Credible takeaways
- Federal loans are usually the best first option for Pharm.D. students because they come with benefits and repayment protections that private loans don’t offer.
- As of July 1, 2026, Pharm.D. students can borrow up to $50,000 per year in federal Direct Unsubsidized Loans, with a lifetime cap of $200,000.
- Grad PLUS loans are no longer available to new pharmacy students starting programs in the 2026-27 school year.
- Private student loans can help cover pharmacy school funding gaps if federal loans aren’t enough to pay for tuition, fees, and living expenses.
Pharmacy school can be very expensive, with tuition and fees alone totaling tens of thousands of dollars per year. These costs can add up quickly when you’re attending school for multiple years. The good news is that pharmacists can also earn a high salary — the median wage was $137,480 in 2024, according to the Bureau of Labor Statistics.
If you want to attend pharmacy school but can't afford to pay for it yourself, student loans can help. Here’s what you need to know about pharmacy school loans, as well as alternatives to consider.
Compare private student loan rates
How much does pharmacy school cost?
Pharmacy school costs can vary widely, depending on location, whether the university is public or private, and whether the program is traditional or accelerated. For example, the cost of tuition and fees at Chapman University was $86,580 in the 2022-23 academic year, compared with $44,244 for in-state students at the University of California, Irvine, according to the American Association of Colleges of Pharmacy.
In addition to tuition and fees, you must pay for room and board, books and supplies, transportation, and other expenses. The University of South Florida estimates that in-state Pharm.D. students will spend $8,210 on housing and $3,500 on food for the spring 2026 semester alone. When adding transportation, books, and personal allowances, the total estimate for non-billable costs (funds not paid to the school) rises to $17,830.
With costs this high, it's not surprising that the median debt for the pharmacy class of 2023 was $158,000, according to the American Pharmacists Association.
Federal student loans for pharmacy school
Pharmacy students are eligible for two types of federal student loans:
- Direct Unsubsidized Loans: Pharm.D. students are considered professional students, which means they have higher federal loan limits than many other graduate students. As of July 1, 2026, pharmacy students can borrow up to $50,000 per year in Direct Unsubsidized Loans, with an aggregate limit of $200,000. For the 2026-27 school year, the fixed interest rate is 8.07%.
- Grad PLUS loans: These loans are no longer available to new graduate or professional borrowers as of July 1, 2026. However, if you borrowed a grad PLUS loan for your Pharm.D. program before that date, you may be able to continue borrowing for up to 3 more academic years or until your program ends, whichever comes first.
Editor insight: “I suggest maxing out your federal loan limits before turning to private student loans for pharmacy school. Federal loans offer benefits most private lenders don’t, including income-driven repayment, potential loan forgiveness if you work in the public sector, and more flexible payment relief options.”
— Renee Fleck, Student Loans Editor, Credible
Private student loans for pharmacy school
Private student loans can help fill the gap if you’ve reached your federal student loan limits.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Abe: Best for Payment Relief Options
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Mid-600s
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to school-certified cost of attendance (aggregate $300,000 limit for an undergraduate loan, $350,000 limit for a graduate or graduate certificate loan)
Term
5, 7, 10, 15, 20
Our take
Few private lenders match the borrower protections Abe® offers. You'll find options like in-school default protection, extended grace periods, and multiple types of forbearance — including for job loss and illness. These features make Abe an especially good fit for students who want a safety net during unpredictable times.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Sallie Mae: Best for Specialized Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to 100% of school-certified cost of attendance
Term
10 - 20
Our take
Sallie Mae stands out from the competition with one of the broadest selections of specialized private student loans on the market. Loans cover everything from undergraduate degrees to medical residencies, bar study, flight training, and trade schools. This makes Sallie Mae a good option for students pursuing specialized or less traditional educational paths.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
College Ave: Best for Extended Grace Periods
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 8, 10, 15 (20 for health professionals)
Our take
College Ave offers a wide range of borrower-controlled features that makes it especially compelling for those who want predictability and planning power with their student loans. From 5 to 20-year terms and multiple in-school payment options to profession-specific grace periods, College Ave offers more structure and flexibility than many of its competitors.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
SoFi: Best for Member Perks
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 to $100,000
Term
5, 7, 10, 15
Our take
SoFi offers borrower-friendly benefits rarely seen among student loan lenders. Perks include cash back for strong grades, a loyalty discount on future loans, and cosigner release after just 12 months. With flexible terms and competitive rates, SoFi is a standout option for students seeking long-term value.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Ascent: Best for No-Cosigner Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
-
Variable APR
-
Loan Amount
$2,001 to $400,000
Term
5, 7, 10, 12, 15, 20
Our take
Ascent stands out for offering private student loans to students without a cosigner and who have limited credit. Its Outcomes-Based Loan uses factors such as academic performance and graduation timeline instead of credit to determine eligibility. Students can also qualify for a cash-back graduation reward and choose from a wide range of repayment plans.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Nelnet Bank: Best for Competitive Rates
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Mid to high 600’s FICO
