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New veterinary graduates express stress and confusion regarding student loan management and hesitate to recommend the profession

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  • Chavent, Ann
  • Bartels, Anthony
  • Pion, Paul D.
  • Rishniw, Mark

Abstract

OBJECTIVE: To assess financial attitudes, priorities, behaviors, and student loan repayment plans of newly graduated veterinarians, with a focus on well-being. SAMPLES: 235 newly graduated veterinarians from the 2021 class. METHODS: Participants completed a survey to assess their attitudes towards personal finance, perceived importance of various components of financial well-being, self-reported personal finance proficiency and behaviors, student loan repayment priorities and intended strategy, and likelihood to recommend the profession to peers. RESULTS AND RELEVANCE: Participants identified educational debt as a large source of stress and highly prioritized effective management of their student loans. Participants reported feeling neutral regarding confidence in their intended student loan repayment plans. Over 60% had not sought a financial counselor, most often because they did not know who to trust. There was a disconnect between participants’ repayment intentions and their financial situations. These findings and the associated stress and anxiety might help explain participants’ negative attitudes for recommending the veterinary profession.

Suggested Citation

  • Chavent, Ann & Bartels, Anthony & Pion, Paul D. & Rishniw, Mark, 2024. "New veterinary graduates express stress and confusion regarding student loan management and hesitate to recommend the profession," EdArXiv 6yvsz, Center for Open Science.
    • Handle: RePEc:osf:edarxi:6yvsz
    DOI: 10.31219/osf.io/6yvsz
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