Current Vets, what are you paying for loans?

[Lfrese01]

I posted this on the Vet Forum and didnt get many responses. I was hoping more vets might be browsing pre-vet.....

I have some questions about loans for recent veterinary school graduates (1 to 5 years):
How much in loans did you take out?
Were they all federal loans?
What payment plan are you on?
How much do you pay a month?
If you don't mind me asking- how much $ do you make?
Do you feel that your payments are manageable or they make your life difficult (ie are you stuck in a job you don't like just to be able to pay your loans back?)

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[kernel]

Not a vet yet but I hope this helps :

The veterinarian I shadow feels that she made a huge mistake in taking out the amount that she did in loans.

She pays about $1300 per month, which is about 1/4 of her paycheck every month. I don't know the details of her repayment plan. She's been working at this particular clinic for about 5 years, I believe. This is her second job out of vet school.

I will add, however, that she has her second child on the way and recently bought a house... Her husband makes only a modest salary. So she's alright, but I think she just wishes she'd thought it out more carefully. She went to a private undergrad and worked full-time to help pay for tuition costs.

 

[ViaBea]

I'm not a vet, but hygebeorht has a spreadsheet that may be interesting to you in the estimated costs of veterinary school thread that will give you an idea of how much you'll be paying per month if you take out the full cost of tuition and fees for each school.

 

[Jessperk]

Not a veterinarian, but last year I worked with a 2011 OSU graduate. I'm not sure what he made, but his loan amount was about $120,000 and his monthly payment was $1250. He said he had the option of a lower payment, but him and his wife wanted to get it paid down sooner.

 

[psilovethomas]

If you have an idea of what your debt load will be, use this calculator: http://studentaid.ed.gov/repay-loans/understand/plans/standard/comparison-calculator
I had to use it to make a budget for my business class. Looks like mine will be $1150/month for 10 years.

 

[lei325]

If you have an idea of what your debt load will be, use this calculator: http://studentaid.ed.gov/repay-loans/understand/plans/standard/comparison-calculator
I had to use it to make a budget for my business class. Looks like mine will be $1150/month for 10 years.

I just checked what I would owe with my loans. I screamed like a little girl.

 

[katryn]

I just checked what I would owe with my loans. I screamed like a little girl.

My husband made me look at mine the other day. It made me cringe. Then I remembered that one of my friends is OOS and it made me want to go bake him cookies and say I'm sorry for him.