**Official Pacific Class of 2010**

[armorshell]

How is there not one of these yet? Not that I'm going all-in just yet, but let's just say it's a good bet

Here's to three years!

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[wizziefiend]

I'm in. I also really want the Pacific Apartments.

 

[DrAverageJoe]

Accepted and considering attending.

 

[GoDucks69]

Yeah the Pacific Apartments would be nice. Hey Armor are you still waiting on UW? Their football team is garbage and they have taken this long to show you any love, stay with Pacific. Congrats to everyone that got into Pacific, should be a fun year next year. Now we need to get ihd to jump on board...

 

[in her drawer]

Now we need to get ihd to jump on board...

If you promise me that I can get WICHE, I'll be there. I think the only thing holding me back is the price. I want to be in San Francisco; that's where my heart would be happy. I'm only considering the other places because they are so much cheaper.

 

[sgdorfl90]

If you promise me that I can get WICHE, I'll be there. I think the only thing holding me back is the price. I want to be in San Francisco; that's where my heart would be happy. I'm only considering the other places because they are so much cheaper.

honestly, talk to ucsf, I don't know what's going on with that.

 

[GoDucks69]

If you promise me that I can get WICHE, I'll be there. I think the only thing holding me back is the price. I want to be in San Francisco; that's where my heart would be happy. I'm only considering the other places because they are so much cheaper.

I would except I know absolutely nothing about WICHE.

 

[in her drawer]

I would except I know absolutely nothing about WICHE.

It's a scholarship, of sorts. It makes the tuition comparable to what in state would be. Except if I get it, then I have to go back to AZ to work for four years after I graduate. That's not so bad. The only problem is that there are 76 WICHE eligible students in AZ, and only 10-17 kids will get it.

 

[wizziefiend]

It's a scholarship, of sorts. It makes the tuition comparable to what in state would be. Except if I get it, then I have to go back to AZ to work for four years after I graduate. That's not so bad. The only problem is that there are 76 WICHE eligible students in AZ, and only 10-17 kids will get it.

I'm one of them.

 

[in her drawer]

I'm one of them.

Well...since you're planning to attend with or without the scholarship, how about you let me have it? I mean, wouldn't you want to have me as a classmate? All it will take is your WICHE scholarship!

 

[armorshell]

Unless it's completely random, I'm sure you'll get it IHD

 

[in her drawer]

Unless it's completely random, I'm sure you'll get it IHD

I certainly hope so, man. It would be about a 27k per year scholarship, more than enough to justify turning down Penn's scholarship (plus I'm already getting 10 per from UoP).

 

[djeffreyt]

lucky scholarship bastanrds...

I'm still going though...in the end, I want to go where I will be happy...I've lived with debt before...whats a couple extra zeros behind the debt I already have.

 

[pine88]

I certainly hope so, man. It would be about a 27k per year scholarship, more than enough to justify turning down Penn's scholarship (plus I'm already getting 10 per from UoP).

I went to talk to the WICHE office today, and I'm a little confused. So they just say whether or not we are eligible, and then after we commit, all the schools get together and rank how badly they want us? Does each school get a certain number? How can you compare one schools top choice to another? Plus she said this happens in August, which means we would already be in school.

Help...

Good luck IHD and wizzie (and everyone else...not from AZ ) $27,000/year would sure be nice. With the Pacific scholarship that's over $100,000...I can't even fathom that much money right now

 

[AnonymousADCOM]

you guys talk about the cost. the school is only 3 years, meaning you'll be making money sooner. this quickly offsets the cost.

 

[in her drawer]

you guys talk about the cost. the school is only 3 years, meaning you'll be making money sooner. this quickly offsets the cost.

I never really bought into this mentality. I still call BS on that one.

 

[GoDucks69]

I never really bought into this mentality. I still call BS on that one.

If you take the 4 years that you would have been going to school at another school and look at 4 years at Pacific it makes sense. If you go to Pacific you will be taking out loans for 3 and making money as a dentist for the last one. In a 4 year span the tuition will not be as high but the catch is that you will have to work for that money the last year. That is how I understand it anyway.

 

[armorshell]

you guys talk about the cost. the school is only 3 years, meaning you'll be making money sooner. this quickly offsets the cost.

