It has been said that dentistry is the most expensive medical degree one can seek. A new study out from Ameritech Financial seems to confirm this. Not only is a degree in dentistry expensive, dentists have some of the worst debt-to-income ratios of any advanced degree.
Today, dentists pay nearly 12% of their income to student debt. It will take them an average of fifteen years to pay it off. According to the study, the median student loan balance for a dentist is $236,739 and they earn a median income of $150,000. With financial advisors typically warning people not to take out more debt than they can pay in a year, the median student loans for dentists is 157% of this amount.
Nearly 45 million Americans have student loan debt totaling more than $1.5 trillion. Nationally, student load debt increases by $2,800 every second.
