Key Points
- Students looking for veterinary school loans have two options in 2026: Federal Direct Loans and private student loans.
- New caps on federal student loans may lead more vet school students to private loans.
- Private student loans can be a good choice for highly qualified borrowers.
Most veterinary school students end up borrowing student loans to pay for their education. According to the American Association of Veterinary Medical Colleges (AAVMC), the average vet school student ends up with about $189,000 in student loans.
The trouble with veterinary school (and graduate school in general) is there are not a lot of "financial aid" options available beyond student loans. Before you dive into vet school student loans, make sure you do understand your options - both how you're going to pay for vet school and what aid may be available.
Also, make sure you understand how much money you can earn after graduation. For many, veterinary medicine is a labor of love - but you still need to live! You don't want to be strugglign financially for 20+ years.
If you already know most of your options and are simply looking to find the best private student loans, check out Credible and compare your options in 2 minutes with no credit check. Try Credible here.
Let's dive in.
The Order Of Operation To Pay For Vet School
There is a smart order of operations on how to pay for vet school, and it doesn't start with student loans. Before you ever embark on an veterinary medicine program, you need to consider the ROI (return on investment) of your education.
The goal of an advanced degree should be to move your career (and earnings potential) forward.
In that case, you need to asses how much you'd potentially pay out of pocket (hopefully next to nothing) given your salary.
When it comes to calculating the ROI of going to college, it's all about how much you're going to spend, and how much debt you're going to take on. Follow this chart from best to worst to get an idea of how to pay for your graduate school program.
Scholarships and Grants
Direct Student Loans
Private Student Loans
It's always important to analyze what you need for your own situation. But we suggest starting your research by going through different scholarships and grants which might be available through your state or college directly.
Scholarships and Grants
The first place to start when paying for graduate school is scholarships and grants to pay for college. Scholarships and grants work a little different on the graduate level.
There are no Pell grants or other federal student aid. You have to search for them. For veterinary medicine, it's even trickier.
Here's a list of vet school scholarships from the American Veterinary Medical Foundation that can help with your search.
If you don't know where to start, talk to your graduate admissions counselor and your school to see what might be available.
Best Student Loans For Vet School
Once you get to looking at student loans, there's another order of operations to follow. You should start with Direct Student Loans, then consider private loans.
Graduate Direct Student Loans
Graduate direct student loans are the "best" federal student loans a graduate borrower is going to get. To get a federal student loan, you need to apply for the FAFSA, which is the Free Application For Federal Student Aid. Once you complete the application, your school's financial aid office will let you know about your Federal student loan options.
Vet school students can borrow up to $50,000 per year, and $200,000 in aggregate. Vet school is considered professional school as part of the new OBBBA loan limits.
Interest will accrue on these loans while you're in school and you'll have to start making payments 6 months after graduation (or you leave school). That’s why after years of advising students and families on which loan is best for them, if you have questions while doing research, you can reach out to The College Investor if you want to get specific advice or read my guide on how to find the best student loans.
The great thing about federal loans is that they offer a wide range of benefits: income-driven repayment and loan forgiveness. Loan forgiveness for public service can be especially helpful if you work for the local, state, or federal government.
Private Graduate Student Loans
Some vet school students cannot solely rely on federal loans to pay for the cost of college. Either they exhaust federal loan limits due to their school’s cost, they need more funds to cover living expenses while attending school, or they need more time to complete their education (which increases cost).
Others may find more value in taking on private loans given their excellent credit and ability to repay. In this case, private student loans may be a cheaper alternative due to low interest rates and excellent borrower programs.
We recommend borrowers shop and compare the best private student loans. We love Credible for a few reasons. They allow you to see your options in minutes with no credit check. The compare most of the major lenders. And they make the process of getting a private loan super easy.
Here are three other options to consider:
Ascent Veterinary School Student Loans
Ascent Student Loans is a solid choice as a private lender - as they offer great graduate student loans. They also offer a solid loan amount range from $2,001 - $400,000*, competitive rates, and easy repayment terms.
They offer loans starting at just $2,001* minimum, and they offer 48 month loan deferment while in school, and a grade period to postpone full principal and interest payments up to 36-months after graduation, up to 9-months after leaving the program, or otherwise dropping to less-than-half-time enrollment.
Read our full Ascent Student Loans review here.
Ascent Student Loans | |
|---|---|
Product Name | Ascent Graduate Loan |
Min Loan Amount | $2,001 |
Max Loan Amount | $400,000 |
Variable APR | 3.60% -16.01% APR |
Fixed APR | 2.69% - 16.81% APR |
Loan Terms | 5, 7, 10, 12 15, or 20 years |
Promotions | None |
ELFI Vet School Loans
ELFI is one of the largest student loan originators, and as a result, they typically offer some of the lowest student loan rates available.
