OOS people, how the heck are we going to pay back these loans?

[knr1527]

Hey all, I've been accepted to MSU and am thrilled. I'm OOS however, and have calculated that with living expenses I will be taking 280,000 in loans to cover this. at an average vet salary of 70,000 per year, it will take me 25 years to pay back, and I'll pay a total of 95,000 in JUST INTEREST. Wow. I don't want to re-think my career, but I'm terrified to take on this much debt. Other OOS people how have you managed/planned to pay this back? Thanks,

PS. My in-state is Cornell. I was wait listed, and thought about waiting and re-applying next year but they said my odds would worsen if I turned down another offer...

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[hopefulinva]

You would really have to consider if this is something you'd actually like to do, but if it is - the Army will pay for years 2-4 with an additional $20k/year stipend. It's NOT free money; you're expected to enroll in the reserve while you're in school, and commit at least 3 years of active duty (I believe? Maybe it's 5 years?) once you complete the program.

I spoke briefly with Admissions at VMRCVM, because this is something I'd be interested in doing provided my SO doesn't mind being a military spouse, and she said veterinarians, being doctors, are entered into active duty at the "Captain" level.

Anyway, it's something to consider. I'm sure there are people on these forums better versed in this than I am; maybe they could expand on this for you if it's something you're interested in.

 

[psilovethomas]

I am attending MSU OOS this fall as well. I probably would not attend if my parents didn't offer to help me significantly. I will probably have about ~100k in loans, which is about [below] average debt. I would seriously consider going into almost 300k in debt on a vet's salary. Start looking at scholarships. Do you have any UG debt? That will help you when applying for grants and scholarships.

 

[orca2011]

You would really have to consider if this is something you'd actually like to do, but if it is - the Army will pay for years 2-4 with an additional $20k/year stipend. It's NOT free money; you're expected to enroll in the reserve while you're in school, and commit at least 3 years of active duty (I believe? Maybe it's 5 years?) once you complete the program.

I spoke briefly with Admissions at VMRCVM, because this is something I'd be interested in doing provided my SO doesn't mind being a military spouse, and she said veterinarians, being doctors, are entered into active duty at the "Captain" level.

Anyway, it's something to consider. I'm sure there are people on these forums better versed in this than I am; maybe they could expand on this for you if it's something you're interested in.

Isn't that program uber competitive or am I thinking of a different one? And I think the time you serve can very depending on whether or not you decide to specialize as well. I think you serve an additional year for each extra year beyond school that is required.

 

[hopefulinva]

Isn't that program uber competitive or am I thinking of a different one? And I think the time you serve can very depending on whether or not you decide to specialize as well. I think you serve an additional year for each extra year beyond school that is required.

I haven't heard much about its competition level. There's a recruitment representative swinging through here this weekend so I guess I'll learn more about it then.

 

[orca2011]

And I'm in a similar boat. I only got in abroad and my mom and I were just calculating some numbers. If I go, I'm coming out with ~$290k in debt, which really isn't bad since the CoA according to the charts provided in the CoA thread for my IS is around $285k. I also have ~$30k from undergrad. Currently looking to see if I can find any scholarships, but much of what I'm finding is limited to the US. =(

 

[Emiloo4]

Isn't that program uber competitive or am I thinking of a different one? And I think the time you serve can very depending on whether or not you decide to specialize as well. I think you serve an additional year for each extra year beyond school that is required.

It is insanely competitive and they are reducing the number of people they give it to even further. I think only 5 vet students got it last year. And unfortunately the things you do after school don't really keep your mind sharp in the vet med field... things to think about.

I believe it is based off of your GPA in your first semester or two as well. And you have to do 45 days of service each year you are in school. I have spoken to a recruiter about it because I am interested as well. You can request an info packet on their website and they don't bother you after they send it

 

[psilovethomas]

It is insanely competitive and they are reducing the number of people they give it to even further. I think only 5 vet students got it last year. And unfortunately the things you do after school don't really keep your mind sharp in the vet med field... things to think about.

