Best Dental School Loans

As you prepare for dental school, funding is probably on your mind. With an average cost of at least $51,254 per year, dental school usually requires student loans. The good news is that you have options. You can use federal and private loans to help pay for school. 

Here are the top dental school loan lenders with the lowest rates, including federal and private options. 

Lender	Best for	Our rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Earnest	No fees	4.7/5
SoFi	Member benefits	4.7/5
ELFI	Personalized support	4.5/5

Federal student loans for dental school

Applying for federal loans is always a good idea so you can review the offers. Some federal loans offer lower interest rates and flexible repayment plans or forgiveness, but it depends on the loan type. 

For example, Direct Unsubsidized Loans for graduate students have competitive interest rates and minimal fees. Graduate PLUS loans, on the other hand, have a higher rate and a 4% origination fee. Because of that, you might get better terms with a private loan. 

Compare the terms of federal and private loans to determine the best deal. Here’s an in-depth look at the federal loans you can consider. 

Direct Unsubsidized Loans

Direct Unsubsidized Loans are available to undergraduates and graduate students, regardless of financial need. The amount available to borrow is determined based on your school’s certified cost of attendance minus any other financial aid you’re eligible for. These loans have annual and lifetime maximums.

Here are important features of Direct Unsubsidized Loans:

• Independent graduate or professional students can borrow a maximum of $20,500 annually.
• You can borrow up to $138,500 in combined Subsidized and Unsubsidized Loans.
• The current interest rate on Direct Unsubsidized Loans for graduate and professional students is 8.08%.
• Current loan fees are 1.057% for Direct Unsubsidized Loans.
• Repayment begins six months after you graduate, withdraw from school, or drop below half-time enrollment.

Federal Grad PLUS loans

Federal PLUS Loans for graduate and professional students are available to graduate students with a solid credit history. The interest rates and origination fees for PLUS loans are higher than other federal loans. You must enroll at least half-time at an eligible school to qualify.

Here’s what to know about Grad PLUS Loans:

• The maximum PLUS loan amount you can borrow is the school-certified cost of attendance as determined by your school minus any other financial aid available.
• The current fixed interest rate on Direct PLUS Loans is 9.08%.
• The current loan fee is 4.228%.
• Repayment begins six months after you graduate, withdraw from school, or drop below half-time enrollment.

HRSA loans

The Health Resources & Services Administration (HRSA) offers unique funding options for medical students, including future dentists. You must be a full-time student at an eligible school and complete the Free Application for Federal Student Aid (FAFSA). 

Here’s what you need to know about HRSA loans.

• Dental students are eligible for two HRSA loans: Loans for Disadvantaged Students and Health Professions Student Loans.
• The loans have a fixed interest rate of 5%, which is significantly below average. 
• Students must demonstrate financial need to receive an HRSA loan. 

Best private loans for dental school

Graduate student loans from a private lender are another way to pay for dental school. Private lenders offer quick applications, competitive rates, and unique perks. 

Your credit history determines your eligibility, meaning borrowers with a higher credit score can get lower interest rates. You can also work with an eligible cosigner to make your application more competitive. 

Private loans can help you complete your degree. As you search for the best lender, compare interest rates, fees, repayment terms, and extra features. Here are the top private lenders for dental school loans. 

College Ave

Best overall

5.0 _/5

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Why we picked it

College Ave offers a dental-specific private loan option with competitive interest rates and repayment terms. It also offers a longer grace period than many other private lenders, giving dental students more time to repay their debt.

College Ave loans are available to students enrolled in a DDS or DMD program at an eligible school. 

While College Ave does not disclose a minimum FICO credit score requirement, creditworthy borrowers can borrow up to 100% of their educational costs. International students are eligible for College Ave loans with a valid U.S. Social Security number and a cosigner.

• Choose between 20 different repayment schedules
• Payments are deferred during residency
• 12-month grace period

Loan details

Rates (APR)	4.17% – 14.147%
Loan amounts	Up to $500,000
Repayment terms	Full, interest-only, $25 flat, or deferred

Sallie Mae

Best for cosigners

4.8 _/5

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Why we picked it

Sallie Mae offers dental school loans to students of all dental specialties in all 50 states. You can borrow up to 100% of your cost of attendance during dental school, plus up to $30,000 to cover residency and relocation expenses.

Student borrowers can be enrolled less than half-time and still qualify for Sallie Mae dental school loans. Borrowers must be creditworthy U.S. citizens or permanent residents. 

Cosigners can be released after 12 months of on-time payments.

• Cosigner release is available after 12 on-time payments
• Defer payments for 48 months during your residency and fellowship
• Offers a Dental Residency and Relocation Loan that can cover travel and relocation costs

Loan details

Rates (APR)	4.15% – 14.96%
Loan amounts	Up to 100% of certified costs
Repayment terms	Full, interest-only, $25 flat, or deferred

Earnest

Best for no fees

4.7 _/5

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Why we picked it

Earnest is a standout private student loan pick thanks to its fee-free lending. Borrowing from Earnest does not incur origination, prepayment, or late fees.

To qualify for an Earnest student loan, you or your cosigner must have a FICO score of 650, two months of savings, and an annual income of at least $35,000. 

Earnest doesn’t offer cosigner release, so you must refinance your loans if you ever want to remove your cosigner’s obligation to your debt.

• Skip a payment once per year if needed
• 100% Rate Match Guarantee

Loan details

Rates (APR)	Starting at 4.17%
Loan amounts	$1,000 – $250,000
Repayment terms	Full, interest-only, $25 flat, or deferred

SoFi

Best for member benefits 

4.7 _/5

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Why we picked it

SoFi is a top lender for dental students due to no fees and a quick application process. You can apply online within a few minutes. 

