Student Debt

Applications for CDC’s Epidemiology Elective Program are open through April 21, 2026. Click here to learn more and apply!
This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
N

norky

OVC, Class of 2010
10+ Year Member
15+ Year Member
Joined
Mar 6, 2007
Messages
25
Reaction score
0
Points
0
Location
Ontario Veterinary College
  1. Veterinary Student
Advertisement - Members don't see this ad
I had a freak-out moment yesterday, when I realized that I am only in my second year of veterinary college and already owe $65,000. Is anybody else worried about the amount of student debt that they are accumulating?🙁
 
norky said:
I had a freak-out moment yesterday, when I realized that I am only in my second year of veterinary college and already owe $65,000. Is anybody else worried about the amount of student debt that they are accumulating?🙁
Click to expand...

hell yes!! i will be in 300k SGD debt when i am finished with vet school...
 
i have freak out moments everyday 🙂 i came into vet school with close to $65,000 in debt just from undergrad and grad school.... and this year alone I am borrowing $50,000 for my first year of vet school... so when all is said and done I am easily looking at $270,000 before interest.... 😱

just remember... "its a mortgage on your life...."

yeah, whatever 🙂
 
soxbox said:
just remember... "its a mortgage on your life...."
Click to expand...

Hey, at least the bubble on your education can't bust like the housing bubble is doing. I mean, I don't think it can... 😀
 
If I'm recalling correctly (and roughly, very roughly) - from a recent presentation given to us at school... I think payments on a $200k educational loan was going to be about $1,300/month after I'm out. It's pretty much a monthly mortgage payment on a nice home. Or, in this case, on my brain...

You are investing in yourself 😀
 
🙁 That sucks. That makes me nervous because I'll have over 8 years of out of state :O.
 
how much is the salary for fresh grad in Orange county, California? 😎
 
theunraveler said:
how much is the salary for fresh grad in Orange county, California? 😎
Click to expand...

Base 65-80K +/- 20-22% production was pretty typical offer for my class (Western U 2007)
 
Advertisement - Members don't see this ad
theunraveler said:
how much for living expenses per month? wats the tax like for PR like me?
Click to expand...

In orange county rent alone will cost you round $2000 per month for a small apartment
 
I owe 11K from undergrad, nothing from grad school, and will owe about 90K from vet school, so a cool 100K. Not too awful bad. However, this is precisely why I didn't even bother applying anywhere out of state and why I didn't go to some place god awful expensive for undergrad either. I would have LOVED to go to Colorado State over Mizzou, but I would have had to do the military thing and my husband just didn't want me to do that and he didn't want to leave his job. I can stand it another 3.5 years here to save an extra 100K...just *please* make it go by faster! 😀
 
i've got fren working in california and staying near this place called Fountain Valley in the OC. based on what he said , OC sounds like heaven on earth, i would like to go there and work and see for myself... 😀
 
theunraveler said:
i've got fren working in california and staying near this place called Fountain Valley in the OC. based on what he said , OC sounds like heaven on earth, i would like to go there and work and see for myself... 😀
Click to expand...

Well after living in the Fountain Valley/Huntington Beach area for several years I can say if you love bumper to bumper traffic 20 out 24 hours aday, strip mall after strip mall and no trees other than the occasional palm. It's great.

Unless you can afford a multimillion dollar home in Laguna Beach, housing sucks.

Hey but the weather's great and you can get Del Taco 24 hours a day
 
This is one of the reasons I joined the Army. I'm in-state, and was only taking loans out for tuition and I was STILL looking at about $100,000. Got my HPSP notification this October, so now I only have to pay back first year. Tuition has gone up tremendously in the last few years, but salaries have not kept up. I don't know how the out of staters do it sometimes. One of my classes is a career development/practice management deal, and we have to formulate a budget for our first year out. I've talked to quite a few students who are anticipating over 250k.
Where did universities get the idea to charge medical professionals (especially veterinarians that don't make THAT much money in the scheme of things) out the nose? Any ideas as to why tuition has skyrocketed? I hear a lot of "I got through it, so will you" from vets that paid less than 1/3 the tuition we will.
I'm not going to get on the "we want you" recruiting soapbox, but I will say being in the army is something I'm definitely excited about! If you have questions about the program, I am happy to answer them (or figure out who can).
 