Also, keep in mind that you may be deployed, and you must complete a tour. It's not just free money. There is a commitment.

 

[knr1527]

Yeah I don't have any undergrad debt, but I'm flexible about which area of vet med I do (food animal, lab animal, etc.). This is kind of terrifying. I don't think I would be interested in the military program, however there are supposed to be government programs for food animal people right? Anyone know much about these?

 

[orca2011]

Also, keep in mind that you may be deployed, and you must complete a tour. It's not just free money. There is a commitment.

Hence the reason I'm not pursuing that option. Totally supportive of the military, I just don't have the mind set to do any of that.

 

[psilovethomas]

Yeah I don't have any undergrad debt, but I'm flexible about which area of vet med I do (food animal, lab animal, etc.). This is kind of terrifying. I don't think I would be interested in the military program, however there are supposed to be government programs for food animal people right? Anyone know much about these?

Hah to that, too. Those programs are advertised, but EXTREMELY SUPER competitive, and there are very few spots.

 

[orca2011]

Yeah I don't have any undergrad debt, but I'm flexible about which area of vet med I do (food animal, lab animal, etc.). This is kind of terrifying. I don't think I would be interested in the military program, however there are supposed to be government programs for food animal people right? Anyone know much about these?

Not much except that they'll cover some of your loans. I'm not sure how many years it requires or anything like that. It's something I've been meaning to look into because I could potentially do a job I don't 100% love (and I've never done anything food animal related to really know if I'd dislike it or not but I've heard the gov't side of it isn't pretty) to get rid of my debt and be more at ease later down the road.

 

[PetPony]

I'm going to be looking into the food animal programs also. Usually (from what I've heard) they are in areas, that don't have enough money to support a vet, which is why the gov't is trying to find vets to work there (people just can't work there and be able to pay off there loans often times). I am hoping that my bf (by then probably husband) will be making enough money to support us, so that I can take a job in an underserved area and still be able to pay my loans why the gov't is also paying for parts of my loans.

 

[psilovethomas]

I'm going to be looking into the food animal programs also. Usually (from what I've heard) they are in areas, that don't have enough money to support a vet, which is why the gov't is trying to find vets to work there (people just can't work there and be able to pay off there loans often times). I am hoping that my bf (by then probably husband) will be making enough money to support us, so that I can take a job in an underserved area and still be able to pay my loans why the gov't is also paying for parts of my loans.

You will still get paid (pretty well, too, I think) while working under this program. You would also get great benefits.

Again, I know these programs exist, but there are a very limited number of positions.

 

[thepidog]

I'm considering selling some eggs. I've heard it's up to 10k a pop...and I don't want them...

 

[orca2011]

I'm considering selling some eggs. I've heard it's up to 10k a pop...and I don't want them...

I've considered that as well, but I don't want to be on hormone treatments for a year, so I dunno. Plus, then I couldn't do anything fun since you have to live like a super clean lifestyle.
But it would be a great way to a) get rid of my undergrad debt, and b) make some money for vet school lowering my expected debt.

Orrrrr. I could just somehow marry an NFL star. That would work too.

 

[Virginger]

I'm considering selling some eggs. I've heard it's up to 10k a pop...and I don't want them...

oooooh, I admit its a bit tempting... not sure i like the idea of being induced into superovulation ... then you dont know who is running around with your genetic babies... however you can do it up to 6 times and get $6,000 per round


.... [i know this is a bad answer, i mean it as a joke] ... Marry RICH.

(insert smilie with dollar signs for eyes here)

 

[thepidog]

http://sugardaddie.com/

This is for real. "As featured on Dr. Phil..."

 

[Zusie]

I think nearly $300k in loans is a bad idea. I turned down both Kansas State and Mississippi State (I loved both schools) because their out of state was so bad, even 3 years ago. I also preferred a smaller class size.

