Pursuing a Doctor of Veterinary Medicine (DVM) degree can lead to a fulfilling career caring for animals, supporting public health, or advancing research. But like many professional degrees, vet school typically comes with a hefty price tag. Tuition, fees, and living expenses can add up quickly over four years.
Fortunately, there are a number of ways to lower your out-of-pocket costs and keep your debt manageable. Below, we explore seven practical ways to pay for vet school — plus tips for creating a smart financing plan.
Table of Contents
Key Points
• The total cost of vet school, including tuition and living expenses, can range from approximately $275,000 to nearly $400,000, making a financing plan essential.
• Choosing an in-state public university or one with regional agreements is often the most significant way to reduce tuition costs.
• Prioritize non-repayable aid like scholarships, grants, and fellowships to minimize the overall cost of a DVM degree.
• Federal Direct Unsubsidized Loans are generally the next step after exhausting free aid.
• After tapping federal options, private student loans can cover remaining costs but lack the federal safety nets like income-driven repayment.
How Much Vet School Costs and Why Planning Matters
The cost of veterinary school varies widely depending on whether you attend a public or private institution and whether you qualify for in-state tuition. Total costs for four years (including tuition, fees, books/equipment, and living expenses) can range anywhere from $275,000 to $397,000.
For example:
• The total cost to earn a DVM at the Ohio State University College of Veterinary Medicine is about $274,800 for in-state residents and approximately $323,500 for out-of-state students.
• The total cost to earn a DVM at Tufts University’s Cummings School of Veterinary Medicine is roughly $397,400.
Since most veterinary students take out student loans to finance their education, it’s important to plan ahead. The amount you borrow will directly affect your monthly payments after graduation and how long it takes to become debt-free. Building a financing strategy early can help minimize unnecessary debt. Every dollar you save in tuition — or secure through scholarships and grants — is a dollar you won’t pay interest on later.
1. Choose an Affordable School
One of the most important financial decisions you’ll make is where to attend veterinary school. Public universities typically offer lower tuition for in-state students. If you live in a state with a veterinary college, qualifying for residency can substantially reduce your total cost. Some states without vet schools participate in regional agreements that allow students to attend partner institutions at reduced rates.
While prestige and location matter, it’s important to compare total projected costs — not just first-year tuition. Even a difference of $10,000 per year adds up to $40,000 over a four-year program — not including student loan interest.
The American Association of Veterinary College (AAMC) offers a cost comparison tool that can help you compare tuition and other expenses at accredited veterinary schools across the U.S., including the average amount of institutional scholarship aid awarded to first-year students and the percentage of students who receive it.
2. Scholarships
Scholarships are one of the best ways to pay for vet school because they don’t need to be repaid. You can find scholarships from a variety of sources, including local veterinarian offices, kennel clubs, businesses, and professional organizations. For example, both the AAMC and the American Veterinary Medical Foundation (AVMF) offer scholarships for veterinary students.
Some private foundations may provide scholarships for students pursuing specialties such as large animal care, rural practice, or public health. These scholarships aim to reduce debt and encourage students to fill critical, high-need areas in the veterinary profession.
Many colleges of veterinary medicine also award institutional scholarships automatically based on your application, while others require separate applications. Ask your prospective school’s financial aid office for details.
Recommended: Scholarship Search Tool
3. Fellowships
Some vet schools offer research fellowships that provide tuition support and/or stipends in exchange for participating in faculty-led research projects. These programs not only provide financial support but also enhance your resume, particularly if you’re considering academia, non-clinical careers in industry and government, or a specialized practice.
Certain federal agencies and nonprofit organizations also offer fellowship programs tied to public health or research. While competitive, these opportunities can provide financial relief along with professional development.
4. Grants
Grants are another form of “free money” for college that does not require repayment. While grants are less common for graduate-level students than for undergraduates, some options may still be available based on financial need.
Certain state programs, nonprofit organizations, and veterinary associations may offer grants for students committed to rural or underserved communities or veterinary shortage areas.
Completing the Free Application for Federal Student Aid (FAFSA®) each year will determine your eligibility for any need-based grant funding. Even if grants only cover a small portion of your expenses, every dollar awarded reduces how much you may need to borrow.
