Hi guys, those of you that went back to school; is the debt worth the gain?

I’m 25, have my bachelors and Masters, work full-time, and have a lot of large animal experience.

I’m considering pursuing vet school. It’s something I’ve wanted to do for a long time but life got in the way. I made excuses as to why I didn’t try but it always gave me this inner sense of disappointment. I have 9 classes and the need to get more vet experience standing between me and APPLYING to it.

I feel my age and gap between college and applying puts me at an advantage because I can go back in with a fresh mind and I’ve gained wonderful hands-on professional skills.

My biggest issue is the financial aspect. I’ve always worked hard to budget, save money, and be smart. I figured out how to pay my way through my Masters degree. Recently I became debt free and I’d almost look at budgeting as a hobby! I value financial freedom so much. Soooo it absolutely stumps me if going back to school is worth the financial stress. I have somewhat of a plan to tackle/pay for some of it but is it worth it? I’m sure I’m the only one that can answer this..and if money was no issue, I would go back.

Talk with several vets -- small and large animal.  Discuss the entire financial aspect with them - costs, 'worth it', and expected salary, etc.  Focus on the facts, weigh pros and cons, then make your decision. 

By the way, it is my understanding the USDA offers some terrific financial support/repayment options for those chosing large animal practice. Explore....

Good luck to you! 

Nope.  Nope.  & Nope.
I've talked to so many large aimal vets with massive amounts of student loans.  Some only have a salary of around $50K and their student loan payment from vet school alone is $1000/month.  Debt free financial freedom.... don't let that go!  

I think your age range is really good for professional school. And the fact you already have a master's degree.  What state do you live in?  If you can somehow manage to work part time or sell off a bunch of stuff, that would help with your debt.  A lot of my friends worked for the school in the SAH or the LAH while they were students to help pay.  Some of my friends had $0 student loan debt because their parents paid for school.  I had other friends who were in the hole over 250-300k when they were done, but they had all their undergrad and masters loans as well.  

I chose to not sell my horses, and I chose to take out loans to pay for school.  I have about 200,000 in student loans debts from undergrad and vet school combined.  The loans you get for professional school are federal unsubsidized loans, which means they do accrue interest while you are in school, unlike federal subsidized loans where you dont accrue interest.  I was already paying interest on my undergrad loans when I was in vet school because I worked so long my grace period was over, so I wasn't able to cover the interest payments for both sets of loans.  Most schools offer scholarships as well but honestly the scholarships i got were a drop in the bucket.  

Because you'd be taking federal loans, there are modified repayment schedules they offer, like income based repayment.  My 10 year standard repayment would be over $1000 per month, but my income dropped that to half of that.  But because of that they're getting me on interest so, theyre getting the money regardless  Also, at the end of 25 years whatever balance remains on your student loans is erased, but it is taxed as earned income.  

If you stay in non profit- like stay in academia, or take a shelter job, after 10 years of being in academia your loans are forgiven and the forgiven amount is not taxed as income. However this program was one of the ones Trump threatened to eliminate, so IDK if this program will always be available or not.  

Also just a heads up on salaries, this is about what an equine specific job makes:

1st year out of school to do equine exclusive you almost half to do an internship first. Some places dont make you (mine did not make me) but most do. Your slary that first year will range from 25.000-35,000 that year.

2nd year out of school when you go find a job, if youre doing equine exclusive you will likely start anywhere from 60-70k base salary, with other benefits thrown in.  As your years of experience grow you may get into the 80s or change to a salary + commission basis.  IF you are really productive and bring in a ton of money, you could switch to straight production and bring in about 20% of your gross. 

no debt is worth going back to school.

pay cash as you go........

well i am odd man out forget vet school  go to trade school  learn how to weld or electican plumer

go to vocational school

How does someone pay cash as they go taking 20 hour semesters with four hours of studying every night ? Its a full time job commitment that you’re paying for... You can do some part time work but idk how you can make enough to cover $30,000++ a year in fees while being in school full time. Full time for vet school, I’m not talking undergrad “full time” which is 12 hours. We are there 8-5 M-F and the courses require studying on and off campus after hours. It’s not like undergrad when you can actually have a job and pick classes around that schedule. 

A lot of the older vets that graduated 30 years ago said they were able to work summer jobs and pay for school stacking hay. Tuition has increased dramatically. 

 Thank you for all of the great advice, warm wishes, and opinions. It’s a lot to consider. I will definitely shadow before I commit. My plan was to continue working full-time, volunteering when I could, and taking 2 classes a semester until I could complete the requirements.

Casualdust, I knew you went to vet school so thank you for all of your great advice too!! If I could work to pay for it while I went, I would but unfortunately you’re right, it’s just impossible to completely work to pay for it while you go, on your own. I think for me to succeed, I would need to save as much as I can now to work as little as I could just for my basic necessities and bills.

I’m most interested in food animal, but would want to learn other things as well. 

I’ve considered a trade. I was a farm manager for a 300+ beef farm that makes all their own feed (more like farm hand) and kept my hands dirty so I know how to work! If anyone has suggestions  on a trade related to equine other than the common ones we know, I’d be interested to hear. 

Or any trades in large animal