Paying for physician assistant school can be expensive, with many programs costing $60,000 to $100,000 or more. Most students rely on a mix of federal student loans, Grad PLUS loans, and private student loans to cover tuition and living expenses.
In this guide, we’ll explain how PA school loans work, the best private lenders for physician assistant students, and how to decide between Direct Unsubsidized Loans, Grad PLUS loans, and private student loans.
Table of Contents
- How to pay for PA school
- Federal student loans
- Best private student loans for PA school
- How much does PA school cost?
- Salary vs. student loan debt
- What credit score do you need for PA school loans?
- Scholarships and grants
- Do physician assistant students qualify for loan forgiveness?
- PA student loans vs. federal graduate loans
- Are student loans worth it?
- FAQ
How to pay for PA school
Most physician assistant students use a combination of financial aid, scholarships, and student loans to pay for their education. Because PA programs are graduate-level programs, funding options differ from those for undergraduate financial aid.
In most cases, it’s best to work through your options in this order.
| Feature | Federal loans | Private PA loans |
|---|---|---|
| Credit check | Only Grad PLUS | Usually required |
| Interest rates | Fixed | Fixed or variable |
| Forgiveness | Yes | No |
| Repayment plans | Income-driven | Limited |
Federal student loans for physician assistant school
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.
| Direct Unsubsidized Loan | Grad PLUS Loan | |
| 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 for PA school
Direct Unsubsidized Loans are usually the first federal loan option for physician assistant students. These loans are available to graduate students regardless of income or credit history, and they come with fixed interest rates and a six-month grace period after graduation.
However, Direct Unsubsidized Loans have annual and aggregate borrowing limits. If the loan limit doesn’t cover your full cost of attendance, you may need to supplement your funding with a Grad PLUS Loan or private student loan.
Grad PLUS Loans for PA school
Grad PLUS Loans allow PA students to borrow up to their school’s full cost of attendance, including tuition, fees, and living expenses. Unlike Direct Unsubsidized Loans, Grad PLUS Loans require a credit check but do not have strict income requirements.
These loans have higher interest rates and origination fees, but they offer important federal protections such as income-driven repayment plans and Public Service Loan Forgiveness (PSLF).
Best private student loans for PA school
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
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
| Fixed rates (APR) | 4.17% – 14.47% |
| Variable rates (APR) | 3.89% – 17.99% |
| 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
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
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 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
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 12 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
- 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
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.
How much does PA school cost?
Physician assistant programs are graduate-level degrees, and the total cost can vary widely depending on the school and location.
According to the Physician Assistant Education Association (PAEA), the median tuition for PA programs is approximately:
| Program type | Median tuition |
|---|---|
| Public (in-state) | $56,718 |
| Public (out-of-state) | $88,168 |
| Private programs | $96,960 |
These figures typically reflect tuition only. When you add housing, books, transportation, and other living expenses, the total cost of attendance for PA school can exceed $100,000 to $150,000.
Because most PA programs run 24 to 36 months, students often rely on a combination of federal loans and private student loans to cover both tuition and living costs.
Before borrowing, review your school’s official cost of attendance. This determines how much you can borrow through federal and private student loans.
Physician assistant salary vs. student loan debt
For many students, the decision to take out loans for PA school comes down to whether the career earnings justify the cost.
According to the U.S. Bureau of Labor Statistics, the median salary for physician assistants is $133,260 per year. Salaries can vary depending on experience, specialty, and location.
However, borrowing responsibly still matters. Before taking out loans, estimate your expected monthly payments and compare them with your projected salary after graduation.
What credit score do you need for PA school loans?
Federal student loans for PA school generally do not require a credit score. Direct Unsubsidized Loans are available to graduate students regardless of credit history.
However, Grad PLUS Loans and private student loans do involve credit checks.
Typical credit expectations include:
| Loan type | Typical credit requirement |
|---|---|
| Direct Unsubsidized Loans | No credit requirement |
| Grad PLUS Loans | No adverse credit history |
| Private student loans | Usually 650–700+ or a cosigner |
Many PA students apply with a cosigner, especially early in their careers when they may not yet have strong credit or income. A cosigner can improve approval odds and may help you qualify for a lower interest rate.
Scholarships and grants for PA school
Student loans aren’t the only way to pay for physician assistant school. Scholarships, grants, and employer programs can help reduce how much you need to borrow.
Common funding options for PA students include:
PAEA scholarships
The Physician Assistant Education Association offers scholarships to PA students based on academic performance, leadership, and financial need.
National Health Service Corps (NHSC) scholarships
The NHSC program provides scholarships that cover tuition and living expenses in exchange for working in underserved areas after graduation.
State loan repayment programs
Many states offer loan repayment assistance for physician assistants who work in rural or medically underserved communities.
Hospital or employer sponsorships
Some healthcare systems offer tuition assistance or loan repayment benefits to PA students who agree to work for the organization after graduation.
Exploring these options early can significantly reduce the amount of debt you need to take on.
Do physician assistant students qualify for loan forgiveness?
Yes. Physician assistants may qualify for several loan forgiveness or repayment programs, particularly if they work in public service or underserved communities.
Public Service Loan Forgiveness (PSLF)
PAs who work full time for government or nonprofit healthcare organizations may qualify for PSLF. This program forgives the remaining balance on federal student loans after 120 qualifying monthly payments.
National Health Service Corps (NHSC) Loan Repayment Program
The NHSC program offers significant loan repayment assistance for PAs who work in areas with healthcare shortages.
State loan repayment programs
Many states offer their own loan repayment assistance programs for healthcare professionals who practice in underserved communities.
These programs generally apply only to federal student loans, not private loans.
Physician assistant student loans vs. federal graduate loans
Physician assistant students can use both federal graduate student loans and private student loans. These options share similarities but differ in areas such as repayment flexibility and eligibility for forgiveness.
| 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 |
Are PA school loans 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 loans are necessary, try to minimize borrowing by using scholarships, grants, employer assistance, or personal savings when possible.
FAQ
Can you get financial aid for PA school?
Yes. Most physician assistant students qualify for federal financial aid by completing the FAFSA. Federal Direct Unsubsidized Loans and Grad PLUS Loans are the primary federal funding options for PA programs. Students may also qualify for scholarships, grants, and employer-sponsored assistance.
Are PA school loans federal or private?
PA school loans can be either federal or private. Most students start with federal Direct Unsubsidized Loans and may use Grad PLUS Loans if they need additional funding. Private student loans from reputable lenders can help cover the remaining costs.
How much debt do PA students graduate with?
According to the Physician Assistant Education Association, the median debt for PA graduates is around $100,000 to $120,000, though this varies by school and borrowing level. Students attending private programs or borrowing for living expenses may graduate with higher balances.
Can PA school loans be refinanced?
Yes. After graduation, physician assistants can refinance their student loans through private lenders. Refinancing may help reduce your interest rate or monthly payment if you have strong credit and a stable income. However, refinancing federal loans removes access to federal protections such as income-driven repayment and loan forgiveness.
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 private loans, you can typically borrow up to your school’s certified cost of attendance. 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
About our contributors
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Written by Deb HippDeb Hipp is a freelance writer with more than a decade of financial writing experience about mortgages, personal loans, personal finance, and debt.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.