Becoming a vet…is it worth the student debt?

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Ophelia Murazik asked a question: Becoming a vet…is it worth the student debt?
Asked By: Ophelia Murazik
Date created: Thu, Feb 4, 2021 5:51 PM
Date updated: Fri, Jun 24, 2022 9:57 AM

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Top best answers to the question «Becoming a vet…is it worth the student debt»

The purely financial answer is yes, vet school is worth it — but barely. The projected lifetime earnings of a veterinarian compared to the average college grad is $450,000 after taxes versus the $292,000 in cost of paying back student loans.

FAQ

Those who are looking for an answer to the question «Becoming a vet…is it worth the student debt?» often ask the following questions:

🎓 Is student debt worth it?

While a college degree may lead to higher income, that doesn't mean student loans are always worth it. Borrowing money is a major decision, with many factors to consider. Your college major, job prospects, the cost of your school and the total amount of student loans may impact your family's finances for decades.

🎓 Is student loan debt worth it?

For some, student loan debt just isn’t worth the cost. Big loan debts do the opposite of saving -they inhibit your freedom to do anything but work and make your payments, month after month. My biggest regret about being in so much debt throughout my 20s is the opportunities lost.

🎓 Is your student loan debt 'worth it'?

While a college degree may lead to higher income, that doesn't mean student loans are always worth it. Borrowing money is a major decision, with many factors to consider. Your college major, job prospects, the cost of your school and the total amount of student loans may impact your family's finances for decades.

10 other answers

It is an expensive degree and it will more than likely result in debt but the debt is worth it if you end up loving your years at university and your future career.

I’ve always wanted to become a Veterinarian for my love of animals but discovering that most students are well over 200k in debt it hinders my choice on becoming a vet, since these students will probably be paying off their debt until their almost at retiring age it seems.

Today at work this preceptor was showing me an article from DVM magazine about how debt is rising but the pay of vets is not. So, almost every single graduate will be horribly in debt. So in debt that they will never be able to pay it off. Several of the other doctors at work talked about how they hate the debt and horrible pay they get.

In so many ways being a vet is absolutely worth it. One huge factor that I haven’t discussed in this list, however, is how much vets get paid along with how much student debt they graduate with. This has changed dramatically since I graduated in 2006, and would definitely give me pause for thought if I had to go back in time and make my decision all over again.

For many, the negative impact of the people-factor outweighs the reward of working with animals. Debt. The average veterinarian student loan debt of a veterinary graduate is just over $160,000, for those who have debt at all. This number has been rising by over $6000 per year for the past 15 years.

Not in it for the money. 3 to 4 years of college, then 4 of vet college does cost a bit. Go to veterinary college in state if you can, that saves lots of tuition dollars. However, I became a vet to work with animals, to treat them when ill, and keep them healthy.

Whether it's "worth it" depends in large part on where you live and what it will cost you to go to school. If I was in a position where vet school would put me >$200,000 in debt (like US students, and some others around the world), I would say no. But based on the job itself, I think it's definitely worth the time, effort, and energy I put into it.

BVA support for Veterinary students . First year students at a UK or Ireland veterinary school receive free membership from BVA; Free EMS insurance for BVA members; BVA blog: becoming a vet is it worth the student debt? Interested in veterinary careers? Find out more about becoming a vet; Visit the Association of Veterinary Students website

In the veterinary course, you are expected to spend 90 per cent of your holidays gaining extra experience on farms, in stables, veterinary clinics and elsewhere - and in most cases this will not be...

First of all is the financial reality. Jessica, if you're already in a lot of debt, it wouldn't be a good idea to go straight into veterinary college. The average debt load of a newly graduated vet is quickly pushing $90-100,000, and the average starting salary is around $55,000.

Your Answer

We've handpicked 21 related questions for you, similar to «Becoming a vet…is it worth the student debt?» so you can surely find the answer!

Is college debt worth it?

While a college degree may lead to higher income, that doesn't mean student loans are always worth it. Borrowing money is a major decision, with many factors to consider. Your college major, job prospects, the cost of your school and the total amount of student loans may impact your family's finances for decades.

Is college worth the debt?

Getting a college education is generally worth the financial investment as long as you graduate and are able to pay back college debt. College is often touted as the best vehicle to upward mobility, but it comes with financial risks. Without borrowing student loans, college costs are out of reach for many students.

