces both monthly payments and the total repayment amount.
  • One of the keys to successful consolidation is understanding the terms and conditions of the new loan and being aware of the benefits that you stand to gain by consolidating.
  • If you think you may benefit from loan consolidation, visit the Federal Direct Consolidation Loans Information Center⤷ for more information.