Paying for Pharmacy School Need to Knows

A Doctor of Pharmacy degree is a 4-year, licensed professional degree that teaches students how to fill prescription medications and educate patients about using prescriptions safely. Pharmacy school can be expensive, adding up to nearly $200,000.

With that price tag, it’s not a surprise that pharmacy students may have to rely on a few different sources of financing to pay for school, sometimes using a combination of savings, grants, scholarships, and federal and private student loans. This article will review pharmacy school costs, the amount pharmacists can make, and nine tips for paying for pharmacy school.

Key Points

How Much Does Pharmacy School Typically Cost?

The cost of pharmacy school can vary depending on where you enroll, the location of the institution, and the extent to which public dollars support the university you plan to attend. As mentioned, the complete cost of pharmacy school can add up to nearly $200,000, and this can swing higher for students who opt for an out-of-state institution. The American Association of Colleges of Pharmacy (AACP) lists the tuition and fees for pharmacy school for the 2025-2026 academic year, which can help you compare costs across the pharmacy schools you may be considering.

For example, the first school on the list, Auburn University, costs $11,340 per year for in-state pharmacy students and $34,020 per year for out-of-state students. Mandatory fees cost $14,566 for 33 credit hours for students in their first year. However, in the fourth year, mandatory fees cost $13,316 for 46 credit hours.

It’s worthwhile to compare the costs of various institutions before you make a decision. However, remember that financial aid can potentially bring the costs down further, so don’t rely completely on the published tuition prices. A conversation with the financial aid office at each school may give you a more in-depth analysis of how much it will actually cost, taking your personal situation into account.

Is Pharmacy School Worth It?

For the right individual, pharmacy school can be worth it. The costs of pharmacy school may seem daunting, but the professional perks, ability to become a part of a health care team, job opportunities, and career stability mean that pharmacy school can be the right option for many individuals. The high salary of pharmacists may also make pharmacy school worth it.

How Much Can Pharmacists Make?

The 2024 median pay for pharmacists was $137,480 per year, or $66.10 per hour, according to the Bureau of Labor Statistics. The job outlook for 2024-2034 will increase 5% in total, which is faster than average.

9 Tips for Paying for Pharmacy School

Think of paying for pharmacy school as dividing up a pie, as there are many ways to do this. For example, various pieces of the pie might be made up of scholarships, grants, loans, and money out of your own pocket. No matter how you slice the pie, every dollar you contribute is an investment into your career and your future. We’ll discuss scholarships, including university, pharmacy, and private scholarships as well as grants in the next section.

1. Scholarships

Scholarships are funds that you don’t have to pay back. You can get scholarships as a pharmacy student from a number of different sources, including the university that you plan to attend as well as through designated pharmacy and private scholarships.

It’s also worth considering your other interests beyond pharmacy. Scholarships may be awarded based on heritage, location, or even hobbies or special skills. Take some time to review if you have talents in other areas that may qualify you for additional scholarships.

University Scholarships

Pharmacy colleges and schools traditionally offer direct financial assistance to pharmacy students through various sources, including alumni associations and local chapters of pharmaceutical organizations and fraternities. Consider setting up a meeting with the financial aid office at the university you plan to attend to learn more about specific scholarships available for the pharmacy program.

Pharmacy Scholarships

Local and state pharmaceutical associations, practicing pharmacists, drug manufacturers, and wholesalers may also offer pharmacy scholarships to promising pharmacists. For example, seven pharmacy students annually can receive a $5,000 Walmart Community Pharmacy Scholarship. Students must be accepted or enrolled in the professional curriculum at a U.S. college or school of pharmacy and show evidence of leadership skills and academic success. They must also have a preference to serve rural or medically underserved patients.

Private Scholarships

Private scholarships come from companies, service groups, local or regional organizations, foundations, and individuals. For example, Tylenol offers a scholarship for students pursuing careers in health care, including pharmacy.

2. Grants

Like scholarships, you do not have to repay the money you receive from grants. Grants, which are typically based on need, can also be awarded based on merit. Filling out the Free Application for Federal Student Aid (FAFSA®) automatically considers you for federal grants based on need. You may also become eligible for state grants. Your college or university can give you more information about the types of grants you’re eligible for through your pharmacy program.

3. Federal Student Loans

You may be wondering how to pay for pharmacy school without loans. It’s possible to do it through a combination of scholarships, grants, and savings, though many people take advantage of federal student loans through the U.S. Department of Education.

Federal student loans are a type of federal financial aid, and to apply, you must file the FAFSA. Learn more about the requirements for this application in SoFi’s comprehensive guide to the FAFSA. You can qualify for two types of federal student loans for pharmacy school: Direct PLUS Loans and Direct Unsubsidized Loans.

Federal student loans have fixed interest rates and benefits, such as income-driven repayment plans. Just like obtaining an auto loan or a mortgage, you must pay back these loans with interest.

Direct PLUS Loans

Pharmacy students can take advantage of Direct PLUS Loans, also called grad PLUS loans or direct grad PLUS loans, to help finance graduate and professional school. The grad PLUS loan comes from the U.S. Department of Education for graduate or professional students. In order to get one, your school must participate in the Direct Loan Program.

Please note, however, that grad PLUS loans will be discontinued for new borrowers after July 1, 2026. Borrowers who received a grad PLUS loan before June 30, 2026, can continue borrowing under current terms through the 2028-29 academic year.

