Navigating Physician Assistant School Cost
1. Cost of attendance
Each PA program typically lists their cost of attendance, which means tuition and the estimated amount for supplies and living expenses. This represents the maximum amount of loans you are able to take out for this program, and is usually an overestimate to make sure it more than covers what you would need. You can look at this prior to choosing where you apply. You can also find this information and more on the MyPAbox website.
2. Should I worry about the cost of attendance?
Ultimately, the medical professionals usually have no issue finding a job and paying off their loans, so I would not worry about this too much from an application standpoint. If you are accepted to multiple programs this is something you can compare. That being said, I would not let this be a deciding factor.
If there is a program you like better and seems to be a better fit, don’t let cost deter you. Overall I would say this information is something you should be aware of upon accepting a seat in a program.
3. Loans
In brief on loans: there are federal loans (i.e. through the federal government) and private loans (i.e. from a bank or loan servicer). There are pros and cons to each, but most commonly students use federal loans. Let’s say you solely use federal loans. For federal loans there is a set amount of unsubsidized loan, and then the rest of the leftover cost of attendance is covered by the Grad Plus loan which is slightly “worse” than the unsubsidized loan given that it has a higher interest rate.
4. Scholarships
It is good to look into scholarships that your school may offer and that are outside of the program. Not all PA programs offer their own scholarships but some do, so it is good to inquire with financial aid. As far as outside scholarships, major ones include the National Health Service Corp, Public Service Loan Forgiveness, and options through the military. Most of these involve loan forgiveness in exchange for time working in a certain area. Despite having these certain obligations attached, these methods tend to have the highest money value awarded towards loans.
5. Savings during school
Another thing to consider is how you can cut cost during school. This enables you to need less loans for cost of living and therefore resulting in a lower total loan amount at the conclusion of PA school. One of the bigger considerations is housing. Are you able to live with others you know in the area? If not, would you be open to having roommates? How many? Typically larger apartments with more roommates ends up being the cheapest option if you don’t have a connection in the area. Overall, housing will have a large impact on the amount you owe throughout the duration of PA school, so consider your options before you make this choice.
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Check out are article “How to choose your PA Program: Part 2” for more insightful tips on navigating through PA school.
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