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Paying for veterinary school can be overwhelming, especially after you submit the FAFSA® and see how much you may need to borrow. Given the high cost and length of these programs, it’s important to create a realistic financial plan. Below, we break down typical veterinary school expenses, how the FAFSA works for graduate students, and strategies for budgeting, comparing aid offers, and borrowing wisely.

Typical Costs of Veterinary School

Veterinary school is a multi-year commitment — typically four years — and the cost can vary widely depending on where you go to school and your residency status. On average, the total cost to earn a Doctor of Veterinary Medicine (DVM) degree range anywhere from $275,000 to $397,000.

The main cost categories include tuition and fees, clinical expenses, and living expenses like housing, food, and travel. Each of these plays a major role in determining how much you’ll need to fund through savings, aid, and loans.

Tuition and Program Fees

Tuition and fees typically represent the largest expense for veterinary students. Public universities generally offer lower rates for in-state residents, while out-of-state tuition can be significantly higher. In contrast, private veterinary schools tend to charge consistent tuition regardless of residency, though these rates are often higher than public options.

Examples for the 2025/26 academic year:

•  University of Florida College of Veterinary Medicine: First-year tuition and fees are $28,790 for state-funded (in-state) students and $45,500 for self-funded (nonresident) students.

•  Western University of Health Sciences: First-year tuition and fees are $68,305, applied uniformly to all students regardless of residency.

Clinical Rotations

Clinical rotations, usually occurring in the final year of veterinary school, can introduce additional costs beyond standard tuition and living expenses. During this period, students gain hands-on experience in veterinary hospitals and partner clinics.

Expenses associated with clinical rotations may include:

•  Background check and fingerprinting: $100

•  Specialized equipment: $250

•  Transportation to external sites: $1,104

•  Licensing and board fees: $1,610

While these experiences are essential for building practical skills, they can also strain your budget if you don’t plan for them in advance.

Housing and Travel

Beyond tuition, fees, and clinical expenses, you’ll need to budget for general living expenses during veterinary school. Most institutions include indirect personal costs — such as housing, transportation, food, and personal miscellaneous expenses — in their published cost of attendance (COA).

For example, UC Davis estimates the following costs for first-year veterinary students in 2025-26:

•  Food and Housing: $20,955

•  Books and Supplies: $3,909

•  Transportation: $3,353

•  Personal Expenses: $2,367

While schools base these estimates on student surveys and local economic data, your actual total may be different, depending on your living, commuting, and spending choices.

FAFSA and Veterinary School Aid

The Free Application for Federal Student Aid, better known as the FAFSA, is the essential first step in paying for vet school. As a graduate-level program, veterinary school students are generally considered independent, which means parental income is typically not required on the application.

After submitting the FAFSA, you may qualify for Federal Direct Unsubsidized Loans. These loans are not based on financial need, and interest begins accruing immediately upon disbursement. Starting July 2026, professional students can borrow up to $50,000 annually, with a $200,000 lifetime cap. While interest accumulates during school, repayment is deferred until six months after you graduate or drop below half-time enrollment. (Note: The Graduate PLUS Loan program is discontinued for new borrowers effective July 1, 2026.)

You may also qualify for Federal Work-Study, which is a need-based program providing part-time campus or community service jobs. While graduate students are ineligible for Pell Grants, some institutions use FAFSA data to award their own internal scholarships or need-based grants, though these are often limited and competitive.

Recommended: Financial Aid for Higher Income Families

Budgeting for Living Expenses

Creating a realistic budget is one of the most effective ways to control borrowing during veterinary school. Since most students rely heavily on loans to finance their education, every dollar you don’t spend is a dollar you don’t have to repay with interest later.

Start by estimating your monthly expenses for:

•  Housing: Rent, utilities, and internet.

•  Food: Groceries and occasional dining out.

•  Transportation: Gas, insurance, maintenance, or public transit.

•  Personal spending: Health care, cell phone, and modest entertainment.

Compare your total estimate to your school’s COA. While the university provides a standard allowance, your actual spending may be lower. You can use student loans for housing, up to the COA limits, but living lean — by sharing rent with roommates, cooking at home, and using student discounts — may allow you to refuse a portion of your offered loans, leading to significant long-term savings.

