Dental School Loans

[kristen_prays]

So i’m getting ready for dental school and going to apply however, many students graduate having a 350-500k+ debt. I’m sure i’m not able to pay this, neither are my parents so i’d have to get a loan. Does this make it haram for me to get a loan since they include intrest/riba? Am I allowed to pay this intrest, then when i’m earning I donate the same amount towards charity? I know I have a US military option, but i’m most likely not going to do that due to parents, and religion purposes of course. I don’t want to be deployed at an area such as Palestine which the US is against, and things like that. And it’s a life or death situation so it isn’t a 100% guaranteed i’m going to make it back as a whole.

 

[cautiouslittlehope]

@kristen_prays If you really want to pursue this career path, then try to do extensive research. I hope you have stellar stats and a top candidate. Having said that, I can offer you a couple of suggestions:

1. Secure the $200K from your parents' friend;
2. Check out https://acceducate.org/ and see if you can apply and get funding;
3. Try to find grants, scholarships, sponsors, etc.
4. Consider MD/PhD path. Read this thread:
   https://www.reddit.com/r/mdphd/comments/xh16m2
   and keep monitoring this sub: https://www.reddit.com/r/mdphd/
5. Where are you from? Check out dental schools there and learn if you can get your degree there and practice in the US (I used to know tons of Indian medical students using this method; no firsthand experience);
6. Do more research;
7. If everything fails, then carefully evaluate your options for the remaining $200K. As in you may be able to get a loan and pay no interest up to certain number of months after you graduate. Have a clear plan if you or your parents will be able to save up the loan amount while you are completing your degree so that you can pay it off before paying interest.

Hope this helps.

 

[annie28]

@cautiouslittlehope NHSC Scholarship

 

[lauraallison48]

@kristen_prays If you have an interest for serving underserved communities, look into the NHSC! theres also loan repayment options when you graduate later on if you dont want to commit to anything while you’re in school.
Also, you’d be surprised at the scholarship opportunities your school will offer. always complete your fafsa early yearly, you may get random generous grants.
In addition, pay attention to your financial aid deadlines, i always used to return any unused money each semester, that money added up very quickly throughout the years and im grateful did that (after 120 days of disbursement, theres a specific time frame that you can return money without a penalty each semester, ask your financial aid advisers about the details when you start)

 

[oldaussie]

@lauraallison48 Can i pm you some qs about nhsc?

 

[jahred]

@kristen_prays As others have mentioned Look into NHSC scholarship or student to service loan repayment program. I did student to service program and I had good experience

 

[carlx21]

@kristen_prays Yes it's haram and "donating" to charity doesn't fix it. You might have to look for another option if there is no way to pay for medical (dental) school without interest.

 

[kristen_prays]

@carlx21 The thing is there is no other way. Only way is to take half from a parents friend from someone wealthy mashallah, and take the other half in loans. I came to the US 6 years ago, and hard to believe but my father was a uber driver working for the whole day just to provide for the family. Luckily he has a business now Alhamdulilah but i’m not sure what i’d do for loans. My father told me, since there’s no other choice Allah forgives. Problem is that your the one choosing to pay interest.

 

[carlx21]

@kristen_prays Allah will not punish you for not becoming a Dentist. However, there is punishment for dealing in Riba. To deal in Riba is worse than having intercourse with one's own mother. You can be a mechanic, Uber driver etc as long as you are not dealing in interest. That's better for you. Also, there is another part that people don't think about. The fact that a believer's soul doesn't rest with debt. If you die with a 309k loan, how soon do you think it will be paid back after you die? Do you already know when you will die?

 

[lightangel]

@carlx21 Touch grass

 

[resjudicata]

@kristen_prays just do it. you would be stupid to leave to opportunity. ignore the lazy and jealous who will scream riba at you because they have nothing for themselves.

 

[cautiouslittlehope]

@kristen_prays How much do you need?

 

[kristen_prays]

@cautiouslittlehope It depends on the school, but definitely nothing over 350-400k

 

[princesst1]

@kristen_prays https://www.lendingtree.com/student/cheapest-dental-schools/

1) Your only options to avoid riba is get a halal loan.

