Hey everyone,
@Davids Yes, the "$70k" number was average starting salary, so it doesn't necessarily reflect what she would be making after a few years. This was also a couple of years ago when we first started looking into it. Before I thought hard enough about money :(
@Another Reader the local veterinary school had a 98% job placement for this year's graduates, many of whom received multiple competing offers. I'm not saying that this will always be the case, nor am I saying that it will be the case for my wife, but I took it as a pretty good sign.
@Everyone $250,000 is a rough estimate.
For example, if she gets in to the local university, where we would not need to move, it is ~$33,000 per year for tuition/books/supplies (so not including housing/transportation/etc).
If she got into a neighboring state where she did not qualify for "in state" tuition, the number jumps to $48,000 per year for tuition/books/supplies (closer to $250,000). Housing around this university is significantly cheaper, so our mortgage/rent payment would go down significantly, probably in half or more. Also, I have the ability to work from home, so my salary will follow us if we need to move.
As for her current student loan debt, the figure is actually around $13,000 now, with the rates between 5 - 6.5%. I thought it was higher because when I asked her how much was left, she thought it was around $20k. When I asked her to check, it is actually around $13k. Sorry about the inconsistency... :(
I believe that her dream of becoming a licensed veterinarian is something that is worth pursuing, even with the debt cloud. What do you do with your time when you retire early? As far as I know, you pursue your hobbies and your passions. For her, her passion is animals, especially shelter animals. She would be able to make a greater impact on the community as a licensed veterinarian than she would as a volunteer.
As for having children: when you're in veterinary school (according to current students we've talked to), you are basically in class for 8-9 hours per day and studying for 3-4 hours per day, and that doesn't include the other extra-curricular things like clubs (they have clubs for basically any interest) which can give you invaluable hands-on experience. Not saying that means we couldn't have a kid when she was in school, but it would be extremely difficult.