USC cost of attendance is 130K for the 1st year

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

Confused321

Membership Revoked
Removed
7+ Year Member
Joined
Dec 18, 2015
Messages
120
Reaction score
56
Hello

The cost of attendance for USC is 130K for the first year and 500K at the end of 4 years.
Moreover, I hear that the job market in California isn't too great. Can anyone explain to
me why exactly the tuition for USC is so high even when compared to many other
private schools? It takes around 10-20 years to pay off student loans from most dental
schools, how long would it take to pay off USC? Thank you!

Members don't see this ad.
 
Hello

The cost of attendance for USC is 130K for the first year and 500K at the end of 4 years.
Moreover, I hear that the job market in California isn't too great. Can anyone explain to
me why exactly the tuition for USC is so high even when compared to many other
private schools? It takes around 10-20 years to pay off student loans from most dental
schools, how long would it take to pay off USC? Thank you!

Because USC can charge whatever they want. Why? Lots of factors. Mainly because Uncle Sam is giving out loans like candy. Plus some applicants are desperate enough to go anywhere.

How long would it take to pay off 500k? Depends on your repayment gameplan and your salary.... Don't get caught up on how long...just realize having that amount of debt is incredibly restricting. Good luck trying to start a practice, buying a house, having a family, etc....
 
Yea....Kids need to stop going to USC.
 
  • Like
Reactions: 15 users
Members don't see this ad :)
the financial aid rep told us that majority of the students enroll in PAYE or IRB (government loan forgiveness program) which in the end you will pay around 700k$ for 500k$ loan rather than 900k$ for 500k$ loan. I think it is ridiculous to take out 500k$ loan, it is just a number now but at 6.0% rate, you will have 30k interest per year.

I also think it is ridiculous for a dental school to enroll most of their students in government loan forgiveness program upon graduation knowing the fact their cost of of attendance is non sustainable.

mind you 130k$ is their estimated cost, USC dental students told me they have to buy equipments and instruments when theirs wear out so those add on too.

where else did you get into?
 
Welcome to private dental schools
 
  • Like
Reactions: 3 users
the financial aid rep told us that majority of the students enroll in PAYE or IRB (government loan forgiveness program) which in the end you will pay around 700k$ for 500k$ loan rather than 900k$ for 500k$ loan. I think it is ridiculous to take out 500k$ loan, it is just a number now but at 6.0% rate, you will have 30k interest per year.

I also think it is ridiculous for a dental school to enroll most of their students in government loan forgiveness program upon graduation knowing the fact their cost of of attendance is non sustainable.

mind you 130k$ is their estimated cost, USC dental students told me they have to buy equipments and instruments when theirs wear out so those add on too.

where else did you get into?

Thats hilarious. They are basically saying that kids can't pay back their tuition.
 
This is insane!! That's all without interest too. Wheww.. I am concerned with my 70k a year school..
 
  • Like
Reactions: 2 users
Absolute bananaland it costs this much for certain schools.
 
  • Like
Reactions: 4 users
USC and other private schools are on their schedule of 5% tuition annual increase
 
the financial aid rep told us that majority of the students enroll in PAYE or IRB (government loan forgiveness program) which in the end you will pay around 700k$ for 500k$ loan rather than 900k$ for 500k$ loan. I think it is ridiculous to take out 500k$ loan, it is just a number now but at 6.0% rate, you will have 30k interest per year.

I also think it is ridiculous for a dental school to enroll most of their students in government loan forgiveness program upon graduation knowing the fact their cost of of attendance is non sustainable.

mind you 130k$ is their estimated cost, USC dental students told me they have to buy equipments and instruments when theirs wear out so those add on too.

where else did you get into?

But... they are basically telling students to let their loans balloon to an imaginable figure because IBR/PAYE payments won't even cover the interest off their ridiculous tuition. And what would be the tax off that crazy balance?
 
