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nmdental.org
T
alking about money and finances
in dentistry frustrates me a little
because it takes away from the
core, enjoyable part of dentistry, which
is what got me into the field to begin
with. But at least talking about getting
money is a lot better than spending it.
So here are some ways to keep money in
your pockets.
Student Loan Refinancing
The first and biggest way for new dentists
to save money is by refinancing your
student loan through the ADA’s new
partnership with Darian Rowayton
Bank. If you are like me, you probably
have or had student loans accumulating
to around $200,000 at 6.8% interest
(although as of 2014 most federal Staf-
ford loans are down to 5.4%).
I just recently applied and got accepted
to refinance my loans through this
service—my rate dropped from 6.8% to
3.25%! To break that down, if you were
trying to pay off your loan on a ten-year
plan, the total life cost of the loan goes
from $276,120 to $237,240. That’s a
$38,000 savings! If you’re paying it off
over 20 or 30 years then it’s even more.
So take advantage of this now. For more
information, visit
http://student.drbank.
com/ADA.
Continuing Education Discounts
The second seemingly simple way to save
your money is the discounts that you get
at CE events, conferences, and conven-
tions. Maybe you are someone who does
all the possible CE—going to seminars,
online webinars, journal articles, etc.
Not all of these get discounted if they
are hosted by private corporations.
But let’s just look at some popular
conventions and the money you can
save. If you are planning on going to
the New Mexico Dental Convention in
June 2016 (which I highly recommend)
you will save at least $230 in registra-
tion fees if you are a NMDA member.
This is true for conventions around the
country. Another example is the Rocky
Mountain Dental Convention; ADA
members can save $396 there. If you are
a “new dentist,” then up that to $463 in
savings! To me it’s a no-brainer that if
you are planning on attending at least
one CE convention, it’s better to do so
as an ADA member, because by paying
your dues, you get to immediately take
that $200–$300 and stick it back in your
pocket.
Committee on New Dentists
By Joe Gherardi, DDS—Albuquerque, NM
To join the Committee on New Dentist
o r f o r mo r e i n f o r ma t i o n , c o n t a c t
Joe Gherardi at 505-293-6125.
Two of the Money-$aving Benefits
That Make My Membership Worth It!
For all dentists—whether you fall
under the “new dentist” category or
not—these are simple reminders of
what your benefits as an ADA and
NMDA member are. When you
really look at those “simple” finan-
cial benefits you appreciate how
big they really are. Especially if you
are a new dentist, just starting out,
take my example and after my first
10 years are done I will have saved
$41,180 from my loan refinancing
and discounts from the NM Dental
Convention alone. That makes my
membership worth it. Not even
factoring in the other (non-finan-
cial) great aspects that the NMDA
provides me, not to mention the
great people I’ve met and am proud
to call my colleagues.