A nationwide chain of veterinary clinics works reduce the student debt of its doctors
Banfield Pet Hospitals innovates with financial wellness and suicide prevention programs.
Wellness benefits have the power to shape an industry. Ask the professionals at Banfield Pet Hospitals, where the chain of pet clinics has programs for suicide prevention and student-loan repayment that address those critical issues head-on.
“Igniting a critical dialogue in this profession is something we’re committed to doing, and feel responsible for doing,” says Banfield’s vice president of people and organization, Melissa Marshall.
Banfield, based in Vancouver, Washington, has more than 19,000 associates across 1,000 hospitals, and has 3,500 veterinarians and 2,000 veterinary technicians.
It’s an industry where well-educated doctors bring in more revenue for the clinics, but also where new employees frequently have massive student loan debt. Given those dynamics, it didn’t take long for Banfield to recognize the benefit of offering a student-loan repayment program. “We broached student debt several years ago,” Marshall says. “We witnessed the growing financial burden on veterinary students that presents not only a problem for their financial well-being, but also has the potential to threaten our industry.”
Significant student loan debt
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Tags: Banfield, student loan repayment, veterinarians, veterinary profession