USC and other private schools are on their schedule of 5% tuition annual increase
How is that fair? That outpaces the consumer price index, and 15 years down the road tuition will be exponentially more increased than inflationary dollars
 
But... they are basically telling students to let their loans balloon to an imaginable figure because IBR/PAYE payments won't even cover the interest off their ridiculous tuition. And what would be the tax off that crazy balance?

i am not sure but the fin aid rep of USC has the spread sheet calculating year by year basis. but overall you have around 800k forgiven (assuming you pay 300-400k through IRB/PAYE after 20 year). so tax on that will be around 45% so you have to pay 365k$ as tax. but overall you pay around 800k for 500k debt after 20 years. it is still better than paying it straight up through traditional.

How is that fair? That outpaces the consumer price index, and 15 years down the road tuition will be exponentially more increased than inflationary dollars

everyone thinks it is not fair. thus, the state school or state school that grants in state after 1 year are probably your best bet to lower the debt now.
 
But... they are basically telling students to let their loans balloon to an imaginable figure because IBR/PAYE payments won't even cover the interest off their ridiculous tuition. And what would be the tax off that crazy balance?
Don't forget, these programs may not even be around in the future! gg
 
  • Like
Reactions: 1 user
Members don't see this ad :)
Sign for your soul on the dotted line, worry about the rest later. :welcome:
 
My answer is pretty clear: if you cannot provide affordable education to students, then cease and desist your dental program.
 
  • Like
Reactions: 1 user
tuition in the US is absolutely insane. The dental school I'm looking to get into in canada is 140k for all four years...
 
They know that it's just a number to us right now so they rely on our naïveté to charge us up the arse. Just be smart about it.
 
  • Like
Reactions: 3 users
I know USC stresses their alumni base.

is the alumni network for USC a huge reason for why students go to USC?
will these connections greatly help students pay off their 500K loans?
 
there are some people out there that would only go to a dentist that graduates from USC
but I don't think the alumni base should play a big role in your decision
If you can get a scholarship then USC is a good option

but without a scholarship, I agree.... it is financial suicide taking out half a million dollars in loans.
 
Last edited:
  • Like
Reactions: 2 users
I doubt that...
Interestingly, I've seen a lot of signs in LA that advertise if the dentist is a USC grad. I have yet to see signs for UCLA grads. Many people in LA think very highly of USC without any knowledge of their dental program. I thought the same thing you did until I saw it for myself.
 
  • Like
Reactions: 1 users
Interestingly, I've seen a lot of signs in LA that advertise if the dentist is a USC grad. I have yet to see signs for UCLA grads. Many people in LA think very highly of USC without any knowledge of their dental program. I thought the same thing you did until I saw it for myself.

even so, that alumni network is insignificant when tuition is this insane
i know USC grads that are having trouble getting a job in Cali
 
And I am here waiting for the bubble to burst.
 
  • Like
Reactions: 6 users
Am i wrong to say that I hope the program eventually implodes? I sympathize with USC grads and think that it's criminal for a school to charge that much. Simply put, they are doing it because they can and students will continually going there because it has the USC brand.
 
And I am here waiting for the bubble to burst.

It won't as long as there are unlimited loans and pre-dents willing to live on peanuts if only to pursue their ultimate life-goal of becoming a dentist.
 
Dat Military scholarship though.
Otherwise, ew.
 
Military should set a limit on their scholarships. You can pay for two dentists for every USC grad.

The same could be said of the unlimited federal loans that USC dental students are taking out, but not planning to pay back completely. Seriously- that's how they present it at the USC admissions/interview day. They present the default repayment method as IBR/PAYE.

Most of the people going there are just going to try to IBR/PAYE, aim for PSLF, or worst case scenario, default.

There are far more of this kind of people than the few HPSP recipients at USC...
 
Last edited:
Military should set a limit on their scholarships. You can pay for two dentists for every USC grad.

lol not two dentists, probably 1.2-1.3 dentist for every USC grad. Majority of HPSP recipient will enroll in the expensive private schools (or else, what is the point of HPSP, just take out loans for inexpensive state school and pay it back later).

HPSP is only worth it when your debt hovers around 350-400k, which, in fact, majority of dental schools reach nowadays.
 
  • Like
Reactions: 1 user
Am i wrong to say that I hope the program eventually implodes? I sympathize with USC grads and think that it's criminal for a school to charge that much. Simply put, they are doing it because they can and students will continually going there because it has the USC brand.

that is not likely, as long as applicants are desperate enough to get their DDS, they can continue to increase their tuition all they want.
 
