The debt-to-income ratio is high in many professions, but is particularly high in veterinary medicine. It currently stands at about 2:1, representing debt at twice the starting income. According to the 2016 Report on the Market for Veterinary Education by the Association of American Veterinary Medical Colleges (AAVMC) and the AVMA, the mean full-time starting salary accepted before graduation in 2015 was $70,117. However, the total median educational debt for veterinary graduates that same year was slightly more than $156,000.
The SCAVMA Committee for Educational Debt at the Virginia Maryland College of Veterinary Medicine is working to host a series of live lunch webinar presentations to be held March 27-31, 2017. This weeklong event will address several of the key outcomes of the first Fix the Debt Summit held last year and will cover topics ranging from financial literacy and loan repayment to career awareness and professional competencies. The event will be a broadcasted live to all veterinary schools across the country and also saved on an internet database for veterinary students to access at any time. The goal of this will be to educate and empower veterinary students all across the country to come together to find solutions and start taking actions to alleviate the debt to income disparity. We also hope to create a sustainable and thriving veterinary profession for the future. Further details regarding the speakers and topics will follow in the March SAVMA newsletter