Did you calculate additional tuition increases throughout the 4 years? Ours has been at the very least a 5% increase per year, I believe.

Also, with what the 4th years are currently going through finding jobs, I'm also not sure I would recommend it. Job/salary prospects looking like they are, it doesn't seem like a good idea to take on that much debt. Not that I can predict 4 years into the future, of course. Things were looking pretty good back when I was applying (only a few vets I talked to back then made some comments about the profession that in retrospect I understand better now).

I'm fortunate that I went to a state school undergrad and had my tuition completely covered by scholarships. My family also saved money for my college, so I was able to use the remainder of that for vet school tuition my first year. Now I'm on loans. I believe a rough estimate of where I'll be at by the time I graduate is somewhere between $125,000-150,000. My family has also been helping me keep the interest paid off and says that they will help pay off loans taken to cover my student living expenses after I graduate. I'm very fortunate to have a family that supports me so much. My living expenses are about $10,000-12,000 a year.

Hopefully since I am free to live anywhere in the country after graduation, things will turn out okay for me job-wise next year. It's scary with over $100k in loans. I can't imagine it being over double that.

I wouldn't count on getting into the Army or Air Force programs. I believe they are both very competitive. The large animal loan repayment plan is also extremely competitive.

Schools are going to keep letting in people and bumping up tuition to meet expenses because they know people want in the program badly enough and student loans up to the cost of tuition and living expenses are readily available to us. The school's only obligation to you for your money is to provide an excellent veterinary medicine education - which they do. However, at the end it's you who have to find the job and pay off your loans. 25 years is a long time.

 

[shellbell4e]

Is it sad that UC Davis IS tuition is estimated to increase to around $42k according to AAVMC general info chart...

I could actually save money going OOS. bleh.

 

[orca2011]

I think nearly $300k in loans is a bad idea. I turned down both Kansas State and Mississippi State because their out of state was so bad, even 3 years ago. I also preferred a smaller class size.

Did you calculate additional tuition increases throughout the 4 years? Ours has been at the very least a 5% increase per year, I believe.

Also, with what the 4th years are currently going through finding jobs, I'm also not sure I would recommend it. Job/salary prospects looking like they are, it doesn't seem like a good idea to take on that much debt. Not that I can predict 4 years into the future, of course. Things were looking pretty good back when I was applying (only a few vets I talked to back then made some comments about the profession that I understand better now in retrospect).

I'm fortunate that I went to a state school undergrad and had my tuition completely covered by scholarships. My family also saved money for my college, so I was able to use the remainder of that for vet school tuition my first year. Now I'm on loans. I believe by the time I graduate I will be at about $125,000-150,000. My family has also been helping me keep the interest paid off and says that they will help pay off loans taken for living expenses after I graduate. I'm very fortunate to have a family that supports me so much.

Hopefully since I am free to live anywhere in the country after graduation, things will turn out okay in my case job-wise.

I wouldn't count on the Army or Air Force programs. I believe they are both very competitive. I believe the large animal loan repayment plan is also extremely competitive.

Schools are going to keep letting in people and bumping up tuition because they know people want the program bad enough and student loans up to the cost of tuition and living expenses are readily available. Their one obligation to you is to provide an excellent veterinary medicine education - which they do. However, at the end it's you who have to find the job and pay off your loans. 25 years is a long time.

I agree that 300k is not a great situation, but for some of us, that's what it comes down to no matter what. My IS costs about that much, so either way, I'm pretty much screwed. And even though I have debt from undergrad, I think it's a lot lower than what I would have walked away with from my state school, which is constantly have it's funding cut.

And in regards to family, that is super awesome that your parents are willing and able to do it, but probably for most of us, that's not the case. My parents definitely support me, but they can't financially and I have no reason to expect them to pay off my interest as it accumulates or pay for living expenses, etc. They're currently also helping my sister through college while attempting to maintain a small, personal business. Plus, they're approaching that age where they can retire and that's probably not going to happen because they have to keep working.

