Presentation on theme: "Dental Student Debt: Strategies for Success Dr. Maxine Feinberg, president, American Dental Association."— Presentation transcript:
Dental Student Debt: Strategies for Success Dr. Maxine Feinberg, president, American Dental Association
@ASDAnet #ASDAnet First: A Word About You You Are ADA Member Dentists We’re here for you now and throughout your career
@ASDAnet #ASDAnet The ADA Mission Helping all members succeed
@ASDAnet #ASDAnet How I Got Here
@ASDAnet #ASDAnet The Way We Were
@ASDAnet #ASDAnet Now Then vs Now
@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.
@ASDAnet #ASDAnet Tackling Confirmation Bias Write down what surprises you Ask – Why was this surprising? – What does this tell me about myself?
@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
@ASDAnet #ASDAnet Impact of Student Debt on Career Choices
@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
@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
@ASDAnet #ASDAnet A Word from The Onion
@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
@ASDAnet #ASDAnet Student Loan Volume Source: Student Loan Market Place for Dental Professionals, Student Loan Capital Strategies LLC
@ASDAnet #ASDAnet Dental Income
@ASDAnet #ASDAnet Debt and Income Source: Report of the ADA Taskforce on Dental Education Economics and Student Debt
@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).
@ASDAnet #ASDAnet Tackling Confirmation Bias
@ASDAnet #ASDAnet Dentists working together now…
@ASDAnet #ASDAnet … and then!
@ASDAnet #ASDAnet Dentists working together When the ADA speaks, it’s really you and me speaking.
@ASDAnet #ASDAnet Student Debt Affordable Care Act Implementation Midlevel providers Higher Education Reauthorization Action for Dental Health ADPAC 2015 Legislative Priorities
@ASDAnet #ASDAnet We Are Here to Help! ADA.org/student newdentistblog.ada.org Your state dental society ADA.org/societydirectories