What You Need to Know About Paying for Veterinary School

00:03:43
https://www.youtube.com/watch?v=s43eQ_xa51c

Ringkasan

TLDRThe video highlights important considerations for those aspiring to become veterinarians, particularly emphasizing the financial aspects. Many veterinary graduates regret their decision due to financial burdens, with the average debt amounting to $135,000 and starting salaries around $67,000. The speaker advises prospective students to prepare by taking money management classes, researching loans, attending in-state schools, and applying for scholarships. Planning a budget and limiting loan amounts are crucial steps to managing these financial challenges successfully. Despite the financial hardships, with careful planning, pursuing a veterinary career is possible.

Takeaways

  • 💡 52% of vet grads regret attending due to financial stress.
  • 💰 Average debt is $135,000, while starting salary is $67,000.
  • 📚 Money management courses are highly recommended.
  • 🎓 In-state tuition saves tens of thousands compared to out-of-state.
  • 🔍 Researching the loan process is vital for smart borrowing.
  • 📈 AVMA offers tools for creating financial budgets.
  • 💸 Apply for all scholarships, even small ones, to reduce debt.
  • 📝 Only borrow what is necessary to minimize financial burden.
  • 🗓️ Consider taking a year off to save money before vet school.
  • 🎯 Critical planning and budgeting can ease student loan repayment.

Garis waktu

  • 00:00:00 - 00:03:43

    Pursuing a career in veterinary medicine is exciting, but there are financial challenges to consider. Many recent graduates regret their decision due to financial burdens, with over half saying they wouldn't choose the same path again. The average debt for vet school graduates is $135,000, while the average starting salary is $67,000, leaving many concerned about loan repayments. To manage this, it's recommended to take money management courses, become familiar with the loan process, and apply smart financial strategies such as attending in-state schools, taking time off to save money, creating a strict budget, and applying for scholarships. Despite the challenges, if you prepare well and make informed choices, you can achieve your dream of becoming a veterinarian without financial regret.

Peta Pikiran

Video Tanya Jawab

  • What percentage of vet school grads regret attending school due to financial reasons?

    52% of recent vet school graduates expressed regret due to financial reasons.

  • What is the average debt for a veterinary school graduate?

    The average debt for a veterinary school graduate is $135,000.

  • What is the average starting salary for a veterinarian?

    The average starting salary for a veterinarian is $67,000.

  • What can recent grads do to prepare for managing their student loan debt?

    Graduates can take money management classes, research the loan process, choose in-state schools, and apply for scholarships.

  • What tool does the AVMA offer to help with financial planning?

    The AVMA offers a personal financial planning tool to help create a practice budget.

  • Why should you apply for scholarships even if the amounts are small?

    Applying for scholarships, even small ones, reduces the amount you need to borrow and repay.

  • What is one piece of advice for managing student loans effectively?

    Stick to a budget and only borrow what you need.