Dental students can borrow up to 100% of certified school costs without an aggregate limit. 

Borrowers are also eligible for multiple discounts, totaling 0.5%. Plus, cosigner release is available after 24 months of consecutive payments. 

• Unique perks like free financial advisors and networking events
• Defer payments for up to 9 months after graduation
• $100 minimum payment during residency

Loan details

Rates (APR)	4.19% – 15.86%
Loan amounts	Up to 100% of certified costs
Repayment terms	Full, interest-only, $25 flat, or deferred

ELFI

Best for personalized support

4.5 _/5

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Why we picked it

Education Loan Finance (ELFI) offers healthcare loans for dental students. The minimum loan amount of $10,000 is higher than most lenders, but you can borrow up to 100% of certified costs. 

Borrowers or cosigners must have a credit score of at least 680. You also need an income of at least $35,000 and at least 36 months of credit history.

• No application, origination, or prepayment fees
• Work with a dedicated loan advisor throughout the application

Loan details

Rates (APR)	Starting at 4.5%
Loan amounts	$10,000 – 100% of certified costs
Repayment terms	Immediate, interest-only, $25 flat, or deferred

How do loans for dental school differ from other graduate school loans?

Some lenders offer the same terms and rates for dental school loans and other types of graduate loans. However, other lenders have unique programs or other perks for dental students. 

Here’s what to consider as you search for the best dental school loans. 

Loan amounts

Some lenders offer loans for up to 100% of the cost of attendance. Because dental school can be more expensive than other graduate programs, working with a lender who can cover the costs is essential. 

For example, SoFi has dental school loans for up to 100% of the cost of attendance with no aggregate limit, so you can borrow as much as you need throughout your program. 

Reduced residency payments

Dental students must complete a residency requirement, usually with a reduced salary. Some lenders offer lower loan payments during that time. 

For example, SoFi allows borrowers to make $100 minimum payments. Sallie Mae goes even further and allows students to defer repayment during residency for up to 48 months.

Specific loans

Dental school can come with unique costs, especially during residency. Sallie Mae offers a Dental Residency and Relocation Loan that can cover travel and moving costs. It’s a great option if you need extra funding during that time. 

Other loans, like the HRSA federal loans, are only available to medical students, making them a unique funding option. 

What kind of dental school student loans should I take out?

Most dental students use loans to pay for some or all of their education. As you decide how to fund dental school, consider federal and private loans and how to use both. Here’s what to consider as you choose. 

• Interest rates: It usually makes sense to start by taking out loans with the lowest interest rates. Review federal and private loans to determine the best terms. 
• Your credit score: Your credit score impacts your ability to qualify for private loans and Grad PLUS loans. If you have a low score, you can apply with a cosigner or focus on other federal loans instead. 
• Unique perks: Some loans offer unique perks, like low interest rates or extended deferment periods. Consider the perks as you decide which loans are the best fit. 
• Repayment terms: Most private loans have four repayment options: immediate, interest-only, $25 flat, or deferred. Federal loans also have different payment plans, but they vary depending on the type of loan. Consider which repayment plan makes the most sense.
• Filling the gap: Start by accepting the loan with the best terms. If you need additional funding after that, take the second-best and third-best loans until you have enough money to cover all your education expenses for the year. 

How to get loans for dental school

If you need help paying for dental school, there are many loan options to consider. Both federal and private student loans can give you the funding you need for tuition, fees, housing, books, labs, and even school supplies (like a new laptop).

You’ll want to begin the qualification process before you start shopping around for loans.

1. Fill out the FAFSA. The Free Application for Federal Student Aid (FAFSA) considers factors such as household income when determining your aid eligibility. This form is the key to qualifying for federal student loans. You must submit it several months before the school start date every year.
2. Review federal loans first. After you have exhausted your scholarships, grants, college savings, and other free funding options, consider federal student loans with low interest rates and other perks. 
3. Consider private loan options. While you consider federal loans, start shopping for a private student loan. Compare the options and choose the loans with the most competitive terms. 

FAQ

Do I need a cosigner for dental school loans?

By the time you reach dental school, you may have established a credit history and score that could qualify you for a student loan without a cosigner. However, as a full-time student, you probably won’t meet the income requirements, especially if you need to borrow a lot. Because of that, many students need a cosigner when taking out dental school loans.

Can dental school loans be used for living expenses?

Most lenders allow dental students to borrow up to 100% of their school-certified educational expenses. 

Students opting for campus-sponsored housing can generally use any of their loans to pay for these living expenses; students with off-campus housing may be able to borrow private loans for these costs, but it will depend on the lender and their aggregate loan limit.

How much can I borrow with dental student loans?

Each lender sets its dental student loan limits. Most private lenders and some federal loans allow students to borrow up to 100% of their educational expenses. Aggregate (total) loan limits may apply, depending on the lender.

When does repayment on dental school loans start?

Dental school loans typically have a grace period of six to 12 months. You won’t need to repay your dental school debt until the grace period ends. If your loans are not Subsidized, interest will continue to accrue during this grace period and can increase the overall cost of your educational debt. 

If your budget allows, it’s wise to make interest payments on your unsubsidized loans to minimize your debt when you must begin repayment.

How we chose the best dental school student loans

LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best student loans for dental school

Lender	Best for	LendEDU rating
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Earnest	No fees	4.7/5
SoFi	Member benefits	4.7/5
ELFI	Personalized support	4.5/5