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.
While we can help veterinarians navigate these repayment challenges, the old adage “an ounce of prevention is worth a pound of cure” is a significant part of the solution. A key driver of the crisis is the decreasing availability of discounted tuition seats for veterinary school; those seats that allow you to pay an in-state or otherwise discounted tuition rate.
We’re knocking on the door of another veterinary school application cycle. The Veterinary Medical College Application Service (VMCAS) for the veterinary class starting in Fall 2020 is now open. As you apply for veterinary school this year or beyond, Apply Smarter!
Visit the Apply Smarter page on the VIN Foundation Vet School Bound website for the webinar recording and additional Apply Smarter resources.