Financing Your Education
In preparing for veterinary school, it is imperative to understand the cost of education and how financial aid options apply to your situation. For new DVM students matriculating in fall 2026 and beyond, understanding the financial implications of your DVM training is particularly important given recent changes in federal student loan policies that went into effect on July 1, 2026. The information below is collated to help you create a financial plan for veterinary school at Iowa State University College of Veterinary Medicine.
Cost of Attendance
Review tuition, fees, and estimated housing costs for Iowa State DVM students based on residency status. Note that for years 1-3, veterinary students enroll in fall and spring semesters. For year 4, students enroll in summer, fall, and spring semesters.
Financial Aid Options
Iowa State’s Office of Student Financial Aid is the best resource for learning about loan and financial aid options for your individual financial situation. Consider the following resources to learn more about loan options for veterinary students:
- Federal Student Loans: ISU Financial Aid has collated general information about federal loan options applicable to DVM students. You must complete the FAFSA to be eligible for federal student loans. NOTE: new borrowers (matriculation after July 1, 2026), annual and lifetime caps for Federal Direct Unsubsidized loans have changed ($50,000 annual/$200,000 lifetime), and Grad PLUS loans are no longer available.
- Private Loans: For students seeking private loans, ISU Financial Aid maintains a list of preferred private lenders that is curated for veterinary students and includes lenders who have programs specifically designed for health professions students
Financial Planning
Personalized Financial Aid Advising
The Office of Student Financial Aid offers individual advising for current and admitted DVM students. Please reference the contact below with questions or to schedule an appointment for personalized advising.
Madison Phelps
Financial Aid Advisor
Office of Student Financial Aid
0210 Beardshear Hall
vmfinancialaid@iastate.edu
515-294-2223
Scholarships
Iowa State University College of Veterinary Medicine awards more than $2 million in scholarships and awards annually to DVM students. For incoming students, the VMCAS application serves as a scholarship application and is used in determining eligibility and awarding scholarships. Additional scholarships are available annually throughout the DVM program and students submit a brief application each fall to be considered. Learn more about scholarship opportunities available for DVM students.
Loan Repayment Programs
There are a number of important loan repayment programs available for veterinarians depending on their career choices. The options below apply to federal student loans only.
- Graduates pursuing work with employers in federal or state government or non-profit organizations may be eligible for Public Service Loan Forgiveness.
- Graduates interested in rural large animal veterinary practice may be eligible for the federal Veterinary Medicine Loan Repayment Program (VMLRP).
- Graduates interested in rural large animal practice in the state of Iowa are also eligible for two additional loan repayment options:
Note: These programs (including VMLRP) are mutually exclusive; graduates may only participate in one of these programs.
Additional Resources
- The Department of Education provides a Loan Repayment Calculator that can help you estimate your future student loan repayments.
- The AVMA’s Your Financial Health provides financial information tailored for veterinary students, including loan repayment strategies and a Personal Financial Planning (PFP) tool.
- The VIN Foundation Student Debt Center provides financial planning tools such as in-school loan estimator, student loan repayment simulator and WikiDebt resource library. Access to VIN is free for veterinary students.
- The VIN Foundation also provides helpful information about Private vs. Federal Student Loans, which can be particularly helpful to students who will start borrowing after new federal loan changes take effect in July 2026.
- The Cornell Personal Finance Simulator allows you to see how a particular salary would translate to an expected number of work hours worked per week, number of appointments per day, and average client transactions, based on different production percentages.
- The MIT Living Wage Calculator helps to estimate wages needed to cover the cost of basic living needs in different geographic locations.
- Financial Aid Presentation 2026 Preview Days
- Create or update your FSA ID to apply for financial aid
Important Dates
Important financial dates for the academic year.
Financial Literacy
Financial literacy for DVM students begin long before starting veterinary medicine classes. The key to a student’s financial success rests with properly managing your limited budget.