To stay on track with your monthly budget:

•  Monitor your spending weekly.

•  Use budgeting apps or a simple spreadsheet.

•  Set firm limits on discretionary expenses.

Comparing Aid Packages

If you’ve been accepted to multiple veterinary schools, comparing financial aid packages is a key step in making your decision. To find the best value, look past the total cost and weigh these factors:

•  “Free” money: You may want to prioritize schools offering scholarships or grants that don’t require repayment.

•  Renewability: Confirm if scholarships and stipends are guaranteed for the entire program or only the first year.

•  Terms and conditions: Check for any requirements for funding, such as maintaining a specific GPA or fulfilling assistantship hours.

•  Residency rules: See if you can qualify for in-state tuition after your first year, which can provide significant long-term savings.

•  Hidden savings: Look for shorter programs or substantial opportunities for paid assistantships.

Consider setting up a simple side-by-side spreadsheet to track these variables. Seeing the all-in cost for each year can help make your final choice much clearer.

Borrowing Strategies for Long Programs

Veterinary school is a long program, and borrowing decisions can have lasting financial implications. Coming up with a proactive strategy can help you manage student debt efficiently from day one.

Borrow Only What You Need

It can be tempting to accept the full loan amount offered by a veterinary school. However, this can lead to excessive debt, which can limit your career flexibility and financial freedom after graduation. It’s wise to only borrow what you need to cover essential expenses.

Understand Interest Accrual

Federal unsubsidized loans begin accruing interest the moment they are disbursed. For loans issued between July 1, 2025, and July 1, 2026, the rate is 7.94%. Over four years, this can grow significantly. If your budget allows, consider making interest-only payments while in school. This can stop or minimize capitalization — the process where unpaid interest is added to your principal balance, causing you to pay interest on your interest later.

Prioritize Federal Over Private Loans

Federal loans offer capped interest rates, flexible repayment plans, and access to forgiveness programs like Public Service Loan Forgiveness (PSLF) — a valuable benefit for veterinarians who pursue nonprofit or government roles. If federal funding falls short, you might bridge the gap with private student loans, including specialized loans for health professionals. Keep in mind, however, that private loans do not offer the same borrower protections as federal ones. Be sure to compare lenders to find the most favorable rates and terms.

Recommended: How Do Student Loans Affect Your Credit Score?

The Takeaway

Paying for veterinary school can be challenging, but having a clear plan can make it more manageable. By understanding your total costs, keeping your spending under control, and borrowing only what you truly need, you can reduce long-term financial stress. The goal is to stay informed and make steady, practical decisions so you can focus on your education while keeping your future debt as manageable as possible.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

Does FAFSA work for vet school?

Yes, the Free Application for Federal Student Aid (FAFSA®) works for veterinary school. As a graduate student, you are considered independent, meaning parental income is typically not required. Submitting the FAFSA determines your eligibility for federal aid, primarily the Federal Direct Unsubsidized Loan. Starting July 2026, professional students can borrow up to $50,000 annually, with a $200,000 lifetime cap. The FAFSA may also qualify you for Federal Work-Study and, in some cases, institution-based scholarships or grants.

Are vet school loans different from undergrad loans?

Yes. The biggest difference is that federal loans for veterinary students are unsubsidized, meaning interest starts growing the moment the funds are dispersed. Unlike some undergraduate loans, the government does not pay your interest while you’re in school.

Another key difference is that as a grad student, your FAFSA eligibility is based only on your own finances, not your parents’. You’ll also have access to higher borrowing limits to cover the increased cost of professional tuition.

Can living expenses be included in loans?

Yes. When calculating your cost of attendance (COA), veterinary schools include a budget for indirect expenses like housing, food, and transportation. You are permitted to use student loan funds — both federal and private — to cover these living costs, up to the total COA limit set by the school. However, borrowing only what you need for tuition and essential living expenses is recommended to minimize your overall debt burden.

How early should funding be planned?

Planning for vet school funding should begin as early as possible, ideally at least a year before you plan to enroll.

Start by researching the estimated cost of attendance (COA) for the programs you are interested in. You should also complete the FAFSA as soon as it becomes available (typically in February for the following academic year) to maximize your eligibility for federal aid.

