Managing for Profit
Who will pay for veterinarians?
It’s a costly commitment to become a veterinarian. Today, a four year graduate degree in veterinary medicine can take 25 to 30 years to pay off which is causing less students to even consider applying. Will there be enough vets in the future?
The continued decline in applicants to veterinary schools is causing serious concern in the industry. Many point to the growing debt-to-income ratio for new veterinarians as a contributing factor.
“People certainly are looking at the cost of education, they’re looking on their investment once they become a veterinarian and many people are beginning to question, ‘Is veterinary medicine where I should be either sending my student or I should be going into myself?’”
Dr. Mike Chaddock with Michigan State University’s College of Veterinary Medicine tells Brownfield the current student debt situation is not sustainable and may lead to open seats in the college.
AUDIO: Dr. Mike Chaddock