How to Pay for Pharmacy School

Pursuing student loans for pharmacy school may seem intimidating, but it doesn't have to be stressful. Making the decision to pursue a meaningful and publicly helpful career is commendable. We are here to provide you with the insights you need, including information on average costs, financing options, and managing student loan debt.Average Cost of Pharmacy School

The average cost of pharmacy school varies depending on if you’re an in-state or out-of-state student. For the top 10 pharmacy schools ranked by U.S. News & World Report, in-state tuition was $29,242/year on average, whereas out-of-state tuition averaged out at $46,790/year. If you factor in that most Pharm.D. programs are four (4) years, you get an average total cost of $111,613 for in-state students and $180,577 for out-of-state students at the top 10 schools.

Average Pharmacist Salary

The cost of pharmacy school can seem insurmountable, but according to the U.S. Bureau of Labor Statistics, the mean annual wage for pharmacists in 2019 was $125,510. That’s a salary hefty enough to make the cost of pharmacy school and any associated student loan debt feel like less of a burden.

Top Pharmacy Schools

We used the U.S. News & World Report's rankings to determine the top 10 pharmacy schools in the U.S. After that, we searched each pharmacy school’s website for the most recent information on in-state and out-of-state tuition and fees, length of program, etc.

Rank	College	In-state total tuition and fees	Out-of-state total tuition and fees	Program length
1	University of North Carolina - Chapel Hill	$94,376	$182,560	4 years
2	University of California - San Francisco	$160,704	$`97,439	3 years
3	University of Michigan - Ann Arbor	$131,708	$154,684	4 years
4	University of Minnesota	$111,456	$163,200	4 years
5	University of Florida	$94,760	$144,000	4 years
6	University of Kentucky	$114,648	$214,744	4 years
7	Ohio State University	$100,852	$195,636	4 years
8	Purdue University	$88,064	$161,104	4 years
9	University of Illinois - Chicago	$133,368	$195,440	4 years
10	University of Texas - Austin	$86,192	$196,960	4 years

Note: This chart is to help you get an idea of expected tuition and fees. Living expenses are not included in these estimates. Some pharmacy schools charge additional tuition for the last year of the program, and tuition costs may increase year over year. Contact the financial aid office for the most accurate information.

How to Pay for Pharmacy School

Remember that the tuition and fees for a student striving to get through a Pharm.D. program could be a six-figure cost. Sure, a six-figure salary after landing a job in the market can help, but there are things that aspiring pharmacists can do now to reduce how much they owe and minimize out-of-pocket expenses. Future pharmacists can experience financial relief with scholarships, grants, and even student loans. We outline these options next.

Pharmacy School Scholarships

APhA Student Scholarship Program

For students who complete at least one year of pharmacy school, earn a GPA of at least 2.75, and are active members of the APhA Academy of Student Pharmacists for students in the U.S. and Puerto Rico.

Health Resources & Services Administration (HRSA) Scholarships

Through the National Health Services Corps Scholarship Program (NHSC SP) initiative, pharmacy students can receive a full year of scholarship support in exchange for committing to serve a minimum of two years at an NHSC-approved site in a Health Professional Shortage Area.

TYLENOL Future Care Scholarship

CVS Health Minority Scholarship for Pharmacy Students

CVS Health began sponsoring five (5) scholarships of $8,000 to underrepresented pharmacy students in 2019. Applicants are evaluated based on their leadership, academic merit, and dedication to advancing the pharmacy profession and patient care.

American Society of Health System Pharmacists (ASHP) Student Leadership Award

The ASHP Research and Education Foundation awards up to twelve (12) $2,000 cash awards annually through this scholarship program. Pharmacy students who have completed at least one academic year in their professional pharmacy program can apply. Applicants must also be ASHP members in good standing. Learn more

National Community Pharmacists Association (NCPA) Foundation Scholarships

The NCPA Foundation hosts a variety of scholarships for students interested in independent pharmacy who are within 24 months of graduation. We’ve listed out the individual scholarships below.

