Introduction There has been speculation over the past several years that Doctors of Veterinary Medicine (DVM) graduates have been growing in number while veterinary job growth is not. This is an argument of supply and demand. Essentially the concern is with a larger workforce looking for a few jobs, wages cannot grow as rapidly. When considering this and looking at the consistent increase in costs of veterinary education new graduates are finding themselves with an almost unmanageable debt to income ratio. As with many college students, it is common for a veterinary student to accumulate student loan debt while at the same time foregoing earning a salary. This means that a veterinary student has decided to invest in achieving a higher degree …show more content…
Data All data was obtained from a research study conducted by the American Veterinary Medical Association (AVMA). This study surveyed fourth year veterinary students from 2001-2014. The information was obtained by survey and the surveys were self reported. This is the most extensive gathering of data on veterinary graduates to date. The interest variable is the total veterinary student loan debt and using the consumer price index, inflation is adjusted to 2010 US. The surveys totaled 29,753 from 2001 through 2014. The study then dropped 330 surveys due to missing or incomplete data making the final sample 29,423. Methods Over the study period the average student loan debt increased but not all students needed to borrow money for their education. Of the reporting sample, 14% of students acquired no debt during their education. The below figure shows the different distribution of values for loan debt. A two part hurdle model was used to account for zeros within the sample. This two part model considers positive values of the dependent variable as a participated observation. Non-participants are observations of …show more content…
Additionally male students were found to be less likely to borrow for their education (p=0.021). Students with a child were more likely to borrow for their education (p<0.001). Cost variations between universities were controlled which allows the evaluation of debt level between in-state and out-of-state students. The variable for in-state students was significant (p<0.001). In-state students were found to accumulate approximately 20.33% less debt on average than out-of-state students. There are additional factors that can be used to better explain the remaining variation. For example students who looked for work prior to graduating had approximately 3.6% more debt on average than those who did not look for a job (p=0.091). Additionally the data shows that the variables for employment, age, gender, and marital status were statistically significant (p<0.001). Males were found to accumulate 4.3% less debt than females on average. The reason for this statistic’s importance is that as of 2014, the female population of graduates was nearly 80%. Finally the data showed that married students are 7.1% more likely to graduate with less student debt than their single
According to the Occupational Outlook Handbook, it is expected that the job outlook for vet techs will increase much faster than other occupations: by 30 percent between the years of 2012 and 2022. This is because veterinary technologists are beginning to be preferred over basic veterinary assistance for tasks like lab work. [Also, better care and treatment for pets is being practiced by pet owners (Collegegrad.com).] Ve...
...hew , and Debbie Cochrane. "Student Debt and the Class of 2012." Institute For College Access and Success. December (2013 ): n. page. Web. 12 Dec. 2013.
For as long as I can remember, my childhood dream has always been wanting to become a veterinarian. While other kids were outside having fun at the playground, I was at the library reading books and learning about the different animals. However, as I matured, I realized that being a veterinarian isn’t just about caring for and assisting injured animals. Being a veterinarian means having the ability to make quick decisions in stressful situations, showing complete dedication and passion to this profession, and being able to effectively communicate to pet owners.
For the past decade, The United States has stressed the importance of college education, to those seeking employment, and better careers. For most people, college is the logical next step in education, as it provides a working knowledge of a desired field and opens the door to many opportunities, but college has become increasingly more expensive as time goes on. Many people feel that college is no longer an option financially. Even with financial aid and scholarships, the cost of a college education can still be very taxing. This is due to massive price increase across the boards, but the main issue on most people’s minds is the debt that will be acquired from higher education.
For anyone to become a veterinarian, one must have all the necessary requirements for both education and on the job training. During high school, science courses are highly recommended. After high school, one must obtain their doctor of veterinary medicine degree. To achieve this goal, Ferguson’s Career Guidance Center says one must “attend 4 years at college of veterinary medicine, complete 45-90 hours of undergraduate study, and must pass at least one examination in the state at in which they intend to practice” (3-4 2014). During a person’s schooling, Veterinarians are expected to make decent grades and to show an interest for learning the sciences as well as technology. Besides having the education, a person must also indulge in some training both on the job and in shadowing experiences. Most if not all training will be completed in veterinarian school and will allow the veterinarian to start working right away. “According to the 2006-07 edition of the U.S. Department of Labor’s Occupational Outlook Handbook, in 2004 annual sala...
Most people today accept the debt that comes from college. Students consider student loan debt as a “good debt.” They see other students make this mistake but follow their path anyway. Nearly 80% of college-bound students have not projected the total amount of money they will need to graduate college.
However, the problem of overborrowing seems to lie mainly with students who have the childhood fixation of attending their “dream school.” Common sense seems to dictate that if students do not wish to go into debt that they should not borrow as much in student loans. Meaning they should not borrow so much money in order to attend a school for the name. Yet, multiple economists have said that the biggest issue with student loan debt is not the act of borrowing, but rather the audacity to borrow whatever amount of money is necessary to attend their “dream school” throwing the moderation discussed earlier out the window.
Employment of veterinary assistants that work mainly in clinics is projected to grow 10% until 2022. High occupational turnover will result in good job opportunities. (Summary)
In that year, the number of college graduates was only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur, which is a problem we face today. As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements).
Through my experiences, I have learned the reality of veterinary medicine. It is not about playing with puppies and kittens. My clients might not appreciate me, my patients might be difficult, I may get frustrated, and I might not make much money. Yet veterinary medicine is about more than that. It is a career with purpose, a lifelong source of challenge, personal growth, fulfilled academic curiosity, and opportunities to impact lives, both human and animal. In return, I offer a strong scientific aptitude, along with a diverse background and natural empathy. It will not be easy, but a degree in veterinary medicine is, without a doubt, my next pivotal step in
Harford Community College has continuously challenged me and provided me with opportunities that have proved beneficial in my college career. While at HCC, I have gained research, field, lab, and presentation experience. With the experience I’ve acquired through Olney Farm, Harford Community College and Animal Emergency Hospital I am confident and excited to continue to pursue my dream of becoming a Doctor of Veterinary
The cost of college tuition continues to increase each year. If this keeps increasing the way it has been, students will be indebted the rest of their life. Author of “The Looming Student Loan Crisis”, Jackson Toby states that student loans have increased along with the increase of tuition costs. In 2004, the average unpaid student debt was approximately $18,650...
In an article written by Andrew Lehren, the author provides the bold statement that “the only thing worse than graduating with lots of debt is not going to college at all” (Lehren). In today 's society, many families lack the funds to provide a full ride for their children in terms of college. Due to this fact, many people turn to alternate solutions such as loans or diving straight into the workforce instead of attending college at all. These solutions, however, may greatly affect a person throughout the course of their life. The problem of college debt is increasing rates in regards to tuition, however, fortunately there are various solutions accessible in order to decrease or eliminate the debt that many american students face.
With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.
I’ve routinely seen estimates that two-thirds of students take out loans for college. The New York Times, however, conducted an analysis that concluded that 94% of students who earn a bachelor’s degree borrow. That’s up from just 45% in 1993.Only 7% of students at public colleges and universities graduate without borrowing while only 5% of grads at private schools can pull off this feat. The average debt is $23,300, but 10% of students borrow more than $54,000 and 3% borrow more than $100,000” (O'Shaughnessy 1). This number is increasingly high compared to what many people think. People do not realize how much money is actually borrowed in order to complete