I have already sold my soul and my first child, out of state blows.
 
Advertisement - Members don't see this ad
I have around a $190-200k debt load, and am currently paying towards it...so far, so good - just one more loan bill to add on within the next month and let's see if I can survive!

(This is my 2nd year *after* vet school, and I paid hardly anything at all towards my loans last year due to being an intern and making $30k).
 
I mean, is vet school debt really that bad? I don't know about you guys but I'm earing negative five dollars every hour of every day of every year until 2011. Sigh...

*money does not buy happiness*
*money does not buy happiness*

must. keep. repeating. to. self...
 
birdvet2006 said:
I have around a $190-200k debt load, and am currently paying towards it...so far, so good - just one more loan bill to add on within the next month and let's see if I can survive!

(This is my 2nd year *after* vet school, and I paid hardly anything at all towards my loans last year due to being an intern and making $30k).
Click to expand...

This is my biggest fear. I will be graduating with a very similar debt load, and I can't imagine how I will afford food and shelter if I end up doing an internship for 25-30K/yr!!

::crosses fingers and hopes boyfriend becomes a millionaire...:: :laugh:
 
alonepear said:
This is my biggest fear. I will be graduating with a very similar debt load, and I can't imagine how I will afford food and shelter if I end up doing an internship for 25-30K/yr!!

::crosses fingers and hopes boyfriend becomes a millionaire...:: :laugh:
Click to expand...

If you are doing an academic internship/residency you can defer your payments until you enter the "real" (as in payroll) world. If that were not the case it would be just like paying tuition like 4th years
 
MonkeyJunction said:
If you are doing an academic internship/residency you can defer your payments until you enter the "real" (as in payroll) world. If that were not the case it would be just like paying tuition like 4th years
Click to expand...

It is a little more complicated than that now. You can certainly do forberance but deferment is not available unless you qualify under the "economic hardship" deferment and they are trying to get rid of the debt to income ratio of qualification now currently. This is a HUGE issue currently. For more information see:
http://forums.studentdoctor.net/showthread.php?t=449421

If you are obtaining another degree (MS or PhD) you can do education defer (type of in school). Otherwise you cannot get intern/resident deferment unless you took you loans prior to 1993.
 
I think a good general rule of thumb is, dont get into much more debt than your salary is going to be. Thus if you are in Med School you can expect you salary to be in the range of 150,000-400,000, could be more or less than that, but thats a good range. Thus I would not get into more debt than that and the ones that do will have a tough road ahead. Same if you are going to Dental School. However if you are going to Vet School, most Vets will make around 80k, and thats being generous right now. There are lots more vets only making 50-60k. Thus I would not get into much more than 80k in the hole, with 100k being that absolute maximum. These people on here that are saying they are 250-300k in the hole, I think you honestly should have chosen a different profession if you could not afford it. I know you are very passionate about animal medicine and you think that "money doesnt matter" now, but with the economy the way it is right now, you are going to be struggling just to survive. The last generation had a lot more sense than this one about what they could and couldnt afford. If someone couldnt afford college back then, they simply didnt go and put themselves through the financial burden, and they are better off now as a result (of course back then you didnt really need a college degree to obtain a secure job). This generation is all about getting what they want no matter what the cost (as can be seen with all the debt people are getting themselves into from credit cards, going onto school using ALL loans because they just cant afford it otherwise, mortgages they cant afford because they bought too big of a house, trying to keep up with the jonses, etc.) The middle class is hurting right now, and a big reason is because people are trying to have their cake and eat it to. They are not living within their means. You may "love" your job, but at the end of the day its only going to be another job, and if you ever plan on having a family or buying a house or even a car, you can forget about it. I hope that you are enjoying your job because that is all you will be doing is working and then biking 10 miles to your apartment that has no heat or electricity because you cant afford the bills (no joke) cuddling up in 5 blankets and just waiting until morning so you can actually get to your job you love so much and get warmed up again. You could file for bankrupcy and get that gorilla off your back, but now you will never be able to buy a car or house-ever. Im not saying that someone cant be happy living like that, but the majority of people change their views throughout time and eventually most of these people are going to want a family, house, car etc and are going to question whether they made the right decision.
 
