Physician Assistant Student Loans: Best Options for PA School

Becoming a physician assistant (PA) is a rewarding career path, offering both job security and a strong salary—with median earnings of $130,020 per year, according to the U.S. Bureau of Labor Statistics. But before you start diagnosing and treating patients, you’ll need to finance your PA school education, which can be expensive.

Federal and private student loans for physician assistants can help cover tuition, fees, and living expenses. Understanding your options will help you minimize costs and choose the best loan for your situation. Here’s what you need to know about PA student loans and the best lenders to consider.

Lender	Best for	LendEDU rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Earnest	Large loans	4.7/5
SoFi	Member benefits	4.7/5
ELFI	Personalized support	4.5/5

Federal physician assistant school loans

Federal student loans, backed by the U.S. Department of Education, offer fixed interest rates, flexible repayment plans, and loan forgiveness options. They don’t require a credit check (except for Grad PLUS loans) and often provide better repayment protections than private loans.

The two main federal loan options for PA students are:

	Direct Unsubsidized	Grad PLUS
Fixed rates	8.08%	9.08%
Loan fee	1.057%	4.228%
Eligibility	Available to all graduate students	Requires a credit check, but no income requirements
Repayment terms	10 – 25 years	10 – 25 years
Grace periods	6 months	6 months

Direct Unsubsidized Loans are the best first choice because they offer lower fees and don’t require a credit check. However, they have borrowing limits, so you may need additional funding.
Grad PLUS Loans let you borrow up to the full cost of attendance, making them a great option if Direct Unsubsidized Loans don’t cover all your expenses. However, they have higher interest rates and loan fees.

Both loan types allow for income-driven repayment plans and loan forgiveness options, which can help reduce your monthly payments after graduation.

Physician assistant private student loans

We’ve researched multiple lenders offering graduate and medical school loans to find the best options. Here are five top PA school lenders to consider.

College Ave

Best Overall

5.0 _/5

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Why we picked it

College Ave is a great option for physician assistant students who want flexible repayment options and a simple, stress-free application process. You can borrow up to 100% of your school’s certified cost of attendance without worrying about prepayment penalties or origination fees.

What makes College Ave stand out for PA students is its nine-month grace period—longer than the standard six months—giving you extra breathing room before repayment starts. It also offers a deferment option during residency, which can be a huge plus if you plan to specialize. Plus, you can pick from multiple repayment terms to find a plan that works for you.

📌 Why PA students like it:

More time to start repaying
Flexible terms
Simple online application

Loan details

Rates (APR)	4.17% – 14.47%¹
Loan amounts	$1,000 – 100% cost of attendance
Repayment terms	5, 8, 10, 15, or 20 years

Eligibility requirements

Graduate students must be enrolled in an eligible U.S. school at least half-time and have a Social Security number. Borrowers must also meet their school’s guidelines for satisfactory academic progress. Loan approval depends on the borrower’s or cosigner’s credit history and income.

Sallie Mae

Best for Cosigners

4.8 _/5

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Why we picked it

Sallie Mae is a well-known name in student loans, and for good reason. It’s one of the few lenders that allows PA students to borrow up to 100% of their education costs with no maximum loan limit. This is ideal if you’re attending an expensive PA program and need extra funding.

One of the biggest perks is its cosigner release option, which lets you remove a cosigner after just 12 months of on-time payments—much sooner than many other lenders. If you’re applying with a parent or spouse, this could be a big deal. Sallie Mae also offers a 48-month deferment for internships and fellowships, giving you more time to focus on launching your career.

📌 Why PA students like it:

No loan cap
Cosigner release in just 12 months
Long deferment period

Loan details

Rates (APR)	4.15% – 14.97%
Loan amounts	$1,000 – 100% cost of attendance
Repayment terms	15 years

Eligibility requirements

Students must attend eligible graduate-degree-granting schools and meet the age of majority in their state. Students who aren’t U.S. citizens or permanent residents must live and attend school in the U.S. They must also provide a valid government ID and apply with a cosigner who has good credit and is a U.S. citizen or permanent resident.

Earnest

Best for Large Loans

4.7 _/5

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Why we picked it

If you need a big loan to cover PA school expenses, Earnest is worth a look. It allows you to borrow up to your full cost of attendance, with no fees and a nine-month grace period—giving you more time before repayment starts.

What sets Earnest apart is its unique flexibility. You can skip one payment every 12 months if needed, which can be helpful when you’re navigating the transition from student to full-time PA. However, one downside is that cosigners can’t be released without refinancing, so make sure your cosigner is comfortable with the long-term commitment.