5. Federal Loans for Health Profession Students
When scholarships and grants aren’t enough, federal student loans are typically the next step. Federal loans often offer borrower protections and repayment options not available with private student loans.
Direct Unsubsidized Loans for Veterinary Students
Veterinary students are generally eligible for Direct Unsubsidized Loans through the U.S. Education Department. These loans are not based on financial need, and interest begins accruing as soon as funds are dispersed.
Starting in July 2026, professional students may borrow up to $50,000 per year in Direct Unsubsidized Loans, with a lifetime cap of $200,000. While interest accrues during school, you don’t need to begin repayment until six months after you graduate, leave school, or drop below half-time enrollment.
Borrowers who take out loans after July 1, 2026, will have two repayment options — a standard plan that features fixed monthly payments over a 10- to 25-year term based on the total amount borrowed and an income-driven repayment plan.
Health Professional Student Loan (HPSL)
The Health Professional Student Loan (HPSL), administered by the U.S. Department of Health and Human Services, is a low-interest, need-based loan for students in dentistry, pharmacy, podiatric medicine, optometry, and veterinary medicine. These loans feature a fixed 5.0% interest rate that is subsidized until repayment begins 12 months after you complete your program.
Eligibility is determined by your FAFSA data and parental financial data (required regardless of dependency status). Unlike standard federal Direct Loans, HPSL borrowing limits vary by institution. Your school will notify you if you are eligible for an HPSL, provide your max borrowing amount, and tell you how to sign for your loan.
6. Graduate PLUS Loans
Federal Graduate PLUS loans have historically allowed graduate and professional students (including veterinary students) to borrow up to the full cost of attendance, minus other financial aid received. These loans required a credit check but did not have the same borrowing caps as Direct Unsubsidized Loans.
However, due to the One Big Beautiful Bill Act (OBBBA) signed into law in July 2025, the Federal Graduate PLUS Loan program is being discontinued for new borrowers effective July 1, 2026. As of that date, veterinary students will be limited to $50,000 per year in Direct Unsubsidized Loans, with a $200,000 aggregate cap.
If you are currently enrolled in vet school and borrowed a Grad PLUS loan before July 1, 2026, you may still be able to access these loans for up to three additional years or until your program ends — whichever comes first. Speak with your financial aid office to understand how these recent changes may affect your borrowing strategy.
7. Private Student Loans
Private student loans are offered by banks, credit unions, and online lenders. Some lenders even offer specialized loans for graduate school, including veterinary school loans.
Private student loans typically require a credit check and may necessitate a cosigner for students with limited credit history. Interest rates, which can be fixed or variable, are determined by the borrower’s creditworthiness. Unlike federal options, private loans lack income-driven repayment and federal forgiveness programs. For that reason, they are usually best considered after exhausting all your federal student loan options.
When comparing student loan offers, you’ll want to carefully evaluate interest rates (fixed vs. variable), repayment terms, deferment and forbearance policies, and cosigner release options.
Recommended: How Private Student Loans Work
Creating a Vet School Financing Strategy
Paying for veterinary school isn’t just about finding money — it’s also about building a sustainable plan that balances education costs with your future earning potential. These strategies can help you manage your vet school financing.
Exhaust Free Aid First
It’s a good idea to tap any and all sources of “free money” (grants, scholarships, and fellowships) first, as these do not need to be repaid and can significantly reduce the need for loans. Be sure to complete the FAFSA annually and monitor scholarships databases throughout your program — not just your first year.
Compare Federal vs Private Loan Benefits
Federal student loans generally offer:
• Income-driven repayment
• Deferment and forbearance protections
• Potential loan forgiveness options
Private lenders may offer competitive interest rates on student loans for highly qualified borrowers but lack federal safety nets.
For students considering public service roles — such as working in nonprofit clinics or government agencies — federal loan programs may offer long-term advantages.
Consider Future Income and Debt
Before taking out student loans, it’s a good idea to estimate your:
• Total projected debt at graduation
• Expected starting salary
• Monthly loan payments under various repayment plans
You generally want to avoid borrowing the maximum amount available if you don’t need it. Living modestly during school can significantly reduce your financial stress later.