So I guess what I'm saying, is that the higher end of the debt spectrum is what a good number of us are going to face no matter what, and yeah, I question if it's worth it. But I also know that I'd probably regret it if I gave up now.

And I'm sorry if I sound defensive/accusing/whatever, and maybe I am since I'm not super fortunate (and therefore kind of jealous) in regards to having all that financial support from my parents. They definitely help me out with the small things, but there is no way they can help me that much with this unless they're hiding a fortune I don't know about.

 

[jmo1012]

.... [i know this is a bad answer, i mean it as a joke] ... Marry RICH.

(insert smilie with dollar signs for eyes here)

after a two hour rambling lecture about finances from a vet we were working with at our school clinic, he said, you know what? just marry rich. thats the best advice i've got

 

[knr1527]

even though I don't have undergrad loans, my family doesn't have enough money to help me. basically its paying this OOS rate and 300k debt, or not being a vet. I don't know how to chose. I don't want to turn it down, I don't even know what else I would do. This is all I've wanted, but I don't know if its possible to pay that much back....who knows where the economy will be in 4 years...

 

[Zusie]

When I applied, I was put on the wait list for Kansas State and Mississippi State (OSS). One of them (I don't remember which) told me that they usually had to go through about 3 people before they filled each out-of-state seat. Sure enough, both ended up calling me to offer me seat. By then I was in a position to decline and pass the offer on to the next person. I'm sure the other schools go through about the same situation with their out of state applicants. But they know they'll eventually find someone that will pay the tuition. Granted, a lot of the people that decline those seats probably declined due to being accepted somewhere else - but I imagine cost was probably a large factor in why that individual selected another school.

$300,000 is a lot of money.

 

[CanHardlyWait]

You would really have to consider if this is something you'd actually like to do, but if it is - the Army will pay for years 2-4 with an additional $20k/year stipend. It's NOT free money; you're expected to enroll in the reserve while you're in school, and commit at least 3 years of active duty (I believe? Maybe it's 5 years?) once you complete the program.

I spoke briefly with Admissions at VMRCVM, because this is something I'd be interested in doing provided my SO doesn't mind being a military spouse, and she said veterinarians, being doctors, are entered into active duty at the "Captain" level.

Anyway, it's something to consider. I'm sure there are people on these forums better versed in this than I am; maybe they could expand on this for you if it's something you're interested in.

Be careful and don't bet on this though. I have a friend who has been a vet for a 6-7 years and 3 years ago was recruited to serve in the armed forced veterinary service. She did all the paperwork, started running so that she could meet the physical training requirement and was just about to begin service when she was informed that she was accepted to join the service as an officer but was not going to be offered any tuition repayment. The pay for service was really low also, not at all what a vet usually makes. Not trying to be a downer (especially to my future class mate ), just passing along some info...

 

[StartingoverVet]

B, started running so that she could meet the physical training requirement and was just about to begin service when she was informed that she was accepted to join the service as an officer but was not going to be offered any tuition repayment. ...

At least she is in "good shape" now.

 

[CanHardlyWait]

Hey all, I've been accepted to MSU and am thrilled. I'm OOS however, and have calculated that with living expenses I will be taking 280,000 in loans to cover this. at an average vet salary of 70,000 per year, it will take me 25 years to pay back, and I'll pay a total of 95,000 in JUST INTEREST. Wow. I don't want to re-think my career, but I'm terrified to take on this much debt. Other OOS people how have you managed/planned to pay this back? Thanks

I'm in the same position, accepted to VMRCVM OOS, looking at nearly $45,000 a year in tuition alone. I'm waitlisted at my IS also. After some serious time contemplating what I am calling THE FEAR about the money, my husband and I decided that at the end of the day money just isn't that important to us. We're going to spend the rest of our lives paying off something, might as well be this. A veterinary education means more to me than an income, and I really feel called to this profession so that I can have a positive impact on the lives of both people and animals. I believe that you can't put a price tag on that.
However, that is just our opinion. Each person (or couple) needs to make that decision for themselves. Think about it for a while, you'll find out what it right for you.

And, damn... to late to marry rich. I married just for foolish love. Which you can also not put a price tag on

 

[CanHardlyWait]

At least she is in "good shape" now.

She actually did her first triathlon last summer

 

[Minnerbelle]

And, damn... to late to marry rich. I married just for foolish love. Which you can also not put a price tag on

awww that's sweet

one thing that makes me feel really sad about this is that i can't shake this guilt for having sucked up so much resources for my education. i dread the day that i tell my kids that they can't go to college where they want to because all the family's money's been spent on mom's dream education/career. i know it's totally normal (and i think a great lesson) for many kids to be responsible for financing their own education... but it makes me feel guilty to know that they don't get to enjoy the same privileges that i did because of the choices i made.

 

[Spinach Dip]

This is the one thing that really terrifies me about vet school--being in debt for the next couple decades. (I have 20k in undergard loans and, although my family does support me, they can't give much financial support.)

Of course, I have not even been accepted yet, so the prices are sure to go up by a couple percent between now and next year. -_-



I, also, have thought about the military option. The greatest problem I have with that, however, is I can't find a good description of what military vets actually do. Everything I've read is either overly vague or focuses on a single aspect of the position.

 

[Zusie]

The career that the Air Force offers you is Public Health/Food Safety related. Someone please correct me if I am mistaken, but I believe they told us the actual "Veterinarians" that see animals on Air Force bases are Army. All I know is what the recruiters told us at the lunch meetings - I never did much outside research beyond that.

 

[gracietiger]

augustwest, where did you find the statistic that davis is projected to be 42k (which is horrifying)???

i am deciding between CSU OOS and UC Davis IS, which, financially isn't really much of a debate, but i'm having a really hard time letting go of CSU. if davis' tuition is going to skyrocket, i might use that to convince myself it is okay to attend csu.

 

[StartingoverVet]

augustwest, where did you find the statistic that davis is projected to be 42k (which is horrifying)???

i am deciding between CSU OOS and UC Davis IS, which, financially isn't really much of a debate, but i'm having a really hard time letting go of CSU. if davis' tuition is going to skyrocket, i might use that to convince myself it is okay to attend csu.

Sounds like my rationalization for coming to Penn f/CA. I figured with CA problems not going away, rate of tuition increases at Davis would be much higher than Penn, and the difference would be pretty small by the time I graduated.

Forgot that PA isn't doing much better, but so far % increase at davis>penn....

 

[skinn1212]

There is an income based loan repayment plan where you have to pay up to 10 or 15% (im not sure which) of your income towards your loan. As of now you pay this for 25 years but congress is voting by June to make this a 10 year program. At the end of the 10 or 25 years (depending on the vote) you have to pay taxes on the remaining balance. The tax penalty could be hefty but you could still potentially be loan free in 10 years.

 

[Myotis]

augustwest, where did you find the statistic that davis is projected to be 42k (which is horrifying)???

i am deciding between CSU OOS and UC Davis IS, which, financially isn't really much of a debate, but i'm having a really hard time letting go of CSU. if davis' tuition is going to skyrocket, i might use that to convince myself it is okay to attend csu.

I'm in a similar situation (accepted OOS at Tufts and IS at Davis) and am also having a hard time letting go of Tufts (my dream school) for IS tuition at Davis, especially if Davis' tuition really is going to reach 42k.

I emailed the Davis to ask about this, because according to the Davis financial aid brochure, tuition for 2012 is expected to be 33k, but according to AAVMC it's expected to be 42k. Basically, the just told me that they have no idea what it's going to be, which really doesn't help us much

I attend a CSU currently, so I know Ca tuition is out of control right now. Our tuition has nearly double since I started in 2007, and in the last 5 years, UCDavis tuition has gone up about $10,000

 

[August West]

Is it sad that UC Davis IS tuition is estimated to increase to around $42k according to AAVMC general info chart...

