I get asked this question frequently. “What is the difference between production, adjusted production, and collections?” Associates are typically paid on either adjusted production or collections. Adjusted production is production minus any insurance write-offs or discounts. To understand adjusted production, you need to know what “production” means....
byChance BodiniJuly 4, 2020
The COVID crisis effects on student loans continues. This pandemic has highlighted a complete lack of communication between the Department of Education and the loan servicers. You may have noticed that your federal student loans were automatically placed into forbearance last week. My loans are held with FedLoan and they automatically placed my account into an emergency forbearance in 2017...
byChance BodiniApril 5, 2020
The last two weeks have brought many changes to student loans. I have delayed publishing any information regarding these changes because the details of a policy was yet to be defined. COVID-19 has interrupted our lives and the dental profession has many unanswered questions regarding how we will move forward during and after this crisis. Many readers are aware that student loans held by the...
byChance BodiniMarch 22, 2020
It is typically recommended to delay home ownership until after a practice purchase because the practice generates income, while the home does not. Furthermore, ownership of a person’s primary residency is often more of an emotional transaction (it is a lifestyle decision) as opposed to a financial one. With this in mind, it is often wiser to purchase a practice before purchasing a home...
byChance BodiniJanuary 11, 2020
Deciding to become an orthodontist is an expensive commitment. We have already learned about Mike Meru (the first orthodontist to be highlighted for his outrageous student loan burden by the Wall Street Journal). Some interesting conclusions have been drawn from Mike’s student loans and Business Insider does a good job of explaining why dentists, doctors, and lawyers are no longer that...
byChance BodiniNovember 14, 2019
Audio is embded into this post that may not be displayed in our emails. Click on the title to view the webpage. A lot of questions surround the Public Service Loan Forgiveness (PSLF) program since 99% of first-time applicants were denied forgiveness in late 2017 and early 2018. Since then, the program has been temporarily expanded and still has problems. You can learn more on NPR...
byChance BodiniSeptember 27, 2019
Many students will be matriculating from dental schools and residencies over the next 2 months, and student loans will be on their minds. Developing a strategy to repay (or at least manage) your loans early is extremely important. If you want to calculated what your monthly payment will be under PAYE or REPAYE, follow the steps outlined in the post.
byChance BodiniMay 13, 2019
Recently, there was a post on the Dental Nachos Facebook Group about what schools a young pre-dental student should apply to. You might have seen it. In my opinion, any answer besides the cheapest school with a cap (I put the cap around 300k), is absurd advice to give to a student you know little about, and it perpetuates the problem.
byChance BodiniMarch 31, 2019
The Rule of 72 is a simple way to estimate how long a particular investment or debt will take to double given a fixed annual rate of return. Some students try to apply this rule to their student loans, but it is not applicable because direct loan interest does not compound. For example, if an
byChance BodiniMarch 30, 2019
There is a video embedded into this post that may not display correctly if you are reading this via email. If you would like to see the post as it was intended, please visit the blog using a browser. The Patriot Act, a popular show on Netflix, recently highlighted the student loan industry. Unfortunately, there
byChance BodiniMarch 2, 2019