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The decision to become a physician assistant, or PA, can lead to a rewarding career. PAs work at hospitals, medical offices, nursing homes, retail clinics, community health centers, and in the federal government.
Becoming a PA often means taking on student loans, however. Here’s what you need to know to help decide whether PA school is worth the debt.
Key Points
• Physician assistants who work in a qualifying public service job for an eligible employer, may qualify for Public Service Loan Forgiveness after 120 payments.
• Current income-driven repayment plans offer forgiveness after 20 to 25 years, with a new Repayment Assistance Program starting in 2026 that offers forgiveness after 30 years.
• The National Health Service Corps provides eligible PAs serving in high-need communities awards of up to $75,000 for student loan debt.
• Many states offer Loan Repayment Assistance Programs for PAs working in underserved areas for a specific time commitment.
• Effective budgeting strategies and refinancing may help some borrowers manage student loan debt more efficiently.
Average Cost of PA School
The average cost of PA school is approximately $95,165 for the 27-month PA program at an in-state school and $103,660 for an out-of-state school, according to the latest data.
Before sticker shock sets in, the average salary of certified PAs in 2024 was $134,000 per year, according to the American Academy of Physician Associates. PAs working in emergency medicine, one of the highest paying areas, averaged a median annual salary of $146,000.
Physician Assistant (PA) School Repayment Options
Fortunately, there are options available for PAs struggling with student loan debt. One is the federal government’s Public Service Loan Forgiveness (PSLF) program, which is available to those working in public service who are employed by a qualifying government or not-for-profit organization. Currently, PSLF forgives the remaining balance on federal Direct Loans after 120 qualifying payments under a qualifying repayment plan.
Another option for PAs is an income-driven repayment plan. Changes are coming to these plans in mid-2026 as a result of the big domestic policy bill that was signed into law in the summer of 2025
Until then, there are currently three plans to choose from — Income-Contingent Repayment (ICR), Pay As You Earn (PAYE), and Income-Based Repayment (IBR) These plans base a borrower’s monthly payments on their discretionary income and family size. Under one of these plans, PAs could receive student loan forgiveness after 20 or 25 years of repayment.
However, for borrowers taking out their first PA loans on or after July 1, 2026, there will be only one income-driven repayment plan available — the Repayment Assistance Program (RAP). On RAP, payments range from 1% to 10% of adjusted gross income for up to 30 years. At that point, any remaining debt will be forgiven. If a borrower’s monthly payment doesn’t cover the interest owed, the interest will be cancelled.
đź’ˇ Quick Tip: Some student loan refinance lenders offer a no-required-fees option, saving borrowers money.
Other Payment Programs
There are also federal and state programs that reimburse health care workers in underserved areas, which are called Health Professional Shortage Areas (HPSAs). For example, under the National Health Service Corps Loan Repayment Program, eligible PAs who serve full-time for two years in a high-need community in a HPSA may receive an award of up to $75,000 for their student loans.
In addition, many states offer Loan Repayment Assistance Programs (LRAPs) for medical professionals, including PAs, who serve in HPSAs. These programs vary in requirements and award amounts. You can search the Association of American Medical College’s database to see what may be available in your state.
Planning for the Future
One way to help manage PA school debt is to build a budget — and stick to it. Ideally, a budget can help you take control of your money and make sure you have enough to repay your loans each month.
A simple way to create a budget is to calculate your total income. Next, list out all of your necessary expenses, which include things like rent or mortgage payments, groceries, car payments, and student loan payments.
Then, list your discretionary expenses, such as entertainment, gym memberships, and clothing. Once you have that information, choose a budgeting system, such as the 50/30/20 method, in which you allocate 50% of your income to necessary expenses, 30% to discretionary expenses, and 20% to saving, such as for an emergency fund or retirement.
Refinancing School Debt
If a borrower’s student loan debt reaches a point where making progress on repaying the loans feels nearly impossible, federal student loan repayment and forgiveness programs either don’t apply or aren’t the right fit, or personal loans are involved, then refinancing with a private lender might be an option to consider.
With student loan refinancing, borrowers get a new loan, which is used to pay off one or more of their existing loans. In addition to combining multiple loans into one, qualified borrowers may also get a better interest rate through refinancing, reducing their monthly payment and the amount they pay in interest over the life of the loan, assuming the loan term does not change.
However, refinancing federal student loans means a borrower is no longer eligible for federal benefits such as forgiveness and income-driven repayment. Make sure you won’t need these programs before moving ahead with refinancing.
Recommended: Student Loan Refinancing Calculator
The Takeaway
Becoming a PA can result in a rewarding career — but also a significant amount of student loan debt. Fortunately, there are ways to make repayment easier, including student loan forgiveness, income-driven repayment plans, loan assistance repayment programs, and student loan refinancing. Borrowers can also create a budget to help them gain control of their finances as they work to repay their loans.
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
FAQ
How do I get PA loans forgiven?
To get PA loans forgiven, a borrower has several options, including pursuing Public Service Loan Forgiveness. PSLF requires that you work in an eligible public service job for the government or a nonprofit and make 120 qualifying loan payments. Or you can opt for an income-driven repayment plan to get loans forgiven after a payment period of 20 to 25 years. Finally, you should look into federal and state programs that give loan repayment assistance to PAs that work for a certain number of years in a high-needs community.
What is the 50/30/20 rule for student loans?
The 50/30/20 rule is a budgeting method that allocates 50% of a borrower’s income to necessary monthly expenses (including student loan payments), 30% to discretionary expenses, and 20% to savings. Users of the method can adjust the percentages to direct more money to student loan repayment. For instance, by cutting discretionary spending back to 20%, they could allocate extra money to their loan payments. The goal of this budgeting method is to help borrowers balance and gain control of their finances so they can manage their student loan debt.
How long does it take to repay PA student loan debt?
The average student loan borrower takes 20 years to pay off their student loans, according to the Education Data Initiative. However, the time it will take for a specific borrower to pay off their PA loan debt depends on how much debt they have, the payment plan they’re on, and their financial situation, among other factors.
For example, a borrower on the Standard Repayment Plan will pay off their loans in 10 years, though their fixed monthly payments will typically be high compared to other repayment plans, while a borrower on an income-driven plan can work to repay their loans for 20 or 25 years, after which any remaining balance is forgiven.
SoFi Student Loan Refinance
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