Financing Your Education School of Dentistry

Cost of Attendance Resident Non Resident $ 91,334 $ 128,449

Indirect Cost Resident Non Resident Room and Board $ 26,500 Transportation $ 2,000 $ 2,000 Health Insurance $ 3,600 $ 3,600 Books $ 3,468 $ 3,468 Commuting Expense $ 0 $ 1,200 Total $ 35,568 $ 36,768 Based on living off campus, room and board for Pascault Row and with parents are lower. See SURFS for your individual cost.

Room and Board Item Cost Rent $ 1,500 Utilities $ 250 Parking $ 150 $ 250 Parking $ 150 Food $ 500 Misc. Total $ 2,650

Health Professions Student Loan University of Maryland, Baltimore participates in the Bureau of Health Professions, Health Professions Loan program. To be considered for this loan program, applicants who are U. S. Citizens or Permanent Residents and whose parents are U. S. Citizens or Permanent Residents are strongly encouraged to provide parental income and asset information on the initial submission of the Free Application for Federal Student Aid (FAFSA) For more information on the program, visit our website: http://www.umaryland.edu/fin/awards/hpl.html

Federal Direct Unsubsidized Stafford Loan Types of Aid Available Federal Direct Unsubsidized Stafford Loan Annual Maximum Amount $ 40,500 Current Rate – variable and set each July 1st Aggregate Maximum Amount $ 223,793

Federal Direct Grad PLUS Types of Aid Available Federal Direct Grad PLUS Annual Maximum - the Institutions calculated Cost of Attendance minus any other financial aid received Credit Based Interest Rate variable and set each July 1st

Federal Work Study Need Based Award Awards are based on the Cost of Attendance minus the Federal Direct Unsubsidized Stafford loan eligibility Must complete the FAFSA prior to March 1st Funds may be limited and are not guaranteed annually Students who are awarded can begin work after all required documents have been received but not before mid August

Average Loan Debt 2018 Graduating Class UMB Loans: $ 235,313 Average UMB debt – does not include any prior student loan debt

Sample Loan Repayment Fixed Monthly Payments Loan Debt Standard Repayment Extended Repayment $ 235,313 $ 2,708 $ 1,633 Total Payments under the Standard 10 year repayment - $ 324,959 Total Payments under the Extended 25 year repayment - $ 489,973

Average Salary for Graduates Entry Level $ 74,714 $123,942

Amount Available After Loan Payment Gross Pay $ 5,747.00 Federal Tax $ 990.34 Social Security $ 356.32 Medicare $ 83.34 State Income Tax $ 425.10 Net Pay $ 3,891.90 Loan Payment $ 2,708.00 Available Income After Loan Payment $ 1,183.90

Amount Available After Loan Payment Gross Pay $ 9,534 Federal Tax $ 1,998.20 Social Security $ 591.10 Medicare $ 138.24 State Income Tax $ 729.76 Net Pay $ 6,102.64 Loan Payment $ 2,708.00 Available Income After Loan Payment $ 3,396.64

Before Accepting a Loan Do I need to borrow? How much do I need to borrow? Do I have other resources available? Have I created a budget? What are my expenses? How many times will I go out?

Budget Tool YOUR MONTHLY BUDGET Budget Actual Difference   Budget Actual Difference INCOME SOURCES Financial Aid Distribution 1 Work Study 2 Other Income: 3 4 TOTAL INCOME-TOTAL lines 1 thru 4 5 FIXED EXPENSES Rent/Mortgage 6 Renter's or Home Owner's Insurance 7 Student Loan Payment 8 Savings Contributions 9 Car Payment 10 Car Insurance 11 Car Fuel 12 Parking 13 Cell Phone 14 Home Security 15 Cable, Internet, Home Phone 16 Electricity &/or Gas 17 Water 18 Groceries 19 Wal-Mart/Target(personal items) 20 Credit Card Payment(s) 21 Prescriptions 22 Child Care 23 Other: 24 25 TOTAL FIXED EXPENSES-Total Lines 6 thru 25 26 DISCRETIONARY EXPENSES Car Maintenance 27 Tithing/Charitable Contributions 28 Magazine Subscriptions &/or newspapers 29 Organizational dues or fees 30 Personal Care: Hair 31 Nails & Waxing 32 Gym Membership 33 Clothing 34 Dry Cleaning 35 Entertainment: Travel (airfare, bus, train, car rental) 36 Dining Out 37 CDs / I-Tunes 38 Movie Rental 39 Sporting Events, Theatre, Concerts 40 41 Pet Care: Insurance Premiums & Co-Pay 42 Food, Grooming and Toys 43 Medical (Vet) 44 Other Expenses: 45 46 TOTAL DISCRETIONARY EXPENSES-Total Lines 27 thru 46 47 TOTAL EXPENSES-ADD Lines 26 and 47 48 MONTHLY SURPLUS (+) OR DEFICIT (-) [Subract Line 48 from Line 5]