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 to $500,000
Term
5, 10, 15
Our take
Nelnet Bank stands out among private student loan lenders for offering low starting rates and high loan limits across undergraduate, graduate, and health professional programs. You can qualify for a Nelnet Bank student loan with mid-600s credit or apply with a cosigner to improve your chances of approval and secure a better rate.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Citizens: Best for Multiyear Approval
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
640
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 7, 10, 12, 15
Our take
Citizens could be a great fit for borrowers who already bank with the lender and want to save more on their student loans. Customers can lower their interest rate by 0.25 percentage points with a loyalty discount, and by another 0.25 percentage points for enrolling in autopay. Citizens also offers multiyear approval, making it easier to get additional loans without repeated hard credit checks.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Custom Choice: Best for Discounts and Rewards
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
660
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to school-certified cost of attendance (aggregate $300,000 limit for an undergraduate loan, $350,000 limit for a graduate or graduate certificate loan)
Term
5, 7, 10, 15, 20
Our take
Custom Choice offers a compelling combination of rate discounts, graduation rewards, and zero fees. You can reduce your interest rate by 0.25 percentage points with autopay and request a 2% principal reduction after graduating. With no fees, cosigner release available after 12 consecutive on-time monthly principal and interest payments, and hardship forbearance, it's a good option for students seeking both savings and support.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
INvested: Best for Indiana Students
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
670
Fixed APR
-
Variable APR
-
Loan Amount
$1,001 up to 100% of school certified cost of attendance
Term
5, 10, 15
Our take
INvestEd offers unique value for Indiana students, with eligibility limited to state residents or those attending school in the state. This includes competitive interest rates, cosigner release after just 12 on-time payments, and generous forbearance and deferment options. As a nonprofit, INvestEd combines affordability with a strong commitment to local borrowers.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
MEFA: Best for Borrowers With Good Credit
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
670
Fixed APR
-
Variable APR
-
Loan Amount
$1,500 up to school’s certified cost of attendance less aid
Term
10, 15
Our take
MEFA is best for borrowers with strong credit who want stable, low-cost college financing without the extras. It offers low, fixed-interest rates and zero fees. But there are no variable rates, autopay discounts, or short-term repayment options. If you meet its credit standards, MEFA's nonprofit model makes it a reliable, no-frills alternative to traditional private lenders.
How to compare private Pharm.D. student loans
Private loans don’t offer the same borrower benefits as federal loans. If you decide to take out a private student loan, you'll need to find the right one for your situation.
“Before securing a private loan, shop around for the best rates and terms,” advises Steven Conners, founder and president of Conners Wealth Management. Some key things to look for include:
- Interest rates: Rates can be fixed or variable, and they vary by lender. Get quotes from several lenders before committing to one.
- Repayment terms: Not all private lenders offer the same loan terms — some may offer repayment terms ranging from 5 to 20 years, while others may only have 2 terms to choose from. Longer repayment terms have lower monthly payments but cost more in interest over time. Shorter repayment terms have higher monthly payments but lower total costs over the life of the loan.
- Eligibility requirements: Lenders will check your credit and income before approving you for private student loans. If you can't qualify on your own, you may need a creditworthy cosigner.
- Cosigner release: If you have a cosigner, find out if lenders offer cosigner release options, which allow you to remove a cosigner from the loan after a certain number of on-time payments.
- Forbearance and deferment options: Check lenders’ policies for when and how you can defer payments or put loans into forbearance. These options allow you to pause payments during certain periods, including during school and times of economic hardship.
You should aim to get quotes from at least three different lenders and compare rates and terms to find the best option for your needs.
Scholarships and grants for pharmacy students
It’s best to exhaust free sources of aid before turning to student loans.
“If you’re already working, you might want to see if your employer has any employer-sponsored programs for tuition assistance,” says Conners. Other sources off gift aid include scholarships and grants offered by individual schools, states, and private organizations.
Some examples of scholarships for pharmacy students include:
- James A. Mincy Independent Pharmacy Scholarship: This is a $1,500 scholarship for pharmacy students who have “demonstrated outstanding academic achievement, made contributions through volunteer work, and participated in professional or student organizations.” It’s one of several options available through the Florida Pharmacy Foundation.
- Walmart Community Pharmacy Scholarship for Pharmacy Students: This scholarship “will support the financial need of students enrolled in Doctor of Pharmacy (Pharm.D.) degree programs” who plan to serve in rural areas, medically underserved areas, or health professional shortage areas. It’s one of several available through the American Association of Colleges of Pharmacy.
- Tylenol Future Care Scholarship: Ten students will receive scholarships worth $10,000, and 25 students will receive $5,000 scholarships through this program aimed at "deserving students pursuing careers in health care."
These are just some of the many scholarships that could be available to you. Use online search engines and contact your school's financial aid office to find opportunities that you could take advantage of.
FAQ
What’s the average student debt for pharmacy graduates?
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