6 Best Pharmacy School Loans of February 2023
Government programs can make federal loans the best choice for most pharmacy students.
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You can get pharmacy school loans from the federal government or private lenders. Most students should opt for federal loans, because government programs like income-driven repayment and Public Service Loan Forgiveness offer greater flexibility post-graduation.
But if you plan to work at a retail chain pharmacy or other for-profit business after earning a Doctor of Pharmacy degree, compare private loans with federal options. You may qualify for a less expensive pharmacy school loan with a private lender if you or a co-signer has excellent credit.
Here are our top picks for pharmacy school loans, plus information on how to get the loans.
You can get pharmacy school loans from the federal government or private lenders. Most students should opt for federal loans, because government programs like income-driven repayment and Public Service Loan Forgiveness offer greater flexibility post-graduation.
But if you plan to work at a retail chain pharmacy or other for-profit business after earning a Doctor of Pharmacy degree, compare private loans with federal options. You may qualify for a less expensive pharmacy school loan with a private lender if you or a co-signer has excellent credit.
Here are our top picks for pharmacy school loans, plus information on how to get the loans.
Best Pharmacy School Loans
Lender | NerdWallet rating | Min. credit score | Fixed APR | Variable APR | Learn more |
---|---|---|---|---|---|
![]() Federal Subsidized/Unsubsidized Loan | Best for All borrowers as a first option + Manageable payments post-graduation | None | 4.99- | N/A | Read review |
![]() Federal Grad PLUS Loan | Best for Manageable payments post-graduation | None | 7.54- | N/A | Read review |
College Ave Graduate Student Loan Check rate on College Ave's website | Best for Private loans for borrowers with excellent credit | Mid- | 4.49- | 4.49- | Check rate on College Ave's website |
Ascent Graduate and Health Professions Student Loan Check rate on Ascent's website | Best for Private loans for borrowers with excellent credit | Varies | 5.62- | 6.75- | Check rate on Ascent's website |
![]() Sallie Mae Private Student Loan Check rate on Sallie Mae's website | Best for Private pharmacy school loans | Mid- | 4.50- | 5.37- | Check rate on Sallie Mae's website |
![]() PNC Private Student Loan | Best for Private pharmacy school loans | Does not disclose | 4.24- | 4.89- | Read review |
Our pick for
All borrowers as a first option
Federal direct unsubsidized loans should be your top choice if low-cost federal health professions student loans aren’t available for your pharmacy program.
Federal Subsidized/Unsubsidized Loan

Min. credit score
NoneFixed APR
4.99-Variable APR
N/AOur pick for
Manageable payments post-graduation
If you want to ensure your payments are manageable after pharmacy school, you can base them on your salary with a federal income-driven plan.
Federal Grad PLUS Loan

Min. credit score
NoneFixed APR
7.54-Variable APR
N/AFederal Subsidized/Unsubsidized Loan

Min. credit score
NoneFixed APR
4.99-Variable APR
N/AOur pick for
Private loans for borrowers with excellent credit
on College Ave's website
College Ave Graduate Student Loan
Min. credit score
Mid-Fixed APR
4.49-Variable APR
4.49-on College Ave's website
on Ascent's website
Ascent Graduate and Health Professions Student Loan
Min. credit score
VariesFixed APR
5.62-Variable APR
6.75-on Ascent's website
Our pick for
Private pharmacy school loans
These lenders offer private loans with unique features for pharmacy students, like higher loan limits and letting you defer payments during residency.

on Sallie Mae's website
Sallie Mae Private Student Loan

Min. credit score
Mid-Fixed APR
4.50-Variable APR
5.37-on Sallie Mae's website
PNC Private Student Loan

