Wow! That’s a lot of money. Veterinarians must have very high salaries to pay back those loans.
The average new graduate veterinarian in full-time positions earned between $94,000 and $134,000 in 2023.
Veterinary graduates should expect to be repaying their student loans over a 10 to 25-year period depending on their repayment plan, income, and family situation. Borrowing from private lenders is not advised for those needing to finance the majority of their veterinary education costs.
Although the options and rules can seem complex, federal student loans offer income-driven repayment (IDR) and Public Service Loan Forgiveness (PSLF) options enabling veterinary graduates to live a reasonable lifestyle while meeting their repayment obligations.
These programs are evolving and do not apply to private loans. Information about IDR options and PSLF can be found at studentaid.ed.gov and the VIN Foundation Student Debt Center.
