It's a societal problem to some degree and not supply and demand imo and your example demonstrates it perfectly. People wanting to pursue careers no matter the cost because it "fulfills" them or the "I couldn't do anything else" thinking. If being 350k, 400k, 500k+ in debt just in student loans was unacceptable, not supported by the government, and people learned to limit themselves perhaps it wouldn't be this huge issue. If you have a solid plan to pay that 400k that's not on something like IBR and hoping the government doesn't screw a person over great, do whatever if that's what you want. Most these vets taking out that kind of money don't have that plan and it is in part going to kill our profession to a degree especially as we start to see IBR start and people having to pay these large lump sums to the IRS-if they even can. Being a vet wasn't worth more than 200k in loans personally for what I want to do-I would have walked away to another career easily. I know many people that flat out won't do it because it's all they've ever wanted to do. Not that those people don't deserve to be veterinarians, but these are the people that super expensive schools like LIU are targeting in and is in my opinion predatory and should not be opening/opened. They are targeting many applicants who got denied by other veterinary schools with lower costs because they know the students will take out the student loans even if it makes their life essentially unlivable after as long as they get to pursue their dream.
Do I agree with more schools opening not really. Is the demand there currently sure, but like someone else said as soon as another recession hits alot of vets will be hurting- my practice back home almost went under last time, reduced to the owning vet and two other people at what is usually at least 3-4 FT veterinary practice. It's also not going to solve the LA shortage because that problem is multifactorial with so many factors. There are alot of economic issues in vet med on the front end that need to be dealt with before all these new schools keep opening up.