Veterinary student debt Archives | VIN Foundation
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Veterinary student debt

VIN Foundation | Supporting veterinarians to cultivate a healthy animal community | Blog | Furloughed and Unpaid Federal Veterinarians

Furloughed and Unpaid Federal Veterinarians

More than 3,000 veterinarians are Federal Government employees (USDA, FDA, EPA), and many work for agencies who are impacted when the government shuts down.  Even though the longest shutdown in U.S. history as just come to a close, there is a chance this will happen again in the future and impacted folks may still not have received back pay. 

 

This puts veterinary colleagues who work for the government and get furloughed, or otherwise do not receive income for working in an even tougher position if they have student loans. However, any reduction of your income (like when the government shuts down) provides a reason to re-evaluate your student debt repayment strategy and consider an income-driven student loan repayment plan (IBR, PAYE, REPAYE) to reduce your current monthly payment under IBR, PAYE or REPAYE.

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Student Loan Interest Rates and Repayment — Don’t listen to your parents!

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.

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VIN Foundation | Supporting veterinarians to cultivate a healthy animal community | Blog | Exciting Enhancements to Veterinary Cost of Education Map

Exciting Enhancements to Veterinary Cost of Education Map

Interactive map provides long-desired true-cost view of attending veterinary school

Developed to help pre-veterinary students make better informed decisions when applying to veterinary school, the updated Cost of Education Map collates in one place, in one tool, the information individual students would spend days compiling and analyzing.

 

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.

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VIN Foundation | Supporting veterinarians to cultivate a healthy animal community | Blog | VETERINARY NEW GRADUATE STUDENT LOAN PLAYBOOK

New Veterinary Graduate Student Loan Playbook

Graduate, Consolidate, Get Started in Income-Driven Repayment

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.

VIN & VIN FOUNDATION LEARNING SESSION VIDEO:

If you borrowed student loans to help you through veterinary school, you do NOT want to wait until your grace period expires to get  your loan repayment plan started.  You can benefit from starting a Federal Direct Consolidation Loan as soon as your loans allow.  Let’s look at how you can use your student loan grace period in a financially beneficial way.

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VIN Foundation | Supporting veterinarians to cultivate a healthy animal community | Blog | Aspiring Veterinarians Apply Smarter

For the Aspiring Veterinarian — Apply Smarter!

Veterinary medicine is experiencing a student debt crisis. Yes, many higher education graduates experience loan repayment hardship; however the magnitude affecting recent veterinary graduates is unique.  Every day I counsel pending and recent graduates through the Veterinary Information Network (VIN) and via VIN Foundation who report student debt balances in excess of $200,000, $300,000 and $400,000 with incomes between $70,000 and $90,000 depending on where they choose to live and what type of veterinary medicine they are pursuing.  

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VIN Foundation | Supporting veterinarians to cultivate a healthy animal community | Blog | Sharing saves time, income-driven repayment saves money

Sharing saves time, income-driven repayment saves money

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.

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