They offer extremely competitive rates, with standard loan terms and conditions. You can borrow from 5 to 15 years, and they can lend across the entire United States, including Puerto Rico.
For Veterinary students, the loan also includes a 9-month grace period, and up to 96 months of residency deferment. It also offers cosigner release.
Check our out full ELFI student loans review here.
ELFI Student Loans | |
|---|---|
Product Name | ELFI Grad School Loan |
Min Loan Amount | $1,000 |
Max Loan Amount | Up to 100% of the school-certified expenses |
Variable APR | 6.75% - 13.05% APR |
Fixed APR | 2.99% - 12.85% APR |
Loan Terms | 5, 10, or 15 years |
Promotions | None |
Sallie Mae Vet School Student Loans
Sallie Mae is probably one of the most well-known lenders on this list. They are the nation's largest private student loan lender by loan volume. As a result, they also offer some of the most competitive private veterinary medicine student loans out there.
You can take out Sallie Mae student loans starting at just $1,000 (which is one of the lowest) and can borrow up to the total cost of education². Sallie Mae has a variety of repayment plans to select from, they offer 48 months of deferment during your residency and fellowship⁴, and 12-months of interest-only payments after your grace period⁵.
Read our full Sallie Mae review here.
Sallie Mae Student Loans | |
|---|---|
Product Name | Sallie Mae Vet School Loan |
Min Loan Amount | $1,000 |
Max Loan Amount | Up to 100% of the school-certified expenses² |
Variable APR | 3.75% to 14.48% APR¹ |
Fixed APR | 2.29%-14.99% APR¹ |
Loan Terms | 10 or 15 years |
Promotions | None |
Final Thoughts
As you can see, there are several options to navigate when it comes to paying for vet school. And you don't need to totally rely on student loans (though it's likely you will).
In fact, many vet school students don't need much in private student loans since they can typically borrow under the federal loan limits.
Just make sure that you really understand the ROI on your education before you borrow too much.
FAQs
What credit score is needed for private vet school loans?
Each lender has different standards for private vet school loans. However, most private student loans will require a minimum credit score of 680. The best rates will be offered to borrowers with credit scores above 780.
Can I pay interest while in school to reduce debt?
Yes! If you pay interest on your vet school loans while in school, it will help lower the long term costs of the loan. However, we don't recommend it, especially if you're going to pursue loan forgiveness.
Are student loan payments tax-deductible?
The interest portion of your student loan payments are tax deductible via the student loan interest deduction.
Are there state based graduate loan programs?
Yes, several states offer graduate loans via their state-based non-profit lenders.
Ascent Student Loans
*Ascent's undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs.
Annual Percentage Rates (APRs) displayed are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.90% APR, with 57 payments of $49.17 while in-school/grace, 60 payments of $192.88 during the repayment term, and a total cost of $14,376.53.
* $25 Minimum Payment: 6.53% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $234.12 during the repayment term, and a total cost of $15,471.73.
* Deferred Repayment: 6.71% APR, with no payment while in-school/grace, 60 payments of $270.31 during the repayment term, and a total cost of $16,181.14.
* Immediate Repayment: 3.65% APR, with 60 payments of $182.6, and a total cost of $10,955.77.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.06% APR, with 57 payments of $133.75 while in-school/grace, 180 payments of $147.26 during the repayment term, and a total cost of $34,130.81.
* $25 Minimum Payment: 14.46% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $242.08 during the repayment term, and a total cost of $44,997.01.
* Deferred Repayment: 14.89% APR, with no payment while in-school/grace, 180 payments of $281.22 during the repayment term, and a total cost of $49,857.65.
* Immediate Repayment: 15.81% APR, with 180 payments of $145.54, and a total cost of $26,193.91.
Sallie Mae
¹Rates displayed are for graduate school student loans:
Lowest rates shown include the auto debit discount: Additional information regarding the auto debit discount: Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. *These rates will be effective 7/2/2026.
Terms:
Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.
² For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
⁴ To apply for this deferment, customers and an official from the internship, clerkship, fellowship, or residency program must complete and submit a deferment form to us for consideration. If approved, deferment periods are issued in up to 12-month increments. Customers can apply for and receive a maximum of four 12-month deferment periods. Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.
⁵ GRP allows interest-only payments for the initial 12-month period of repayment when the loan would normally begin requiring full principal and interest payments or during the 12-month period after GRP request is granted, whichever is later. At the time of GRP request, the loan must be current. The borrower may request GRP only during the six billing periods immediately preceding and the twelve billing periods immediately after the loan would normally begin requiring full principal and interest payments. GRP does not extend the loan term. If approved for GRP, the Current Amount Due that is required to be paid each month after the GRP ends will be higher than it otherwise would have been without GRP, and the total loan cost will increase.
Editor: Colin Graves
Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.
Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.
He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.