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Loan forgiveness for vet grads

Published (3/27/2009)
By Lee Ann Schutz
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Many students graduating from veterinary school leave with approximately $130,000 of debt. While there is no shortage of those seeking a degree in the field of veterinary medicine, the vast majority choose the lucrative small animal specialty after graduation. The consequence is that fewer veterinarians are locating in rural communities to service the large- or food-animal practice.

There are approximately 2,500 veterinary medicine graduates annually from the 28 colleges in the United States, including the University of Minnesota, that offer the degree. Trevor Ames, dean of the university’s College of Veterinary Medicine, told the House Agriculture, Rural Economies and Veterans Affairs Committee March 23 that the number of graduates choosing to serve in a food-animal practice has dropped by 50 percent in the last decade.

According to statistics from the American Veterinary Medical Association, he said there are four Minnesota counties with over 25,000 in animal population that have no veterinarians.

To entice veterinary students to serve in underserved rural areas, HF1447 would provide a loan forgiveness incentive. The bill calls for a $225,000 appropriation from the General Fund in fiscal year 2010.

Sponsored by Rep. Mary Ellen Otremba (DFL-Long Prairie), the bill would create a program to pay down loans for up to five graduates of the university’s veterinary program who agree to devote at least half of their practice to large- or food-animal care. The graduate would need to serve at least five years in an underserved area to receive up to $15,000 a year, or up to a $75,000 maximum.

“This bill is kind of the capstone on what we are doing to recruit, mentor adequately train and provide financial incentives (for students) to go into these underserved areas,” Ames said.

Approved by the committee, the bill was referred to the House Agriculture, Rural Economies & Veterans Affairs Finance Division. The companion, SF132, sponsored by Sen. Steve Dille (R-Dassel), was held over by the Senate Agriculture and Veterans Affairs Budget and Policy Division for possible omnibus bill inclusion.

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