I call BS big time. First of all, no matter when you start working, you still have to pay off a $300,000 dollar debt. Second, even if you live like a student your first year out, you can at best pay down maybe a few thousand dollars of pure interest.

Well, if you look at it that way, it becomes just about as expensive as any other private school...

 

[in her drawer]

If you take the 4 years that you would have been going to school at another school and look at 4 years at Pacific it makes sense. If you go to Pacific you will be taking out loans for 3 and making money as a dentist for the last one. In a 4 year span the tuition will not be as high but the catch is that you will have to work for that money the last year. That is how I understand it anyway.

I know what you're saying Ducks, and you know I want to be there. I'm not trying to hate on Pacific at all. I totally loved them. It just seems like a shaky argument to me, that's all.

 

[armorshell]

Exactly. Shaky financial argument, but still going anyway. Fantastic school, but expensive

 

[jmick101]

I just thought that I would jump in here. I am stoked to be going to Pacific. Looks like we will have some pretty cool cats going as well, which is great.

As for the selling point of Pacifics three years being a financial advantage, I am not so sure about that. If you mean that you will only be paying three years of living expenses in SF and not accruing additionaly interest on loans, then I am with you. Otherwise, I dunno. But you know what? I dont really care about that, I am doing the Army thing and dont worry about tuition or fees and stuff. But I can understand peoples concern.

The three year advantage for me is that school is only three years. We will be doing whatever while our compadres are still in school, which is pretty nice.

 

[GoDucks69]

Exactly. Shaky financial argument, but still going anyway. Fantastic school, but expensive

I agree that it is shaky. If you have other options that will save you a lot of money then go for it. I dont have those options so it is an easy decision for me.

 

[jmick101]

If anyone want some info about the three year financial argument this guy in this thread makes some pretty good points.
http://forums.studentdoctor.net/showthread.php?t=345158

 

[GoDucks69]

I know what you're saying Ducks, and you know I want to be there. I'm not trying to hate on Pacific at all. I totally loved them. It just seems like a shaky argument to me, that's all.

We know you arent hating on Pacific dude. It is very expensive and trying to save a ton of money makes a lot of sense. Just get that WICHE and we will see you next summer

 

[GoDucks69]

I just read a little of that thread that was posted. IHD I had no idea that Penn offered you that much, congrats man. That is definately a lot of money to pass up. I have a new appreciation for your dilemma, not a bad one to be in although.

 

[armorshell]

I agree that it is shaky. If you have other options that will save you a lot of money then go for it. I dont have those options so it is an easy decision for me.

Personally I'd be choosing Pacific over better (albeit only slightly) financial arrangements. I'm doing this because of three reasons:

1. Pacific is just a darn fantastic school. I do well under a rigorous schedule and the three year curriculum will provide that for me. Pacific also places a decent amount of people into specialties and they have a crazy-go-nuts alumni network. (Okay so that was like 8 reasons)

2. I love San Francisco, and I have quite a few good friends who live there.

3. There is intrinsic value in a year of adult life that I'm willing to pay a few thousand dollars for.

 

[armorshell]

There's also plenty you can do to help work it out so you're not paying exorbitant amounts for the rest of your life.

For example, I plan to live well below my means for my first 5-6 years out and pay off as much of the balance as I can, then refinance the rest of the balance out and invest over it.

It should work, at least in theory

 

[wizziefiend]

There's also plenty you can do to help work it out so you're not paying exorbitant amounts for the rest of your life.

For example, I plan to live well below my means for my first 5-6 years out and pay off as much of the balance as I can, then refinance the rest of the balance out and invest over it.

It should work, at least in theory

I was planning on doing the same. My boss says no and here's why.

Education loans are at like 3-5% from what I've heard. Average investments are historically returning 10%.

He pays the minimum payment over the 30 years and socks the rest in investments and real estate.

Also....when you're in you're 20th year of paying the loan, the percent of income consumed by paying your loan has dwindled.

