VMLRP

[cheathac]

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Has anyone heard of this USDA program? Is it competitive or just is just based on eligibility? I've been looking into it some.

 

[Country_roads]

As far as I know, it's quite competitive. I'm willing to bet a majority of LA kids will try to get a spot. I know that I will be

 

[cheathac]

I see... I just don't want to be in debt my whole life. I want to have a family and raise kids. Is there any other way? I know I am to be a veterinarian.. I love it... but I will love my husband too and want kids.

 

[Country_roads]

Only you can decide if its worth the risk. Do not put all your eggs in to the VMLRP basket.

A couple tips:

Go to your In-State school. If I didn't get in to my in-state or a place where I could establish residency, I wasn't going to go

Work as much as you are able without compromising your grades

Don't take out private loans, and take out the smallest amount of loans possible through the gov't

Add on I just thought of: make yourself different from the thousands of other vets out there. Pursue an area that isn't popular. Or if you go the GP route, have something unique that gets you the job/brings in the customers. Supply and demand is relevant in pretty much every facet of life

 

[cheathac]

Thank you! Going to my in state school is definitely number one. What is the GP route. I was thinking of also working for the government? Isn't there a loan forgiveness plan?

 

[Country_roads]

Thank you! Going to my in state school is definitely number one. What is the GP route. I was thinking of also working for the government? Isn't there a loan forgiveness plan?

GP is general practitioner, just being a basic vet. There's a loan forgiveness plan if you are a "public servant", I think working for the government counts. You have to make payments on your loans for 10 years.

There's also IRB repayment, where you pay for 25 years (I think?) and then the rest is forgiven but you have to pay a lump sum of taxes on what is forgiven

 

[cheathac]

Alright, I'll weigh in those options. My dream is to live in Palm Coast Florida to do SA, maybe some exotics, and horses if it's available. I love cattle and LA too... but florida is my dream.

 

[epivetlove]

It should also be noted that there is a proposed cap on PSLF (the one that forgives loans after 10 years with no tax hit, if you work for a nonprofit, government, similar) beginning July 1, 2015. If it sticks, it will affect those who are taking out loans for a course of study (this is still a little unclear to me) after the July 1st date. So, it may not be something to totally rely on, unfortunately.

"According to a U.S. Department of Education spokesperson, current borrowers will not be subject to the proposed $57,500 cap on Public Service Loan Forgiveness. This cap will only apply to new borrowers after July 1, 2015 (if legislation mirrors the proposal). Current borrowers will only be subject to the $57,500 cap if they affirmatively opt into the new PAYE program. Borrowers repaying or applying for PAYE right now will not be subject to the cap."

 

[pirateyoho]

It should also be noted that there is a proposed cap on PSLF (the one that forgives loans after 10 years with no tax hit, if you work for a nonprofit, government, similar) beginning July 1, 2015. If it sticks, it will affect those who are taking out loans for a course of study (this is still a little unclear to me) after the July 1st date. So, it may not be something to totally rely on, unfortunately.

"According to a U.S. Department of Education spokesperson, current borrowers will not be subject to the proposed $57,500 cap on Public Service Loan Forgiveness. This cap will only apply to new borrowers after July 1, 2015 (if legislation mirrors the proposal). Current borrowers will only be subject to the $57,500 cap if they affirmatively opt into the new PAYE program. Borrowers repaying or applying for PAYE right now will not be subject to the cap."

That's still a nice chunk to have forgiven.