Is college debt worth it essay?
  • Furthermore, college or university education is worth the debt you will accumulate from it. If you're still weighing your options, consider this, "Lifetime earnings for college graduate are substantially higher than the earnings of someone without a college degree," (Source 4, pg. 13).
Is college worth going into debt?

Getting a college education is generally worth the financial investment as long as you graduate and are able to pay back college debt. College is often touted as the best vehicle to upward mobility, but it comes with financial risks. Without borrowing student loans, college costs are out of reach for many students.

Is law school worth the debt?

What is the average law school debt?

  • Average Law School Debt. Average law school debt, including the cost of an undergraduate education, is $145,500, according to the most recent NCES data. Even with an expected six-figure salary, you may want to try tactics to reduce your law school debt before and after school. Jan 2 2020
Is med school worth the debt?

The short answer to this question is yes. Medical school is worth it. Financially, going to medical school and becoming a doctor can be profitable, especially if you're able to save and invest a considerable amount of your income before retirement.

Is medical school worth the debt?

The short answer to this question is yes. Medical school is worth it. Financially, going to medical school and becoming a doctor can be profitable, especially if you're able to save and invest a considerable amount of your income before retirement.

Is pa school worth the debt?

Physician's Assistants

Since many PA's start out making solid $70,000-$90,000 salaries, they can start repaying their debt while their friends from their undergrad cohort are still in school… In terms of ability to service their educational debt, Physician's Assistants have it much better off than most.

Is school worth going into debt?

The College Debt Numbers

From a general economic perspective, it's still worth it to earn a college degree… The cost of a four-year degree “averages $102,000”, which means that even if you include the average $30,000 debt students graduate with, in pure numbers terms, it's still worth it.

Is vet school worth the debt?

Is vet school worth it? The purely financial answer is yes, vet school is worth it — but barely. The projected lifetime earnings of a veterinarian compared to the average college grad is $450,000 after taxes versus the $292,000 in cost of paying back student loans.

Is it worth it to wait to pay off student debt?
  • “It’s not costing you anything to wait. Until it starts costing you money, I would wait to see what happens,” says Snider. But not everyone carries an “average” amount of student debt.
Is student debt good debt?

They can be considered good debt because the money you're borrowing to attend school is your ticket to earning a degree and getting hired at a well-paying job… In fact, student loans may be the hardest type of debt to narrow down to simply “good” or “bad,” since everyone's financial and lending needs may differ.

Is college worth going into debt for?

Getting a college education is generally worth the financial investment as long as you graduate and are able to pay back college debt. College is often touted as the best vehicle to upward mobility, but it comes with financial risks. Without borrowing student loans, college costs are out of reach for many students.

Is college worth the debt in 2020?

Is A Degree Worth the Debt? In 2020, the answer isn't a cut and dry “yes.” Tuition costs are swelling. Student loans and consumer debts loom heavily over grads for decades. A degree no longer equals long-term wealth, or even a good job.

Is a college degree really worth the debt?
  • Pointing to the "college income premium," economists and researchers have long argued that a college degree - even with debt - is worth it.
Is it worth going into debt for college?

Getting a college education is generally worth the financial investment as long as you graduate and are able to pay back college debt. College is often touted as the best vehicle to upward mobility, but it comes with financial risks. Without borrowing student loans, college costs are out of reach for many students.

Are student loans good debt or bad debt?

In the good debt versus bad debt debate, student loans fall into a gray area. They can be considered good debt because the money you're borrowing to attend school is your ticket to earning a degree and getting hired at a well-paying job. That debt should pay itself off over time with a lucrative career in place.

Are student loans debt?

Colleges and universities have been increasing the costs for students to attend schools. This is subsequently increasing the amount of debt the students take on as student loans… As of 2018, a total of 44.2 Million borrowers now owe a total of over $1.5 Trillion in student debt.

Is student debt high?

Student Loan Debt Reaches New High Amid Paused Repayment

From 2015 to 2019, student loan debt grew at an average rate of just under 6% per year—making it one of the slowest-growing consumer debts. Since 2019, however, the overall student loan balance increased by 12%—the largest annual growth rate of any debt type. What causes student debt?
  • Automation is Replacing Millions of Jobs Automation is replacing jobs at a faster rate than in the past…
  • our purchasing power is about at the same level as it was 40 years ...
  • Government Meddling
Is a college degree worth the crisis of debt?
  • Pointing to the "college income premium," economists and researchers have long argued that a college degree - even with debt - is worth it.