40 Veterinary School Loan Estimations in 60 Days

School estimates will be provided for resident and non-resident seats for each veterinary school in the U.S., Puerto Rico, and the Caribbean.

Estimates assume that the student is eligible for U.S. student loans and requires the estimated Cost of Attendance (COA) provided by each school. COA includes tuition, fees, and estimated living expenses. While many schools will increase tuition, fees, and living expense estimates during the program, these VIN Foundation loan estimations do not assume annual increases during school. Most schools do increase your tuition, fees, or living expense estimates during school, which may add to the total costs.

The estimates in the 40 in 60 table fund COA using federal and private student loans only. While many students may receive scholarships, grants, other loans (like Health Professions Student Loans (HPSL) or Loans for Disadvantaged Students (LDS)), or have personal funds available to reduce student loan need, these sources of funding cannot be assumed to be available for all students each year. Thus, consider these estimates to be at the higher end of borrowing need for each school and seat type.

Expert Tip: If you receive or have other sources of funding, you can edit the estimates provided and update your veterinary school loan estimation. You can adjust downward the loan estimates to account for any funds available to offset the estimated private and federal student loan amounts.

Interest rates for student loans will be estimated from the current 10-Year U.S. Treasury yield trend. Federal Direct Unsubsidized Loan interest rates are set using the 10-Year U.S. Treasury yield plus an add-on factor of 3.6 percentage points in May/June of the preceding academic year.

Any required private student loans will assume a rate 3 percentage points higher than the Direct Unsubsidized loan rates for professional program students. Private student loan interest rates are affected by numerous factors, including borrower creditworthiness, loan amount, terms, and macroeconomic conditions.

Your goal — should you choose to accept it — will be to borrow less than these estimates, utilizing as little (or no) private student loans as possible.

Private student loans are less flexible than federal student loans. The higher your estimated COA, the greater the likelihood that you will need loans beyond the annual $50,000 federal loan limits for professional school (ie, veterinary school) and the maximum program limit of $200,000.  The more private student loans you need, the higher your borrowing and repayment risk. 

Ask yourself the following questions:

• “Does my school’s tuition and fees exceed the new annual federal student loan limits?” If so, “How many years?”
• “Do I need to borrow more than just tuition and fees? If so, how many years does my school’s total Cost of Attendance exceed the new federal loan limits?”
• “Can I get the amount needed in private student loans to finish each year, in case I need private loans?” And if so, “How much will my total student loan payments be after graduation?”
• “Does my school offer scholarships, or other loans like Health Professions Student Loans or Loans for Disadvantaged Students to help me reduce or eliminate my private student loan need?”

The more you need in student loans, the more interest will accrue during school, too. One of the more striking numbers you’ll see in the estimations is the projected interest amounts for each program. The more interest accrues during school, the higher your monthly payment will be after graduation, particularly for your private student loans.