High Debt and Falling Demand Trap. . .

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ela

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New Veterinarians

Anyone see this article in the NY Times today? Shockingly similar to the issues in psychology. In fact, you could essentially replace the word "veterinarian" in the article with "psychology" and likely have an accurate piece.

http://www.nytimes.com/2013/02/24/b...p-new-veterinarians.html?pagewanted=5&_r=0&hp

Excerpt:

" Today, the ratio of debt to income for the average new vet is roughly double that of M.D.’s, according to Malcolm Getz, an economist at Vanderbilt University. To practitioners in the field, such numbers are ominous, and they portend lean times for new graduates.

“We’re calling for more bodies coming through the veterinary educational pipeline at higher and higher cost at the very point in time that we need fewer and fewer,” says Dr. Eden Myers, a vet in Mount Sterling, Ky., who runs the Web site JustVetData, where she crunches numbers about the profession. “And they are going to get paid less and less.”

For years, the veterinary medical association contended that the United States needed more vets, not fewer, especially in rural areas. To support this view, in 2007, the organization helped underwrite a study, hoping to bolster a call for government assistance to help meet a putative shortfall of 15,000 vets by 2024.

The results, released last year, came to a strikingly different conclusion. Titled “Assessing the Current and Future Workforce Needs in Veterinary Medicine” and conducted under the auspices of the National Academy of Sciences, the study found little evidence of vet shortages. It also concluded that “the cost of veterinary education is at a crisis point.” "
 
I suppose one of the potential advantages for vets is that essentially circumvent the entire healthcare/insurance system. Although I would imagine that means they also get hit harder during economic downturns, given that many of their services could potentially ultimately be seen as "elective" by their clientele.

At the same time, I had no idea the median starting salary for vets was ~45k/year, which is rough given the quoted costs of school (upwards of $60k/year for out-of-state tuition and fees).
 
That sucks, one of my cousins is applying for vet school right now. D:
 
Exactly. Reminds me of the professional psychology situation. I wish they would write an article about clinical psychology and the debt trap. The median debt for a PsyD is now more than 120K (its 120K at the time of internship applications). I read that about 20% of PsyD's have over 200K in debt.
 
Couldn't they just work for the Department of Veterinary Affairs and get loan forgiveness?

Arr - arr - arr :naughty: :naughty: 😀:laugh::laugh:

*** ducks ***
 
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