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If you’ve graduated from veterinary school, you’ve likely accumulated significant student loan debt. And no wonder — four years of vet school generally costs $133,000-$429,000, including tuition, fees, and living expenses.
It may seem challenging to pay off what you owe for vet school, but there are plans and programs that can help. Read on to learn about how to pay for vet school and what you need to know to choose the best repayment method for you.
Key Points
• Veterinary school graduates have an average student loan debt of $174,484. It can take a decade or more to repay that debt.
• Income-driven repayment (IDR) plans that adjust monthly payments based on income and family size may help reduce student loan payments for some vet school graduates.
• If an IDR plan isn’t for you, consider a fixed federal repayment plan. These plans base your payments on your loan balance, interest rate, and repayment period.
• Recent legislation has resulted in the cancellation of some federal student loan repayment plans, which may require current enrollees of certain plans to transition to others.
• Student loan refinancing may offer those who qualify lower interest rates or more favorable terms, but when federal loans are refinanced, there’s no access to federal benefits such as income-driven repayment or federal forgiveness.
How Long Does It Take to Pay Off Vet School Loans?
For veterinary school graduates, the average vet school debt is $174,484, according to the American Veterinary Medical Association. So how long does it take to pay off that kind of vet school debt? It could take a decade or more to pay back vet student loans, depending on a number of factors, including the specific amount you need to repay and your income.
Doing a quick calculation can help you determine what your monthly loan payments would be and the time required to repay what you owe. For example, let’s say that you have a student loan amount of $174,484 with an 8.00% interest rate. If you’re on the standard repayment plan for federal student loans, which is 10 years, your payments would be $2,121 a month. With interest, you would end up paying $254,567 for your loans in total.
A monthly payment of over $2,000 may be more than some vet school grads can afford. Fortunately, there are ways to lower your payments, including income-driven repayment plans, student loan forgiveness programs, and student loan refinancing.
Income Driven Repayment Plans
Income-driven repayment (IDR) plans can help vets secure affordable monthly payments based on your income and family size. Under an IDR plan, you repay your federal student loans over 20 or 25 years, depending on the plan, and your remaining balance is forgiven at the end of the repayment period.
There are different IDR plans, including income-based repayment (IBR), Pay As You Earn (PAYE), Income-Contingent Repayment (ICR), and the new Repayment Assistance Plan (RAP). (The SAVE plan was terminated following a federal court ruling in March 2026.)
PAYE and ICR Plans
PAYE and ICR are plans that were closed to new enrollment in July 2024 but reopened in mid-December 2024 to give borrowers more options to keep their payments low, according to the Education Department (ED). Now, these two plans are once again slated for elimination by 2028. While you can still apply, you’ll have to change to a different plan within the next few years.
PAYE and ICR both offer credit toward Public Service Loan Forgiveness (PSLF). However, borrowers currently in PAYE or ICR can move into IBR if they wish, which will allow them to keep the credit toward potential loan forgiveness they previously earned.
Here’s how the plans work:
• PAYE: Borrowers enrolled in the PAYE plan make payments that are equal to 10% of their discretionary income above those amounts. Discretionary income is defined as the difference between your annual income and 150% of the poverty guideline for your family size and state of residence.
• ICR: In this plan, borrowers make payments that are equal to 20% of their discretionary income or the amount that would be paid on a repayment plan with a fixed payment over 12 years, adjusted according to income. Discretionary income for an ICR plan is the difference between your annual income and 100% of the poverty guideline for your family size and state of residence.
IBR Plan
IBR sets your monthly payments at 10% to 15% of your discretionary income depending on when you borrowed. It can end in loan forgiveness after 20 or 25 years. Borrowers who are pursuing PSLF may want to choose this plan, since income-driven repayment is required to qualify and the two other options noted above are being phased out.
New RAP Plan
Created by the federal budget bill in 2025, the RAP will be officially opened on July 1, 2026. RAP will be the only income-driven plan for loans borrowed on or after that date. The new plan uses a different calculation than current plans, based on your adjusted gross income (AGI) rather than your discretionary income. It sets your payments at 1% to 10% of your AGI, depending on your income, and has a repayment term of 30 years.
