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Money Matters


Veterinary students receive most of their financial aid in the form of loans. Aid from most programs, including loans and scholarships, is awarded on the basis of financial need as determined by the Free Application for Federal Student Assistance (FAFSA). Applicants who anticipate the need for financial aid should complete the FAFSA online. The NC State University Title IV Financial Aid code to use when completing the FAFSA is 002972. It takes approximately four weeks for the FAFSA to be processed.

The NC State priority deadline for FAFSA filing is March 1.

Stafford Loans

The University Financial Aid Office administers the loan programs including the Federal Direct Stafford Loans (both subsidized and unsubsidized). The College of Veterinary Medicine also provides short-term loans in financial emergencies.

For more information about Stafford loans, see the University Financial Aid Office's web site at

Changes in the Direct Loan Program for 2012-2013 Academic Year

Effective for loans made for payment periods that begin on or after July 1, 2012, graduate and professional students are no longer eligible to receive subsidized loans. Please read the following FAQ's:

How do changes to Direct Stafford Loans impact graduate and professional students?

Recent legislation resulted in two changes for graduate and professional Direct Loans. The first involves the loss of subsidized loan eligibility, which means interest accrues on loans while still in school. Second, borrower repayment incentives have ended. As a result, no up-front interest rebates will be offered.

When does the graduate loan subsidy change take place?

The change applies to loans made for graduate and professionals students for periods of enrollment beginning on or after July 1, 2012.

How will this affect my overall loan limits, both annually and aggregately?

The annual Direct Loan limit remains $20,500 for graduate students and $40,500 for DVM students. The aggregate Direct Loan limit also stands unchanged at $138,500 for undergraduates and $224,000 for medical students. The Graduate PLUS Loan will still be offered up to the cost of attendance for DVM students who qualify for the loan and have exceeded the aggregate limit.

Why are these changes taking place?

The Budget Control Act of 2011, signed into law on August 2, 2011, calls for immediate cuts to federal student aid programs. In order to protect the Pell Grant program for the neediest undergraduate students, Congress eliminated the subsidy for graduate and professional students and used that savings to boost the Pell Grant program that was operating with an $18.3 billion shortfall. The act also terminated the Department of Education’s ability to offer any repayment incentives to Direct Loan borrowers.

Will this affect the previous subsidized loans I have already received?

The Budget Act is not retroactive. The current subsidized loans received by graduate and professional students will remain so, in accordance with the terms of the loan’s promissory note.

How much interest will I have to pay for the unsubsidized loan?

The Unsubsidized Direct Loan for 2015-2016 has a current fixed interest rate of 6.21 percent. Because interest begins to accrue upon loan disbursement and while the student is still in school, the total loan will increase by the time a student starts repayment. The amount of the increase depends upon the total amount borrowed and the length of the student’s graduate or professional program. The GRAD PLUS loan interest rate for 2015-2016 is currently fixed at 7.21 percent.

Does the Budget Control Act of 2011 change when I have to start repaying the loan?

Although interest begins to accrue immediately, graduate and professional students still have the options of deferring payment of their loans until after graduation. In most cases, students do not have to begin repayment of their loans until six months after graduating or until ceasing to be enrolled at least half time. We encourage our students to make quarterly interest payments as an effective strategy to decrease the total loan debt by the time of repayment.

North Carolina Student Loan Program for Health, Science and Mathematics


The NC HSM program has been suspended. They are no longer offering new loans under this program. Students who currently have loans may find service repayment information at the NCSEAA web site at or call them at 919-549-8614.

Diversity Graduate Assistance Grant

This program provides stipends of up to $3,000 for the academic year, with an option of $500 in additional support for study in the summer session. Awards are only made to African-American students who are residents of North Carolina. Awards are only made to students who have been admitted to a doctoral program, the College of Veterinary Medicine, or to individuals who have been accepted to a master's degree program in a department offering the doctoral degree and who intend, and will be eligible, to pursue the doctoral degree at the same institution after completion of the requirements for the master's degree. Recipients must be enrolled as full-time graduate students as defined by the institution. The student must be admitted to full graduate standing and maintain a 3.0 grade point average.

For more information, please visit the Graduate School web site at or call 919-515-2872.


Scholarships for NC State College of Veterinary Medicine students are available on a limited basis through funds made possible by gifts from private benefactors as well as group donations.

Scholarships are awarded by the Faculty Scholarship Committee based on demonstrated financial need (as determined by the FAFSA) and academic achievement. In addition, some scholarships may require additional criteria established by the scholarship's donor, such as interest in a particular species or type of veterinary practice, community and volunteer involvement, or student activities.

Scholarship applications are made available online to current students in the spring and to incoming students after they have accepted an offer of admission. The Scholarship Committee meets during May to recommend student awards and DVM students receive their financial aid award reports in early June.

Scholarships from Other Sources

In addition to scholarships awarded by the college, some DVM students receive scholarships from private organizations such as kennel clubs or corporations.

The US Department of Agriculture sponsors the Saul T. Wilson, Jr. Scholarship Program in Veterinary Medicine, including up to $5,000 per year for undergraduate studies and $10,000 per year for graduate studies for tuition, books, tutors and laboratory fees, and paid employment during the summers with the Animal and Plant Health Inspection Service. Interested students can get more information from USDA/APHIS by calling 800-762-2738.

The College Foundation of North Carolina may offer more information about possible ways to finance your education. CFNC can be reached at 1-800-600-3453.

The U. S. Army offers a variety of scholarships for veterinary students. For more information about the Veterinary Health Profession Scholarship Program, contact Sergeant Sean Elwin at 919-872-3357,, or see their web site at

Costs of Attendance

The yearly cost of education for full-time study at the NC State College of Veterinary Medicine includes tuition, fees, books, supplies, equipment, dues, immunizations and living expenses. The following estimate of expenses for veterinary students is based on proposed 2015-2016 tuition costs and federal cost of living estimates.

Effective the Fall 2010 semester, all students must be covered by Health Insurance. The mandatory health insurance offered through the university for a single student is NOT included in the Personal/Travel category. Students who purchase the University's health insurance plan may contact their financial aid counselor to request the expense be included in their individual cost of attendance. For DVM students, this is Sid Holloway at Complete rate information is available on the Student Health Center site.

The Student Health Insurance Plan rates for the 2015-16 academic year are $1,727 for the year ($863.50/semester).

Annual estimates may change as fee schedules are altered periodically.

College of Veterinary Medicine Cost of Attendance 2015-2016
Tuition and Fees yr1 yr2 yr3 summer yr4
In-State 18,138 18,138 18,138 15 18,138
Out-of-State 42,952 42,952 42,952 15 42,952
Other Expenses
Books/Supplies 2,000 1,900 3,865 0 1,850
Living Allowance 12,557 12,557 12,557 6,500 12,557
Personal/Travel 4,890 4,890 4,890 0 4,890

Loan Fees






In-State 37,918 37,818 39,783 6115 7,768
Out-of-State 62,732 62,632 64,597 6115 62,582


Contact Jeff Huckel with questions about money matters. Sid_Holloway is the CVM liaison in the Office of Scholarships and Financial Aid.