What is the "New Grad Student Loan Playbook" webinar about?
The “New Grad Student Loan Playbook” is an annual webinar by VIN and VIN Foundation aimed at providing information and guidance to graduating veterinarians regarding their student loans and repayment options.
With the rapidly changing student loan landscape, each graduating class faces new and different challenges. Some of the most consequential mistakes happen during the initial phase of student loan repayment.
During the recent 2025 New Grad Student Loan Playbook webinar, held on May 7th, 2025, there were many questions. Below are the questions and answers focused on applying for a repayment plan:
Q: How soon before/after graduation should we apply for a repayment plan?
A: You cannot apply for a repayment plan before graduation. For your loans to be eligible for a repayment plan, they need to be in a grace period or post-graduation deferment status. That does not happen until after graduation.
Once you graduate and your loans are in a grace period or post-graduation deferment status, they are eligible for federal consolidation. You do not have to consolidate your loans (see the Consolidation Conundrum post and Consolidation FAQs for more information). However, consolidation is the only way to end your grace period early and get your loans into repayment before your grace period ends. If you do not consolidate your student loans, your grace period will end 6 months after graduation. Set a calendar reminder to select a repayment plan about 60 days before your grace period ends. Selecting a repayment plan too early, such as soon after your loans enter the grace period, will often result in that request being ignored by your loan servicer.
Q: When should you apply for a repayment plan, before the grace period ends, or after you are assigned the 10-year default plan?
A: If you are not consolidating your loans, then apply for your repayment plan 60 days before your grace period ends. If you do not apply for a repayment plan, your loans will automatically enter a fixed 10-year repayment plan (STD 10-year plan). You’ll receive a statement for the fixed 10-year plan amount at the end of your grace period, and your first payment will be due 30 days after you receive that statement.
If you wait to apply for a repayment plan after you are assigned the fixed 10-year plan, then you will need to request a forbearance while they process your application if you are not prepared to make the fixed 10-year plan payment. For most new grad veterinarians with student loans, the fixed 10-year plan monthly payment can be much higher than post-graduation budgets may allow. To receive a lower monthly payment, you have to request either an income-driven repayment plan or another time-driven repayment plan with a longer term than 10 years (extended or graduated repayment plan).
This year, there is a significant backlog of student loan applications, especially income-driven repayment applications, due to recent changes and court rulings for federal student loan repayment plans. Applications are taking longer than usual. Do not wait until your loans enter the fixed 10-year plan if you’re hoping to use another plan to repay your loans.
Q: Can you apply for a plan before your grace period ends and keep the grace period?
A: Yes, AND the timing matters! If you select a repayment plan too early, your application may not be processed. Set a reminder in your calendar to select a repayment plan 60 days before the end of your grace period. For any application successfully processed during the grace period, your payments will not start until after the grace period ends.
The only way to have payments start before your grace period ends is by consolidating your student loans and choosing the “do not delay processing” option. See the Consolidation Conundrum post and Consolidation FAQs for more information.
Q: More Applying for a Repayment Plan Q&A coming soon…
In the meantime…
Have more questions? Post a comment below or email [email protected].
Dr. Tony Bartels graduated in 2012 from the Colorado State University combined MBA/DVM program and is an employee of the Veterinary Information Network (VIN) and a VIN Foundation Board member. He and his wife have more than $400,000 in veterinary-school debt that they manage using federal income-driven repayment plans. By necessity (and now obsession), his professional activities include researching and speaking on veterinary-student debt, providing guidance to colleagues on loan-repayment strategies and contributing to VIN Foundation initiatives.