Presidential Scholarships - This scholarship helps pay for pharmacy school for students who demonstrate leadership, achievement, academic merit, involvement in extracurricular activities, and an interest in independent pharmacy. At least five (5) scholarships of $5,000 will be awarded to recipients. Learn more on the scholarship website.
J.C. & Rheba Cobb Memorial Scholarship - This $2,000 scholarship will be awarded to one pharmacy student who demonstrates interest in government affairs, leadership qualities, and academic achievement. Applicants will have to write a letter and describe their school and civic accomplishments and future goals, interest in independent pharmacy, and interest in government activities. Learn more on the scholarship website.
Willard B. Simmons Memorial Scholarship - This scholarship is worth $2,000 and will be awarded to one pharmacy student who demonstrates interest in independent pharmacy management, leadership qualities, and academic achievement. Applicants will have to write a letter and describe their school and civic accomplishments and future goals, interest in independent pharmacy, and interest in independent pharmacy management and entrepreneurism. Learn more on the scholarship website.
Partners in Pharmacy - This $2,000 scholarship will be awarded to one pharmacy student who demonstrates interest in independent pharmacy management, leadership qualities, and academic achievement. Applicants will have to write a letter and describe their school and civic accomplishments and future goals, and interest in independent pharmacy as a career option. Learn more on the scholarship website.
Neil Pruitt Sr. Memorial Scholarship - This $2,500 scholarship will be awarded to one pharmacy student who demonstrates interest in entrepreneurism, leadership qualities, and academic achievement. Applicants will have to write a letter and describe their school and civic accomplishments and future goals, and interest in independent pharmacy, and interest in entrepreneurism. Learn more on the scholarship website.

Indian Health Service Scholarship Program

Three (3) scholarships (listed below) are funded by the Indian Health Service (IHS) and awarded to Alaska Native/American Indian students training to become health professionals in Indian health programs. Also, scholarship recipients must be members or descendants of federally recognized, state-recognized or terminated Tribes.

Preparatory Scholarship - This scholarship provides financial assistance to qualified American Indian/Alaska Native undergraduate students enrolled in preparatory courses or prerequisite courses leading to matriculating into an eligible health professions degree program, such as pharmacy.
Pre-Graduate Scholarship - This scholarship assists qualified Alaska Native/American Indian undergraduate students taking courses leading to a bachelor's degree in pre-medicine, pre-dentistry, pre-podiatry and other applicable subjects.
Health Professions Scholarship - This scholarship financially assists qualified American Indian/Alaska Native undergraduate and graduate students. In exchange for this scholarship, recipients agree to serve in full-time clinical practice after completing their academic or post-graduate clinical training.

For full details on the IHS scholarship program and these scholarships, visit the website.

American Foundation for Pharmaceutical Education (AFPE)

The AFPE advances its mission by supporting first-year graduate students, Pharm.D. students, pre-doctoral candidates, as well as faculty members, through fellowships and grants that could help pay for pharmacy school.

First-Year Graduate School Fellowships in Pharmaceutical Science - These fellowships are for students planning to pursue a Ph.D. in pharmaceutical science, who are also members of the one of the following pharmacy societies: Rho Chi, Phi Lambda Sigma, or Kappa Epsilon.
Pre-Doctoral Fellowship in Pharmaceutical Sciences - This fellowship comes with a $10,000 stipend is for full-time students in a U.S. accredited Ph.D. program in the pharmaceutical sciences. Eligible applicants must be U.S. citizens or permanent residents, have completed the equivalent of 3 full semesters and be awarded their Ph.D. degree within three (3) years.
Dr. Paul B. Myrdal Memorial Pre-Doctoral Fellowship in Pharmaceutics - This $10,000 fellowship requires applicants to meet the same criteria for the Pre-Doctoral Fellowship. The difference here is that applicants must be researching pharmaceutics as well.
Herb and Nina Demuth Memorial Award - This $10,000 fellowship requires applicants to meet the same criteria for the Pre-Doctoral Fellowship too, but applicants must also be researching parenteral drugs.
Underrepresented Minority Gateway Award - This $5,000 scholarship is for minority pharmacy students enrolled in an ACPE accredited pharmacy school who are interested in participating in a faculty-mentored research project. Students may be pursuing their bachelor's degree or Pharm.D. degree. Please visit the website for more details.

