The VIN Foundation, a nonprofit network of more than 58,000 veterinarians and students worldwide, is now offering a great online resource for veterinary debt. The VIN Foundation Student Debt Center provides a wealth of free information on educational costs and payment options that can be of great value to vet students and recent graduates.
One of the most useful features of the website for aspiring veterinary students is the cost of education map. This map shows the cost of attending each veterinary school, factoring in living expenses and resident/non-resident tuition rates. It also shows the ranking of each school from least to most expensive for you, based on your state of legal residence. Veterinary tuition and living expenses can vary by thousands of dollars from one school to the next, so this is a critical consideration for vet students considering their educational options.
Another great tool is the student loan repayment simulator. This interactive application can help students work through repayment options while factoring in anticipated income, family information, total loan amounts, interest rates, repayment plans, and loan forgiveness. This simulator allows you to try many different scenarios to see how each plan could work in your specific situation.
With veterinary students facing an unhealthy debt to income ratio of more than 2:1 (far greater than their medical school counterparts), veterinary debt has become a critical issue for the profession. The VIN Foundation website is definitely something to check out if you are considering a career as a veterinarian!