Going International - Is it worth it?

[jasps]

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After discovering this forum, I told a friend about it and she composed this question to send your way. She's not big into forums/facebook/msn so I figured I'd post it for her since I'm also interested to hear what you guys have to say.


"" I'm considering applying to Edinburgh, Glasgow and Dublin for Fall 2010 entry, but $200K+ debt upon graduation is a daunting prospect. Being from Canada, where I can get a DVM degree for $50K, it's an even bigger dilemma.

I've been rejected from the only vet school available to me up here once (which is also my undergrad school) but I have 3 more tries. At the same time, I truly think that the UK schools are better suited to me and I feel a strong urge to get out of this city, get out of the country, to start over. I feel that living/learning in the UK would be an unmatchable experience. But $200k+ worth? ....

To those of you who chose to go overseas over your IS school, do you still think it was worth it? "

 

[Nexx]

For me to go international was entirely worth it... I could have waited two more years doing more pre-reqs while working making a 'livable' wage and paying a lot to go to Uni (not necc applicable to your friend), or head to Australia for school.

So the theoretical difference in tuition is $150k for the length of the program. So looking at that...

Depending on her current job she could be making $30k or so (probably being generous here) a year if she was going to work in the vet industry (more outside) to be more competitive and may even have to take additional coursework.

Making the following assumptions, that your friend can work at $30k a year and doesn't have to more classes but it takes 3 more application cycles to get in and held no job while in vet school--this would have her earning $90k over that time period of 7 years and assuming all of that was pocketed means you are ahead $40k.

Whereas if she went over seas and spent $200k over 5 years with no income until after you graduate. But, after you graduate you are looking to make $60k/year and that means you end up 'behind' by $80k for the same time period.

So yeah, you are looking at a difference in 'cost' of only $120k. This is of course an over-simplified look at it and it really would come down to the math and how the adcoms felt about the application if she did a sit down with them afterwards. We don't know your friend but I suppose it is possible to be rejected all 3 times and never get into that school. Then it certainly does look a whole lot better to head overseas earlier.

It's also a matter of what your friend wants out of her education. The opportunity to live overseas for me was also a big drawing factor. Also you can look at the different school programs as well to compare cost of living + tuition and potentially find 'cheaper' schools -- Massey comes to mind as does Melbourne and Sydney with their 4 year programs for some international students (I think they all have a 4 year program anyhow.. been a while since I checked!). Murdoch is running at about $43k/year USD for 5 years so that wouldn't really be a savings from your numbers.

I don't see a difficulty in being able to pay off my debt load, it may be tight but it should be doable.

 

[hopefulvet21]

I guess it just depends on how much she values being able to go abroad versus the extra debt. I don't have an in-state or really low-cost contract school, so I'm really not going to accrue a huge amount more of debt by going abroad. I think if I go to Melbourne (which at the current exchange rate is about $33k/year) I will actually save money.

Also, FYI, Melbourne has a 4 yr. program, Sydney only has a 5 yr. program, and Massey has a 4.5 yr program. Edinburgh has a 4 yr. program, but I don't think Glasgow does (?). And Dublin does too.

 

[shortnsweet]

Glasgow has only a 5 year program...Dublin has both 4 and 5 year

 

[Tayaki]

After discovering this forum, I told a friend about it and she composed this question to send your way. She's not big into forums/facebook/msn so I figured I'd post it for her since I'm also interested to hear what you guys have to say.


"" I'm considering applying to Edinburgh, Glasgow and Dublin for Fall 2010 entry, but $200K+ debt upon graduation is a daunting prospect. Being from Canada, where I can get a DVM degree for $50K, it's an even bigger dilemma.

I've been rejected from the only vet school available to me up here once (which is also my undergrad school) but I have 3 more tries. At the same time, I truly think that the UK schools are better suited to me and I feel a strong urge to get out of this city, get out of the country, to start over. I feel that living/learning in the UK would be an unmatchable experience. But $200k+ worth? ....