There are plenty of scholarships and fellowships that help pay for a pharmacy school students education, and while grants are harder to come by, remember there are programs like HRSA (Health and Resource Services Administration)that will pay for a portion of your tuition in exchange for a service commitment.

Unfortunately, professional degree students are not eligible for the federal Pell Grant, which is only available for undergraduate students. Though they still may receive federal Direct Unsubsidized loans. In addition, our recommendation when applying for different pharmacy schools is to reach out to your school’s financial aid department to see if there are any additional financial aid opportunities.

Pharmacy School Student Loans

Seeing the cost of pharmacy school can be cause for concern, but there are several ways to go about paying for it while trying to keep student loan debt at bay. We’ve already taken a look at scholarships and fellowships, and now we want to show you some of your student loan options. Keep reading as we break down the differences between federal loans, HRSA loans, and private student loans.

Federal Student Loans for Pharmacy Students

Direct Unsubsidized Loans

You can receive Direct Unsubsidized Loans, sometimes called Stafford Loans or Direct Stafford Loans, without demonstrating financial need. These direct unsubsidized loans are exactly that - unsubsidized, which means that you must pay all of the accrued interest from the date of disbursement. This is unlike direct subsidized loans you may have received as an undergraduate student, unfortunately these loans are not an option for graduate or professional students.

Health professional students (pharmacy school students included) may borrow up to $40,500 per year. The aggregate borrowing limit is $224,000 and the fixed interest rate for the 2024 - 2025 academic year (for loans first disbursed between July 1, 2024 and June 30, 2025) is 8.08%. There is also an origination fee, or “loan fee,” to borrow funds, which is 1.057%*.

Grad PLUS Loans

A Direct Grad PLUS Loan is a federal loan available to graduate and professional school students. When you get a PLUS Loan, your lender is the U.S. Department of Education (ED). To receive a PLUS Loan, you must have a credit check to determine if you have an adverse credit history. If you have an adverse credit history and do not meet the standards put in place, you might still be eligible if you are able to successfully meet the criteria for an exceptional circumstances appeal or apply with a cosigner who does not have adverse credit.

With Direct PLUS Loans, you can borrow up to the cost of attendance minus other aid. The fixed interest rate is 9.08%, and the origination fee is 4.228%* for academic year 2024 - 2025.

*For federal loans disbursed from Oct. 1, 2024 - Sept. 30, 2025

Health and Resource Services Administration (HRSA) Loans

HRSA Loans, or Health Resources and Services Administration Loans, are long-term and low-interest loans offered by schools to students with financial needs pursuing a degree in the health profession. Longer terms and low-interest rates make these loans more attractive for aspiring health professionals, like pharmacists. There are two (2) programs:

Health Professions Student Loans (HPSL)

These loans are for full-time or part-time students pursuing one of the following degrees: Doctor of Dentistry, Bachelor or Doctor of Science in Pharmacy, Doctor of Podiatric Medicine, Doctor of Optometry, and Doctor of Veterinary Medicine. A school is eligible as long as it offers degrees in one of the following disciplines: Podiatry, Dentistry, Optometry, Pharmacy, and Veterinary.

