Banfield increasing investment in helping veterinarians thrive by up to $8M annually, including nearly doubling annual investment in student debt relief

New benefit offerings build on the more than $31M the nation's largest general veterinary practice has already invested towards helping its veterinarians pay off student debt  

VANCOUVER, Wash., Feb. 4, 2025 /PRNewswire/ -- As part of the practice's ongoing commitment to Associate wellbeing and career growth, Banfield Pet Hospital – part of the Mars Veterinary Health family of practices – announced an increased investment of up to $8M per year to help veterinarians thrive in their careers. This includes nearly doubling the practice's annual investment in providing student debt relief, building on the more than $31M Banfield has already contributed to help veterinarians pay down their student loans since 2018.  

Additionally, Banfield is increasing investment in continuing education funding by up to 3X annually for both full-time and, uniquely, part-time doctors. Under this enhanced program, veterinarians will be able to receive up to $4K annually based on their schedules to be put towards ongoing development, including industry conferences, clinical skill development and membership dues.  

"These expanded benefit offerings build on Banfield's long-standing practice of listening to Associate feedback and implementing changes to address Associate needs," said Mony Iyer, president of Banfield Pet Hospital. "Based on what we heard, our goal is to support our doctors' career growth and health and wellbeing, which includes financial wellness. These benefits allow our Associates to focus on what they do best – providing high-quality veterinary care – and also help lead the way for industry-wide improvements that create a more sustainable future in veterinary medicine." 

Expanded Student Debt Relief Offerings 

• As part of the expanded benefit offerings, full-time Banfield doctors can receive up to $450 per month to apply to their student loans. 
• These increased monthly payments will be offered on top of additional student loan relief offerings for doctors who previously participated in Banfield's Student Job Program while in veterinary school. 

Banfield's Student Debt Relief Program has helped nearly 4,000 doctors with their student loans since launching more than six years ago. According to the AVMA, 83% of veterinarians graduated in 2023 with over $185,000 in educational debt on average, but individual debt varies greatly with some carrying debt loads over $400,000. With the increased investment announced today, Banfield estimates its veterinarians can pay off their student loans some six to seven years faster.  

Increased Funding for Continuing Education
Banfield began offering its veterinarians continued education funding over a decade ago. The increases announced today give them continued flexibility in choosing the right development to further their skills and capabilities.  

Additionally, Banfield has partnerships that provide all Banfield veterinarians with membership to their state veterinary medical associations – which includes discounted or free continuing education courses – and supports attendance to national conferences. Banfield Associates also have access to a library of continuing education and development resources offered for free by Mars Veterinary Health.  

Banfield is planning additional benefit innovations for 2025 based on the input and needs of its Associates to help create a more accessible and sustainable future for veterinary medicine. To learn more about career opportunities and Banfield's industry-leading benefits – from paid parental leave to flexible scheduling options – visit https://jobs.banfield.com/benefits.  

About Banfield Pet Hospital^® 
Banfield Pet Hospital was founded in Portland, Ore. in 1955 and today is a pioneer in preventive veterinary care with more than 1,000 general veterinary hospitals in 42 states, Washington D.C., Puerto Rico, and Mexico. Every year, Banfield's veterinary teams provide high-quality veterinary care to over three million pets, including more than 2 million Optimum Wellness Plan clients. As part of the Mars Veterinary Health family of practices, Banfield's more than 19,000 Associates nationwide are committed to positively impacting society through the Banfield Gives Back program and advancing veterinary medicine in service of our purpose — A BETTER WORLD FOR PETS^® — because pets make a better world for us. Press seeking additional information are invited to call the Media Hotline: (888) 355-0595. 

SOURCE Banfield Pet Hospital