by Dr. Michael Fagan
Michael Fagan, DVM |
I love my job as a veterinarian. I get to work with other like-minded
people. I get to play with puppies and
kittens. I very often make patients’
lives better, and every now and then literally save a life. Biology and medicine are interesting and
challenging. Surgery can be exciting and
rewarding. There’s no other job I would
prefer to do.
But, like any other good thing, there are not-so-good
things that tag along. Sometimes we
can’t save a patient’s life, or even make it feel much better. Euthanasia is always sad, even when it is the
best and right option. People sometimes
get angry with us. Sometimes they cannot
afford a treatment we know would help.
Surprisingly, some dogs and cats don’t like us! Bites are rare but can happen at any time.
Then there are the financial issues facing new or
prospective veterinarians. A recent
article in the NY
Times revealed the median cost of veterinary school (including living
expenses) to be nearly $250,000 in 2011.
This does not include the cost of three to five years of undergraduate
study. Meanwhile, the median salary of
new veterinarians that year was only $45,500.
It is nearly impossible to repay a $250,000 loan on such a
salary. It would require over $2500 a
month, on a salary less than $4,000 a month.
And not all graduates are finding jobs lately. Last year, about one third of veterinary
graduates were without an offer for a full time job.
There are some loan forgiveness programs, such as 501(c)3
charitable or military service, or Income Based Repayment or Pay As You Earn
programs which keep payments lower but come with a potentially hefty tax burden
at the end.
So! If science and
math and problem solving and communication and a love of living things are your
strong suits, by all means consider becoming a veterinarian. But do so with eyes wide open to the cost of
getting there and the challenge of repaying loans after graduation. It is possible, but requires planning,
discipline, commitment and endurance, and sometimes help from families or
spouses.
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