Loans for Disadvantaged Students (LDS)

These federal loans are available to students pursuing one of the following degrees: Doctor of Allopathic Medicine, Doctor of Osteopathic Medicine, Doctor of Dentistry, Bachelor or Doctor of Science in Pharmacy, Doctor of Podiatric Medicine, Doctor of Optometry, and Doctor of Veterinary Medicine. A school is eligible as long as it offers degrees in one of the following disciplines: Allopathic/Osteopathic, Podiatry, Dentistry, Optometry, Pharmacy, and Veterinary.

Private Student Loans for Pharmacy School

For students attending pharmacy school, private student loans may be essential when scholarships and federal loans do not cover all of your costs. Believe it or not, private loans present some unique benefits including flexible payment terms, competitive interest rates, and low or zero application and origination fees.

Start comparing lenders to find the student loan that is right for you.

Best Private Student Loans for Pharmacy School

Fixed APR 3.59% - 17.99%¹

Variable APR 5.34% - 17.99%¹

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Featured Lender

Competitive APRs starting at 3.59%¹
Coverage up to 100% of your school-certified cost of attendance ($1,000 minimum) ²
Multiple repayment options including: full principal and interest, interest-only, deferred, and flat payment
Flexible payment terms ranging from 5, 8, 10, and 15 years³
No origination, application and processing fees, no fees for early repayment
Apply online in 3 minutes and get an instant credit decision
Applying with a cosigner can increase your chances of getting approved and could result in a lower interest rate

College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

¹All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

²As certified by your school and less any other financial aid you might receive. Minimum $1,000.

³This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 11/01/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

Fixed APR 3.49% - 15.49%¹

Variable APR 5.04% - 15.21%¹

Cosigner Recommended

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Choose the #1 Private Student Loan Lender in the Nation. Sallie Mae is trusted by more families than any other private student loan lender.
Variable Rates: 5.04% APR - 15.21% APR. Fixed Rates: 3.49% APR - 15.49% APR. Lowest rates shown include 0.25 percentage point interest rate discount with auto debit payments.¹
Applying online is easy - you could receive a credit result in about 10 minutes.²
Multiple repayment options from in-school payments to deferred.¹ No origination fee or prepayment penalty²
Last year, students were 4x more likely to be approved with a cosigner³ and it may help you get a better rate.
Borrow up to 100% of school-certified expenses, whether you're online or on campus⁴

Borrow Responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

¹Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

²Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note-first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

³Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2022 to September 30, 2023.

⁴For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

Information advertised valid as of 10/25/2024.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.

Sallie Mae Loans are made by Sallie Mae Bank. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

Fixed APR 3.69% - 15.04%*

Variable APR 5.66% - 15.16%*

Cosigner Recommended

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AFFORDABLE fixed rates starting at 3.69% APR with Automatic Debit Discount*
1% CASH BACK Graduation Reward*
NON-COSIGNED option may be available for eligible undergraduate juniors and seniors.
PAY AFTER LEAVING SCHOOL – Customize your loan with flexible repayment options – start payments after graduation.
FORGET FEES – No application, origination or disbursement fees. No late fees and no prepayment penalty if you choose to pay your loan off early.
COVER UP TO 100% of your tuition and eligible living expenses.

* Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 11/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.

The minimum amount is $2,001 except for the state of Massachusetts. Minimum loan amount for borrowers with a Massachusetts permanent address is $6,001.

Fixed APR 3.69% - 16.49%¹

Variable APR 5.62% - 16.85%¹

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Check your eligibility in just 2 minutes
Flexible repayment options you can choose from
No fees for origination, disbursement, prepayment, or late payment³
Skip a payment once per year (once repayment period restarted)⁴
Will cover up to 100% of the school's certified cost of attendance
9-month grace period (3 months more than most lenders)²
Apply over the phone with the Client Happiness Team
- Call 866-492-1222, Monday through Friday, 5 A.M. - 5 P.M. PST
- Mention us when you call in to start your application

This information is for graduate and undergraduate students attending participating degree-granting schools. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.94% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.87% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.

