Grad school financial planning with my daughter

[DooleyVT]

Well, she doesn't necessarily have to be a general practitioner. She could specialize in any number of ways, or she could work the pharmaceutical side. Specializing would require more training, time, and wouldn't be able to have the extra income to pay loans back faster. However, long term, would mean higher income.

If she's dead set on being a veterinarian, this is what she needs to do on her applications, as the profession and school, is mostly female: she needs to say that she's highly interested in large animal medicine, particularly in the food production aspect. She needs to make herself stand out and show that she's focused in the area that truly needs more veterinarians.

For instance, I had a 3.4 GPA leaving Clemson, but made straight A's my last 3 semesters (football freshman year goofed me bad). Marketed myself as having interest in all aspects, but predominantly poultry and mixed animal practice. Got the poultry bug out of me real quick, though that's another way to make a killing and not have to deal with high demand clients other than heads of Purdue, Tyson, etc.

I applied to 7 schools (Kansas State, Iowa State, Mississippi State, LSU, Auburn, NC State, and UGA). Only got into one and that's the one I could get in state tuition for.

I would imagine with the state of Vermont not having a vet school, they have contract seats with surrounding states that do. I would imagine Cornell in NY and Tufts in MA.

I would personally avoid the Island schools as well as the Lincoln Memorial, Arkansas State, Clemson and a handful of others, as they don't have 2 years of books and 2 years of clinicals. But that's just my 2 cents.

She has roughly 10 schools she’s applying to. Cornell and Tufts were on the top of her list as well as Arkansas. I had mentioned the pharmaceutical side to her yesterday but she didn’t look up from her computer. Really appreciate all of the info.

 

[arrow179]

She has roughly 10 schools she’s applying to. Cornell and Tufts were on the top of her list as well as Arkansas. I had mentioned the pharmaceutical side to her yesterday but she didn’t look up from her computer. Really appreciate all of the info.

According to a Google search no vet schools have a contract with Vermont for contract seats but I would do some additional digging.

 

[arrow179]

No TA positions in Vet school? Grad school was free for me, but it was mechanical engineering and I worked a few hours a week.

Not an option for vet med degree. This is not a grad degree but a doctoral degree FYI

 

[Bigred323]

She has talked about wanting to be a veterinarian since she was 10 years old so I sometimes feel bad trying to discourage her from that kind of passion but she has already struggled with criticism from managers, doctors she’s worked with and pet owners. The thin skin will likely become an issue for her. I’ve tried to convince her to get into human health care but she has zero interest unfortunately and her best friend is an RN who tries to drag her over to the human side too but no luck yet.

If she’s set on it, she’s set on it and I hope she gets in and makes a great career out of it. One of the beauties of vet med is the endless opportunities you can pursue whether it be general practice, speciality, government, military, research, industry, wildlife, etc. The pay varies drastically between the various avenues. As in any job, some people are ok with the lower pay in certain job roles because they’ve reached their life long dream.

If she plays her cards right, the job can absolutely be great and financially rewarding. I would not trade my current situation for anything as I’ve got a 4 day work week every week, no weekends, no on call, and make very good money. I could make more, but I value home and family time more than any paycheck and still have time and money to pursue some fun hunting trips. I haven’t been out of school too long compared to some but I made some really good decisions early out the gate to get me into the spot I’m at today.

One of our problems in vet med and the mental health problem is that the career attracts truly caring perfectionists. You don’t just get in to vet school by accident so when you’ve gone your entire life never really failing at much and then things start dying on you, miss a diagnosis by mistake, and/or people start bashing you, a lot of vets really can’t handle the thought and act of “failure”.

I also came into vet med from a very different path though. I worked as a paramedic and volunteer FF all through undergrad and even through vet school so I’m lucky that’s there’s not much any client can call me that a crackhead hasn’t already called me while fighting in the back of an ambulance

 

[Rich M]

I never even thought about her becoming a resident of that state before attending school there. She should know by January or February if she is accepted into any programs which would give her a little lead time to relocate. Good stuff so far!

That seems like the best route - maybe she could intern while gaining residency in a state.

I just googled it and says 1 yr to qualify for in state tuition. 6 months for instate taxes.

 

[mjh]

Getting a lot of good info to sort and think through. Make sure that your daughters school debt does not become your debt. I would not cosign any loans.

Had the grad school conversation with our son during his last visit home. He will graduate with a undergraduate degree with no debt. We had a 529 (will be zeroed out for last semester this fall), money from grandma (might be some left in that account), mom & dad's money, scholarship money, money and work credit he earned via summer jobs, jobs on campus, and a school work program he was part of.

I suggested to him that he needs to figure out how HE is going to pay for grad school. Mom and dad are able and happy to help him get set up, pay deposits on rent, help with vehicle expenses but the actual payments to the program I think he should cover himself. He is looking at multiple programs. A few would allow him to live at home an commute to classes. I don't think he knows what monies might be available from various other sources. An area he needs to research.

As parents we want to help where we can but we also want our son to be as financially independent as possible. There's a process and learning to all that. He's had good summer jobs and work opportunities in his area of interest and field of study. He's pretty level headed and making mostly good choices for a 21 year old.

But also as parents and adults we need to look out for our retirement and savings as well. We'll help and assist where we can.

 

[Mike Islander]

Not an option for vet med degree. This is not a grad degree but a doctoral degree FYI

PhD is a doctoral degree. ;-)

But I get what you are saying. It's a lucrative business for schools.

 

[ThorM465]

Talk her out of it! You're asking a bunch of men who are for the most part giving sound advice based on what worked best for them. However, we are not the same and a man's path is not the best path for a woman. America doesn't need more young healthy women in indentured servitude. Make no mistake that is exactly what 6 figure student loan debt is and she'll be in half a million in debt. She has a very limited amount of time to get married and have children. She has 40+ years to get another degree. If you're not running these numbers in the aforementioned sit down, you're doing her a disservice.
I have an 8 week old little girl and this would be my advice to her. I don't want her spending her best years for raising kids in grad school or fighting her way out of debt. In 40 years that vet degree will be nice. The kids she has or doesn't have will be everything.