The tuition-debt crisis: Who is willing to change?July 22, 2019At the end of my career, it is perplexing to look back 60 years—with what passes for the wisdom of old age—to make comparisons with the contemporary scene. To be sure, during my lifetime the veterinary profession achieved major scientific and technological progress, and survived several episodes of political and economic uncertainty. Yet, who can say there may not be worse to come? In my view, the most serious threat to the long-term prosperity of the veterinary profession is the damage now being caused by out-of-control educational costs and student debt. We seem to have lost our moral compass. By the numbers Incurring a moderate amount of educational debt to achieve a professional degree is a worthy investment; however, veterinary education has become prohibitively expensive. According to the 2018-2019 Association of American Veterinary Medical Colleges' (AAVMC's) annual report,1 the national median tuition for in-state veterinary students is $31,900 and for out-of-state students it is $52,600. The mean veterinary educational debt is $174,000. With starting salaries averaging in the low $70s, the debt-to-income ratio is approximately 2.4:1 (double the 1.2:1 figure of just a decade ago). One hesitates to invoke the hyperbole of "crisis;" however, student debt is an enormous drag, …
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