  • Like
Reactions: 1 user
If we compare tuition increases with starting salary for the last 10 years, the picture becomes very scary.

The scary thing is, the entry level dentist salary has not changed at more than $500/day for 95% of general dentistry graduates for the past decade or so. Even today, at the current economic climate, you will see job offers for new graduates ranging from $400-500/day. As each year goes by, each new graduate's net take home is less than the graduates that was a year ahead of them in the field, because the tuition debt payments is higher, while the starting salary has not changed.

Below is the USC cost of attendance for the last decade, with projection of next couple of years. Tuition went up about $50,000 in 12 years, that's about 60%. USC general dentist graduates in 2004 starting salary is the same as today's new graduate starting salary, almost 0% change. Some may argue that 2nd, 3rd, 4th, and 5th year salaries will go up dramatically, but that's not true for all graduates, specially when you factor in taxes (which goes up with higher income), and the cost of inflation (which went up 28% in the last decade).

16kozud.jpg
decade_cumulative_inflation_sm.jpg

a prediction made 3 years ago was on point about USC's cost of attendance being $130,000 for their 1st year in 2015

following this trend it can be reasoned that 1st year cost will rise to over $150,000 in 2020
 
  • Like
Reactions: 3 users
with tuition that high I wonder what they even use that money for, the school itself doesn't seem any more technologically advanced than any other dental school
 
  • Like
Reactions: 1 user
Their financial aid session with the whole PAYE/IBR just shows how much they care about their students.

This is what it looks like in california with 500k debt at 6.8 (sub) as a 150k average career earner

qqLWLvJ.jpg


Look at the old IBR which many USC would be on. They will be paying a million dollars over their career on top of the 350k tax bomb at the end. And as a dentist, 150k will be low-balling your career earnings. So really, what's the point of saying that IBR is an alternative for you when really you would be uncle sam just about the same? It's nothing more than to trick unsuspected pre-dents into thinking they aren't being ripped off as hard. These financial aid session arent to help the students, but to give them a false sense of security into attending their school.

That's just one part of my rant. When I attended the session, they even had the audacity to skip over the technicality of the tax bomb.
"hey they forgave over 700k of your loans! isn't that greeeeeaat"
no not really. You still paid close to 500k and you just let the principal ballooned to 700k which now you have to be responsible for through your taxes.
 
  • Like
Reactions: 10 users
Their financial aid session with the whole PAYE/IBR just shows how much they care about their students.

This is what it looks like in california with 500k debt at 6.8 (sub) as a 150k average career earner

qqLWLvJ.jpg


Look at the old IBR which many USC would be on. They will be paying a million dollars over their career on top of the 350k tax bomb at the end. And as a dentist, 150k will be low-balling your career earnings. So really, what's the point of saying that IBR is an alternative for you when really you would be uncle sam just about the same? It's nothing more than to trick unsuspected pre-dents into thinking they aren't being ripped off as hard. These financial aid session arent to help the students, but to give them a false sense of security into attending their school.

That's just one part of my rant. When I attended the session, they even had the audacity to skip over the technicality of the tax bomb.
"hey they forgave over 700k of your loans! isn't that greeeeeaat"
no not really. You still paid close to 500k and you just let the principal ballooned to 700k which now you have to be responsible for through your taxes.

Got to load up on liabilities to avoid that tax bomb ;)

I cry everytime
 
  • Like
Reactions: 1 user
Got to load up on liabilities to avoid that tax bomb ;)

I cry everytime

how do you do this? like how to you avoid tax at all? I know property tax/business tax can be written off as deductible. but other than that, im clueless.
 
  • Like
Reactions: 1 user
I just saw this on /r/personalfinance

https://www.reddit.com/r/personalfinance/comments/49en3s/i_need_300k_in_2025_years/

very similar discussion to what i mentioned on monday. I highly recommend meeting if you think you will be attending a 400k school

I'm confused as to why everyone thinks PAYE is so evil. As long as you plan ahead for the eventual tax bomb as the poster in this thread is doing I really don't see the downside compared to standard loan repayment.
 
i honestly don't know where the cost of dental education is heading at this rate.
 
