If you love animals, a career in veterinary medicine could be a good career option. Keep in mind that vets are highly-skilled medical professionals who complete intensive studies before becoming certified to practice, which can be demanding as well as expensive.
However, becoming a veterinarian can also be very rewarding. And the good news is that there are several ways to cover the costs of veterinary school, such as student loans and financial aid.
How much is vet school?
Attending college has grown steadily more expensive over the past few decades, and veterinary school is no different.
The average cost of vet school for in-state residents has risen to $200,000, while students at out-of-state schools can expect to pay an average of $275,000, according to the Veterinary Information Network Foundation.
Keep in mind: To become a veterinarian, you’ll typically need to complete a bachelor’s degree before earning a Doctor of Veterinary Medicine (DVM) degree — in total, this usually takes about eight years.
Because of the high cost associated with this long education period, you’ll likely need to rely on a variety of funding sources to cover their expenses, such as student loans as well as any scholarships and grants that they qualify for.
Factors that contribute to vet school costs
There are several factors that can impact how much vet school costs, such as:
- Residency: Generally, you’ll pay much less in tuition and fees to attend an in-state school as a resident than you would at an out-of-state school.
- School type: Public schools typically charge much less compared to private schools. This is mainly because public schools rely on federal, state, and local funding while private schools are privately funded.
- Living expenses: Your cost of living will vary depending on where you go to school and can include expenses such as housing, meal plans, and transportation.
Keep in mind: If you take out student loans to cover your vet school costs, you’ll also pay interest on top of whatever you borrow.
Top 10 least expensive vet schools
To give you an idea of the range of vet school costs, here are the 10 least expensive vet schools, according to the American Association of Veterinary Medical Colleges (AAVMC):
Top 10 most expensive vet schools
And here are the 10 most expensive schools, according to the AAVMC:
How to pay for vet school
If you’re ready to figure out how to pay for vet school, follow these five steps:
1. Fill out the FAFSA
Your first step should be filling out the Free Application for Federal Student Aid (FAFSA). Your school will use your FAFSA results to determine what federal student loans and other financial aid you qualify for.
Tip: Be sure to complete the FAFSA before the deadline so you can take advantage of any aid that you can — for the 2022-2023 academic year, you have until June 30, 2023.
Keep in mind that some aid is given on a first-come, first-served basis, so it’s a good idea to submit the FAFSA as early as possible.
2. Apply for scholarships and grants
Unlike student loans, college scholarships and grants don’t have to be repaid — which makes them a great way to pay for school. There’s no limit to how many scholarships and grants you can get, so it’s a good idea to apply for as many as you can.
Many scholarships and grants are specifically designed for veterinary students, such as the:
- American Kennel Club (AKC) Veterinary Outreach Scholarships: These awards are available to vet students who have participated in AKC events and programs. Depending on the sponsor, students might be awarded up to $10,000.
- Animal Care Pennsylvania’s Veterinary Student Scholarship: This award is given to second-, third-, or fourth-year vet students from Pennsylvania who have financial need.
- Merck Animal Health Veterinary Student Scholarship Program: This program awards $5,000 scholarships to second- and third-year vet students with financial need.
You might also qualify for school-based scholarships depending on your FAFSA results.
3. Get a job or participate in a work-study program
Working during school could help you cover some of your school expenses. If you have financial need, you might qualify for the federal work-study program, which provides part-time jobs for college students.
These jobs are often on campus, though in some cases, you might work for a private nonprofit or for-profit employer that has partnered with your school.
Tip: Coursework for vet school can be intense — so if you choose to work while going to school, make sure to leave yourself enough time to devote to your studies as well.
4. Take out federal student loans
If you need to borrow for school, it’s usually best to rely on federal student loans first. This is mainly because these loans come with federal benefits and protections, such as access to income-driven repayment plans and student loan forgiveness programs.
There are two main types of federal student loans that vet school students might qualify for:
- Direct Unsubsidized Loans: These loans are available to undergraduate, graduate, and professional students regardless of financial need. Keep in mind that unlike with undergraduate subsidized loans, you’re responsible for all of the interest that accrues on unsubsidized loans.
- Grad PLUS Loans: This category of Direct PLUS Loan is available to students who want to pay for grad school or a professional program. Keep in mind that Grad PLUS Loans usually come with higher interest rates than other federal loans. They also require a credit check.
Tip: After you submit the FAFSA, your school will send you a financial aid award letter detailing what federal student loans and other financial aid you’re eligible for. You can then decide which aid you’d like to accept.
5. Use private student loans to fill any gaps
After you’ve exhausted your scholarship, grant, and federal student loan options, private student loans could help fill any financial gaps left over.
While these loans don’t come with federal protections, they do offer some benefits of their own — for example, you can apply at any time, and you might be able to borrow more than you’d get with a federal loan.
Tip: You’ll typically need good to excellent credit to qualify for a private student loan — a good credit score is usually considered to be 700 or higher. There are also some lenders that offer student loans for bad credit, but these loans usually come with higher interest rates compared to good credit loans.
If you’re struggling to get approved, consider applying with a creditworthy cosigner to improve your chances. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.
If you decide to take out a private student loan for vet school, be sure to consider as many lenders as possible to find the right loan for your needs. Credible makes this easy — you compare your prequalified rates from our partner lenders in the table below in two minutes.
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4.07% - 15.48%
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Is it worth it to go to vet school?
As of 2021, the average salary for veterinarians is $87,303, according to Payscale. However, you’ll likely be able to earn a higher salary as you gain more experience in the field. After working for five to nine years, the average salary rises to $90,338, while vets with 20 or more years of experience can expect to earn an average of $97,971.
Tip: If you’re thinking about taking out student loans to pay for vet school, make sure to consider how much you could potentially earn once you enter the workforce and whether your future loan payments will be affordable.
The less you borrow in student loans, the better the return on investment will be for your vet schooling — so be careful to borrow only what you need.
If you decide to get a private student loan, remember to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.
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