Managing personal finances

Part of thriving in your career as a veterinarian is successfully managing your finances. Among other things, this means finding the right strategy to pay down debt, making and managing a budget, and planning for the future. From veterinary school through retirement, AVMA tools can help. Use them to plan for your future and stay on a road to financial health.

Managing money

From budgeting to goal setting to managing cash flow, these resources can help make money management simpler and less confusing, regardless whether you’re a new graduate or nearing retirement.

Personal financial planning tool

This AVMA-exclusive tool lets you build a personalized budget estimate so you can plan for the future while meeting your current needs. It walks you through the essential steps of budgeting—and lets you experiment with scenarios to see what will work best for you.

More financial planning resources

Find links to calculators that help you estimate cost of living, credit card scenarios, car ownership costs, retirement needs, and more.

Dealing with student debt

Student debt is a reality for veterinarians, and finding creative solutions to alleviate the veterinary debt load is a top priority for the AVMA. Both independently and in concert with other groups across the profession, the AVMA develops tools and advances public policies that help address veterinary debt.

Proposals to reshape the federal student loan landscape are under consideration in Washington, and the AVMA is working actively to help lawmakers understand the importance of educational loans to veterinarians and veterinary students.

Currently, online applications for the Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Income-Contingent Repayment (ICR) repayment plans are open, following a temporary pause. The online loan consolidation application also has been reposted. The Saving on a Valuable Education (SAVE) plan remains on hold, and borrowers enrolled in SAVE are in a general forbearance unless otherwise notified. Find more information about repayment options on AVMA’s My Veterinary Life website.

Loan forgiveness and repayment programs

Devoting part or all of your career to public service, nonprofit work, or rural practice can be a strategy to manage student debt.

Loan consolidation

The Federal Student Aid site shares pros and cons of loan consolidation, describes the application process, and lists factors to consider in deciding whether to consolidate.

Financial hardship and paying back student loans

There are many reasons why you might not be able to make payments on your student loans. Explore your options to avoid default.