Link to Financial Aid Calculator

[TomTheK9Fixr]

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CALCULATOR enter figures if you dare (really you should b/c it's reality)

Income Based Repayment CALCULATOR (ahhh this makes happier) *note: check to see if your loan type will qualify

Well, after much pondering I am back to 50/50 on whether I am going to attend veterinary school.

It's my dream but paying anywhere from $1400-$2500 per month for 10 - 30 years is a BIG pill to swallow. Perhaps too big. If only salaries were higher and the economy was better.

Ay yi yi

What's making this even tougher is that my current loan payment for a masters in rehab sciences with statistically better income (per national database) is $99/month spread over 10 years

 

[EllieGirl89]

Have you looked into the income-based repayment programs? When I calculated my expected debt versus my expected income I came out to a repayment of just under $400 a month for 25 years. That seemed pretty do-able to me.

 

[TomTheK9Fixr]

Have you looked into the income-based repayment programs? When I calculated my expected debt versus my expected income I came out to a repayment of just under $400 a month for 25 years. That seemed pretty do-able to me.

Yes, but be careful because they have certain criteria which have to be met. Don't just assume that you'd qualify for IBR. I have a friend with a 100k and 45k salary, he did NOT qualify.

 

[bee83]

Cool, thanks for that. 👍

 

[TomTheK9Fixr]

Added an INCOME BASED REPAYMENT CALCULATOR to OP

 

[teatime]

I think it was mentioned in another thread that some people did not qualify for IBR. Do you know/can think of reasons why they didn't qualify? was it based on their loan amount or something about the type of loans?

I'm really trying to get a good idea of I'll qualify for this...

 

[thereservoirdog]

They're also changing the IBR loans in 2014 so that the cap is 10% and 20 years. Pretty sweet

 

[that redhead]

Thanks for this! Good luck with your decision - it isn't an easy one.

 

[Pelagia]

HA, my salary needs to be more than double what my actual starting salary will be so that I can make the monthly payment without experiencing economic hardship. UGH. Very depressing. I am grateful that I have a husband who will also be working when I start working as a vet (not making much since he's a new teacher, but better than nothing), but even then, we are barely going to be able to make those monthly payments without economic hardship, according to those charts.