📌 Why PA students like it:

Large loan amounts
No fees
Extra flexibility with skipped payments

Loan details

Rates (APR)	4.17% – 16.85%
Loan amounts	$1,000 – 100% cost of attendance
Repayment terms	5, 7, 10, 12, or 15 years

Eligibility requirements

Students must pursue a graduate degree and attend an eligible Title IV four-year institution at least half-time. Borrowers must live in Washington, D.C., or any state except Nevada and be at least the age of majority (usually 18) in their state of residence. Students must be U.S. citizens or permanent residents or have a cosigner with one of those statuses.

SoFi

Best for Member Benefits

4.7 _/5

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Why we picked it

SoFi is a solid choice if you’re looking for more than just a student loan—it comes with extra perks that can help you long after PA school. As a borrower, you’ll get networking opportunities, referral bonuses, and financial planning tools to help you manage your loans and your future salary.

Another standout feature is deferment during residency or internship, plus the ability to release a cosigner after 24 consecutive on-time payments. SoFi also lets you check your rates without affecting your credit, making it easy to see what you qualify for before committing.

📌 Why PA students like it:

Extra member perks
Career support
Ability to defer payments while in training

Loan details

Fixed Rates (APR)	3.54% – 14.83% with autopay
Loan amounts	$1,000 – 100% cost of attendance
Repayment terms	5, 7, 10, or 15 years

Eligibility requirements

Students must be enrolled at least half-time in a graduate degree-seeking or graduate certificate program at an eligible school. Loans are available to students enrolled less than half-time who have previously borrowed a student loan from SoFi. Students must be U.S. citizens or have other eligible status. Loans may not be available in all states.

ELFI

Best Student Loan Advisors

4.5 _/5

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Why we picked it

If you’re someone who likes one-on-one support during big financial decisions, ELFI might be the right lender for you. It assigns each borrower a dedicated student loan advisor, meaning you won’t have to navigate the loan process alone.

ELFI also offers competitive rates, flexible repayment terms up to 20 years, and no fees. While it doesn’t have as many extra perks as SoFi, the personalized service can make a big difference if you want help choosing the right loan and repayment plan.

📌 Why PA students like it:

Personalized guidance
Competitive rates
Long repayment terms

Loan details

Rates (APR)	4.50% – 14.22%
Loan amounts	$1,000 – 100% of certified costs
Repayment terms	5 – 15 years

Eligibility requirements

Borrowers must be enrolled at least half-time in a graduate or doctorate program. They must also be U.S. citizens or permanent alien residents without conditions and have a minimum credit score of 680.

Best Medical School Loans: Compare Benefits

Physician assistant student loans vs. graduate student loans

Physician assistant student loans have similarities to graduate school loans. They also may have important differences, as noted in the table below.

Features or requirements	Physician assistant student loans	Federal loans
Income and credit history to qualify	Varies by lender	Good credit history required for Grad PLUS loans; not required for Direct Unsubsidized
Grace period	6 – 9 months, varies by lender	6 months
Repayment terms	Typically 5 – 20 years, varies by lender	10 – 25 years, depending on chosen repayment plan
Interest rate	Fixed or variable, varies by lender	Fixed
No payments due until after you graduate, leave school, or reduce attendance to half-time?	Varies by lender	Yes
Loan forgiveness program?	Not typical	Yes

How much does a physician assistant student loan cost?

According to the Physician Assistant Education Association (PAEA), the median in-state tuition for public PA school programs in 2023 was $56,718. Private PA school students paid a median tuition of about $96,960. The median cost for nonresident students enrolled in public PA programs was about $88,168.

If you plan to pay tuition with a physician assistant student loan, you’ll need to know the total cost of the loan. Below are examples of the total costs of a $70,000 student loan based on the interest rate, monthly payment, and repayment term beginning once the deferral period ends after graduation. Total costs don’t include loan fees.

Fixed rate & term	Monthly payment	Total loan cost
8.29%, 5 yrs.	$2,081	$124,860
8.40%, 7 yrs.	$1,616	$135,744
6.00%, 10 yrs.	$1,034	$124,080
6.99%, 15 yrs.	$871	$156,780

When deciding how much to borrow with a physician assistant student loan, factor in how much you may already owe in student loan debt. That way, you can determine your total monthly payments on all student loan debt.

Is a physician assistant school loan worth it?

Consider the scenarios below if you’re considering a PA school loan.

