Organized Dentistry Thanks Sponsor of Bill to Address Postgraduate Student Loan Interest Crisis
In an effort led by the American Dental Association, AGD and other members of the Organized Dentistry Coalition sent a letter to Rep. Judy Chu (D-CA) in support of her legislation H.R.4631, the Protecting Our Students by Terminating Graduate Rates that Add to Debt (POST GRAD) Act.
The legislation reinstates eligibility for graduate and professional students with financial need to receive Direct Subsidized Stafford Loans, which have only been available to undergraduate students since 2012. These loans typically have better borrowing terms and allow the student not to pay interest on the loans while deferring them in school or during a grace period.
Dental student debt has risen exponentially, with many new dentists starting their careers with over $305,000 in loan debt. Many of these new dentists report that their postgraduate debt impacts where and how they choose to practice after graduation.
Impact on General Dentistry: The AGD supports H.R.4631 and other legislation that seeks to help lift some of the academic-related financial burdens of new dentists. Alleviating some of the stress of student loans may be a positive incentive for encouraging new dentists to pursue careers in academia, public service, and in communities that struggle to access dental care regularly.
The legislation reinstates eligibility for graduate and professional students with financial need to receive Direct Subsidized Stafford Loans, which have only been available to undergraduate students since 2012. These loans typically have better borrowing terms and allow the student not to pay interest on the loans while deferring them in school or during a grace period.
Dental student debt has risen exponentially, with many new dentists starting their careers with over $305,000 in loan debt. Many of these new dentists report that their postgraduate debt impacts where and how they choose to practice after graduation.
Impact on General Dentistry: The AGD supports H.R.4631 and other legislation that seeks to help lift some of the academic-related financial burdens of new dentists. Alleviating some of the stress of student loans may be a positive incentive for encouraging new dentists to pursue careers in academia, public service, and in communities that struggle to access dental care regularly.