Veterinary Medicine Students

Upcoming Dates

August 2015

Understanding Your Financial Aid Award

Loans

The FAFSA must be filed every year to qualify for loans. All loans are in the student’s name and repaid when the student stops attending and/or graduates. Detailed information about each loan is available on our loan comparison guide.

The Unsubsidized Loan is available to all FAFSA filers:
Aggregate Borrowing Limit
for CVM students
Annual Borrowing Limit
for CVM students
*Interest Rate
July 1, 2015 to
June 30, 2016
*Origination Fee October 1, 2014 to
September 30, 2015
$224,000 $40,500 5.84% 1.073%
*The interest fee and origination fee are subject to change on an annual basis

Scholarships

The Iowa State University College of Veterinary Medicine coordinates a scholarship and award program that benefits nearly half of all Veterinary Medicine Students.

Students are selected for scholarships and awards by the CVM Student Awards Committee, which is made up of seven faculty members from throughout the College. The committee receives input from many other faculty and students during the process of selection.

Because the dean and faculty want each student to be considered for scholarships and financial awards, a general application for all CVM scholarships and awards is distributed in November to every student in the professional curriculum.

  • A limited number of scholarships are available for incoming first-year students
  • An application for these scholarships is included with the student's offer of admission

Cost of Attendance

Veterinary Medicine Students Fall & Spring — Years 1, 2, 3

*Resident Non-Resident
Year 2015 2015
Tuition & Fees $21,742 $47,288
Room & Board $8,275 $8,275
Books & Supplies $1,033 $1,037
Total Billable Costs $31,050 $56,600
Anticipated Transportation and Personal Expenses $3,320 $3,320
Laptop Computer** $2,550 $2,550
Total Costs $36,920 $62,470
*Students participating in UNL-PPVM are assessed in-state tuition as VM1 and VM2
**This cost is only for year-one students and is included in the fall financial aid award

Veterinary Medicine Students Fall & Spring — Years 4

Resident Non-Resident
Year 2015 2015
Tuition & Fees $21,442 $38,084
Room & Board $8,275 $8,275
Books & Supplies $1,033 $1,041
Total Billable Costs $30,750 $47,400
Anticipated Transportation and Personal Expenses $3,320 $3,320
Total Costs $34,070 $50,720

Veterinary Medicine Students Summer — Year 4

Resident Non-Resident
Year 2015 2015
Tuition & Fees $10,468 $18,789
Room & Board $3,879 $3,879
Books & Supplies $517 $517
Total University Expenses $14,864 $23,185
Anticipated Personal Expenses $1,574 $1,574
Total Cost $16,438 $24,759

Cost of Attendance History

For previous years costs of attendance, please visit our Cost of Attendance page.

Cost of Attendance Adjustment

Federal financial aid regulations allow universities to adjust your cost of attendance if education-related expenses exceed the costs listed to the right.

An increase to the cost of attendance ONLY increases the eligibility to apply for loans. Completing the cost of attendance adjustment form does NOT increase eligibility for the HPSL and/or LDS loans and scholarships.

Books and Supplies $516
Transportation $288
Medical/Dental $478
Personal $895
Room $2,243
Board (food/meal expenses) $1,896
These costs are by semester and assume full-time enrollment

The following are considered for a cost of attendance adjustment

  • Book and supply costs that exceed $516 a semester
  • Course fees on the U-Bill
  • Student & Scholar Health Insurance on the U-Bill
  • Transportation expenses for commuter and preceptorship students
  • Preceptorship or conference related to Veterinary Medicine
  • Medical expenses not covered by health insurance and exceed $478 a semester
  • Childcare expenses for dependent children

The following are not considered for a cost of attendance adjustment

  • Consumer bills (ie: cell phone, car payment, insurance, utilities, etc.)
  • Costs associated with outstanding consumer debt
  • Off-campus living expense that exceed the amount provided for room
  • Food and on-campus meal expenses for off-campus students
  • Relocation expenses
  • Interview expenses
  • Clothing for self or family
  • Pet or hobby expenses

The Review Process

  • Confirm the cost of attendance adjustment form is completed and signed
  • Include documentation of expenses not on your U-Bill

The review process will take five to ten business days, and you will be notified once the cost of attendance adjustment form is reviewed.

Submitting a cost of attendance adjustment form does not guarantee your cost of attendance will change. If loans are increased due to a cost of attendance adjustment, it is your responsibility to take the necessary steps to secure the additional loan funds.

Cost of Attendance Adjustment Form

Cost of Attendance Adjustment - Vet Med Veterinary Medicine version of the cost of attendance adjustment application form

Preceptorship Cost of Attendance Adjustment Form

Vet Med 4 Preceptorship WorksheetWorksheet for preceptorship expenses

Planning to Pay

  1. Review financial resources (loans, savings, cash, etc.) that can be used to pay each semester
  2. Create a budget for non-billable expenses (ie: off-campus housing, food, day-to-day living expenses) to determine if loans are needed to cover those costs
  3. Accept, reduce, or decline loans every semester in AccessPlus
  4. Monitor borrowing and the anticipated repayment amount in AccessPlus by selecting “Loan Payment Est” from the “Financial Aid” menu option.

Additional guidance on planning to pay and preparing for a career in Veterinary Medicine is available on our Financial Planning Resources handout.

If you need assistance planning to pay, visit the ISU Student Loan Education Office website for helpful resources. A representative from the ISU Student Loan Education Office will also hold weekly office hours at the CVM.

Facts and Statistics

The majority of financial aid for Veterinary Medicine students is in the form of loans. Students graduating from the ISU College of Veterinary Medicine had the following average indebtedness upon degree completion:

  • $134,193 – Average indebtedness of graduates in 2011-2012
  • $134,830 – Average indebtedness of graduates in 2012-2013
  • $138,473 – Average indebtedness of graduates in 2013-2014

Contact Information for the Office of Student Financial Aid

  • On-Campus: 0210 Beardshear Hall
  • College of Veterinary Medicine 2270(Office hours TBA)
  • Phone: (515) 294-2223
  • Email: vmfinancialaid@iastate.edu