uppi said:
I think a good general rule of thumb is, dont get into much more debt than your salary is going to be. Thus if you are in Med School you can expect you salary to be in the range of 150,000-400,000, could be more or less than that, but thats a good range. Thus I would not get into more debt than that and the ones that do will have a tough road ahead. Same if you are going to Dental School. However if you are going to Vet School, most Vets will make around 80k, and thats being generous right now. There are lots more vets only making 50-60k. Thus I would not get into much more than 80k in the hole, with 100k being that absolute maximum. These people on here that are saying they are 250-300k in the hole, I think you honestly should have chosen a different profession if you could not afford it. I know you are very passionate about animal medicine and you think that "money doesnt matter" now, but with the economy the way it is right now, you are going to be struggling just to survive. The last generation had a lot more sense than this one about what they could and couldnt afford. If someone couldnt afford college back then, they simply didnt go and put themselves through the financial burden, and they are better off now as a result (of course back then you didnt really need a college degree to obtain a secure job). This generation is all about getting what they want no matter what the cost (as can be seen with all the debt people are getting themselves into from credit cards, going onto school using ALL loans because they just cant afford it otherwise, mortgages they cant afford because they bought too big of a house, trying to keep up with the jonses, etc.) The middle class is hurting right now, and a big reason is because people are trying to have their cake and eat it to. They are not living within their means. You may "love" your job, but at the end of the day its only going to be another job, and if you ever plan on having a family or buying a house or even a car, you can forget about it. I hope that you are enjoying your job because that is all you will be doing is working and then biking 10 miles to your apartment that has no heat or electricity because you cant afford the bills (no joke) cuddling up in 5 blankets and just waiting until morning so you can actually get to your job you love so much and get warmed up again. You could file for bankrupcy and get that gorilla off your back, but now you will never be able to buy a car or house-ever. Im not saying that someone cant be happy living like that, but the majority of people change their views throughout time and eventually most of these people are going to want a family, house, car etc and are going to question whether they made the right decision.
Click to expand...

Interesting point. I am currently a vet student, and any amount of debt is better to me then the time i spent working in factory. Is your debt cap based on experience, or do you have an stats that show why you think 200k is too much? I think working towards a career is noble and not so much a sense of entitlement. Perhaps, though some people seek a out a career for superficial reasons.
 
If you can find a veterinary school that charges $80k for 4 years, by all means, let me know. Even for in-state that's a LOW priced school. This has nothing to do with generation. The student debt to salary ratio was MUCH better for docs that graduated in the 70's and 80's. In the last few years, tuition has increased exponentially (at least it seems like it) and salaries are not catching up. That is not something we have any control over. Most out of state students at a veterinary school are going to end up with at least $200k in debt unless they have a trust fund or something. But those slots need to be filled. Veterinarians are in high demand. I can't imagine ever letting student loans keep me from doing what I've wanted to do my entire life. There are recent grads with this much debt that are doing pretty well for themselves. I think Universities really need to reevaluate their tuition scales, because I can tell you right now students are getting screwed. Maybe the government should worry less about loan repayment programs that they can't seem to fund, and more about subsidizing schools.
 
Following the maximum debt of 60-80K idea.....

NO ONE will go to vet school. It would be financially impossible.🙄 Well guys, look like we shoulda joined the medical school parade.

Even in-state tuition, at my school, runs $30-35,000 for 4 years, add cheap to moderate living expenses at 900-1000/mo for 4 years is ~43-48,000. so 73-83K. Then trhow in health insurance, care insurance, textbook costs....its impossible.

And forget about any out-of staters. If you didn't live in one of the 26 states (there are only 28 vet schools nationwide) that has a veterinary school, tough luck! Thats half the country.

That's an absurd idea, and I have no idea where you got it...there are TONS of people out there who broke that rule in every profession, whether they accrued that debt in undergraduate or graduate studies. Every single person who has graduated from an out of state veterinary school in the past few decades, even in the past few years, had shot down your theory, because it looks to me like they are doing pretty well.

Besides, there are a large number of vets make well over 100K a year, not working in private practive.

I hope that you are enjoying your job because that is all you will be doing is working and then biking 10 miles to your apartment that has no heat or electricity because you cant afford the bills (no joke) cuddling up in 5 blankets and just waiting until morning so you can actually get to your job you love so much and get warmed up again. You could file for bankrupcy and get that gorilla off your back, but now you will never be able to buy a car or house-ever.

