UK vet school straight out of high school- debt/decisions

[avalcraw]

Hello! I am a senior in high school applying through UCAS to many of the UK vet schools 5 year bachelor of veterinary medicine and surgery. For context, UK vet schools allow some international high school leavers to go into their 5 year vet schools, and gain a BVMS (equivalent to DVM and all schools I am considering are AVMA. accredited). I have just learned that as a technically undergraduate student, I would only qualify for undergraduate federal loans (capping my fed loans at 30k) Meaning I would take out a significant amount of private loans (up to 300k). I have always been warned of the big bad private loan wolf. I was wondering if anyone had any experience with large private loans and could help guide me. The pros of this program are that I will graduate as a veterinarian in 5 years instead of the normal 8+, and I have a higher chance of admissions. The total COA is around 330k, but considering I wont need any undergrad loans, save 3 years of school, and I have no in state vet school, the cost is competitive. My main concern is the idea of taking out private loans. Did anyone on here go this route? Any advice? (Note: Please don't go into the large rant about making a decision too quickly about my life, moving across the country, etc. I've gone through those aspects heavily with family, veterinarians, and counselors. If it helps put you at ease I will be a CVA by the end of the year and I have been working as a VA/KA for over a year, so I understand the field a little better than the average high school student.)

TLDR; Taking out Private loans (up to 330k) for UK vet school? Disaster or okay decision?

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[dyachei]

Private loans aren't subject to the same protections you have from federal loans. So there likely won't be the ability to put your loans on pause for life events. Your loans won't time out in 25 years (leaving you to pay tax on the lump sum left over). Basically you'll be 330k in debt and paying it off for a VERY long time at current salary rates. Just something to keep in mind.

 

[DVMDream]

I attended the UK vet schools on the 4 year plan and was able to get all federal loans. It is the same degree regardless of 4 vs 5 year plan, so not sure where you're getting info that you can't get federal loans. If that really is true, I'd never take on personal loans of that magnitude over federal loans. It is not worth it. You're also unlikely to find a private loan facility that'll give you that large of loans.

The last thing, US high school is no where near the rigor of UK high school, you will be behind from the start on many basic science concepts.