The Direct PLUS Loan is not need-based, which means you can get it no matter your income level. You can borrow up to the full cost of attendance and use the money to pay for your tuition, room and board, and fees. Your school will subtract other financial aid you receive, such as scholarships, grants, and fellowships, from the full cost of attendance and award you the difference with a Direct PLUS Loan. The interest rate is 8.94% for Direct PLUS Loans first disbursed on or after July 1, 2025 and before July 1, 2026.

Direct Unsubsidized Loans

Similar to student loans for undergraduates, you can tap into Direct Unsubsidized Loans. Unsubsidized means that the government doesn’t pay the interest while you’re in school and during the grace period. You can borrow up to $20,500 per year with this type of loan, and the interest rate is 7.94% if disbursed on or after July 1, 2025 and before July 1, 2026 for graduate students.

4. Private Student Loans

Private graduate student loans do not come from the federal government. This type of loan can come from a bank, credit union, or another financial institution and can be used to help finance your education. The amount you can borrow depends on the costs of your degree but also depends on your personal financial factors, such as your credit score and income.

You may have gotten advice that suggested exhausting all of your federal grant and loan options before considering private loans because interest rates are usually higher compared to federal student loans. Additionally, private student loans don’t qualify for the same borrower protections as federal student loans, such as income-driven repayment plans or deferment options. However, private student loans can be an option to consider if you need additional funding to cover your pharmacy school expenses.

Recommended: Things to Know Before Applying for Private Student Loans

5. PSLF Programs

The Public Service Loan Forgiveness (PSLF) Program is a federal student loan forgiveness program. More specifically, you may qualify to have the remaining balance on your Direct Loans forgiven after you have made 120 qualifying monthly payments under a qualifying repayment plan. You must work full-time for an employer that belongs to a qualifying organization, such as a federal, state, local, or tribal government organization or other nonprofit organization.

You must have Direct Loans or consolidate your other types of federal student loans into a Direct Loan, repay these loans under an income-driven repayment plan, and make 120 qualifying payments toward these loans. The requirements for PSLF can be quite strict, so be sure to read them closely. For more information about PSLF programs and to learn more about your eligibility, contact your loan servicer, which is the entity that services your loan.

6. Pharmacy Internships

Pharmacy internships can be instrumental in your budding career. This approach can help you understand how pharmacies operate, learn the ins and outs of customer service, help you dive into inventory management, and learn the professional skills necessary to become a pharmacist. You may also learn more from pharmacist professionals about leading a team and gain tangible professional experience to bring back to the classroom.

You may also want to look into pharmacy fellowships, which provide financial support in an external or internal capacity (in or out of the university environment). Assistantships also provide financial support in an academic department through teaching, research, or administrative responsibilities.

7. Work Part Time

You may want to consider working a part-time job in conjunction with pharmacy school. For example, if you attend school from 8am-4pm, you may want to seek a part-time job after hours.

However, it’s important to consider your time constraints and whether you can succeed in your coursework. Consider your ability to manage your time before you take on a part-time job. For the right student, taking on a job can help pay for college tuition and provide an additional source of income. Networking opportunities and skill development can also come from a part-time job, even if it doesn’t directly relate to your pharmacy career.

8. Borrow From Family

Do you have a family member who really wants to give you money for your education? You may seriously consider borrowing from your parents, sister, brother, or whoever else wants to lend you money.

Just remember that it could strain family relationships if you fail to pay back the loan. It’s a good idea to have a plan in place to repay your relative(s), as well as create boundaries so both parties feel good about the arrangement.

9. HRSA Loans

The Health Resources and Services Administration (HRSA), an agency of the U.S. Department of Health and Human Services (HHS), improves health care for geographically isolated and vulnerable individuals.

The HHS, through the HRSA, also offers several loans for health services students.

For example, Health Professions Student Loans are available to individuals who study pharmacy, as well as dentistry, optometry, podiatric medicine, or veterinary medicine. Pharmacy students who show financial need may also be able to tap into Loans for Disadvantaged Students. Health Professions Student Loans have fixed interest rates of 5%, which is lower than both Direct Unsubsidized Loans and grad PLUS loans.

These loans also allow a 12-month grace period, while most other loans only offer six months. In addition, Health Professions Student Loans are subsidized, which means you don’t pay interest on the loan while you’re in school, and you do not pay additional loan fees. However, they come with a few downsides: not all schools participate, and there are no set borrowing limits. You also can’t tap into income-driven repayment plans or PSLF.

The Takeaway

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

Can you use FAFSA for pharmacy school?

Absolutely! It’s generally a smart idea to file the Free Application for Federal Student Aid (FAFSA®) for pharmacy school, no matter your financial situation. The FAFSA can give you access to a range of financial aid options, including scholarships (your school will consider your eligibility based on the FAFSA results), grants, loans, and work-study programs. You want to be able to put together the best financial aid options for your needs, and the best way to do that involves filing the FAFSA.

Does Walgreens pay for pharmacy school?

Walgreens offers the Pharmacy Educational Assistance Program. This program requires working for the company for a period of time as a registered pharmacist upon receiving your license. Check the company’s website for more details.

How much can pharmacists make after graduating?

The median pay for pharmacists is $137,480 per year, or $66.10 per hour, according to 2024 data from the Bureau of Labor Statistics. The job outlook for pharmacists is projected to grow by 5% between 2024 and 2034, which is faster than average.

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