School of Veterinary Medicine

Loan Repayment and Forgiveness Programs


Public Service Loan Forgiveness (PSLF) Program

The Public Service Loan Forgiveness (PSLF) Program is a federal program that forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.


Veterinary Medicine Loan Repayment Program (VMLRP)

The VMLRP will pay up to $25,000 each year towards qualified educational loans of eligible veterinarians who agree to serve in a NIFA-designated veterinarian shortage situation for a period of three years.


Vermont Food Animal Veterinarian Educational Loan Repayment Program (VFAVELRP)

Since 2011, the Vermont legislature has allocated $30,000 annually to the Vermont Food Animal Veterinary Education Loan Repayment Program (VFAVELRP) to support repayment of veterinary student loans of food animal veterinarians willing to practice in underserved areas of Vermont. Applicants do not have to be members of the VVMA.


Banfield Veterinary Student Debt Relief Program

The new Banfield Veterinary Student Debt Relief Pilot Program for eligible doctors will include three main elements:

  1. A low-interest refinancing option with supplementary .25% interest-rate reduction from a third party financial institution
  2. A monthly student-loan contribution of $150 paid by Banfield directly on qualifying student loans
  3. A one-time $2,500 payment for each qualifying Banfield student program in which the doctor participates prior to graduating


Army Specialty Pay

As a veterinarian, you could qualify for $2,000 to $5,000 annually through the Diplomate Board Certified Pay (DBCP). You must have a Diplomate award in a specialty recognized by the American Veterinary Medical Association.


Additional State Programs

A number of states have passed legislation establishing their own loan repayment or loan forgiveness programs for veterinarians.

The AVMA provides a summary of state laws addressing state veterinary loan programs. Note that even in states where legislation was enacted to establish these programs, funding needs to be appropriated. Please contact  the specific programs to find out if they are currently funded and operational.


Contact Us