Early planning allows you time to understand your financial gap, compare aid packages from different schools, and explore scholarships and private loan options with favorable terms, ultimately minimizing your debt.

Photo credit: iStock/kali9

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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Graduate school follows a unique financial timeline, and missing key deadlines can cost you valuable aid. From filling out the Free Application for Federal Student Aid (FAFSA®) to meeting school-specific priority dates, timing plays a major role in how much funding you receive.

Understanding how the FAFSA fits into your grad school timeline — and how it aligns with institution deadlines — can make the difference between receiving maximum aid and scrambling to cover costs at the last minute. Below, we break down what you need to know about FAFSA timing, key financial deadlines, and how to stay on track.

FAFSA Timeline for Graduate Students

The FAFSA is the essential first step for securing aid for graduate school. While grad students are generally ineligible for Pell Grants or subsidized loans, the FAFSA is still important for accessing Direct Unsubsidized Loans, Federal Work-Study, state-specific grants, and institutional aid.

The FAFSA typically opens on Oct. 1 for the following academic year. It’s highly recommended to complete the form as soon after it opens as possible — even if your school choices aren’t finalized. You can add or remove schools later via your StudentAid.gov account. Filing early helps ensure you are considered for aid that may be distributed on a first-come, first-serve basis.

One advantage for graduate students is that they are considered independent students for FAFSA purposes. This means you typically do not need to provide parental financial information, which simplifies the application. However, timing still matters. Many graduate programs use rolling admissions or offer multiple start dates, so your FAFSA submission should align with your intended enrollment period to ensure your aid is processed in time.

💡 Quick Tip: Some lenders help you pay down your student loans sooner with reward points you earn along the way.

Key Grad School Financial Deadlines

Graduate school financial planning involves more than just submitting the FAFSA. You also need to keep track of school-specific deadlines and billing schedules.

FAFSA Submission Windows

The federal FAFSA deadline for the 2026–27 academic year is June 30, 2027. While this provides a nearly 18-month application window from the October 1, 2026 opening date, waiting until the end of the cycle is rarely a good idea. Submitting early gives you the best chance of securing institutional grants and work-study funds. It also helps ensure your financial aid is processed and reflected on your account well before your school’s tuition billing deadlines.

For example, if you plan to start graduate school in the fall of 2027, the ideal submission window generally falls between October 1, 2026 and February 1, 2027. This timeframe is important because many states and institutions set their own deadlines much earlier than the federal government.

Starting early also gives you time to resolve any potential issues — such as verification requirements or requests for additional documentation — without risking your overall aid package.

Recommended: Who Qualifies for FAFSA? Find Out if You Do

School Priority Deadlines

Many graduate programs set priority deadlines for financial aid consideration. These dates vary significantly — some fall as early as February 1, while others extend into the spring for fall enrollment.

Be sure to check each school’s financial aid page carefully. Meeting a priority deadline doesn’t just improve your chances of receiving aid — it may be required for certain graduate scholarships, assistantships, or fellowships. Even if your program does not list a priority deadline, submitting your FAFSA early is still a smart move.

Tuition Billing Dates

Tuition billing dates are another key part of the timeline. Many schools issue bills several weeks before the start of the semester, with payment due by the first day of classes.

If your financial aid is not finalized by the billing date, you may need to pay the full bill out of pocket temporarily or enroll in a payment plan. This is why aligning your FAFSA submission and loan applications with your school’s billing schedule is so important. Understanding when your bill is due — and when your aid will be dispersed — helps you avoid unnecessary stress and potential late fees.

What Happens After You Submit the FAFSA?

Submitting the FAFSA is just the beginning. Several steps must take place before your financial aid is finalized and applied to your account.

Verification Process

Some students are selected for verification, a process in which schools request additional documentation to confirm the accuracy of FAFSA information. You might see a note on your FAFSA Submission Summary or receive a request directly from your school. This is a routine part of the financial aid process and does not necessarily mean you made a mistake.

If selected, respond promptly. Delays in verification can hold up your financial aid package and potentially affect your ability to pay your tuition bill on time.

Financial Aid Packaging

Once your FAFSA is processed and any verification is complete, your school will create a financial aid package. For graduate students, this typically includes Federal Direct Unsubsidized Loans. (Note: Graduate PLUS Loans, which previously covered the full cost of attendance for graduate school, are no longer available to new borrowers as of July 1, 2026.)

