Reply to Do you think the costs of professional school (med, law, dental etc) are unsustainable?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]There will be a lot of inflation, and the inflation means the value of fixed-rate debt will be a lot lower than it looks today. [/quote]

NP and wow this is just horrible, stupid advice!

The OP already explained there is a debt to income ratio issue.  [/quote]

Veterinarians in rural areas already have a tough time getting veterinarians or vet techs in semirural areas. And we’re going through a huge wave of inflation that’s about to slash the real value of fixed-rate debt. This is a good time to load up on low-rate fixed-rate debt if you can invest the money in something sensible, like a great education for a great kid.

Regular people might skimp on care for pets, but agribusiness will still need vets to take care of livestock. So, this is a crash-resistant field. This isn’t about a kid borrowing a lot of money for an acting degree.

The OP’s family is worried about future debt load issues but has no apparent problems with debt today.

The daughter might have to stretch to pay for vet school but apparently can do it. Other kids may not have any way to pay for vet school or will refuse to take the gamble. So, the supply of new vets may well shrink.

Vet incomes are likely to rise sharply relative to debt payment levels.

If they don’t, plenty of other young adults will be facing the same issues, and the prices of the things they need will adjust.

And, what alternatives are more certain? Medicine is about the same or worse. Law is clearly worse. For a kid with no interest in business already, an MBA is worse. Data science or actuarial science could a good alternative, but not everyone can pass actuarial exams, and it sounds as if a fair number of data science people wash out.

Maybe being a nurse or a K-12 teacher would have the best risk-adjusted ROI, but not everyone can deal with those career paths.

So, the odds that the daughter could do fine as a vet are high, and the odds that she’d do better in another field are not that great.

It’s even possible that the daughter will get in-state tuition or enough merit aid to keep vet school costs low.

So, the daughter should take out the loans, take a deep breath, pray hard if she believes in prayer and do what she wants to do. If it doesn’t work out, she can figure something out then.

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