Since you im assume you are not a US citizen , can you get loan from your home country? Assuming your home country is a Muslim country.

2) obtain as many scholarship as possible and pace out completing your studies so you can work to earn money to pay for university.

3) have somone else obtain a loan and have them.loan you the money. This how islamic banks function, they take on the sin of riba and loan you the money without riba.

 

[levi]

@kristen_prays I think alot of the advice that is being given here is similar to what I heard taking out medical school loans. I have some opinions on the matter as someone who went through this.

1. For starters graduate school tuition have very little options for grants or scholarships. For schools like dental and medical school tuition they actually give the full rides to people from very rich families, its the opposite that you see in undergrad. Its usually the kids that went to an ivy leage for undergrad and have XYZ crazy extracurriculars that no regular person can get that get the full ride to the state medical school. That being said can you get a full ride being from a regular background if your a rockstar? Anything is possible but I personally have not seen it.
2. The option to just not pursue higher education in the west because your family isnt wealthy is IMO something that will hurt the Ummah. Yes riba is haram no doubt about that but what I dont understand from that argument is that living in the west is just haraam then. There are so many aspects of living in this country that deal with interest. For example insurance is widely accepted by scholars to be part of the riba world. In order to live in this country you are required to have car insurance and rental insurance for an apartment. There are very few options to live without a car here and its not realistic. So scholar have stated that their are concessions because the religion is not supposed to be a hardship. So if that is the case then education is a human right and is extremely important. We have benefited from the amount of muslim doctors in this country especially when it comes to womens healthcare. So IMO when someone has the argument that you should not pursue higher education to avoid the loans in the west then my response is that is a vaild opinion if you also believe it to be haram to essentially live in the west and you dont currently live here or plan to, otherwise it seems very hypocritical and lacks nuance.
3. if you can crowdsource or get a loan from a family member that would be great however keep in mind that if you take federal loans from the government in the US it allows for things like disability or death in which your loans are forgiven. Also you can get loan forgiveness for work in public service. If something happens and you cannot complete your education or you become ill then that person who lent you the money is just screwed.
4. The idea of going to another country for school can be done but it is a hard road back to the US and it is not guaranteed, if you have that option then look into it but not all of us have that option.
5. Its an uncomfortable situation to be in no doubt but I believe in trying to lessen the bad situation. So if you decide to go this route, I would advise dont adopt the common mentality and disregard your loan obligation. Go to the cheapest school you can find. Take out ONLY federal loans, there are numerous conditions that make it a much better option. If the federal loans dont cover the whole amount then really rethink things becuase that is a very high debt burden. When you complete your education your loan repayment is priority and dont stretch it to 10+ years that most people do. I hope that those of us who chose to go down this road are forgiven and that we are making the right choirce. Its a hard one for sure and one that I resent deeply.

 

[resjudicata]

@kristen_prays Brother, just take the loan. Imagine how much good you can do as a dentist.

Don't borrow from any individuals.

 

[kristen_prays]

@resjudicata I’m willing to build a masjid someday Inshallah. And my father said if I get a loan, he’ll figure something out to pay off the debt before paying the interest fees

 

[lifesprophet]

@kristen_prays What about a cash out refinance? Guidance offers that option

 

[progressivepresbyterian]

@kristen_prays Army, Navy, Air Force or NHSC scholarship. I took out a loan b/c no one has that type of money (that I know of) and for higher education, the options for scholarships are very slim. Being 6 years out I have been EXTREMELY aggressive in paying off my loans. Being a dentist we are capped being an associate with our income. And opening your own practice, you'd NEED another loan to open that up.

If I were to go back, I would do medicine. That's the route i suggest to most kids who want to go into healthcare, unless your mom or dad is an established dentist that will give you their practice. If not, dentistry isn't the best profession out there for Muslims esp considering the huge amounts of debts with limited ROI.

The US is a debt-ridden society. It actually functions and works on debt. From homes, schools, businesses, etc. They don't care about taking out loans with lots of interest b/c they'll leverage it with other debts and interest. As muslims our beliefs don't align with that whatsoever.

If you truly want to go into healthcare, go into medicine. And go the army, navy, air force, or NHSC route.