For many students, the choice between doing a residency and going straight into private practice is a tough one. In today’s world of growing student debt, it’s important to be aware of the costs and benefits of each.
Here’s a simple model. The American Dental Education Association says 2013 dental school graduates had an average debt of $241,000. If you graduate with the average debt and do a one-year residency, your debt will generate around $15,000 in interest during your first year out. (This assumes 6.8% interest rates.)