of the Veterinary Debt Initiative is for veterinarians to thrive in rewarding and financially sustainable careers.
of the Veterinary Debt Initiative is to educate, advocate and provide leadership to ensure veterinarians can pursue a lifetime of financial success in a personally and professionally rewarding career.
The STRATEGIC PLAN
is to raise awareness and provide access to resources that will enable Pre-Veterinary students, veterinary students and veterinarians to make highly informed financial decisions.
AAVMC CEO Shares Perspective on Educational Debt
Educational debt in the United States now exceeds $1.5 trillion. Many experts believe this level of debt represents a substantial threat to future economic wellbeing. This debt-load is the result of decades of rising tuition costs that have occurred across the spectrum of higher education and professional school, and it has certainly affected academic veterinary medicine. Read more.
Veterinary Debt Initiative Q&A:
Dumb Friends League Launches Innovative Student Loan Repayment Program to Hire and Retain Talent While Upholding Core Values
The Veterinary Debt Initiative has developed a multi-year strategic plan that encompasses the identification of initiative priorities and the objectives that support them. Key action to accomplish the objectives have been mapped out in a timeline. View the Veterinary Debt Initiative Strategic Plan 2018-2021 in a charted format here.
Check out previous articles that have caught the Veterinary Debt Initiative's Attention!
VETERINARY DEBT INITIATIVE ROUNDUP
November 1, 2019
Led by the American Veterinary Medical Association, the Association of American Veterinary Medical Colleges and the Veterinary Medical Association Executives, the Veterinary Debt Initiative (VDI) is focused on helping veterinarians thrive in financially sustainable and rewarding careers. The VDI’s primary purpose is to raise awareness and provide access to resources that enable pre-veterinary students, veterinary students and veterinarians to make highly informed financial decisions. We want to bring your attention to these important resources and happenings:
AVMA Economic Summit Tied to VDI Strategy
The AVMA Economic Summit
held Oct. 22-23 in Schaumburg, showcased the current research and insights regarding issues impacting the economic sustainability of the veterinary profession. The AVMA veterinary economics team, professionals from various allied groups, educational leaders and industry executives covered a wide range of topics including educational debt and behavioral economics. “The analysis presented at the summit integrates with the overall research and metrics strategy of the Veterinary Debt Initiative,” said Dr. David Granstrom, Assistant Executive Vice President of the American Veterinary Medical Association (AVMA), a Veterinary Debt Initiative co-lead organization. “By exploring the implications of behavioral economics on financial decision-making by veterinary students, new graduates and early career veterinarians, we can better understand their challenges and needs and help develop solutions to the educational debt crisis.” The AVMA works closely with the Association of American Veterinary Medical Colleges and the Veterinary Medical Association Executives to lead the Veterinary Debt Initiative.
Educational Debt is a Hot Topic at the AVMA Economic Summit
Dr. Bridgette Bain, Associate Director of Analytics at the American Veterinary Medical Association, presented “Supply and Demand in the Market for Veterinary Education” at the AVMA Economic Summit held Oct. 22-23 in Schaumburg. Dr. Bain provided a comprehensive picture of the market and concluded with these key takeaways:
• The market for new veterinarians is robust. Salaries and the number of full-time employees are increasing.
• Many schools have experienced a year-over-year decrease in debt levels. What can schools with increasing debt levels learn from those with decreasing debt levels?
• The gender income gap has decreased from 4% in 2018 to 3% in 2019.
• How can students who borrow above the total cost be encouraged to minimize their loans?
• Participation from international institutions would allow a better understanding of their challenges and needs.
The AVMA partners with the Association of American Veterinary Medical Colleges and the Veterinary Medical Association Executives to lead the Veterinary Debt Initiative.
to see the entire November issue.
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