Do you see vets today doing that? I don't. For goodness sakes. Go back under your bridge, or back to the pre-allo forums, or wherever you came from....it's just insulting to hear you pontificate like this about how you see our future lives.
 
WhtsThFrequency said:
Even in-state tuition, at my school, runs $30-35,000 for 4 years, add cheap to moderate living expenses at 900-1000/mo for 4 years is ~43-48,000. so 73-83K. Then trhow in health insurance, care insurance, textbook costs....its impossible.
Click to expand...

Your school is only 35,000 for 4 years 😱 DANG! I'm at 9,500 a semester right now, and I'll be charged for 9 semesters b/c we go through one of our summers! Michigan's economy sucks monkey butt right now, so tuition is skyrocketing here. :scared:
 
Advertisement - Members don't see this ad
That's an absurd idea, and I have no idea where you got it...there are TONS of people out there who broke that rule in every profession, whether they accrued that debt in undergraduate or graduate studies. Every single person who has graduated from an out of state veterinary school in the past few decades, even in the past few years, had shot down your theory, because it looks to me like they are doing pretty well.
Click to expand...

Of course they are doing well, the ones who graduated in the past few decades, as a previous poster mentioned, did not have the debt load that is required now, and as for the ones that graduated a few years ago, they have not been out yet long enough for that 250-300k gorilla to really hit them hard. Maybe they are deffering loan payments right now, or paying a lower monthly rate right now. But with interest on a loan that high, eventually it WILL catch up to them, and they will have nowhere to run. It is simple economics that someone making 80k per year or roughly 5,000-6,000 per month depending on taxes will be able to pay off a 300k loan in their lifetime, unless they literally live as I stated before. Now what if you want a family- are you really going to make your kids live like that? With that debt load you have, how will you ever help them out with there college? How will you be able to have ANY savings? What if something goes wrong and you have an emergency and you need money?


I am not knocking these people, I admire them for having the courage to take a risk like that. Its too bad they did not go into business or become an entreprenuer, they would probably be retiring in a private suburb in San Diego. All I am saying is they think that its all worth it right now because they will LOVE what they are doing. But what about 10 years from now? 20 years from now? Will they still feel the same way after they see how it affects their family? Even if they dont have a family, will they look back and say I like this job but was it worth sacrificing the "American Dream" (A house, a family, 2-3 cars, being able to put dinner on the table for your family, and sending your kids to college?) Some will still say its worth it, but I bet most of them will not.

Also, in response to the 60-80k debt limit, I said 100,000 should be the maximum, which would not be THAT hard depending on certain factors. If you had a spouse or significant other that worked, they could pay for your living expenses or most of them hopefully and then all you would have to pay for is tuition. if you dont have that luxury, then you can work your ASS off during winter and summer breaks to make ends meet, maybe in a temporary or casual job in whatever you graduated in undergrad with (hopefully it was something useful). Bottom line is if you HAVE to go to a school that is charging 50k tuition per year like a med school, you should not be going to that school unless you have the money to do so. If that means you dont get into vet school because you cant afford it, well then thats life I guess, there are lots of people out there who cant do things because they cant afford it, that is life. I blame it a lot on society who makes everyone feel like they HAVE to have this or that and making it so easy now to just borrow money. Its not wonder credit card companies are doing so well now. I agree that Vet tuition now a days is rediculous and unfair, and hopefully the next president can get the economy back on track.
 
uppi said:
Of course they are doing well, the ones who graduated in the past few decades, as a previous poster mentioned, did not have the debt load that is required now, and as for the ones that graduated a few years ago, they have not been out yet long enough for that 250-300k gorilla to really hit them hard. Maybe they are deffering loan payments right now, or paying a lower monthly rate right now. But with interest on a loan that high, eventually it WILL catch up to them, and they will have nowhere to run. It is simple economics that someone making 80k per year or roughly 5,000-6,000 per month depending on taxes will be able to pay off a 300k loan in their lifetime, unless they literally live as I stated before. Now what if you want a family- are you really going to make your kids live like that? With that debt load you have, how will you ever help them out with there college? How will you be able to have ANY savings? What if something goes wrong and you have an emergency and you need money?


