6 Best Student Loans for Vet School of February 2023
Veterinary school students should opt for federal student loan benefits and protections when taking on debt.
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Roughly 83% of veterinarians in the class of 2018 took out student loans for vet school, according to the American Veterinary Medical Association. Those students graduated with an average debt of $183,014 for their doctor of veterinary medicine degree — more than twice the projected $76,633 starting salary for veterinarians.
To keep loan payments manageable, the majority of students should choose federal student loans for vet school rather than private loans. Opt for low-cost federal health professions student loans first, if you can qualify, then turn to unsubsidized direct loans and graduate PLUS loans.
Here are our picks for the best student loans for vet school, plus what you should know about each before borrowing.
Roughly 83% of veterinarians in the class of 2018 took out student loans for vet school, according to the American Veterinary Medical Association. Those students graduated with an average debt of $183,014 for their doctor of veterinary medicine degree — more than twice the projected $76,633 starting salary for veterinarians.
To keep loan payments manageable, the majority of students should choose federal student loans for vet school rather than private loans. Opt for low-cost federal health professions student loans first, if you can qualify, then turn to unsubsidized direct loans and graduate PLUS loans.
Here are our picks for the best student loans for vet school, plus what you should know about each before borrowing.
Best Student Loans for Vet School
Lender | NerdWallet rating | Min. credit score | Fixed APR | Variable APR | Learn more |
---|---|---|---|---|---|
![]() Federal Subsidized/Unsubsidized Loan | Best for Most borrowers as a first option | None | 4.99- | N/A | Read review |
![]() Federal Grad PLUS Loan | Best for Manageable payments after vet school | None | 7.54- | N/A | Read review |
College Ave Medical Student Loan Check rate on College Ave's website | Best for Borrowers with good credit | Mid- | 4.49- | 4.49- | Check rate on College Ave's website |
Ascent Graduate and Health Professions Student Loan Check rate on Ascent's website | Best for Borrowers with good credit | Varies | 5.62- | 6.75- | Check rate on Ascent's website |
![]() Sallie Mae Private Student Loan Check rate on Sallie Mae's website | Best for Borrowers with good credit | Mid- | 4.50- | 5.37- | Check rate on Sallie Mae's website |
![]() Brazos Private Student Loan Check rate on Brazos' website | Best for Borrowers from Texas | 680 | 2.83- | 4.54- | Check rate on Brazos' website |
Our pick for
Most borrowers as a first option
If you can’t qualify for a low-cost federal health professions student loan, federal direct unsubsidized loans should be your top choice for vet school.
Federal Subsidized/Unsubsidized Loan

Min. credit score
NoneFixed APR
4.99-Variable APR
N/AOur pick for
Manageable payments after vet school
Both unsubsidized federal student loans and graduate PLUS loans qualify for income-driven repayment plans that limit payments to as little as 10% of your discretionary income.
Federal Grad PLUS Loan

Min. credit score
NoneFixed APR
7.54-Variable APR
N/AOur pick for
Borrowers with good credit
Vet students who have good to excellent credit, or a co-signer that does, may pay less overall by borrowing a private student loan. While private loans may have better rates and lower fees than federal loans, they lack the same repayment options and protections.
on College Ave's website
College Ave Medical Student Loan
Min. credit score
Mid-Fixed APR
4.49-Variable APR
4.49-on College Ave's website
on Ascent's website
Ascent Graduate and Health Professions Student Loan
Min. credit score
VariesFixed APR
5.62-Variable APR
6.75-on Ascent's website

on Sallie Mae's website
Sallie Mae Private Student Loan

Min. credit score
Mid-Fixed APR
4.50-Variable APR
5.37-on Sallie Mae's website
Our pick for
Borrowers from Texas

on Brazos' website
Brazos Private Student Loan

Min. credit score
680Fixed APR
2.83-Variable APR
4.54-on Brazos' website
Types of student loans for vet school
You may be able to pay for vet school with multiple types of student loans:
Federal health professions student loans
Vet students may be able to take out Health Professional Student Loans and Loans for Disadvantaged Students. These loans are funded by the federal government, but not the Department of Education. That means they have some key differences — both good and bad — from federal direct and PLUS loans:
Lower costs. HPSL and LDS have fixed interest rates of 5% and no origination fees. Unsubsidized loans and PLUS loans have fees of roughly 1% and 4%, respectively. Health professions loans also don’t accrue interest while you’re in school.
Longer grace periods. Federal health professions student loans don’t enter repayment until 12 months after you graduate — that’s twice as long as other federal loans.
Limited availability and funding. HPSL and LDS are available only to students with financial need or from disadvantaged backgrounds at participating vet schools. The amount you’ll receive is up to your school’s discretion and available funding.
Fewer repayment options. Your school will determine your repayment term for these loans. Because HPSL and LDS don’t come from the Department of Education, they aren’t eligible for programs such as income-driven repayment and Public Service Loan Forgiveness. You can consolidate HPSL and LDS into the federal student loan program to access these benefits. This is different from private loans, which can’t be transferred to the federal program.
You can apply for HPSL and LDS by completing the Free Application for Federal Student Aid, or FAFSA. You will need to include your parents’ financial information on this form to qualify.
Federal unsubsidized and PLUS student loans
Veterinary students may be eligible for two types of federal student loans: unsubsidized direct loans and graduate PLUS loans.
Unsubsidized loans have lower interest rates and fees than PLUS loans, but also a smaller borrowing maximum for graduate students — $20,500 per year. Take that max in unsubsidized loans, then use PLUS loans to cover up to the rest of your cost of attendance.
You can apply for federal student loans by completing the Free Application for Federal Student Aid, or FAFSA. You don’t have to provide your parents’ financial information to receive these loans — and likely shouldn’t to ensure your expected family contribution is as low as possible.
Private student loans for vet school
You may be able to get a private loan for vet school with a lower interest rate and smaller fees than federal loans have, depending on your or a co-signer’s credit score and financial history.
Many private lenders offer specific student loans for health professionals, including those studying for a D.V.M., as well as loans available to all graduate students. You can use either to pay for veterinary school, so compare all your options to get the best deal possible.
Some states offer forgivable private loans, but you typically must commit to working in a shortage area to qualify. For example, Missouri provides $20,000 loans to eligible students who plan to practice large animal veterinary medicine in an area of need.
» MORE: How much is vet school?
Which student loan for vet school is right for you?
Most likely, federal student loans will be your best bet for vet school. When paying off vet school loans, many vets may need the income-driven repayment plans that only federal student loans offer.
Consider this: The average vet school debt of $183,014 would come with monthly payments of more than $2,100 on a standard, 10-year repayment plan, assuming current interest rates. Under the Revised Pay As You Earn income-driven plan, those payments could shrink to less than $500, based on the average vet salary of $76,633 for new grads. You would likely pay more overall on REPAYE’s 25-year repayment term, though.
If you’ll borrow less — perhaps much less — than your projected starting salary, you may pay less by qualifying for a lower interest rate with a private student loan. But federal loan protections better minimize your risk. If you don’t need those protections once you’re practicing, refinancing vet school loans with a private lender could lower your interest rate and save you money.
Last updated on December 19, 2022
To recap our selections...
NerdWallet's Best Student Loans for Vet School of February 2023
- Federal Subsidized/Unsubsidized Loan: Best for Most borrowers as a first option
- Federal Grad PLUS Loan: Best for Manageable payments after vet school
- College Ave Medical Student Loan: Best for Borrowers with good credit
- Ascent Graduate and Health Professions Student Loan: Best for Borrowers with good credit
- Sallie Mae Private Student Loan: Best for Borrowers with good credit
- Brazos Private Student Loan: Best for Borrowers from Texas