I could actually save money going OOS. bleh.

Are you sure about this being accurate? That would be a huge increase!

 

[August West]

augustwest, where did you find the statistic that davis is projected to be 42k (which is horrifying)???

i am deciding between CSU OOS and UC Davis IS, which, financially isn't really much of a debate, but i'm having a really hard time letting go of CSU. if davis' tuition is going to skyrocket, i might use that to convince myself it is okay to attend csu.

Weird. I didn't post such information, but was just asking the same question.

 

[August West]

I'm in a similar situation (accepted OOS at Tufts and IS at Davis) and am also having a hard time letting go of Tufts (my dream school) for IS tuition at Davis, especially if Davis' tuition really is going to reach 42k.

I emailed the Davis to ask about this, because according to the Davis financial aid brochure, tuition for 2012 is expected to be 33k, but according to AAVMC it's expected to be 42k. Basically, the just told me that they have no idea what it's going to be, which really doesn't help us much

I attend a CSU currently, so I know Ca tuition is out of control right now. Our tuition has nearly double since I started in 2007, and in the last 5 years, UCDavis tuition has gone up about $10,000

Last year's tuition for Davis was $32,976. I find it really hard to imagine the cost going up 10K in one year. Could that be OOS? Or possibly include other expenses like the computer, health insurance, etc.?

 

[Myotis]

Last year's tuition for Davis was $32,976. I find it really hard to imagine the cost going up 10K in one year. Could that be OOS? Or possibly include other expenses like the computer, health insurance, etc.?

According the the AAVMC fact sheet, 42k was for instate tuition (and out of state tuition) only. I find it hard to believe as well, but I do expect tuition to go up substantially in the next 4 years. When I emailed Davis about it, they didn't say if it'd be closer to 33k or 42k, just that it was just an estimate (as for which one was an estimate, I have no clue haha) and I know Ca public schools have a wonderful habit of not releasing tuition information until like, the week before classes start so I guess what all of that means is, no one ACTUALLY knows what tuition at Davis will be next year and we should all probably prepare ourselves for the worst hahah

 

[August West]

According the the AAVMC fact sheet, 42k was for instate tuition (and out of state tuition) only. I find it hard to believe as well, but I do expect tuition to go up substantially in the next 4 years. When I emailed Davis about it, they didn't say if it'd be closer to 33k or 42k, just that it was just an estimate (as for which one was an estimate, I have no clue haha) and I know Ca public schools have a wonderful habit of not releasing tuition information until like, the week before classes start so I guess what all of that means is, no one ACTUALLY knows what tuition at Davis will be next year and we should all probably prepare ourselves for the worst hahah

A week before classes? How will we finalize our financial aid if that is the case??

 

[Myotis]

A week before classes? How will we finalize our financial aid if that is the case??

That I don't know, as I've never had to use financial aid before. I just know that at my undergrad institution, we get an estimate usually like, a month before the semester starts (less for the spring semester) that says tuition hasn't been finalized yet but this is what's expected. It's confusing. And I've been told by current Davis students that sometimes they don't find out until classes start (someone correct me if I'm wrong on this! just what I've heard)

 

[knr1527]

Does anyone know if it looks bad to get an offer from a school and then re apply to other schools the following year? Cornell was vague when i had an application review with them. She didn't explain anything I could do to strengthen my application before re-applying, she just told me not to turn down my other offer. Does that mean I got one chance there and now I'm blacklisted?

 

[orca2011]

Does anyone know if it looks bad to get an offer from a school and then re apply to other schools the following year? Cornell was vague when i had an application review with them. She didn't explain anything I could do to strengthen my application before re-applying, she just told me not to turn down my other offer. Does that mean I got one chance there and now I'm blacklisted?