I am not knocking these people, I admire them for having the courage to take a risk like that. Its too bad they did not go into business or become an entreprenuer, they would probably be retiring in a private suburb in San Diego. All I am saying is they think that its all worth it right now because they will LOVE what they are doing. But what about 10 years from now? 20 years from now? Will they still feel the same way after they see how it affects their family? Even if they dont have a family, will they look back and say I like this job but was it worth sacrificing the "American Dream" (A house, a family, 2-3 cars, being able to put dinner on the table for your family, and sending your kids to college?) Some will still say its worth it, but I bet most of them will not.

Also, in response to the 60-80k debt limit, I said 100,000 should be the maximum, which would not be THAT hard depending on certain factors. If you had a spouse or significant other that worked, they could pay for your living expenses or most of them hopefully and then all you would have to pay for is tuition. if you dont have that luxury, then you can work your ASS off during winter and summer breaks to make ends meet, maybe in a temporary or casual job in whatever you graduated in undergrad with (hopefully it was something useful). Bottom line is if you HAVE to go to a school that is charging 50k tuition per year like a med school, you should not be going to that school unless you have the money to do so. If that means you dont get into vet school because you cant afford it, well then thats life I guess, there are lots of people out there who cant do things because they cant afford it, that is life. I blame it a lot on society who makes everyone feel like they HAVE to have this or that and making it so easy now to just borrow money. Its not wonder credit card companies are doing so well now. I agree that Vet tuition now a days is rediculous and unfair, and hopefully the next president can get the economy back on track.
Click to expand...


Also remember that although you only make 60-80k average, many people in vet schools will eventually have a significant other that may help with the income situation. I think it's very possible, and that there are many people who can and will do it. Also remember that starting salaries rise over time, too. Most numbers I saw while doing research were based on the first year after graduation.
 
uppi said:
Bottom line is if you HAVE to go to a school that is charging 50k tuition per year like a med school, you should not be going to that school unless you have the money to do so. If that means you dont get into vet school because you cant afford it, well then thats life I guess,
Click to expand...

I understand what you are saying, but I will NOT let money keep me from being a veterinarian. To me, THAT is absurd.

With that said, I am an out of state student, taking 40 K a year (just for tuition) with a husband to pay all the bills. We have lived on less then 20 k a year for our married lives (usually 15 k... both full time students). When I graduate, I expect to continue our way of living for 5 more years (thus paying half of my income to loans). After 5 years, most will be paid off and we can start to live like adults. Sounds do-able to me. If anyone has any insight, please let me know 🙂
 
Of course they are doing well, the ones who graduated in the past few decades, as a previous poster mentioned, did not have the debt load that is required now

But they also made lower salaries. It's called inflation, of everything from tuition to expenses to salaries. It is all proportional.

Seriously.....is your only point on this thread to tell us to not to to veterinary school?

Pretty much everything you say applies to a large number of medical students too. Should *they* not go to school either for risk of incurring a loan 2 or 3x their starting salary? Because most do anyway.

If doctors and vets with high debt (which is most) live like you say....why don't we see it? Like I said, I have never seen a vet, no matter what their debt or when they graduated, live in a crudhole with no heat or water and have to bike to work. Do you need to be careful with your finances? Of course. But you're far from dead meat. You are also ignoring the fact that someon eelse mentioned - salaries go UP. 60 k is the *starting* salary for a vet. You can't base your debt calculations solely on that number. After I do my residency and get a few years experience in my specific field/specialty, I will be making ~200K. So I think that justifies my current expenses plus a few years of crap pay in residency.
 
Your school is only 35,000 for 4 years DANG! I'm at 9,500 a semester right now, and I'll be charged for 9 semesters b/c we go through one of our summers! Michigan's economy sucks monkey butt right now, so tuition is skyrocketing here

Yes, we are on the lucky side of things. They even make 4the year tuition cheaper for us by about a grans so we can deal with any moving or living expenses depending on where we do our clerkship rotations (i.e. if we go OOS for 4 weeks or whatever). I feel for you, 9,500 is a hell of a lot! Which year do you go through the summer, 4th? For us, 4th years starts ummediately after 3rd year (no summer) and goes continously for 12 months with only 2 weeks vacation.
 
It's interesting to note that "uppi" is the same individual who advocated the use of Adderall for weekend studying over on the allo board. (and spelled the name of the drug incorrectly.) I'll take your financial advice with a grain of salt.
 
We start clinics in the second semester of year 3, and go straight on through year 4. We get 3, 3 week breaks in 1.5 years.....that's it. We have to work them into clinical rotations, which are 3 weeks each.

I'm hoping to do a couple rotations out of state, preferably at the Armed Forces Institute of Pathology. I'm sure I'll have plenty of extra living expenses, etc but Granholm (the governor responsible for the high tuition at MSU) doesn't give a crap about that stuff.

BTW, something that really pisses me off - they just approved a pay raise for our university president. She will be in the top 5 paid prezs in the nation, just after a 9% tuition hike. Michigan State is NOWHERE NEAR a top 5 school, AND she's a HORRIBLE prez!!!!!!!!!!!!!!!! Sorry...had to rant.
 
I understand what you are saying, but I will NOT let money keep me from being a veterinarian. To me, THAT is absurd.
Click to expand...

Fair enough, I admire your courage and passion, and you probably will make it work. With your set up you will probably be about 120k debt, which is doable as long as your husband is willing to live like a poor college student for another 5 years, which I am sure he has no problem with. And your plan sounds good. I was aiming more towards students that are borrowing in the range of 250-300k.

However, though you have a good plan, do you have a backup or any "emergency" savings stashes away in case something comes up. For example lets say your a year out of school and things are going good until oops you get pregnant. You might not have even been trying but it just happens. Then your car breaks down, engine ceases and you need a new car. Things can happen, and go bad, really fast that will completely change your "plan" that you have. It's life.

A perfect example of what im trying to say, can be shown using this article I found a while back on the Allopathic forums. Some of you may have already read the article, it involves two MD's that are married and in their residency, and having a hard time now that their plan has changed. It is one example of what can happen when a student takes out more loans then they should be (whether its for Vet School, Med School, Dental School, etc.)

http://money.cnn.com/2007/11/16/pf/young_doctors.moneymag/index.htm?postversion=2007111611
 
It's called inflation, of everything from tuition to expenses to salaries. It is all proportional.
Your delusional if you think that the increase in tuition expenses to salary increases is proportional!!! Should of done your homework before taking on a huge debtload
Click to expand...
Click to expand...
 
"Your [sic] delusional if you think that the increase in tuition expenses to salary increases is proportional!!! Should of [sic] done your homework before taking on a huge debtload"

Might want to work on the grammar before you go into med school.

Ok, guess I'd better go take some Adderall before doing that suggested homework.😀

So uppi, why on earth are you pre-health since you just seem to be trashing it financially? Everyone in med school/vet school ends up at least 100 K in debt. Are you going to be peddling "study aids" on the side?

Bottom line: If it wasn't doable, there would be no doctors and no vets. Period. There are, and they do fine. As long as you don't spend excessively and are smart with your money, it will happen.
 
Advertisement - Members don't see this ad
uppi said:
However, though you have a good plan, do you have a backup or any "emergency" savings stashes away in case something comes up.
Click to expand...

Of course. Even if you are 'poor' there is (almost) no reason to not have emergency money. Plus, there is always mom and dad 😉

Just a reminder to everyone else... we need to make sure that we are 'polite' and appropriate on this forum. There is no need for sarcastic remarks and put downs. We all have different opinions and reasons why we have them, so let's play nice.

Just for fun I calculated my loan 'per day' I'm in school and I'm paying... drum roll... $250. Looks like I won't be missing any days... I can't afford to! 😱
 
we need to make sure that we are 'polite' and appropriate on this forum. There is no need for sarcastic remarks and put downs. We all have different opinions and reasons why we have them, so let's play nice.

Sowwee *gives uppi a cookie even though he thinks she is 'delusional' * 😍 I'll be nice, I promise.
 
uppi said:
Fair enough, I admire your courage and passion, and you probably will make it work. With your set up you will probably be about 120k debt, which is doable as long as your husband is willing to live like a poor college student for another 5 years, which I am sure he has no problem with. And your plan sounds good. I was aiming more towards students that are borrowing in the range of 250-300k.

