After working with thousands of veterinary students and veterinarians in repayment for the better part of the last ten years, we’ve amassed a lot of data, perspective, and experiences to help shed light on common veterinary student debt scenarios, much of which you can see reflected in the VIN Foundation Student Debt Center.
You asked. You expressed concern. You have questions about how best to handle your student debt.
We have answers.
Veterinary educational debt is a complex and continually evolving topic impacting all colleagues, not just current students and new graduates. A recent Merck Animal Health study named student debt as the biggest stressor reported by colleagues. That study also indicated that fewer veterinarians are recommending the profession as a career choice.
Most pre-veterinary students apply to multiple schools. Costs vary widely between schools and within schools depending on whether the applicant qualifies for a discounted seat based on residency. The Foundation’s goal in generating this tool is to enable students to apply smarter, seeking the high quality education they desire at the most reasonable cost.
Congratulations, new veterinary doctors! It’s time to celebrate graduation! It’s also time to learn why and how a Federal Direct Consolidation Loan can help you start your student loan repayment plan ASAP.
Student loan repayment is complicated. With the availability of income-driven repayment options like Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Revised Pay As You Earn (REPAYE), confusion can set in quickly. The VIN Foundation Student Debt Center is here to help! The My Student Loans function and guides you through which repayment plans you can use and the Student Loan Repayment Simulator helps you figure out which plan you should use.
The recently updated 2018 Health and Human Services (HHS) poverty guidelines determine your minimum monthly student loan payment.
Poverty guidelines are used for many different U.S. government programs. One of the most important uses for veterinarians is the Discretionary Income calculation used to generate the minimum monthly student loan payment of federal income-driven repayment plans (IBR, PAYE, REPAYE). Income-driven student loan repayment plans are extremely helpful for those veterinary graduates with student loan balances greater than their annual incomes.
Choosing a career is more complicated than deciding what to have for dinner or where to go on vacation. Whether you’ve just begun thinking about veterinary medicine as a career or it’s been a lifelong dream, you probably have some questions about how to get there and what you may have to give up along the way.
This post is part of our common questions about becoming a veterinarian and their answers section of our blog. Check out more under the veterinary questions and answers category. We also encourage you to add your own voice and send us your questions. Chances are, if you’re wondering about something, someone else is too.
Hi, I’m starting community college next fall and I just wanted to know what classes do you guys recommend for me to take that will benefit me and my plan in becoming a veterinarian. My plan is to graduate high school this year and go to DVC then transfer to UC Davis for their veterinary medicine program. I want to be prepared as I can be!
We are excited to announce the launch of our Student Debt Center, a mobile-friendly comprehensive resource for all things related to student debt, in particular veterinary student debt.
With veterinarians leaving school having a debt load routinely exceeding two times their salary, and far surpassing the “healthy” debt-to-income ratio of most professions, this is a critical issue impacting the veterinary profession. Veterinary student debt-related stress is taking a toll on individuals and the profession – a toll measured in physical, emotional and financial stress. The VIN Foundation is answering the call to this crisis with the Student Debt Center.