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Gulir Otomatis:
  • 00:00:00
    so you want to go to that school so do i
  • 00:00:02
    it's super exciting and it's the best
  • 00:00:03
    career there is but I'm going to let you
  • 00:00:05
    in on a little known secret in a survey
  • 00:00:07
    of 100 recent vet school grads 52% 52%
  • 00:00:12
    so that they wouldn't do it again
  • 00:00:14
    because of their financial situation
  • 00:00:15
    afterwards that's more than half of the
  • 00:00:17
    people looking at the amount they owe
  • 00:00:18
    and the amount they make and going nope
  • 00:00:20
    nope no not doing that again
  • 00:00:23
    but I thought this was going to be the
  • 00:00:24
    best career ever you say I wanted to be
  • 00:00:26
    that since I was six you say nothing is
  • 00:00:29
    going to stop me from being a vet not
  • 00:00:30
    even that intimidating SPECT I know me
  • 00:00:33
    too
  • 00:00:33
    I'm still going to be a vet but we need
  • 00:00:35
    to talk about some important things you
  • 00:00:36
    need to know before going to that school
  • 00:00:38
    now it's never fun to talk about money
  • 00:00:40
    but the reality is and let's family to
  • 00:00:42
    Oprah
  • 00:00:43
    you're probably going to have to take
  • 00:00:44
    out student loan to go to vet school and
  • 00:00:45
    this is perfectly okay you just need to
  • 00:00:48
    be prepared for what student loan debt
  • 00:00:50
    will mean for you once you reach your
  • 00:00:51
    goal of becoming a veterinarian most of
  • 00:00:53
    you are aware what student loan debt is
  • 00:00:55
    but do you know just how much it can
  • 00:00:57
    affect your life the average debt for a
  • 00:01:00
    student graduating vet school is 135
  • 00:01:02
    thousand dollars and the average
  • 00:01:04
    starting salary is 67 thousand dollars
  • 00:01:06
    so it's no surprise that 75% of
  • 00:01:09
    veterinarians are concerned about their
  • 00:01:11
    ability to pay back their loans with
  • 00:01:13
    debt payments taking up a big chunk of
  • 00:01:15
    veterinarian salary there can be a lot
  • 00:01:17
    of sacrifices you'll have to make in
  • 00:01:18
    order to pay back your loans now I hope
  • 00:01:21
    I didn't scare you too much with these
  • 00:01:22
    numbers debt in any amount can be scary
  • 00:01:25
    let alone when it reaches over a hundred
  • 00:01:27
    thousand dollars but if you know that
  • 00:01:29
    veterinary medicine is the right career
  • 00:01:31
    for you there are many ways to prepare
  • 00:01:32
    yourself for the debt you'll take on
  • 00:01:34
    pursuing your dream the first thing you
  • 00:01:36
    can do to prepare yourself is to take
  • 00:01:37
    money management classes
  • 00:01:38
    these classes will help you no matter
  • 00:01:40
    what you do in life so it's worth
  • 00:01:41
    putting in the time to take them 34% of
  • 00:01:44
    recent grads say they wish they had next
  • 00:01:47
    research the loan process knowledge is
  • 00:01:50
    power and the more you know about the
  • 00:01:51
    student loan process the fewer mistakes
  • 00:01:53
    you'll make the aavmc has a very helpful
  • 00:01:57
    funding your education section on their
  • 00:01:58
    website
  • 00:01:59
    seriously though go to the site go to
  • 00:02:02
    your in-state school or establish
  • 00:02:04
    residency before starting at your vet
  • 00:02:06
    school the difference in costs between
  • 00:02:08
    in-state and out-of-state tuition is in
  • 00:02:10
    tens of thousands of dollars don't make
  • 00:02:12
    a poor financial decision simply because
  • 00:02:14
    you want to go to your dream school
  • 00:02:16
    speaking of which take time off between
  • 00:02:18
    undergrad and vet school to save money
  • 00:02:20
    practice making and living on a budget
  • 00:02:23
    the AVMA has a great personal financial
  • 00:02:26
    planning tool that you can use to create
  • 00:02:27
    a practice budget creating a realistic
  • 00:02:30
    budget will help you determine how much
  • 00:02:31
    you will need to borrow for loans and
  • 00:02:33
    what you can afford a little about which
  • 00:02:35
    leases to borrow only what you need when
  • 00:02:38
    you figure out how much money you need
  • 00:02:40
    to borrow per semester only take out
  • 00:02:42
    that much the less you borrow the less
  • 00:02:44
    you have to pay back and the most
  • 00:02:46
    important thing stick to your budget it
  • 00:02:48
    might be hard but it'll pay off in the
  • 00:02:50
    long run the last thing you can do is
  • 00:02:52
    apply for scholarships even the ones you
  • 00:02:54
    don't think you'll get applying to
  • 00:02:56
    scholarships is a lot of work even if
  • 00:02:58
    it's just for a thousand dollars that's
  • 00:02:59
    a thousand dollars you don't have to pay
  • 00:03:01
    back and guess what almost 60% of
  • 00:03:04
    veterinary students wish they had
  • 00:03:06
    applied to more scholarships so do it do
  • 00:03:08
    it most of us would do anything to be a
  • 00:03:12
    veterinarian so why not start with doing
  • 00:03:14
    your research and preparing personally
  • 00:03:16
    I'm probably going to take a year off to
  • 00:03:18
    make money and save money and maybe even
  • 00:03:20
    apply for the vet corpse and other
  • 00:03:21
    programs that will fund my education
  • 00:03:22
    you're going to have to make some tough
  • 00:03:24
    choices and sacrifices but if you think
  • 00:03:27
    critically and prepare the best you can
  • 00:03:29
    you'll not only be able to live your
  • 00:03:31
    dream of becoming a veterinarian you'll
  • 00:03:32
    also be able to pay off your student
  • 00:03:34
    loans even if you're not related to
  • 00:03:35
    Oprah
Tags
  • vet school
  • financial debt
  • student loans
  • scholarships
  • budgeting
  • veterinary career
  • money management