Vet school survival

[joseph_waldrup]

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New member, my apologies if this question has been answered. I'm currently in the direction of attending Vet school. Really excited, life long dream. I'm currently 30yrs. Don't know why I waited so long, but I did. Lol. I currently have a wife and a kid. Wondering how did some of you guys survive financially in vet school? Anyone attend vet school with a family perhaps? I'm sure j won't be the 1st. I realize you can't work because of the studying and course load. This will be a big deal for me, and just trying to figure out how would I still be able to maintain at life. Lol. Any suggestions would be great. Thanks!!

 

[WhtsThFrequency]

Unless your spouse can support your family? Loans like the rest of us.

 

[joseph_waldrup]

Unless your spouse can support your family? Loans like the rest of us.

I guess that probably makes the most sense. So how does that work, a person would take out enough for that semester/term to cover living expenses as well? Thanks again.

 

[KCgophervet]

I guess that probably makes the most sense. So how does that work, a person would take out enough for that semester/term to cover living expenses as well? Thanks again.

Yep. You're typically awarded an amount that is supposed to cover tuition, fees, and their magically calculated cost of living. You kind of have to figure out for yourself what your actual cost of living will be and if those offered loans will cover it (or if they're offering more than you need, you don't have to take all that they offer).

 

[Lupin21]

Yep. First year I took out the full amount offered, then I was able to judge the rest of the years how much I needed. I had to make sure that I didn't leave myself in a lurch because that is the last stressor you want, the fear of not having enough to pay bills and buy food. You also need to make sure that if a larger expense comes up, that you can cover that. Vehicle break down, animal illness, etc.

 

[Kpowell14]

I agree with what everyone has said so far. I would add that even though you are offered plenty to live on, by taking a couple steps you really can decrease your spending and ultimately decrease the amount of debt you have in the long haul. For example- not getting cable and instead paying 8$ a month for Netflix or Hulu. Carpooling with a classmate. Not buying books until you really know you need it. Don't eat out as often.. Living frugally during vet school is a decision you will not regret.

 

[dvmhopeful2018]

Our estimated cost of living is really high compared to what it actually cost people (like rent being $1000/month, electric $200, monthly clothes allowance $200, etc) so the majority of people don't have to take out the full amount. Most people with families/spouses, the spouse also works. Calculate YOUR actual living expenses and add on some for emergencies, unless you already have a fully funded emergency fund.

 

[KCgophervet]

Our estimated cost of living is really high compared to what it actually cost people (like rent being $1000/month, electric $200, monthly clothes allowance $200, etc) so the majority of people don't have to take out the full amount.

Just keep in mind that your mileage may vary. Some schools are really on spot with their estimates of cost of living and some are more loose with it. I have classmates who have to take the full amount and still work part time to get by - they have things like car payments and mortgages that I personally don't have to worry about. That being said, I take out basically enough to cover tuition and rent and work part time to cover things like eating. I could take out more and not have to be so frugal, but I'm hoping my future self will thank me for it later.

 

[dvmhopeful2018]

Just keep in mind that your mileage may vary. Some schools are really on spot with their estimates of cost of living and some are more loose with it. I have classmates who have to take the full amount and still work part time to get by - they have things like car payments and mortgages that I personally don't have to worry about. That being said, I take out basically enough to cover tuition and rent and work part time to cover things like eating. I could take out more and not have to be so frugal, but I'm hoping my future self will thank me for it later.

Definitely true about mileage. They allowed $200/month for us, and even with my F150 (probably one of the least full economic in my class) I've never used that much. It helps that even though we commute to the DVTC, everything else is close. Most people live within 10 minutes of school.

The most important thing is making sure you figure out your own COL, since everyone is different and is willing to sacrifice or not on different things.

 

[racccjlm]

In state tuition cannot be emphasized enough. I know multiple people that applied out of state, got in, and then turned down the position (without a back up). They then moved to that state, and applied again the next year. Every single one of them is thrilled with that life choice - and relay how they can't believe how close they were to saddling themselves with mountains and mountains of debt. All of them got in the following year as in state (which was certainly not a guarantee).

I'm not relaying the above story to suggest that this is what you should do - just to illustrate a point that if you can do in state, you should. You'll still be in debt. But it will be considerably less.

 

[lailanni]

Yup. Loans, and not an amount to be taken lightly. Not to sound ominous, but before you delve too far down the vet med path take some time to calculate the amount of loans you'll be taking out. Since you have a family you may want to ponder how that debt will affect you/them down the road. Maybe your spouse has a job and can help with expenses. Maybe not and your loans will reflect a cost of living for yourself and your whole family. Maybe you have savings built up and tuition isn't so terrible. Maybe not and you find yourself with a debt number correlating to a new house.

Just give it some thought because I have many colleagues who are delaying buying a home/car/having children due to loans.

 

[Coquette22]

This might be helpful. The Vin Foundation student loan simulater.
http://www.vinfoundation.org/AppUti...357&objecttypeid=10&redirectFromMiscDefault=1

 

[joseph_waldrup]

Thanks everyone for the great advice thus far. This was one of the things I was terrified of and really made me delay even trying at school. I thought loans were only for school alone, but now I see some use it for bills, mortgage, rent, living expenses, etc. makes me feel a lot better! Thanks again!