Hi everyone! Does anyone have any insight into school debt? I’m looking to start applying to veterinary schools next year or so, and the price tag for the one I’m looking at is a cumulative of ~$350k for the 4-year program (I know, insane). My starting salary will likely be around $90k. How do people handle student debt like this? It just seems insane to me!

Honestly, and this is probably not the answer you’re looking for, I’m not paying my student loans back lol right now things are not at a point economically where that is a priority for me. But, usually student loans are debt people pay for the rest of their lives.

No I’m looking for all perspectives and experiences! I guess I don’t really know much about paying back student loans as I have scholarships for my undergrad degree. I’m not saying I will do this lol but what happens if you don’t pay them for periods of time? Does your credit score take a hit or?

I pay $35 on my student loan of $34,000 and next year I’ll pay $0 because of my repayment plan. I guess I’ll be paying it forever.

@Lemongrass_ mine is in the high 700’s. The way I see it is a little different. I don’t ever plan to buy a house, I have 3 payments left on my car and I don’t plan on financing another one until my car completely dies, and my credit score is high enough currently where any credit line I do apply for is approved. For me, paying them back just isn’t a priority and it’s my little method of anarchy lol

I’m not paying mine tbh unless I won the lottery or something 😂

I have other finances that are priority, and I don’t want to make monthly payments only to owe more as the years go on because of the ridiculous interest rates 😐

Thank you everyone for sharing!! I know it’s quite a personal topic. I am just absolutely overwhelmed thinking about it because as you said, @xoxoaeb22, the interest rates are insane. If I did a 25 year payment plan, I would end up paying approximately $950k versus the ~$350k that vet school actually costs.

Wait you can just not pay your loans ??

@Lizzie3456 yea! If you enroll in a $0 payment plan!!

@Karmen98x are those the income driven repayment plans?

@Lemongrass_ yes! I’m currently enrolled in a $35 IDR but $0 was an option for me and I didn’t pick it 😭

Do you have to reapply every year? I’ve been trying to do research on it but nothing is super clear cut. Like does it change every year based on what you submit as this year’s salary?

@Lemongrass_ I had to submit a W2 so they could see my income and I do it every year.

Thank you so much for sharing your experience! That makes a lot of sense

I’m glad I could help!!