Explore Vet Loan Forgiveness Programs
Veterinarians who go on to work for government agencies, universities, or certain non-profit veterinary clinics may qualify for Public Service Loan Forgiveness (PSLF), which forgives the remaining balance on federal Direct Loans after you make 120 qualifying monthly payments.
In addition, the USDA Veterinary Medicine Loan Repayment Program (VMLRP) helps pay down student debt for veterinarians who agree to work in designated shortage situations for at least three years. For qualified applicants, the program may repay up to $40,000 in student per year.
Many states operate their own, separate loan repayment or forgiveness programs tailored to local needs, often in conjunction with federal efforts to support rural, agricultural, or underserved areas.
How Much Can Veterinarians Make?
Veterinary salaries vary by location, experience, specialty, and practice type. According to the AVMA, the average annual income of a DVM graduate in the U.S. is around $154,000.
According to the AVMA’s 2025 Graduating Senior Survey, the average full-time starting salary for new veterinary graduates was $129,000. However, starting salaries vary significantly by specialty. Here’s a breakdown:
| Veterinary Specialty | Average Starting Salary (2025) |
| Companion animal practice | $140,000 |
| Mixed practice | $112,000 |
| Equine practice | $95,000 |
| Food animal practice | $100,000 |
The Takeaway
Becoming a DVM is a major investment, but the price tag doesn’t have to be a roadblock. To keep debt manageable, opt for an affordable program, prioritize “free money” (like scholarships, grants, and fellowships), and carefully compare federal student loans with private loan options. Finally, look ahead to relief: Programs like the Veterinary Medicine Loan Repayment Program (VMLRP) and Public Service Loan Forgiveness (PSLF) are available to help manage debt after graduation for those serving in high-need or public sectors.
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
Can you get scholarships for vet school?
Yes, you absolutely can get scholarships for vet school. These can come from several sources, including professional organizations like the American Veterinary Medical Foundation (AVMF) and the American Association of Veterinary College (AAMC). Individual colleges of veterinary medicine also offer institutional scholarships, sometimes automatically based on your application. In addition, some private foundations, local businesses, and kennel clubs offer vet school scholarships. Always check with your school’s financial aid office and use scholarship search tools.
Can FAFSA be used for vet school?
Yes, the Free Application for Federal Student Aid (FAFSA®) can be used for vet school. Completing the FAFSA is the essential first step to access federal, state, and institutional financial aid, including grants, work-study funds, and low-interest loans. You’ll want to complete the FAFSA annually for the years you plan to attend vet school.
How much can veterinarians expect to make?
According to the American Association of Veterinary Medical Colleges (AAVMC), the average annual income for a Doctor of Veterinary Medicine (DVM) in the U.S. is approximately $154,000. For the class of 2025, the average full-time starting salary was $129,000. These figures vary significantly by specialty; for instance, new practitioners in companion animal medicine averaged $140,000, whereas those entering equine practice started at approximately $95,000.
Are veterinary students eligible for loan forgiveness programs?
Yes, veterinary students are eligible for several loan forgiveness and repayment programs. The Public Service Loan Forgiveness (PSLF) program can forgive the remaining balance on federal Direct Loans after 120 qualifying payments for vets working for eligible government or non-profit employers. In addition, the USDA Veterinary Medicine Loan Repayment Program (VMLRP) offers up to $40,000 per year in student loan repayment for veterinarians who commit to working in designated veterinary shortage areas for at least three years. Many states also offer their own loan repayment programs.
Should you use private student loans for vet school?
While federal loans should typically be exhausted first, private student loans can be a useful tool to cover any remaining gap between the cost of attendance and other financial aid received (including scholarships, grants, and federal loans like Direct Unsubsidized Loans). Private loans for vet school typically require a credit check, and you may need a cosigner. Since they lack federal protections like income-driven repayment and forbearance programs, carefully compare rates, terms, and lender policies before borrowing.
About the author
Julia Califano
Julia Califano is an award-winning journalist who covers banking, small business, personal loans, student loans, and other money issues for SoFi. She has over 20 years of experience writing about personal finance and lifestyle topics. Read full bio.
Photo credit: iStock/herraez
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