When Should You Use Income-driven Repayment?

August 5, 2017

Tony Bartels, DVM, MBA, consultant for the Veterinary Information Network, explains how to know when you should use an income-driven repayment plan for your student loans.

Tony Bartels, DVM, MBA, consultant for the Veterinary Information Network, explains how to know when you should use an income-driven repayment plan for your student loans. When your debt-to-income ratio is 2:1 or higher, an income-driven repayment plan would be a good idea to use.

Trying to pay off a veterinary education in 10 years is not a good endeavor — doing so wouldn't allow you save for retirement or would make you postpone buying a house or starting a family. While income-driven repayment may extend your repayment period, you won't be putting your life on hold.