Cost of Vet Schools
Cost is one of the biggest concerns for students considering attending one of the 28 vet schools in the United States. As tuition at most schools continues to rise each year, cost may play one of the most important roles in choosing the right veterinary school.
The tuition rates for U.S. veterinary schools vary greatly. Most of the schools give a discount to students from the same state where the school is located. This in-state tuition has in the past also been granted to students from nearby states that do not have veterinary schools within their borders. Most of these programs have been discontinued in the past several years due to budget cuts. Currently, students must have resided for one year or more in the state where the school is located to qualify for the in-state discount.
The average cost for in-state veterinary school tuition is about $18,000 per year. Out-of-state students can expect to pay about $30,000 per year. The most expensive veterinary school in the country is The Ohio State University College of Veterinary Medicine. The most recent cost of attendance is $50,568 annually for in-state residents, while out-of-state students pay $84,032 per year. The most affordable veterinary school is currently at Mississippi State University, with tuition for in-state students currently around $10,000 per year and for out-of-state students about $15,000 annually.
Other factors to consider when deciding upon a veterinary school include books, fees, and living expenses. If there is a nearby school, it can often be cheaper to remain at home and save on the costs of room and board. This is not a choice for most students, as there are so few schools of veterinary medicine, and room and board costs usually need to be factored in. Graduate student housing is sometimes available through the school and is often more affordable and convenient than living off campus. When living off campus, commuting costs such as bus fare or parking fees also need to be considered.
Tuition costs continue to rise at all universities in the United States, as budget cuts continue to drive the prices up. There are many factors to be considered when deciding on the value of the education at a vet school. In-state students often get a large tuition break just for living in the state. It may be valuable to reside for a year in the state before applying where the school of choice is located so that the tuition discount can be applied.
Paying for Vet Schools
There are many options available to students who plan to attend vet schools. When pursuing financial aid, students will often find that they are eligible for one or more types of student aid. Scholarships and grants may be available. Student loans can also sometimes be taken by students or their parents to help pay the cost of tuition and fees.
All students should fill out the Free Application for Federal Student Aid, or FAFSA. These are generally filled out by students and their parents in the spring before fall semester begins. Students are often eligible for some form of financial aid, and filling out the form is usually worthwhile, even if the student feels that he or she may not qualify for aid. The FAFSA is usually also required for students planning to take out student loans.
Grants and scholarships may be available from a number of sources. Employers often give scholarships to employees or their children, and students should seek out any such available funds. Grants may also be given on a need basis after qualifying through the FAFSA. Student loans are usually available for students but should be the last option used. Students or their parents can qualify to obtain student loans, which are sometimes subsidized by the government if the student qualifies through the financial aid form.
Financial Aid for Vet School
“Financial aid” is a general term used by schools to describe the amount and type of money that is available to help the student pay for tuition. Financial aid is available for students attending vet schools at accredited universities. The term encompasses a variety of different need-based programs such as scholarships, grants, work study, and student loans.
Students first need to qualify for financial aid before they are eligible to receive funds. This is accomplished by completing the Free Application for Federal Student Aid. This application can be completed at any time during the school year, but more funds are available for students the earlier they apply. The form is simple to prepare and asks for information about the student and his or her family. When financial information is requested, the specific box on the IRS form where the information can be found is provided. Need is calculated based on the earnings from the previous year; there are usually no exceptions to this unless the student becomes divorced or has a child during the school year. The formula is complicated and takes into account income, number of dependents, cost of tuition and fees, and the cost of housing in the area. The federal government sends a number to the individual school, which plugs the number into its formula to offer an amount to the student.
The types of aid available vary by school and the state where the school is located. Grants are often available on a need basis, but funds run out quickly. Students have a much better chance of receiving need-based grant or scholarship money if they apply for financial aid early in the season, usually right after the forms are accepted in the spring of that year.
Work study is often available to students. This type of financial aid guarantees that the student will be able to find a job on campus at up to 19 hours per week. The pay varies, but the hours are guaranteed. Students work on campus in any number of areas. Some students work in food services, while others work as tutors or assist other students in computer labs. Graduate students are often offered work-study positions in research with professors or as instructors of undergraduate students in introductory courses. Positions are limited, and students should seek out an opportunity as soon as they know they are eligible.
Student loans are the final part of the financial aid package. Students are allowed to borrow a certain amount based on their need. The federal government subsidizes the interest on the need- based portion of student loans, so upon graduation, students will only owe the amount they borrowed. When interest does begin to accrue after graduation, it is usually a much lower amount than interest on an unsubsidized loan.
Grants for Vet School
Grants are a form of financial aid available to students that usually does not have to be repaid. Grants can be used to reduce the amount of tuition and fees that must be paid while attending vet schools. Grants are available from several sources: the state government, the federal government, and the school itself. Some grants are need based and require application, while others are merit-based, going to those the school finds deserving. Grants can be an excellent way for students to help pay their way through veterinary school.
To be eligible for a grant, the student usually will need to fill out a Free Application for Federal Student Aid, or FAFSA, each spring. The data collected from this form is used to help determine what types of financial aid the student will qualify to receive. Each state sets aside its own amount of funds for need-based grants each year. Because of budget cuts, this amount has been declining in recent years, and fewer and fewer grants are given each school year. The states usually set aside some portion of funding for students enrolled in graduate programs, such as veterinary school, to allow students with lower incomes to obtain the education they would otherwise not be able to afford. Other funding is earmarked for students in undergraduate programs, with the bulk of need-based grants going to students studying for either associate’s or bachelor’s programs.
The federal government awards grants similarly to the way state governments do. After interpreting the FAFSA, the federal government calculates the amount of financial need each student has. The government will then suggest a financial aid package for the student based on the need. Some of the need may be covered with grants that will not need to be repaid. Other options may include work-study programs or student loans. Because grants are essentially free money, they are the best option for those who qualify for them.
Vet School Scholarships
Scholarships are a form of student financial aid that is usually based on merit. There are many sources of scholarships for students planning to attend vet schools. Many employers make scholarships available to employees and their children. There are also private companies that award scholarships each year to students they find deserving. Scholarships are also given out by the school that the student is attending, often on the basis of grades or community service. As these scholarships are money for tuition and fees that does not need to be repaid, they can be an excellent payment option for eligible students.
Students should check with their past and present employers for potential scholarship opportunities. They should also check with family members to find out if any of their employers offer scholarships for the family of employees. If the only eligible recipients are family members of employees, the student stands a much greater chance of being able to qualify for that scholarship. These types of scholarships are generally not as large as national or school-based scholarships, but they are easier to obtain.
There are many national scholarships available annually to students. Students should research some of the large databases on the Internet to find scholarships for which they are eligible to apply. These scholarships often have thousands of qualified applicants. Writing excellent essays and being able to show the reason the student stands out from the crowd are crucial to being able to win these types of scholarships. Students may need to apply for hundreds of national scholarships to obtain just one or two. It can be a lot of work to land these kinds of scholarships, but as the money does not need to be repaid, it can be a great way to get extra money for vet school.
Schools themselves often award scholarships to students. These awards are usually based on merit, with grades and public service often being the most heavily weighted factors in deciding which students receive awards. Scholarships may be awarded automatically but usually require application through the office of financial aid at the school. The financial aid office can be of great assistance to students in helping them to determine which school scholarships they are eligible to receive. They can also be used to help plan which awards should be applied for in the next cycle, giving the student ample opportunity to get the right type of experience that might be necessary to be eligible to apply.
Scholarships are an excellent source of money for tuition and fees when going to vet schools. These awards are usually based on merit and do not have to be repaid. Students should look for opportunities early, and should plan ahead for which scholarships would be most suitable for them and for which awards they will have the best chance of winning.
Student Loans for Veterinary School
Students often need to borrow money in the form of student loans to be able to pay for vet schools. Student loans may be subsidized or nonsubsidized, depending on the financial need of the student. Students can borrow a certain amount based on the tuition, fees, and housing costs they will incur while enrolled in an accredited program.
When deciding whether or not to pursue student loans, students should first fill out the Free Application for Federal Student Aid (FAFSA) and submit it according to the instructions. The form can be filled out as soon as tax information is available, and some tax programs will even help the student fill out and submit the form to the government. Students may be eligible for some subsidized loans that are available through government programs. Graduate students in particular are eligible for more in subsidized loans than undergraduate students, as the tuition and fees for graduate school tend to be much higher. Students should fill out the FAFSA even if they think they have no chance of qualifying for aid.
Some students will qualify for subsidized student loans. The government will pay for the interest on the subsidized loan for a certain length of time, usually until about six months after graduation from the educational program. Subsidized loans are usually need based, and students need to fill out the FAFSA to see if they qualify. These loans may be processed through banks, although they are more often processed through the government itself. No payments need to be made on these loans until after the student has graduated.
Unsubsidized loans are usually available to all students. Students interested in unsubsidized loans still need to apply through the financial aid office by filling out the FAFSA. The financial aid office will determine how much the student can apply for, based on the cost of tuition, fees, and the type of housing the student has chosen. Interest on these loans begins accruing immediately, and some students choose to make payments on the interest while they are still in school. These unsubsidized loans usually become payable as soon as the student graduates, with no grace period after graduation. The amount of interest is set by the government and is the same no matter which bank the student chooses to borrow from. These loans are generally initially serviced by banks and are usually sold to a processor before the student graduates from the program.
Student loans are a popular choice for paying for vet school. The amounts can accrue quickly, however, and students should not borrow more than the minimum amount they need to cover the cost of tuition and living expenses.