To those of you who chose to go overseas over your IS school, do you still think it was worth it? "

Yes, it is totally worth it. You can't really put a price on your dream career, can you? Ok, technically you can but I think happiness is worth far more than the price of debt.

Does she want to talk to a fellow Canadian who did the abroad studying thing? I have a good friend who is a classmate of mine who like me, dropped everything and came over to Ireland.

I hope she gives it a go. There's nothing like studying abroad, especially in a place like Ireland (sheep, horses and cows are EVERYWHERE!).

 

[jasps]

Thanks everyone!

I definitely don't think you can put a price on your dream career. But in her situation, she could potentially still get in to her home school in the next 3 years for $150k less.

I think what she's getting at is whether you guys thought the experience itself is worth the extra debt, even if you may have had a choice to go cheaper.

She's definitely only applying if she can get into the accelerated 4-year programs. We know that Dublin and Edinburgh offer a graduate entry program, and we thought we heard Glasgow offered it too in some cases, but maybe we're mistaken?

When looking at a price breakdown, it also seems that Dublin is quite a bit more expensive than Edinburgh when everything is converted back to dollars (American or CAN).

As for Autralia, I think she prefers going to Europe because she has a lot of family there and would consider staying and living over there after graduation.

Tayaki, we would both love hearing from a fellow Canadian studying in a vet program abroad! And we're both avid readers of you blog 😉

Anyone else, feel free to comment with your opinions, suggestions, experiences, whatever!

 

[shortnsweet]

Glasgow does it on a year by year basis. It always depends on how big the second year class is if they will accept people directly into that class. I am pretty sure they did not do it this year, but depending on the size of 2014, she may be able to get into the direct entry/late entry programme. That, however, is probably a question she should direct to Joyce Watson who is the admissions director.

 

[david594]

What is the canadian loan situation currently like? Are loans really even available to fund a $200,000 foreign education?

 

[jasps]

What is the canadian loan situation currently like? Are loans really even available to fund a $200,000 foreign education?

That's the tricky part. Most government education loans are no longer available for us Canadians as of last year, but most banks will give you loans with a co-signer. Unfortunately that means you're accumulating interest while in school.

To tell you the truth, we're having difficulty finding concrete information on the subject. We're still in the theoretical when it comes to planning for International schooling.

 

[david594]

The other tricky part is the exchange rate.

I had really wanted to go see PEI and possibly attend, but with the current exchange rate it would have cost me ~$30,000 more than OSU. $30k not being a horrible difference, but if the exchange rate were to shift back to where it was just 1 year ago that Canadian education would have cost me ~$80,000 more than OSU. A big difference especially considering that would all be Grad Plus loans with 8.5% interest! A risk I simply wasn't willing to take at this point in time.

 

[lcarter103]

I'm also Canadian, and I think we are incredibly lucky to be able to attend vet school here without accruing massive amounts of debt. Since you've only applied once to vet school (I'm assuming Guelph?), I would highly recommend applying again to the Canadian school. I know many, many people who did not get into vet school here the first time they applied (including me), and so assuming you have a reasonable chance of getting into school here (which you can find out by talking to the admissions people), I would definitely apply again. $200000 in debt is HUGE, and if you have the option to avoid that, I would definitely try. I know living and learning in a different country is very appealing, but you can always move there and work AFTER you finish your DVM degree.

 

[eatpinkpenguins]

Totally random and I don't know if this applies to anyone here, but Melbourne is adopting the DVM 4-year post BS/BA program in 2011, so no more bachelors degree there with 19 years olds. Here is a little video they posted.

http://www.vet.unimelb.edu.au/video/centenary.html

👍👍

And here is an awesome blog by a melbourne student

http://www.nearlydrferox.blogging4life.com/

Sorry- I have a mild australian obsession and really want to do a summer vacation/shadow a rural vet there! 😀