  • Like
Reactions: 1 user
I'm confused as to why everyone thinks PAYE is so evil. As long as you plan ahead for the eventual tax bomb as the poster in this thread is doing I really don't see the downside compared to standard loan repayment.
I agree with you. It's almost comedic how morally apprehensive some of those folks are to the two words "loan forgiveness" (yet they wouldn't hesitate to vote in bernie for free college education. whatever).


I mainly wanted to share the thread because itreally illustrates a good point on how much of a financial burden this debt load really is. Those folks are all more or less financially-savy, so their perspective is still interesting. Although that thread's OP still sounds ridiculously entitled, it still demonstrates a very real human component to the reality of this debt load. The folks are /r/personalfiance are asking OP, why can't he do that, or do this, or do this and that. To an outsider, OP's situation is in fact pretty ridiculous. Yet every pre-dent looking at a 400k school will be living in that absurdity. So better start thinking about what your expectations are or you might end up freaking out like that thread's OP
 
  • Like
Reactions: 1 users
I agree with you. It's almost comedic how morally apprehensive some of those folks are to the two words "loan forgiveness" (yet they wouldn't hesitate to vote in bernie for free college education. whatever).


I mainly wanted to share the thread because itreally illustrates a good point on how much of a financial burden this debt load really is. Those folks are all more or less financially-savy, so their perspective is still interesting. Although that thread's OP still sounds ridiculously entitled, it still demonstrates a very real human component to the reality of this debt load. The folks are /r/personalfiance are asking OP, why can't he do that, or do this, or do this and that. To an outsider, OP's situation is in fact pretty ridiculous. Yet every pre-dent looking at a 400k school will be living in that absurdity. So better start thinking about what your expectations are or you might end up freaking out like that thread's OP

so basically, even grads from schools that are around 400K (example: Michigan out of state costs or Columbia) would be in similar financial trouble as USC grads?
USC is 500K, which I consider to be significantly more expensive than 400K
 
so basically, even grads from schools that are around 400K (example: Michigan out of state costs or Columbia) would be in similar financial trouble as USC grads?
USC is 500K, which I consider to be significantly more expensive than 400K

400k is still very difficult to pay off depending on your lifestyle if you do not have an amazing starting gig (150k). You will either have to extend your loan repayment to 20 or 30 years or do the PAYE loan repayment program until you have successful private practice income.
 
400k is still very difficult to pay off depending on your lifestyle if you do not have an amazing starting gig (150k). You will either have to extend your loan repayment to 20 or 30 years or do the PAYE loan repayment program until you have successful private practice income.

$400k isn't too hard to pay off with a $120k salary (after taxes).

Assuming you live on $40-50k, you'd have $70kish to add towards your loan repayment per year. You can pay that off in 7 years @ 6%. This is also assuming your salary stays at $120k for 7 years. Now, of course you became a dentist, you don't want to live on $40-50k/yr. But making that sacrifice for 5 - 7 years is worth it imo.
 
$400k isn't too hard to pay off with a $120k salary (after taxes).

Assuming you live on $40-50k, you'd have $70kish to add towards your loan repayment per year. You can pay that off in 7 years @ 6%. This is also assuming your salary stays at $120k for 7 years. Now, of course you became a dentist, you don't want to live on $40-50k/yr. But making that sacrifice for 5 - 7 years is worth it imo.


:laugh: this is why schools are able to get away with it.
 
  • Like
Reactions: 7 users
$400k isn't too hard to pay off with a $120k salary (after taxes).

Assuming you live on $40-50k, you'd have $70kish to add towards your loan repayment per year. You can pay that off in 7 years @ 6%. This is also assuming your salary stays at $120k for 7 years. Now, of course you became a dentist, you don't want to live on $40-50k/yr. But making that sacrifice for 5 - 7 years is worth it imo.
First of all, your interest is not 6% (unless you refinance). Most of your loans will be 6.84 so closer to 7. (total of about 15k difference, so not insignficant)
Second, under the context of graduating from usc and working in california, you need to make 190k to take home 120k. GL
 
Last edited:
  • Like
Reactions: 4 users
Top