Hagyard Equine Medical Institute Establishes Scholarship Endowment To Address Shortage of Equine Veterinarians in the U.S.
AdobeStock image
Sets bold goal to raise $1.5 million as part of its 150th Anniversary celebration in 2026
Lexington, KY: Over the last 10-15 years, the number of students pursuing a career in equine veterinary medicine has dropped significantly. As it celebrates its sesquicentennial in 2026, Hagyard Equine Medical Institute could think of no better way to give back to the industry that has been so very good to it than by helping to reverse the trends of student veterinarians.
“We’ve always had a passion for fostering the next generation of vets and ensuring the future of equine medicine,” said Dr. Luke Hagyard Fallon, DVM, Medical Director and the 5th generation of the Hagyard founder’s family. “Mentorship is one of our core values at Hagyard. And since our inception in 1876, hundreds of interns, externs, fellows and residents have come through our doors to train. Establishing this scholarship foundation to honor that legacy seems like a natural extension of that.”
Named the E.T. Hagyard 1876 Scholarship in honor of Dr. E.T. Hagyard, the first veterinary graduate to establish a practice in the state of Kentucky, the scholarship is the result of a partnership with the American Association of Equine Practitioners (AAEP) and its charitable arm, Foundation for the Horse – a 30+ year old 501C3 organization. The vision is to raise $1.5 million over a three-year period, use the initial endowment to provide three scholarships each year, and to grow the endowment such that the number and amount of scholarships offered would increase every three years.
“We’ve set the bar high, but that’s because the need is large,” continued Dr. Fallon. “It’s not a trend which allows for sustainable and appropriate care in the U.S.”
A brief look at the trends in veterinary medicine demonstrates Dr. Fallon’s point:
- Approximate number of equine veterinarians in the U.S. – 3,785
- Approximate number of horses in the U.S. – 7.2 million
- Percentage of vet students enter the equine field – 1.3%
- Percent of equine graduates who leave the field of equine medicine within five years of practicing – 50%
Among the biggest reasons for the small number of students entering the equine field and subsequently leaving early in their careers is the financial burden. Graduating vets leave school with an estimated $250,000, on average, in student loan debt. They also need a vehicle to go to the farms to treat the horses, as well as to invest in medical equipment, thus the start-up costs present an additional hurdle.
“Many times, the passion for the work is undermined by the financial burden,” related Dr. Fallon.
The good news is, while still in its infancy, fundraising for the endowment is already off to a good start. Several commitments have already been secured as key individuals and organizations in the industry recognize both the need and the opportunity the E.T. Hagyard 1876 Scholarship can provide. Nearly $200,000 has already been raised for the endowment.
The equine industry provides $177 billion dollars in economic impact in the U.S. and $49.6 billion in direct value to the U.S. economy.*
“The way we see it, the physical health of these amazing equine athletes has a direct relationship to the financial health of the industry as a whole,” offered Dr. Fallon. “We just want to do our part on both sides of the equation to support the health and well-being of these incredible animals. And, fortunately, we’re not alone in that endeavor.
For more information about the E.T. Hagyard 1876 Scholarship, contact Elise Santiz, Hagyard Marketing Manager at ESantiz@hagyard.com.
*Sources:
https://apps.legislature.ky.gov/CommitteeDocuments/50/11433/Jul202018%20Jensen%20Powerpoint.pdf
https://apps.legislature.ky.gov/CommitteeDocuments/349/13529/Aug%209%202021%20KEEP%20Testimony.pdf
https://horsecouncil.org/press-release-economic-impact-study/
https://www.foundationforthehorse.org/impact/student-education/
https://www.michiganfarmnews.com/horse-economics-101-strong-economy-equals-thriving-equine-economy
About Hagyard Equine Medical Institute: With nearly 60 veterinarians and 150 years behind it, Hagyard Equine Medical Institute is one of the oldest and the largest equine veterinary practices in the world. Based in Lexington, Kentucky, the facility, located across the street from the Kentucky Horse Park, boasts superior ambulatory services, the world-renowned Davidson Surgery Center, McGee Medicine and Fertility Centers, Hagyard Laboratory, Hagyard Sports Medicine Center, and hyperbaric medicine facilities. For more information, visit hagyard.com.
