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Dental Student Debt: Strategies for Success Dr. Maxine Feinberg, president, American Dental Association.

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Presentation on theme: "Dental Student Debt: Strategies for Success Dr. Maxine Feinberg, president, American Dental Association."— Presentation transcript:

1 Dental Student Debt: Strategies for Success Dr. Maxine Feinberg, president, American Dental Association

2 @ASDAnet #ASDAnet First: A Word About You You Are ADA Member Dentists We’re here for you now and throughout your career

3 @ASDAnet #ASDAnet The ADA Mission Helping all members succeed

4 @ASDAnet #ASDAnet How I Got Here

5 @ASDAnet #ASDAnet The Way We Were

6 @ASDAnet #ASDAnet Now Then vs Now

7 @ASDAnet #ASDAnet A Brief Word about Science Confirmation bias: our tendency to focus on evidence that confirms our prior expectations. Once our minds land on a theory, our impulse is to reassure ourselves it’s true, not set out to disprove it.

8 @ASDAnet #ASDAnet Tackling Confirmation Bias Write down what surprises you Ask – Why was this surprising? – What does this tell me about myself?

9 @ASDAnet #ASDAnet Impact of Student Debt on Career Choices Influence of educational debt on seniors' primary activity choice upon graduation Not at all33.7% Only slightly11.6% Moderately22.1% Very much22.3% Completely10.3% Note: Percentages may not total 100% because of rounding. Source: ADEA Survey of Dental School Seniors 2013 Graduating Class

10 @ASDAnet #ASDAnet Impact of Student Debt on Career Choices

11 @ASDAnet #ASDAnet Impact of Student Debt on Career Choices  Education debt has an impact on some career choices  The magnitude of this effect is fairly small, especially when compared to the impact of personal characteristics like gender, race, and whether a parent is a dentist  Preliminary results from subsequent research suggest that the impact of education debt is even smaller once you control for endogeneity

12 @ASDAnet #ASDAnet Impact of Student Debt on Career Choices  The probability that a female dentist owns her practice is 22 percentage points lower than a male dentist.  Whites are much more likely to own a practice than Hispanics (by 12.9 percentage points), Asians (by 18.0 percentage points), and blacks (by 19.4 percentage points).  Females and non-whites are more willing to accept poor patients than males and whites.  Debt does not affect ownership or willingness to accept poor patients

13 @ASDAnet #ASDAnet A Word from The Onion

14 @ASDAnet #ASDAnet Cost of education Dental School Revenue Sources (In 1973 constant dollars) Source: A Report of The ADEA Presidential Task Force on the Cost of Higher Education and Student Borrowing

15 @ASDAnet #ASDAnet Student Loan Volume Source: Student Loan Market Place for Dental Professionals, Student Loan Capital Strategies LLC

16 @ASDAnet #ASDAnet Dental Income

17 @ASDAnet #ASDAnet Debt and Income Source: Report of the ADA Taskforce on Dental Education Economics and Student Debt

18 @ASDAnet #ASDAnet Student Debt – the gist Dental student debt has increased over time. Dentistry is experiencing the same trends in debt as most other high-income professions. The rates of increase are in line with those experienced by other professional students (e.g., physicians, vets).

19 @ASDAnet #ASDAnet Tackling Confirmation Bias

20 @ASDAnet #ASDAnet Dentists working together now…

21 @ASDAnet #ASDAnet … and then!

22 @ASDAnet #ASDAnet Dentists working together When the ADA speaks, it’s really you and me speaking.

23 @ASDAnet #ASDAnet Student Debt Affordable Care Act Implementation Midlevel providers Higher Education Reauthorization Action for Dental Health ADPAC 2015 Legislative Priorities

24 @ASDAnet #ASDAnet We Are Here to Help! ADA.org/student newdentistblog.ada.org Your state dental society ADA.org/societydirectories


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