I don't know. I just got my review from Tufts by email and I'm in the process of typing up a response to their admissions counselor and after you mentioned that, I'm curious. I'm definitely going to ask what their thoughts on it are to get an opinion from a different school.

 

[Emiloo4]

Does anyone know if it looks bad to get an offer from a school and then re apply to other schools the following year? Cornell was vague when i had an application review with them. She didn't explain anything I could do to strengthen my application before re-applying, she just told me not to turn down my other offer. Does that mean I got one chance there and now I'm blacklisted?

I am by no means trying to put you down here, but maybe she was trying to tell you nicely that you won't get into Cornell the following year either, and that you should take the other spot. Like maybe a "take the hint" kind of thing?
I doubt they backlist bc there could be numerous reasons for someone turning down a school and re-applying. Not sure though.

 

[mooshagen]

I have heard so many stories about this kind of behavior from Cornell... Haha

 

[bayarea15]

English Chick - did you learn anything when you called today?

I'm holding at Case Western, which I will be happy to go to. Just not as happy as UCSF. I'm from the bay area, most my family is here, including my big extended family, and more and more, I want to stay. On top of that, I love the school, and would even if it were in Cleveland too.

My in state is Davis, not sure how to pay back the loans either. Sigh. I won't apply for another few yrs, but I do feel your pain.

Sent from my PC36100 using SDN Mobile

 

[orcagirl]

I didn't have an instate (being from AZ), but we do have contracts which can help. However, when I applied I looked at the cost of tuition and whether or not you can get residency. It really helped as there are schools where tuition debt can be less than $150,000.

 

[thepidog]

So, on the topic of IBR....I'm assuming that the loans that are forgiven become the burden of the taxpayer? The vet that I work does NOT support me going out of state because he thinks that HE will end up paying the loans that I cannot pay back at the end of the IBR period. He thinks that people that go OOS are irresponsible and don't give enough thought to their financial situation. I'm sure that's the case sometimes, but that seems like an awful generalization for young people who want to go into this field and will do anything to do so. Since I'm waitlisted at my IS, I've been giving my OOS acceptance some serious consideration, and most people have been very supportive...except for him. Plus he's been my mentor for the past 5+ years. Ouch. If the IBR stuff has been discussed at length on another thread, I'm sorry...but has anyone else had these thoughts?

 

[thepidog]

And by "he" I mean the taxpayers.

 

[squeegee]

So, on the topic of IBR....I'm assuming that the loans that are forgiven become the burden of the taxpayer? The vet that I work does NOT support me going out of state because he thinks that HE will end up paying the loans that I cannot pay back at the end of the IBR period. He thinks that people that go OOS are irresponsible and don't give enough thought to their financial situation. I'm sure that's the case sometimes, but that seems like an awful generalization for young people who want to go into this field and will do anything to do so. Since I'm waitlisted at my IS, I've been giving my OOS acceptance some serious consideration, and most people have been very supportive...except for him. Plus he's been my mentor for the past 5+ years. Ouch. If the IBR stuff has been discussed at length on another thread, I'm sorry...but has anyone else had these thoughts?

well for some people their IS is even more expensive than some OOS schools, so what does he think of those people? are they "irresponsible" for going IS? and plus, how does he even know you're going to wind up doing IBR anyway? what if you open your own practice and have those debts gone in 10 years? i don't think it's fair of him to make these comments to you regarding your financial situation, especially when it's not like you actually have a choice between IS and OOS right now. it's supposed to be a celebration that you got into school, not a guilt trip! i don't know what the payback deal is with IBR (as in if he's actually right about the balance of the forgiven loans, though it doesn't sound right to me) but really, who knows if he's even going to be around in 25-30 years to deal with it!

IMO taking on a lot of debt is definitely something to think about- for yourself. don't burden yourself with what other people think about your debt too.