Refinancing your Veterinary School Loans

This article aims to explain Refinancing your Veterinary school loans.

Updated by Anuroop C on 28th February 2020

You have finished your veterinary school with flying colors, which is an amazing achievement. But now comes the actual deal as you have to deal with the outstanding dues from your veterinary school, which includes dealing with school loans. Veterinary school loans can be nerve-wracking. 

And to anybody who knows about veterinary school loans, refinancing their veterinary school loans makes no sense to them, as there are many forgiveness and loan repayment programs offered by different states to medical professionals. But the average student loan debt for a veterinary school is around $140,000.

So there should be strategic ways in which a veterinary student can deal with his school loan.

But before that let us consider when you may consider student loan refinancing:

Table of Contents

Top 5 Lenders for Refinancing your Veterinary Student Loans



Variable Rate

Minimum Credit Score

Figure Student Loan Refinance

3.25% to 6.75%

2.06% to 6.81%


Education Loan Finance Student Loan Refinancing

3.14% to 6.69%

2.39% to 6.01%


College Ave Student Loan Refinancing

4.54% to 11.98%

2.84% to 10.97%


Penfed Student Loan Refinance

3.48% to 6.03%

2.32% to 7.06%


PNC Student Loan Refinancing

4.39% to 6.59%

4.39% to 6.59%


Looking for student loans? Find the best student loans for you.

When to consider refinancing your Federal school loans?

Make sure that you consider all the options that are available for a medical professional. Medical professionals have a lot of options that the state and the federal repayment programs provide and forgiveness programs. You will also be giving up your Income-Driven repayment plans such as PAYE, REPAYE, and ICR, etc. But if you are earning well and want to get it off with your student loans, then refinancing is going to be a good option for you. Even if you do not want to associate with the repayment programs( as they require working under special conditions) and think you can pay off your student loan amount, then refinancing your student loans can be a good option for you. And if you do not plan to pursue the PSLF(Public Service Loan Forgiveness) program, then refinancing can be a good option for you.

You can also consider refinancing only your private student loans, in case you have both private and federal student loans(since the tuition fees of veterinary student loans are that much!). 

Conditions for refinancing your veterinary school loans

The conditions for you to be eligible for refinancing are the same as that for refinancing your student loans. They are:

Good credit score

You need to have a good credit score in order to refinance your veterinary school loans. A credit score usually around 700 is preferred for refinancing your student loans. You can read more about building your credit score. You can check out what credit scores are and your options if you have bad credit.

You can also read if refinancing your student loans affect your credit score.

Good Debt-to-Income ratio

A very good debt to income ratio is what your refinancing lender looks at when you are considering refinancing your student loans. Having a higher DTI ratio will increase the interest rate that the lender is going to allocate to you while refinancing your student loans.

Make sure that you owe only 1.5 times more than the amount you make annually. If you owe more than 2 times the amount you make, you usually have a very hard time finding a suitable lender. 

To conclude this topic, we recommend that you consider knowing all the options that are available for you and the options that you will be missing out on. Refinancing student loans can be of concern, so make sure that you know everything about Student loan refinancing and also research all the best companies to refinance your student loans. You refinance your student loans only to decrease your monthly payment amount or to decrease your total paying amount. So make sure that you are achieving all the goals when you are refinancing your veterinary student loans.