How Do Students Afford PA School? Loans and Juno

One of the most common questions once you decide to pursue PA school is simple: how do people pay for this? There are so many costs involved in a graduate program, including tuition, fees, books, study resources, and living expenses. Most programs don't allow students to work, and with the rigor of PA school it would be extremely difficult to study and hold a job. So most students end up taking out loans, and then it gets confusing with all the options.

According to the 2019 PAEA report, the average cost of tuition at a private program was $95,058, while public programs averaged $52,585 for in-state students. [VERIFY] Out of state students at public programs paid an average of $93,313, just under the private program average. [VERIFY] Add in an average of $7,978 in fees plus living expenses that vary by location, and that is a huge chunk of change. [VERIFY] Becoming a PA is worth it, but those numbers can come with shock value, and the money has to come from somewhere.

One of the most important things to look at with loans is the interest rate. The percentages may look small, but the money starts compounding on the very first day of PA school classes, so you want that rate as low as possible.

That's where Juno comes in. They use group buying power to negotiate with lenders for the best available interest rates. It's like buying in bulk to save money. Would you rather buy one roll of toilet paper for $2 or 20 rolls for $10? You're getting a volume discount by combining your need for school funds with other students. The company was actually started by founders Nikhil Agarwal and Chris Abkarians, who did this on a smaller scale as Harvard students to save themselves and their classmates money by negotiating directly with lenders.

To see if Juno has a good option for you, the first step is joining their student loan negotiation group for free and providing the typical information needed for a loan. This lets Juno assemble a group of creditworthy students to present to lenders, who then compete for the best rate. Lenders come back with options for flexible repayment terms and both fixed and variable rates.

Juno evaluates the offers on factors like interest rate, fees, term and repayment options, customer service, eligibility criteria, and death and disability policy, then presents the negotiated deal so members can decide. Both U.S. citizens and U.S. permanent residents can take part. There's no obligation to accept, and you can pick a different lender or skip a loan entirely. Many lenders offer Juno a referral fee, and Juno passes that back to you, giving you at least 0.05% back as a check when you take a negotiated loan. [VERIFY] Importantly, they clearly state you should consider federal student loans before any private loans, which some private companies skip mentioning.

Paying for PA school is daunting, but understanding your loan options, especially interest rates and federal versus private, puts you in control. Compare rates, ask questions, and look at the big picture for your situation. Tools like Juno can help, and our resources are here to support the rest of your pre-PA journey.