Do you have student loans? Are you confused about how or when to get your repayment plan started? What’s the “best” strategy for paying your student loans now that you’ve graduated veterinary school? Does COVID-19 impact any of those plans? The VIN Foundation Class of 2021 Student Loan Playbook is here to help!
Conventional wisdom and reflex in the medical training community often says to defer your loans while pursuing internships and/or residencies. However, income-driven repayment (IDR) is often a much better option for veterinarians with federal student debt pursuing advanced education. The VIN Foundation Climbing Mt. Debt – Interns and Residents webinar and tools are here to help!
Watch the webinar recording below of the recent Repay Wiser webinar from the VIN Foundation in collaboration with the Veterinary Information Network (VIN). In this video Tony Bartels, DVM, MBA covers common myths and misconceptions including loan forgiveness, income recertification, as well as the pitfalls and challenges associated with student loan repayment using real-world experiences. We welcome any questions and feedback.
Review the Repay Wiser presentation materials including clickable links to the resources referenced in the presentation. Think of this as the “slide deck” you can click through and review at your own leisure as a quick summary of the webinar.
All this information can be overwhelming. The Repay Wiser Checklist provides a clear outline of steps to help veterinarians with student debt save time, money, and stress as they Repay Wiser for their specific student loan situation.
Student loans are often a necessity to pay for your veterinary education, but understanding your debt and how to Repay Wiser will reduce your stress and let you get on with enjoying your career and life.
Using the Repay Wiser strategies veterinarians with student loans can answer the following questions:
1) What’s the “best” way to repay your student loans?
2) How much should you pay each month?
3) How long will you be in repayment?
4) What should you do if you think you’ll reach loan forgiveness?
5) How can you reassess your situation annually?
You can see the impact of your student loans, interest, and various repayment scenarios using the VIN Foundation Student Loan Repayment Simulator.
If you’re a recent veterinary school graduate, check out the Class of 2020 Student Loan Playbook for information on your specific Repay Wiser situation.
Repay Wiser is part of the VIN Foundation Student Debt Center three part series of helping veterinary colleagues throughout their student loan path. It starts with pre-veterinary students learning how to Apply Smarter to veterinary school, continues for veterinary school students as they learn how to Borrow Better while in school, with the final (and longest) journey along the path helping veterinarians Repay Wiser.
As always the VIN Foundation welcomes questions and feedback on all of the tools and initiatives available.
The helpful three part student loan series Apply Smarter, Borrow Better and Repay Wiser is part of the VIN Foundation Student Debt Center. The VIN Foundation Student Debt Center is a mobile-friendly comprehensive resource helping veterinary students, veterinarians, and those who support them manage student debt through school and beyond. Explore the VIN Foundation Student Debt Center.