Let’s talk about money. Despite what we all would like to think, most everything in the world revolves around money and the veterinary industry is not any different. The cost of a veterinary education has never been higher, and it is one of the biggest hurdles that any student must deal with in pursuit of a DVM degree. For some schools and out-of-state students, tuition can run upward of 50 thousand dollars. Many other costs also exist, like room and board, vehicle maintenance, and supplies you’ll need for veterinary school. To put it plainly, a veterinary education does not come cheap.
During our professional foundations classes, one of the school’s financial advisors gave a talk about personal finances during veterinary school. Unlike tuition, this is the only part of our educational costs that students have control over. His goal was to inform us on how to keep our debts and spending to an absolute minimum. The talk covered topics like the average costs for room and board, using credit wisely, borrowing only what is needed, and being aware of how much you are actually spending. So far I have found many of these suggestions helpful. By keeping track of my spending over an entire month, I know how much I should be spending and areas where I can reduce my expenditures. I also reduced one of my loans, because I realized I wasn’t going to need all the money that I had borrowed. Before this discussion, I thought that I was good at managing my finances, but this talk really made me think about spending wisely.
Even with all these wonderful tips, I know I will still have a massive amount of debt when I obtain my DVM. Yes, we will have to deal with paying off our educational debts, but it will all be worth it in the end. I am not in the field for the money, but because I enjoy helping animals and people. I know I will be making a difference as a veterinarian, and that is my motivation for all my efforts.