Free at last! How I finally paid off my student loansAugust 9, 2021Student loans can put new graduates in debt for decades. Maintaining your payments, spending less than you earn, and making wise investments can make the process less painful.
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Debt relief, closed wage gaps needed to maintain growing professionNovember 17, 2020While the overall demand for veterinary professionals is high, student debt disparity and significant wage gaps remain an industry-wide concern.
VPN Plus+ ExclusiveLighten the financial load—Why debt consolidation may be the answerOctober 20, 2020Debt is a burden many veterinarians carry. The average 2019 graduate owes roughly $150,000 in educational debt, according to the American Veterinary Medical Association (AVMA). Veterinary professionals also often juggle credit card, loan, and real estate debt from multiple creditors and lenders throughout their careers. The amount of debt you carry can affect everything from your credit score and borrowing power to your bank account and mental health. While some borrowers sought deferment or forbearance on payments due to the pandemic, this only provides temporary relief. A longer-lasting solution is needed to truly gain more control of your financial situation. If your obligations have you feeling overwhelmed, consolidation may be the answer for you. Debt consolidation is when you use one loan to pay off your other debts in full. Benefits of this include: simplifying and taking control of your finances, improving your credit profile, and providing easier management of your money. Examining what you owe It's nearly impossible to run a veterinary business without taking on some level of debt. As owners open new lines of credit and take out loans to help cover their costs, it's easy to lose sight of the cumulative amount owed, which can be …
Is more debt good for your financial future?July 28, 2020If you're hoping to buy or expand a practice, you may think your educational debt means you won't be able to get a business loan. Even if you could get funded, the very idea of adding a few hundred thousand dollars in debt may give you what is commonly, if not medically, described as the heebie-jeebies. It's time to change your thinking. Not only are you likely to be overwhelmed with lenders happy to do business with you, but owning a profitable practice is also one of the best ways to pay down your student loans in less time. That will leave you able to do things you'd like better than servicing personal debt. Think buying a home, saving for retirement or your kids' college fund, or going on real vacations. "Being in business for yourself and growing that business makes sense," says Greg O'Brien. He and his wife, Emily, own O'Brien Veterinary Group in the greater Chicago area. "Getting your mind set to do that can be challenging, even for a group of people as intelligent as veterinarians. Often, the first thing so many veterinarians need to do is examine and reprogram their relationship with money." Understanding the number …
Getting out from under debtFebruary 13, 2020These days, it’s difficult to find a colleague who does not have debt. Sure there is “good debt” and “bad debt,” but how do you get it all paid off?
New video contest helps veterinarians and students pay off debtJanuary 25, 2019Both veterinary students and licensed veterinarians are now eligible to enter a contest to help alleviate their student loans or tuition.
Southern Veterinary Partners creates new award to help students with debtJanuary 18, 2019A new award has been set up to help students deal with debt and create employment opportunities for the future.
Southern Veterinary Partners awards scholarships to three LMU studentsDecember 19, 2018Three students from the Lincoln Memorial University College of Veterinary Medicine (LMU-CVM) have been granted $25,000 awards directed toward their tuition.
How do top practices increase profitability?October 19, 2017Veterinarians have a bleak outlook of their current state of financial affairs and of their future prospects, according to a 2013 landmark study* that presented financial health data of practitioners at different ages and phases of their careers.
VIN Foundation launches student debt centerFebruary 16, 2017The VIN Foundation, part of the Veterinary Information Network (VIN), has announced a new tool for vet students: The Student Debt Center. The center is a resource for all things related to high costs of veterinary school, according to VIN Foundation.
