PSLF and VMLRP questions!! Need some help! (Loan Forgiveness)
Sorry for the long post! Considering vet school again. Im not fully comfortable with having 400k-500k in student loans though. Unfortunately I would have to solely rely on loans to live, if I go to vet school.
Does anyone have experience with VMLRP?? (Veterinary Medicine Loan Repayment Program) Or PSLF (Public Service Loan Forgiveness)? Is it okay to bank on the fact that I could get into one of those programs? I would be more willing to take on so much debt if I knew I could get some of it forgiven.
I think it's 10 years for PSLF and it forgives all after 120 IDR payments (I think). Is it worth it? Is it hard to get approved? What is considered public service, just government and nonprofit? Would it be terrible corporate work.?? Is it hard to find a qualifying programs to work for? Do veterinary jobs in the public and nonprofit sectors pay okay? I would LOVE to do nonprofit, but are there many that offer the loan forgiveness?
Only direct loans from the government can be forgiven through PSLF. Is it possible to get enough federal loans to attend vet school without taking out private loans?
And for VMLRP, how much do they actually forgive? I know there's a ton of shortages around. Id be willing to do just about anything, if it meant not having so much debt. My long term goal is to have my own practice. I have a degree in business already so that's helpful. I still would have the 8 years of schooling to do and prices are only going to keep raising...
I can try for my in-state school but there's only one, I'm not confident I'd get accepted. Im open to moving abroad and going to an AVMA, if I'd get in. Do you have to take out private loans to go to school abroad or do you still qualify for federal loans? I am trying to learn more about that whole process as well.
What are the pros and cons of these programs. Are there other students loan forgiveness programs out there that I should know about.? Thanks in advance for taking the time to read this. I'm having a mild panic attack and have 1 month to decide if I'm starting this process.