Assume this:
Present average dentist salary: $150k
Pacific loan payment over 30 years on $300k: $2k
% of "Today's Salary" before taxes: 16%
Future average dentist salary in 20 yrs assuming ONLY inflation adjusted wages (historical 3%): $270,916
Future % of Salary: 8%

A GENERAL rule is that money (cash) is always worth more now. Especially the ability to spend it. That only matters though if it is being spent on sound investments. Businesses often use an accounting method that maximizes tax savings now rather than later by rapidly depreciating assets.

Now if you take the money that was spent on investments and the typical return on them, all of a sudden delaying the low interest education loans isn't so bad.

My parents (not dentists) have lived simply and invested wisely in real estate and now the rental income could easily pay the loans of a dental education if they had gotten one. Just something to think about. It takes a long time but stick the money in rentals rather than your student loans. Eventually you can have stable returns. It can be VERY stressful though...imagine having 10 vacant houses during low market needs on top of those mortgages on top of that pacific loan on top of your own house on top of the practice business loan!!!

*Not saying I look forward to Pacific's debt but it wont be THAT bad and I dont think it will be limiting me substantially in terms of my financial goals. I want to live simply.

 

[armorshell]

The only thing wrong with that is that the interest rate on educational loans is approaching the interest rate on any investments you can make. The staffords are 6.8% and the GRAD plus is 8.5%.

I do understand the argument though, and it's a good one, but there's something to be said for peace of mind, and in the longest of long runs, 5 years isn't that much of a difference.

 

[wizziefiend]

The only thing wrong with that is that the interest rate on educational loans is approaching the interest rate on any investments you can make. The staffords are 6.8% and the GRAD plus is 8.5%.

I do understand the argument though, and it's a good one, but there's something to be said for peace of mind, and in the longest of long runs, 5 years isn't that much of a difference.

Reminds me....interest portions of loan repayments for mortgages are tax deductible at the federal level. Is that the case for educational loans? I was thinking the fed loans might have this but I doubt the private loans qualify.

I also agree with peace of mind. It would be pretty cool to have my loan be very small within 10 years. Knowing my personality thats what'll happen regardless of what the best financial move for my money is. I like the idea of debt free ALOT.

We all know the best financial move is going to a good clinical school so you actually have skills to pay off the loans!!

 

[pine88]

I always thought it was kind of a weak argument too. The number of years you work, and how hard you work during them is kind of arbitrary. Most of us have taken some time off between undergrad and dental school, but personally I don't feel like I've been losing money because it's x # of years without my dental salary. It's kind of a lifestyle choice. Some of us will work till 55, some till 65.
Just like I think Pacific is kind of a lifestyle choice. I don't know about you guys, but the positive environment and the fact that the students seem more happy than at most schools makes a big difference to me.

 

[armorshell]

Reminds me....interest portions of loan repayments for mortgages are tax deductible at the federal level. Is that the case for educational loans? I was thinking the fed loans might have this but I doubt the private loans qualify.

They are for some tax brackets, but not at the tax bracket we should be in as dentists

 

[AnonymousADCOM]

Well, if you look at it that way, it becomes just about as expensive as any other private school...

That's what I meant. Whatever. It's a fantastic school. Congrats.

 

[jmick101]

This has been a really good discussion but I was wondering where everyone is planning on living. I hope to get into the Presidio, but that is because I have a family. If not Presidio, then Sausalito.

 

[GoDucks69]

This has been a really good discussion but I was wondering where everyone is planning on living. I hope to get into the Presidio, but that is because I have a family. If not Presidio, then Sausalito.

I was hoping to get into the Pacific apartments, if I dont get in there I have no idea. I was hoping for some ideas. I've only been to SF a few times and do not know a whole lot about the area.

 

[djeffreyt]

They are for some tax brackets, but not at the tax bracket we should be in as dentists

I'm not sure this is true...one of my friends is a recent UOP grad...I believe he makes a little more than 100,000 right now and his loan interest from school is tax deductible.

 

[djeffreyt]

I have two possible thoughts. I'd like to live in the pacific apartments...

My dentist is a pacific grad and her class was one of the first to live in the apartments and almost the entire class lived in them. She always talks about how fun and more social it made the whole class, so that sounds nice.

But if I don't get in, I might just try to find an apartment in the pacific heights area

If I win the lottery, I'm buying a $700,000 condo in the area and taking a hawaiian vacation for every break between quarters.

