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Dental School Financial Aid

Article on Dental School Financial Aid

Dental school can be rather expensive and almost all students considering a dental career will need some sort of financial aid to assist them in paying for tuition and text books. It is almost as easy to obtain dental school financial aid as it is any other type of academic financial aid. There are two major types of financial aid for people who are interested in going to dental school. They are need based financial aid and merit based financial aid. These forms of financial aid fall into two very distinct categories, one being gift-aid that never needs to be paid back, and the other is self help aid which has to be repaid at some point, or earned back.

Eligibility

Of the dental school financial aid programs, some of them determine eligibility based strictly on a need basis, while others strictly on a merit basis. In addition, there are certain scholarships that will base their decision on merit, but give a loan amount based on what the student’s need is. In either case, there is usually some sort of assistance that a person can obtain to help them pay their tuition in dental school.

Aid that is Merit Based

Typically a merit based aid is awarded to students on the basis of certain achievements they have made or on certain traits that student may posses. However, not all merit based aid is given solely to students who have astronomical grades. Some schools will offer scholarships in order to keep or enhance their enrollment numbers, in this case a merit based scholarship or grant may be given to a student with average grades.

Aid that is Need Based

In order to determine eligibility for need based dental school financial aid, most financial institutions employ one of two analysis methods to assess a family’s financial capacity, and their ability to pay tuition into dental school, as well as all costs associated with it. The first analysis method is called federal methodology and this is a procedure that was developed by congress in order to calculate a family’s contribution, or FC. The second is called Institutional Methodology and this is another method of calculating FC that is typically used in colleges to assess whether or not an individual is qualified for assistance.

Things that are looked at in Determining Eligibility

Some of the things that are examined in determining a student’s eligibility for financial aid are how much a family pays in taxes, what their employment expenses are, and what they pay for basic essentials. There is also a clause which states that as a students parents get older and have more need of accessing their retirement funds, that an allowance be made.

Once all of these amounts are calculated then things like a family’s total income as well as assets are calculated and the numbers are added up. While the government does believe that the bulk of educational responsibilities should fall on not only the student’s shoulders, but also the parents, they also recognize the need for assistance in many cases. To find out what types of financial aid are available, enquire with the college or university that you have chosen the study at, because each will have different options available.