Min. credit score
Does not discloseFixed APR
4.24-Variable APR
4.89-What is the best pharmacy school student loan?
1. Health Professions Student Loans
You may be able to receive a health professions student loan for pharmacy school from the U.S. Health Resources and Services Administration. These loans have a fixed 5% interest rate and don’t accrue interest while you’re in school or during a 12-month grace period, making them the only subsidized loan for graduate students.
You must demonstrate financial need to get a health professions student loan, and not all schools participate in the HRSA’s loan program. Funding amounts vary, so you may need to take on additional debt to pay for your Doctor of Pharmacy, or Pharm.D., degree.
2. Federal Graduate Student Loans
Pharmacy students are eligible for two types of federal student loans.
Federal unsubsidized loans. Unsubsidized loans have lower interest rates and fees than PLUS loans, so max these out first. You can get up to $20,500 annually.
Federal graduate PLUS loans. If unsubsidized loans won’t cover all your costs, you can take out up to your cost of attendance, minus other aid received, in PLUS loans.
All government loans — including those from the HRSA — can qualify for Public Service Loan Forgiveness. Roughly 30% of pharmacists in the class of 2020 plan to work for an employer that could qualify for PSLF, such as a hospital or university, based on data from the American Association of Colleges of Pharmacy. Stick with federal loans if you’ll be among them.
Federal loans also offer income-driven repayment plans that tie payments to a percentage of your discretionary income, typically 10%. This option can be useful during periods in which your salary might be low, like if you plan to do a one- or two-year post-graduate residency.
If you don’t need federal loan benefits, you can refinance pharmacy school loans with a private lender to save money when you start working.
3. Sallie Mae Health Professions Student Loan
Sallie Mae offers a specific private loan for aspiring health professionals such as pharmacy students. Citizens, PNC and Discover also have similar products.
Sallie Mae’s health professions loan stands out because it offers options that future pharmacists may value. For example, you can defer payments during residency. You can also apply to remove the co-signer from your loan after making 12 on-time payments, which is faster than the other lenders allow.
4. Ascent Graduate Student Loan
Ascent’s graduate student loan isn’t just for health professionals, but it sets itself apart from other graduate loans by offering more forbearance (24 months) and a longer grace period (nine months). Those benefits may come in handy when repaying pharmacy school loans.
Consider private loans if you don’t need federal benefits and you or a co-signer has excellent credit. You may qualify for a lower rate than the government offers on PLUS loans. Most private lenders also don’t have origination fees, while PLUS loans charge over 4%.
If you don’t need the features of a private health professions loan, shop around to find the least expensive loan possible. Many lenders offer graduate student loans, including College Ave and SoFi.
5. Stride Funding Income Share Agreement
Stride Funding offers income share agreements, or ISAs, to graduate students, particularly those in health care fields.
ISAs aren't student loans. With an ISA, you agree to repay a portion of your salary for a set term in exchange for upfront funding. Be sure to estimate how much you would pay based on pharmacist salary data before taking on an ISA. You may pay more or less than you would with a pharmacy school loan.
How to get student loans for pharmacy school
Complete the FAFSA to get federal student loans. The Free Application for Federal Student Aid, or FAFSA, is the gateway to most types of federal student aid, including unsubsidized loans, graduate PLUS loans and, typically, health professions student loans.
Submit any paperwork for federal health professions loans. If your school participates in the HRSA loan programs, it may require a different application form than the FAFSA. Contact your school’s financial aid office to ask about its process.
Apply directly with a lender to get private loans. If you’re considering a private pharmacy school loan, look for lenders that let you prequalify. That way you can compare rates without affecting your credit. Once you’ve found the best option, you’ll likely be able to start the application process on the lender’s website.
Last updated on December 20, 2022
To recap our selections...
NerdWallet's Best Pharmacy School Loans of February 2023
- Federal Subsidized/Unsubsidized Loan: Best for All borrowers as a first option + Manageable payments post-graduation
- Federal Grad PLUS Loan: Best for Manageable payments post-graduation
- College Ave Graduate Student Loan: Best for Private loans for borrowers with excellent credit
- Ascent Graduate and Health Professions Student Loan: Best for Private loans for borrowers with excellent credit
- Sallie Mae Private Student Loan: Best for Private pharmacy school loans
- PNC Private Student Loan: Best for Private pharmacy school loans