However, though you have a good plan, do you have a backup or any "emergency" savings stashes away in case something comes up. For example lets say your a year out of school and things are going good until oops you get pregnant. You might not have even been trying but it just happens. Then your car breaks down, engine ceases and you need a new car. Things can happen, and go bad, really fast that will completely change your "plan" that you have. It's life.

A perfect example of what im trying to say, can be shown using this article I found a while back on the Allopathic forums. Some of you may have already read the article, it involves two MD's that are married and in their residency, and having a hard time now that their plan has changed. It is one example of what can happen when a student takes out more loans then they should be (whether its for Vet School, Med School, Dental School, etc.)

http://money.cnn.com/2007/11/16/pf/young_doctors.moneymag/index.htm?postversion=2007111611
Click to expand...

I really can't tell what your point is here. Most students going into professional programs are smart enough to understand the amount of debt they will be in and what that means for their futures. Yes, school prices have gone up more than salaries, but it is still definitely doable. Also, the comparison to credit cards is a bit far fetched. The reason companies are so willing to loan professional students money is because they know they will be able to get that money back as professionals will be in a position and command a salary to pay it back. Most problems with credit cards/mortgages these days is that people don't understand the debt load they will be getting into and they won't have the means to pay it back. Yes, 50-60000 is the starting salary for veterinarians, but that salary will increase with time. Though taking out a lot in loans is daunting, I certainly don't see veterinarians living the life that you are painting. I agree that one should be responsible in taking out money for school and serious consideration should be put into not getting into debt in undergrad etc., but you are being a bit pessimistic on what that means for their future.
 
Spartanvet4cows said:
BTW, something that really pisses me off - they just approved a pay raise for our university president. She will be in the top 5 paid prezs in the nation, just after a 9% tuition hike. Michigan State is NOWHERE NEAR a top 5 school, AND she's a HORRIBLE prez!!!!!!!!!!!!!!!! Sorry...had to rant.
Click to expand...

Maybe your next president will be better. We just got a fantastic new president, who was actually the #2 top paid university president and he took a pay cut to return to The Ohio State University. President Gordon Gee is absolutely AMAZING and I'm sure he will do wonderful things for our university.

The President that just left however, after a nice severance pay package went to an interview and in Florida and talked about how all OSU students were interested in was "drunken orgies" and rioting.
 
sofficat said:
Just for fun I calculated my loan 'per day' I'm in school and I'm paying... drum roll... $250. Looks like I won't be missing any days... I can't afford to! 😱
Click to expand...

OMG -- that is terrible. Sigh...
 
I know birdvet went overseas for vet school and is in significant debt. Maybe she'll chime in here and let us know what its like to be a practicing vet and have the loan payments hanging over your head. We can all speculate, but there is nothing like first hand experience.
 
frozen_canadian said:
I know birdvet went overseas for vet school and is in significant debt. Maybe she'll chime in here and let us know what its like to be a practicing vet and have the loan payments hanging over your head. We can all speculate, but there is nothing like first hand experience.
Click to expand...

well I am in significant debt (read $250K) and am in residency (read really craptastic salary).................................................................🙁
 
chris03333 said:
well I am in significant debt (read $250K) and am in residency (read really craptastic salary).................................................................🙁
Click to expand...

just out of curiosity, what are you doing your residency in?
 
WhtsThFrequency said:
And forget about any out-of staters. If you didn't live in one of the 26 states (there are only 28 vet schools nationwide) that has a veterinary school, tough luck! Thats half the country.
Click to expand...

Don't forget about those of us who are lucky enough to live in a state where IN-STATE tuition is $32K/year. Oh, the joys of the Ivy League. Although it's nice to know that money would be a factor either way, so I won't feel guilty choosing an OOS school! 😉
 
Advertisement - Members don't see this ad
You must log in or register to reply here.

Similar threads

EB73674
Paying off high debt without IBR
Replies
23
Views
5K
vetschoolhopeful101
vetschoolhopeful101
Megan Upton
Current Vet Student Testimonies
Replies
0
Views
2K
Megan Upton
Megan Upton
F
Ross Vet School—Worth the debt?
Replies
4
Views
5K
battie
battie
A
Vet student career opportunities
Replies
3
Views
2K
cdo96
cdo96
F
9k credit card debt (paying with student loan?)
Replies
2
Views
2K
JaynaAli
JaynaAli
Top Bottom