Veterinarians working for the Thrive Affordable Vet Care chain received an average of $4,000 each under the first year of the company’s student-debt repayment program.
Headquartered in Austin, Texas, Thrive operates 16 clinics in Texas, Colorado and California.
The program is called the Thrive Freedom Plan.
“We realize the stress associated with what can seem to be an insurmountable debt load and its impact on veterinarian well-being,” said Odis Pirtle, Thrive’s CEO. “And we want to do our part in addressing this growing concern.”
According to the American Veterinary Medicine Association, veterinarians who graduated in 2016 had average educational debt of $167,535.
“As a veterinarian with student debt, I can identify with the pressure of managing both student debt and supporting a family,” said Christina Moore, DVM, MBA, who leads veterinary recruiting for Thrive.
The company plans to open 40 more clinics in 2018.
A much-larger competitor, Banfield Pet Hospital, in November 2017 unveiled a debt-relief program serving the company’s 3,500 veterinarians. Among the benefits are low-interest loan refinancing and a monthly $150 contribution toward student loans.