Home Cost of a Degree Are High Costs and Student Debt for Dental School Justified?
Are High Costs and Student Debt for Dental School Justified?

Are High Costs and Student Debt for Dental School Justified?

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A recent trip to a dentist generated a discussion about my blog and articles that I wrote about the high cost of medical school and law school. The dentist asked me if I had looked at the amount of debt that dentists incur for dental school. He said that the amounts that recent dental school graduates borrow are outrageous.

Similar to my analysis of medical school graduates’ and law school graduates’ debt, I went to the tool developed by the Wall Street Journal (WSJ). When you pull up the chart for professional doctorates/dentistry, you can see that my dentist was correct. None of the graduates of the dental schools listed in the tool have a median income level that exceed the median debt.

dental school debt Boston

As I learned from my previous review of med school and law school data, there are dental schools that are not reported in the WSJ database sourced from the College Scorecard. Based on my comparison of the list to a list of accredited schools of dentistry, there are approximately 14 dental schools not included.

The debt-to-income range of dental school graduates varies from 1.1 at East Carolina University to 4.39 at the University of Southern California. Much of this disparity in the ratio is due to the level of debt incurred by graduates.

For instance, East Carolina dental school graduates have a median debt of $131,425, compared to USC’s graduates’ median debt of $397,871. Median earnings for East Carolina’s graduates are $119,805 versus USC’s graduates’ median earnings of $90,678.

That’s a ridiculously large difference to explain. I looked at UCLA and UC-San Francisco data and noted that their graduates’ median borrowings are $182,001 and $186,578 respectively with debt-to-earnings ratios of 2.5 and 2.55.

A percentage of dentists specialize and there are residencies in areas like periodontics, orthodontics, and maxillofacial work. That could decrease a percentage of the graduates’ median earnings for the first two years as it does the median earnings of medical school graduates.

The Department of Education does not separate dental school graduates from other professional doctoral degrees like optometry, pharmacy, and physical therapy. However, it reports that 75% is the average percentage of graduates in those fields who borrow for graduate school versus 81% for medical school graduates.

The list of dental schools that are not included in the Wall Street Journal tool are:

  • ATSU Arizona School of Dentistry and Oral Health – Mesa, Arizona
  • California Northstate University School of Dentistry
  • Medical University of South Carolina, School of Dentistry
  • Meharry Medical College School of Dentistry
  • Midwestern University College of Dental Medicine – Downer’s Grove
  • Midwestern University College of Dental Medicine – Glendale
  • Nova Southeastern University College of Dental Medicine
  • Roseman University of Health Sciences
  • Texas Tech University of Health Sciences – El Paso
  • Touro College of Dental Medicine
  • University of Mississippi
  • University of New England – Portland
  • University of Pennsylvania School of Dental Medicine
  • University of Utah School of Dentistry

The dentist I visited explained to me that it’s not just the debt incurred for dental school that can be staggering for newly licensed dentists. In addition to graduate student loans, dentists beginning their professional career incur costs for furnishing an office and/or buying a dental practice.

Analyzing debt incurred by graduate students, particularly those attending programs with low admission rates, is complicated. The Grad PLUS student loan program with no caps on how much a student can borrow is partially responsible for the high tuition and related costs at many colleges and universities.

In the case of graduate programs leading to professional licensure, the scarcity of available admissions slots for students is responsible for higher tuition levels as well. Reduced state funding led to higher-than-inflationary increases in tuition and fees for public institutions.

We can argue about the relative impact of the causal factors I mentioned, but it does not obviate the fact that politicians, college board members, college presidents, graduate school deans, and reporters ignored the importance of providing degrees at a cost that could be repaid within 10 years after graduation.

Transparency provided through the data distributed by the Department of Education is a good step. More data such as the percentage of students who borrow, the percentage of borrowings that are paid to the universities versus the percentage borrowed to cover costs of living, and the correction of data classification errors would be helpful.

Ultimately, the pendulum needs to swing the other way providing tuition relief, debt relief, or both. Students’ post-degree earnings must be high enough to repay the total cost of their education, regardless of whether or not they borrowed funds. Let’s keep the discussions going until the problems are resolved.

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Wally Boston Dr. Wallace E. Boston was appointed President and Chief Executive Officer of American Public University System (APUS) and its parent company, American Public Education, Inc. (APEI) in July 2004. He joined APUS as its Executive Vice President and Chief Financial Officer in 2002. In September 2019, Dr. Boston retired as CEO of APEI and retired as APUS President in August 2020. Dr. Boston guided APUS through its successful initial accreditation with the Higher Learning Commission of the North Central Association in 2006 and ten-year reaccreditation in 2011. In November 2007, he led APEI to an initial public offering on the NASDAQ Exchange. For four years from 2009 through 2012, APEI was ranked in Forbes' Top 10 list of America's Best Small Public Companies. During his tenure as president, APUS grew to over 85,000 students, 200 degree and certificate programs, and approximately 100,000 alumni. While serving as APEI CEO and APUS President, Dr. Boston was a board member of APEI, APUS, Hondros College of Nursing, and Fidelis, Inc. Dr. Boston continues to serve as a member of the Board of Advisors of the National Institute for Learning Outcomes Assessment (NILOA), a member of the Board of Overseers of the University of Pennsylvania’s Graduate School of Education, and as a member of the board of New Horizons Worldwide. He has authored and co-authored papers on the topic of online post-secondary student retention, and is a frequent speaker on the impact of technology on higher education. Dr. Boston is a past Treasurer of the Board of Trustees of the McDonogh School, a private K-12 school in Baltimore. In his career prior to APEI and APUS, Dr. Boston served as either CFO, COO, or CEO of Meridian Healthcare, Manor Healthcare, Neighborcare Pharmacies, and Sun Healthcare Group. Dr. Boston is a Certified Public Accountant, Certified Management Accountant, and Chartered Global Management Accountant. He earned an A.B. degree in History from Duke University, an MBA in Marketing and Accounting from Tulane University’s Freeman School of Business Administration, and a Doctorate in Higher Education Management from the University of Pennsylvania’s Graduate School of Education. In 2008, the Board of Trustees of APUS awarded him a Doctorate in Business Administration, honoris causa, and, in April 2017, also bestowed him with the title President Emeritus. In August 2020, the Board of Trustees of APUS appointed him Trustee Emeritus. In November 2020, the Board of Trustees announced that the APUS School of Business would be renamed the Dr. Wallace E Boston School of Business in recognition of Dr. Boston's service to the university. Dr. Boston lives with his family in Austin, Texas.

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