Consider PA loan if you…	Reconsider PA loan if you…
Plan to make being a physician assistant a full-time, long-term career	Won’t be enrolled or attending school at least half-time
Are enrolled or attending a graduate school degree program at least half-time	Already have a substantial amount of undergraduate student loan debt to repay and can’t afford a higher amount of monthly payments
Prefer flexible repayment terms	Don’t plan to earn a full-time income as a physician assistant to pay off student loan debt faster

If a physician assistant student loan isn’t for you, you may be able to pay for school with scholarships, grants, or work-study programs. Exploring those options before applying for a physician assistant student loan may reduce the amount you need to borrow.

Ensure you also fill out the FAFSA to see whether you qualify for federal student financial aid.

How to get physician assistant student loans in 5 steps

Take these steps if you want to borrow student loans for PA school:

Use free money first. The first place to look for financial aid is from sources that allow you to avoid taking on student loan debt. For example, physician assistant scholarships and grants can help you pay for tuition, fees, and other costs of attending PA school without acquiring student debt.
Tap your own savings or income. Another option is to tap into the financial resources you already have or could create to minimize your need for loans. Your parents may be able to help out with money set aside in a college savings fund, for example. You could supplement that with personal savings or take on a part-time or full-time job to help cover PA school costs.
Apply for federal student aid. Federal student loans can help with paying for PA school. Consider these before turning to private loan options because federal loans have fixed interest rates and offer more flexible repayment plans. The first step to applying for federal loans is completing the Free Application for Federal Student Aid (FAFSA).
Consider private PA school loans. Federal student loans have borrowing limits, but private PA school loans could make up the difference if your education costs exceed the maximum amount you can borrow. Your physician assistant student, loan repayment options, will likely be less flexible than federal loans but don’t count them out.
Compare loan options. Before choosing a private loan, it’s wise to shop around and compare available options. Lenders offer different rates, repayment options, loan terms, and deferment periods. For this reason, one lender might be a better fit for you.

FAQ

Which PA school loan is the best?

The best physician assistant school loan for you is the one that meets your financial needs. Federal Direct Unsubsidized student loans are generally the best place to start because they offer many protections, features, and fixed interest rates.

Private PA school loans or Grad PLUS loans can fill the gap if you still need funding. It’s best to shop around to find the loan with the best terms and lowest rates, allowing you to reduce your borrowing costs as much as possible.

Do I need a cosigner for PA school loans?

Depending on your credit history, credit score, and income, a lender may require a cosigner when taking out a private PA school loan. This cosigner could be any trusted, creditworthy adult, such as a parent, grandparent, sibling, or spouse.

While adding a cosigner can boost your chances of approval—and often get you better loan terms—many lenders also allow cosigners to be released from their financial obligation after a certain number of on-time payments.

Do PA school loans cover living expenses?

Most private lenders will allow you to take out a PA school loan that helps cover eligible living expenses. You can usually borrow up to 100% of your school-certified expenses, which may include housing and transportation.

How much can I borrow with PA student loans?

With a private loan, you can generally borrow as much as you need for PA school. Federal student loans have maximum limits, but private loans let you borrow up to 100% of your necessary expenses. Some lenders have aggregate limits, which may also consider any loans you acquired from the same lender for your undergraduate degree.

When does repayment on PA school loans start?

Most PA school loans offer a grace period of six to 12 months. Once you graduate, this grace period extends the time before full principal and interest repayment begins. Beyond that, most lenders allow an additional grace period while you’re in a PA fellowship or internship program. Depending on the lender, this additional grace period can range from 36 to 60 months.

Can physician assistant school loans be forgiven?

Yes, PA school loans can be forgiven through several programs. Public Service Loan Forgiveness (PSLF) allows PAs working full-time for qualifying employers, such as government or nonprofit organizations, to have their loans forgiven after 120 qualifying payments.

Income-Driven Repayment (IDR) plans offer forgiveness after 20 to 25 years of payments, though the forgiven amount may be taxable. Many states also have their own loan repayment programs for PAs working in underserved areas, with varying amounts and requirements.

The military offers significant loan repayment assistance for PAs serving as commissioned officers, and some healthcare employers provide loan repayment as part of their benefits package. By exploring these options, PAs can significantly reduce their student loan debt.

How we selected the best physician assistant student loans

LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best PA school loans

Lender	Best for	LendEDU rating
College Ave	Private student loans	5.0/5
Sallie Mae	Cosigners	4.8/5
Earnest	Large loans	4.7/5
SoFi	Member benefits	4.7/5
ELFI	Personalized support	4.5/5