Student Loan Forgiveness
With student loan forgiveness, a portion or all of your federal student loans balances are canceled, typically in exchange for working in a certain type of job. For instance, PSLF forgives the remaining balance on federal Direct loans after 120 qualifying monthly payments are made under an eligible repayment plan when the borrower works for an eligible employer.
To be eligible for PSLF, you must:
• Be employed by the federal, state, local, or tribal government or a qualifying not-for-profit organization
• Work full-time for that agency or organization
• Have Direct loans (or consolidate other federal student loans into a Direct loan)
• Repay your loans under an income-driven repayment plan or a 10-year Standard Repayment Plan
• Make a total of 120 qualifying monthly payments, as noted above
You can use the Federal Student Aid’s employer search tool to find out if your employer qualifies you for PSLF.
In addition to PSLF, there are a number of other forgiveness programs and loan repayment programs for veterinary graduates. You can locate them through the American Veterinary Medical Association (AVMA). You can also check with your state for any student loan forgiveness programs they may offer to veterinarians.
Switching Loan Repayment Plans
With several repayment plans to choose from, it can be tough to pick the right one for you. The Federal Loan Simulator tool can help you compare your payments under various plans. First you’ll need to enter some personal information, such as your income and loan balance.
Besides comparing payment amounts, you can also see your total interest costs and understand your eligibility for loan forgiveness. Note that as of May 2026, the Loan Simulator doesn’t yet include the new RAP plan. However, there are alternative tools you can use to estimate your payments on RAP, such as the EDCAP calculator.
Tips for Restarting Loan Payments
If you’re restarting your loan payments after a period of forbearance or deferment, there are some strategies that can help you determine whether you’re on the best repayment plan for your situation and may help the repayment process go as smoothly as possible.
• First, make sure you know who your loan servicer is. This is the entity that handles your loan payments. Your account dashboard at StudentAid.gov should have this information.
• Confirm or update your contact information with your loan servicer and on your StudentAid.gov account.
• Take a good look at the repayment plan you’re on and think about whether an IDR plan might be a better option for you. As discussed above, an IDR plan may lower your payments because it bases your monthly payment on your income and family size. However, it typically takes longer to repay your loans on an IDR plan, which may mean paying more interest over the life of the loan.
• Consider whether student loan refinancing might help you repay your student loans. When you refinance student loans, you replace your current loans with one new loan from a private lender. Ideally, the new loan will have a lower interest rate or more favorable terms if you qualify, which may be helpful if you’re refinancing student loans to save money.
A student loan refinancing calculator can help you figure out if refinancing could be financially beneficial. Just be aware that refinancing federal loans with a private lender makes them ineligible for federal benefits such as income-driven repayment plans and federal student loan forgiveness.
Recommended: Student Loan Refinancing Guide
The Takeaway
Vet school student debt can be significant, but there are plans and programs to help borrowers repay their loans. You can explore income-driven repayment plans and Public Service Loan Forgiveness to see which option makes the most sense for you. Or if you don’t need access to federal benefits and programs, you may decide that student loan refinancing is a better choice for you. Whatever option you choose, be sure to weigh the pros and cons to make an informed decision.
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
FAQ
How long does it take to pay off vet school loans?
How long it takes to pay off vet school student loans depends on a number of factors, including the specific amount you need to repay and your income. If you’ve enrolled in a federal repayment plan, it may take 10-30 years to pay off your balance.
What’s the difference between income-driven and fixed payment programs?
Income-driven repayment (IDR) plans base your monthly payment amount on how much you make and your family size. Fixed payment plans, on the other hand, base your monthly payment amount on how much you owe, your interest rate, and a fixed time period.
How do I know if student loan refinancing is for me?
Before you commit to refinancing your student loans, explore the federal student loan repayment options available to you. This can help you choose the path that best fits your financial situation.
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/SeventyFour
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