A veterinary education is an investment in your future and serious financial investment as well. It is very critical that you take a realistic assessment of how you will pay for it. The cost of receiving a DVM education can exceed $100,000 when you include tuition, the cost for housing, food, books, transportation, and personal expenses. Today, many students rely on student loans as their primary source for financing their education.
Federal loans from the government are available to eligible students that complete the Free Application for Federal Student Aid FAFSA.
To apply for federal student aid, you need to complete the FAFSA or Free Application for Federal Student Aid. Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to pay for vet school. In addition, the Mizzou vet school uses your FAFSA data when awarding scholarships.
If you are ready to fill out the FAFSA now, go for it! The fafsa website is www.fafsa.ed.gov
Assessing Your Financial Status
ASSESSING YOUR FINANCIAL STATUS will help you focus on the important components that affect your personal financial standing. You are going to be looking at the same basic financial information lenders use to assess your credit status. The goal here is to provide you with a realistic picture of where you stand financially and help identify any problem areas:
- Where Do You Stand?
- Where Does All My Money Go?
- Making Sense of Your Financial Situation.
You might be reassured by what you find or you might find out that your fears are well founded. Simply knowing where your money is coming from and where it is going is a good thing. Remember, worry does not solve problems. Action solves problems. And action begins with a clear understanding of reality. So how can I get started?
Today’s complex, fast-paced world offers a maze-like array of choices when it comes to financial planning resources. Getting a handle on your finances is a three-step process. First, it is very important to know where you stand in the present. Second, you need take a look back to assess your finances in the past. Third, you need to decide and plan what you want to do in the future. You will need to develop a budget, but not just any budget. It’s critical to foster a budget that includes provisions for obtaining your goals. Your budget will be your plan for your financial behavior so you can get ahead rather than further and further behind.
Keep it simple. If you need help assessing your financial status check out the law schools Financial Literacy page or contact Carloes Taylor at 573-882-3981 or by email TaylorC@missouri.edu.
Quality Assurance and Verification
Each year the federal government requires that schools verify the accuracy of the data submitted on the FAFSA. Therefore, we may ask you to submit various documents, such as a federal tax return. Disbursement of any federal financial aid will be held until we have received and processed the requested documents.
Your Financial Aid Package
Once the MU Financial Aid Office has received your FAFSA results and other required forms, a financial aid package is developed and a financial aid award notification will be sent to you via email. The award notification will include the financial aid for which you are eligible and what you need to do to accept your award. First, second, and third year vet students will receive their financial aid award notices in mid-June. Fourth year students will receive their award notification in May.
Receiving Your Financial Aid
All financial aid received is applied directly to your MU student account. Your MU student account is established by the Cashier's Office once you are registered for classes. Your account consists of all tuition, fees, room and board (if you live in campus housing), books and any other University charges. Usually one-half of your aid is credited to your account for the fall semester and the other half is credited for the spring. More about how funds are applied to your account.
Access to view your financial aid online requires that you grant e-consent. By granting
e-consent you have access to view and accept your financial aid online. If you are new to Mizzou you will be able to provide consent when you receive your log in information from the vet school Office of Admissions. More about e-Consent