 

[DrAverageJoe]

I have two possible thoughts. I'd like to live in the pacific apartments...

My dentist is a pacific grad and her class was one of the first to live in the apartments and almost the entire class lived in them. She always talks about how fun and more social it made the whole class, so that sounds nice.

But if I don't get in, I might just try to find an apartment in the pacific heights area

If I win the lottery, I'm buying a $700,000 condo in the area and taking a hawaiian vacation for every break between quarters.

gonna be hard to find a $700k condo in the area that's bigger than 600 sq ft

 

[1992Corolla]

Man that puts it into perspective...I will be a year ahead of all of you grasshoppers and you will in the next three years, 'catch up' and graduate in the same year.

THAT REASON ALONE should be motivation enough.

 

[armorshell]

Sadly enough I'm probably not going to end up in university housing considering the number of friends with spare rooms I have in the SF Bay area

Did a lot of thinking after the Columbia acceptance today. I'm [---] <-this close to putting University of the Pacific Class of 2010 in giant letters in my sig

 

[pine88]

If I win the lottery, I'm buying a $700,000 condo in the area and taking a hawaiian vacation for every break between quarters.

You can all stay at my place
Actually, I met about 10 UoP 3rd years that were in Hawaii for vacation a few months ago, so it can be done.

I'm hoping for Pacific apartments...btw, any climbers here?

 

[jmick101]

Did a lot of thinking after the Columbia acceptance today. I'm [---] <-this close to putting University of the Pacific Class of 2010 in giant letters in my sig

Just do it man, it feels pretty dang good.

 

[djeffreyt]

Just do it man, it feels pretty dang good.

You know what felt good? Calling UOP and giving them my deposit information (not that I love spending $1000, but I knew it was coming). Then calling all the other schools today to tell them I had accepted another offer and would not be attending their school or coming to their interview. Then going onto Predents.com and putting my status to "withdrawn" one after another until only Pacific was left. Then I walked over to my school bookstore and bought an alumni sweatshirt so I won't freeze to death in San Francisco. That was how I spent the first hour at work today (boss was out sick so i had the run of the place).

 

[pine88]

You know what felt good? Calling UOP and giving them my deposit information (not that I love spending $1000, but I knew it was coming). Then calling all the other schools today to tell them I had accepted another offer and would not be attending their school or coming to their interview. Then going onto Predents.com and putting my status to "withdrawn" one after another until only Pacific was left. Then I walked over to my school bookstore and bought an alumni sweatshirt so I won't freeze to death in San Francisco. That was how I spent the first hour at work today (boss was out sick so i had the run of the place).

lol, that does sound pretty good

 

[jmick101]

Then I walked over to my school bookstore and bought an alumni sweatshirt so I won't freeze to death in San Francisco.

I was going to go and update pre-dents but my wife had already done it for me, so I missed out on that one. I hear you about the sweaters, but I am shopping for Pacific gear now.

 

[GoDucks69]

I am in the process of trying to come up with 1K by Jan.

 

[djeffreyt]

I am in the process of trying to come up with 1K by Jan.

in case you need it...I offer horribly high interest short term loans. I take all sorts of collateral: a nice bike, televisions, musical instruments, first born children.

 

[cbc32]

Pacific 2010!!! I will be there and I am totally stoked about it. Once you get over 100,000 in debt you just put your head down and get to work. It is going to suck paying off any loans, but you might as well go to where you will be the happiest. Three to four years is a long time to be miserable if you go to a school that you don't love only because it was the less expensive option.

 

[wizziefiend]

in case you need it...I offer horribly high interest short term loans. I take all sorts of collateral: a nice bike, televisions, musical instruments, first born children.

People keep questioning Pacific's price tag, but has anyone met a Pacific alum that would have gone elsewhere? Pacific has always been pricey so it must have been an issue for them.

I have personally never met someone that said, "I would have gone elsewhere." Although some say "Go the cheapest route." despite saying "go to Pacific."

It gives me alot of confidence when I meet all these alum who say it again and again.

 

[armorshell]

Well, after a night of zero sleep, I'm pretty sure this is happening. Baby steps though, I updated my pre-dents.

Next step, signature. Step 3, send the deposit.

Woowoo!