¹You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.

²Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.

³Earnest does not charge fees for origination, late payments, or prepayments. Florida Stamp Tax: For Florida
residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.

⁴Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.

The information provided on this page is updated as of 09/10/2024. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.

Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107

Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

Fixed APR 3.69% - 14.22%*

Variable APR 5.00% - 14.22%*

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Fixed APR 3.54% - 14.83%*

Variable APR 5.54% - 15.86%*

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All online, all easy.
SoFi covers 100% of school-certified costs.
No fees. Period.
Repay your way with flexible repayment options (find the monthly student loan payment and rate that fits your budget).
Applying with a cosigner may increase your chances of approval and getting a better rate.
Over 1 million students have chosen SoFi.

Interest Rates: Eligibility and Important Details. Fixed rates range from 3.54% APR to 14.83% APR with 0.25% autopay discount. Variable rates range from 5.54% APR to 15.86% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 11/12/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.

Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 8/5/24 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org)

How to Get Student Loans for Pharmacy School

To get student pharmacy school loans, the first thing you want to do is fill out the Free Application for Federal Student Aid (FAFSA^®). This will allow you to receive federal student aid to help you pay for pharmacy school. After you complete the FAFSA, you want to wait for your financial aid award letter from your school which will detail your federal student loan eligibility. If you need help filling out the FAFSA, make sure you check out our guide to filing the FAFSA.

If federal loans won’t cover all of your costs, you can use private student pharmacy school loans to take care of the rest. Applying for pharmacy school loans will vary from lender to lender, but most applications can be completed online within just a few minutes.

You want to be sure to compare lenders. Lenders offer different interest rates, income-driven repayment terms, and so on. We like to keep it simple. To apply for a private student loan, just type in your school and see which lenders or financial institutions may work with your school.

Pharmacy School Loan Forgiveness Programs

With the cost of pharmacy school being so high, thinking about student loan forgiveness makes total sense, and we're glad that you're thinking ahead. Depending on the loans that you use, this option may save you thousands of dollars. Below are some student loan debt programs that might help you get your monthly payments.

Public Service Loan Forgiveness for Pharmacists (PSLF) - The PSLF Program enables students who borrowed Federal Direct student loans to have the outstanding balance on their direct loans forgiven after making 120-qualifying monthly payments while working full-time at an eligible employer, under an eligible income-driven repayment plan.

State-Based Programs - Sometimes states pay a portion of your student loans for working in an HPSA, or Health Professional Shortage Area. See if your state offers any of these options for pharmacists. If you're willing to relocate for a certain period of time, look into states you wouldn't mind working in.

National Institutes of Health (NIH) Loan Repayment Programs - In exchange for committing to conduct NIH related research, qualified health professionals can have up to $50,000 of their qualified educational debt repaid per year.

NHSC Substance Use Disorder Workforce Loan Repayment Program - The program was designed to recruit health professionals to serve in neglected areas to increase SUD treatment and prevent overdoses. Pharmacists are eligible for this program as long as they meet the qualifications for the program. Visit the website to learn more.

Active Duty Health Professions Loan Repayment Program - Serving in the U.S. military as a pharmacist could allow you to have a maximum of $40,000/year paid towards your student loans for pharmacy school. The amount repaid is contingent upon your length of service.

Pharmacy School Loan Repayment

Repaying your student loans for pharmacy school is the goal, and we want to help you accomplish that. The lenders we work with are some of the best in the industry, and you can explore various refinancing options, rates, and more. Refinancing allows you to combine multiple student loans into one and may allow you to save money with a lower interest rate on your monthly payments. You can learn more about your options by reviewing our preferred lenders.

Could student loan refinancing save you money?

Learn More

Federal consolidation and private student loan refinancing were not created equal. In fact, refinancing student loans is the one way you can combine federal and private loans, or have a parent released from being a cosigner on your loan(s).