Some programs also offer institutional aid, such as fellowships or assistantships, which may be included in your package or awarded separately. Your aid package might also include a state grant, if applicable.

Review your financial aid offer carefully. Consider how much you need to borrow and whether you can supplement your funding with savings, part-time work, or external scholarships. Accepting your aid promptly helps ensure it is applied to your account in time for tuition deadlines.

💡 Quick Tip: Need a private student loan to cover your school bills? Because approval for a private student loan is based on creditworthiness, a cosigner may help a student get loan approval and a more competitive rate.

Aligning Loan Applications With School Billing

For many graduate students, federal loans are the primary way to pay for school — but the money isn’t instant. You’ll need to complete several follow-up steps before the government releases funds to your institution.

After submitting the FAFSA, stay on top of these requirements:

•  Accepting your loans through your school’s financial aid portal.

•  Completing entrance counseling to ensure you understand your obligations.

•  Signing a Master Promissory Note (MPN), your legal promise to repay.

Aim to finish these steps at least three weeks before your tuition is due. If you’re using graduate student loans from a private lender, keep in mind that it can take anywhere from one to eight weeks from the time you apply to disbursement of funds.

Once processed, loan funds are typically sent directly to your school to cover your balance. Any leftover funds are then refunded to you for other education-related expenses. To avoid paying out-of-pocket or facing late fees, be sure to stay ahead of deadlines.

Recommended: How Long Does it Take to Get a Student Loan?

What to Do If You Miss a Deadline

Missing a FAFSA or financial aid deadline isn’t ideal, but it’s not the end of the road. There are still steps you can take to secure funding.

First, submit your FAFSA as soon as possible. Even if you miss a priority deadline, you may still be eligible for federal loans, which are not awarded on a first-come, first-serve basis.

Next, contact your schools’ financial aid office. They may be able to offer guidance, extend deadlines, or suggest alternative funding options. You might also explore:

•  School payment plans to spread out costs

•  Employer tuition assistance programs

•  Scholarships with later application cycles

•  Private student loans (to bridge any remaining funding gaps)

While missing a deadline can limit your options, proactive communication and quick action can help you recover.

The Takeaway

Navigating FAFSA and graduate school deadlines requires careful planning and attention to detail. Unlike undergraduate education, where timelines are more standardized, graduate school deadlines can differ widely between programs, even within the same university.

Your best defense is to start early. Submit your FAFSA soon after it opens, track each school’s priority deadlines, and align your financial aid process with tuition billing dates. Staying organized throughout the process can help ensure your funding is in place when you need it.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

When should grad students submit the FAFSA?

For the best chance at securing institutional grants and work-study funds, graduate students should aim to submit the FAFSA soon after it opens on October 1 for the following academic year. The ideal submission window is typically between October 1 and February 1.

While the federal deadline is much later (June 30 of the following year), many states and individual schools have priority deadlines that fall much earlier. Submitting early ensures you are considered for all aid and allows time for processing before tuition billing dates.

Can you still get student aid after the deadline?

You may still be able to receive federal student aid even if you miss a school or state deadline, as the federal deadline is much later (typically June 30th). Federal Direct Unsubsidized Loans are generally available throughout the academic year to any student who meets the basic eligibility requirements.

However, missing a priority deadline often means you forfeit consideration for school-specific grants, assistantships, and work-study funds, which are often limited. It’s always better to submit the FAFSA late than not at all. If you miss a key date, contact your school’s financial aid office immediately to explore remaining options.

How long does student financial aid processing take?

Federal financial aid processing typically takes one to three business days after you submit the FAFSA and is complete once you receive your FAFSA Submission Summary. However, the time it takes for your school to review your file and create your financial aid package can take several weeks, sometimes even a few months. Federal loans are generally disbursed directly to the school at the start of the semester.

Private loans can take anywhere from one to eight weeks from the time you apply to approval and disbursement of funds.

When are student loan funds disbursed?

Both private and federal student loans are generally disbursed directly to the school around the start of each semester, often one week before the first day of classes.

About the author

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.

Photo credit: iStock/MStudioImages

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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