6 Best Pharmacy School Loans of December 2023

Best for graduate students who'll need extra time before starting repayment.

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Best Pharmacy School Loans

Lender	NerdWallet Rating	Min. credit score	Fixed APR	Variable APR	Learn more
Federal Subsidized/Unsubsidized Loan Read review	5.0 /5 Best for All borrowers as a first option + Manageable payments post-graduation	None	5.50-7.05%	N/A	Read review
Federal Grad PLUS Loan Read review	5.0 /5 Best for Manageable payments post-graduation	None	7.54-7.54%	N/A	Read review
College Ave Graduate Student Loan Check rateon College Ave's website on College Ave's website COMPARE RATESon Credible’s website on Credible’s website	5.0 /5 Best for Private loans for borrowers with excellent credit	Mid-600s	5.05-14.49%	5.59-14.49%	Check rateon College Ave's website on College Ave's website COMPARE RATESon Credible’s website on Credible’s website
Ascent Graduate and Health Professions Student Loan Check rateon Ascent's website on Ascent's website COMPARE RATESon Credible’s website on Credible’s website	5.0 /5 Best for Private loans for borrowers with excellent credit	Low-Mid 600s	5.83-16.16%	7.17-16.08%	Check rateon Ascent's website on Ascent's website COMPARE RATESon Credible’s website on Credible’s website
Sallie Mae Undergraduate Student Loan Check rateon Sallie Mae's website on Sallie Mae's website COMPARE RATESon Credible’s website on Credible’s website	4.5 /5 Best for Private pharmacy school loans	Mid-600's	4.50-15.49%	6.37-16.70%	Check rateon Sallie Mae's website on Sallie Mae's website COMPARE RATESon Credible’s website on Credible’s website
PNC Private Student Loan Read review	3.5 /5 Best for Private pharmacy school loans	Does not disclose	4.74-11.44%	4.84-11.54%	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

5.0

Min. credit score

None

Fixed APR

5.50-7.05%

Variable APR

N/A

Key facts

Graduate students qualify for unsubsidized federal loans only.

Pros

More flexible repayment options for struggling borrowers than other lenders.
Subsidized loans do not collect interest while in school or during deferment.
Lower interest rates than many private lenders.

Cons

You pay an origination fee.

Qualifications

No credit check or minimum income is needed to borrow.
Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
Independent students and graduate students have higher loan limits.
Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate

Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.

Our 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

5.0

Min. credit score

None

Fixed APR

7.54-7.54%

Variable APR

N/A

Key factsBest for graduate students who need to borrow beyond the federal unsubsidized loan limit.

Pros

More flexible repayment options for struggling borrowers compared with private lenders.
All borrowers who attend a school authorized to receive federal aid can qualify.

Cons

May have higher interest rates compared with private lenders.
You pay an origination fee.
You can’t see if you’ll qualify without a hard credit check.

Qualifications

Grad PLUS loan borrowers must not have adverse credit history.
Borrowers with adverse credit history can still receive a grad PLUS loan by enlisting a co-signer without adverse credit history or documenting extenuating circumstances for their credit history.
Loan amounts: Total cost of attendance minus other financial aid.

Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.

Federal Subsidized/Unsubsidized Loan

5.0

Min. credit score

None

Fixed APR

5.50-7.05%

Variable APR

N/A

Key factsBest first option for all student loan borrowers.

Pros

More flexible repayment options for struggling borrowers than other lenders.
Subsidized loans do not collect interest while in school or during deferment.
Lower interest rates than many private lenders.

Cons

You pay an origination fee.

Qualifications

No credit check or minimum income is needed to borrow.
Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
Independent students and graduate students have higher loan limits.
Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate

Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.

Our pick for

Private loans for borrowers with excellent credit

Check rate

on College Ave's website

COMPARE RATES

on Credible’s website

College Ave Graduate Student Loan

5.0

Min. credit score

Mid-600s

Fixed APR

5.05-14.49%

Variable APR

5.59-14.49%

Key factsBest for graduate students who'll need extra time before starting repayment.

Pros

You can see if you’ll qualify and what rate you’ll get without a hard credit check.
International students can qualify with a co-signer.
Nine-month grace period is longer than other lenders offer.

Cons

You must be at least halfway through your repayment term before you can request a co-signer release.

Qualifications

Typical credit score of approved borrowers: Mid-700s.
Minimum income: $35,000 per year.
Loan amounts: $1,000 up to the total cost of attendance.

Available Term Lengths5, 8, 10 or 15 years

DisclaimerCollege Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. As certified by your school and less any other financial aid you might receive. Minimum $1,000. Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 10/4/2023. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

Check rate

on Ascent's website

COMPARE RATES

on Credible’s website

Ascent Graduate and Health Professions Student Loan

5.0

Min. credit score

Low-Mid 600s

Fixed APR

5.83-16.16%

Variable APR

7.17-16.08%

Key factsBest for graduate students who want flexible payment options.

Pros

Forbearance of 24 months is longer than many lenders offer.
Grace period of 9 months is longer than many lenders offer.
You can see if you’ll qualify and what rate you’ll get without a hard credit check.

Cons

You must be enrolled at least half-time to qualify.

Qualifications

Typical credit score of approved borrowers or co-signers: Not available.
Minimum income: Not available.
Loan amounts: up to $400,000.

Available Term Lengths7, 10, 12 or 15 years

DisclaimerAscent's undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2023 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.

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.

Check rate

on Sallie Mae's website

COMPARE RATES

on Credible’s website

Sallie Mae Undergraduate Student Loan

4.5

Min. credit score

Mid-600's

Fixed APR

4.50-15.49%

Variable APR

6.37-16.70%

Key facts

Rating and details displayed are for Sallie Mae's private student loan. Sallie Mae’s health professionals student loan lets you defer payments for up to four years during a residency or fellowship.

Pros

One of the few lenders to provide loans to part-time students.
Non-U.S. citizens, including DACA students, who live in the U.S. and attend school in the U.S. can apply with a qualified co-signer who is a U.S. citizen or permanent resident.

Cons

You can't see if you’ll qualify and what rate you’ll get without a hard credit check.

Qualifications

Typical credit score of approved borrowers or co-signers: Does not disclose.
Minimum income: Did not disclose.
Loan amounts: $1,000 up to 100% of the school-certified expenses.

Available Term Lengths10 to 15 years

DisclaimerLowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 8/25/2023. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.

PNC Private Student Loan

3.5

Min. credit score

Does not disclose

Fixed APR

4.74-11.44%

Variable APR

4.84-11.54%

Key facts

Rating and details displayed are for PNC's private student loan. PNC’s health and medical professions student loan may let you defer payments during residency.

Pros

Interest rate discount for autopay is larger than most lenders offer.

Cons

No formal forbearance options.
You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.

Qualifications

Typical credit score of approved borrowers: Did not disclose.
Minimum income: Did not disclose.
Loan amounts: $1,000 to $50,000.

Available Term Lengths5, 10 or 15 years.