Are you a future physician assistant wondering how to pay for PA school in 2026? Or maybe a recent grad trying to figure out how to pay off your PA student loans?
If you’re in either camp, you’ve got plenty of company. For many future PAs and recent grads, finances are a huge concern. It’s easy to see why—the average amount of student loan debt for graduates of PA school is $112,000! Whether you’re a borrower taking on new debt or a grad trying to pay off your loan, a number that big is bound to make you just a bit nervous.
An obvious solution would be to avoid going into debt, but for many of us, the loans are necessary. We’re told not to work during PA school, so we rely on them not only for tuition and fees, but housing and food as well. Given all that in combination is far from affordable for most students, many practicing PAs wouldn’t be where they are if they hadn’t been able to obtain student loans.
If you’re wondering how to pay for PA school in 2026, or a working PA dreading having to set aside money for your monthly payments, we can help. This post is for future PAs who have to go into debt to achieve their dream, and those who’ve graduated and are wondering how to pay off their loans. In the first half, we’ll discuss some recent changes that will impact how borrowers finance their education in 2026. Then, we’ll review some tips when it comes to refinancing, loan forgiveness, and the repayment options that are out there.
Let’s begin.
How to Pay for PA School in 2026: What New Borrowers Need to Know
The past few months have been full of change in the US Department of Education—and this has caused a lot of stress and confusion for borrowers. This is an especially trying time for students actively pursuing their Master’s of Physician Assistant studies. This section will detail some of the key changes that will impact new borrowers after July 1, 2026.
1. Grad PLUS loans are ending.
One of the recent changes that’ll affect students pursuing their PA degree the most is the elimination of Grad PLUS loans. These loans were beneficial to students pursuing graduate degrees for several reasons:
- They allowed students to borrow the total cost of their education
- Students didn’t have to begin repaying Grad PLUS loans until they’d been out of school for six months
With the elimination of this program, students will need to find other ways to fund their education.
What are your options?
One option is to take out direct unsubsidized loans, which are loans students can apply for regardless of their financial need. While you still don’t have to start paying back direct unsubsidized loans until six months after graduation, they’ll start accruing interest immediately upon disbursement.
2. There are updated limits for new borrowers.
Another recent change is a new cap on federal education loans of $100,000 for graduate school students and $200,000 for graduate students pursuing a professional degree. Unfortunately, the Department of Education has proposed that PAs do not fall under the “professional degree” category when it comes to federal loan borrowing. Thus, the cap for new borrowers seeking federal student loans for PA school after July 1, 2026 will be $20,500 annually, $100,000 total limit.
Compare this to the average cost of PA school which is between $10,000 and $20,000 per semester, or $20,000 to $40,000 per year on tuition alone. Of course, this doesn’t include the cost of housing and food during that time.
Given all the expenses, the new caps in 2026 will likely have students dependent on loans for their education looking closer at public school programs (which cost less).
3. Private banks will take on an increased role.
For any costs that exceed the new borrowing limits, students will need to turn to private loans. Unfortunately, they can be difficult to obtain for students with limited credit history and often require a cosigner. Banks rely on credit scores when deciding whether to let a student borrow. This can be a problem, as cosigning a loan is a huge commitment and borrowers may not be able to find someone with a good credit score who is willing to take on that burden for them.
The changes we’ve outlined here apply to both current and new students. However, students that are currently receiving graduate PLUS loans will be grandfathered in and allowed to continue this program.
PA Student Loans: Repayment Options for Graduates in Debt
Regardless of the changes to the student loan borrowing programs, the process of repaying student loans can be daunting. I’m about four years out from PA school, and still in the process of figuring out exactly what strategy I should use to pay off my loans. Borrowers have many options, including the Public Service Loan Forgiveness Program (PSLF), refinancing their loans, or opting for one of the many government repayment options. .
Let’s have a look at each.
1. Public Service Loan Forgiveness Program (PSLF)
The PSLF program affords the opportunity for borrowers who work for a nonprofit organization making payments towards their loans for 10 years to receive forgiveness of the remaining balance after that time. This program has been a hot topic lately, with some changes regarding qualifying organizations, but nonprofit hospitals have consistently qualified as public service.
If you want to pursue PSLF, ensure the healthcare system you work for is a nonprofit organization, as not all of them are. This can easily be determined with a quick Google search!
2. Refinancing
Refinancing your loans may be a good strategy if you aren’t opting to pursue a forgiveness program and are offered a lower interest rate than what’s available through the government. However, refinancing your loans will usually mean a repayment term of 5-20 years.
For context, government programs usually have a repayment term of 10-30 years. This can mean lower monthly payments and possible forgiveness of remaining balances after 20-25 years.
Should you refinance with a private lender?
It’s important to remember that the state of student loans is a hot political issue. Therefore, as political winds change direction, the repayment and forgiveness options may change with them. If you opt to refinance with a private lender, you won’t have any ability to undo this and become eligible for government based loan forgiveness in the future.
Before refinancing with a private lender, I recommend looking on the federal student aid website and utilizing the loan stimulator tool. This allows you to put in your estimated income and see various repayment options. This tool even goes as far as to tell you the true price you’re paying over the life of the loan, including the interest, and the amount you could have forgiven through available programs.
Final Thoughts
Overall, student loans are stressful for all of us. If you’re a new borrower, remember that Grad Plus loans have ended, and understand that any additional borrowing will have to be done from private banks. If you’re a grad trying to pay off your loan, it’s important to stay informed about your options. Repayment terms are constantly a topic of debate. This causes uncertainty in borrowers, but it’s a large amount of money you’re committed to paying off, so you owe it to yourself to stay informed as to what your options are.
Remember, there are paths that allow you to pursue repayment in a way that best fits your ability. Whether you’re a new borrower or a grad in debt, we’re all in this boat together.
For more (free!) content to help you navigate the PA journey, check out these other posts on the blog:
