PA School Loans: Advice from Student Loan Planner
PA School Loans: Advice from Student Loan Planner
By: Savanna Perry, PA-C
Most PA students take on loans, so the smart move is having a plan before and after you borrow. Private loans can make sense only if they replace higher-cost Grad PLUS loans and you won't be working for a nonprofit. If you're already out of school and don't qualify for forgiveness, refinancing to a lower rate is usually worth it.
Last Updated: June 12, 2026
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When do private loans make sense for PA school?
Private student loans for PA school are only a good idea in a specific situation: when you're replacing higher-cost Grad PLUS loans with lower-cost private loans. The lower interest rate is the whole point, so if a private loan doesn't beat your federal rate, it's not doing its job.
There's a big catch, though. You want to make sure you're not going to work for a nonprofit employer. Federal loans come with forgiveness options like Public Service Loan Forgiveness that private loans simply don't have. If there's any chance you'll work at a nonprofit hospital or clinic, giving up your federal loans to chase a slightly lower rate could cost you far more in the long run. This is exactly the kind of trade-off worth thinking through before you sign anything.
Should you refinance your PA school loans after graduation?
If you're already out of school, refinancing your PA school loans to a lower interest rate is a good idea when you don't benefit from forgiveness programs. The logic is similar to the private loan question: forgiveness is the one thing that can make federal loans worth keeping at a higher rate.
So the first question is always whether you qualify for, or plan to pursue, a forgiveness program. If you do, refinancing usually doesn't make sense because you'd lose access to those federal benefits. If you don't, a lower rate through refinancing can save you a meaningful amount over the life of the loan. It's worth running the numbers on your specific balance, rate, and career plans rather than assuming refinancing is automatically the right call.
In our experience coaching applicants, money is the topic people avoid until it's urgent, and that's a mistake. The students who feel calmest about PA school costs are the ones who looked at the numbers early and made a plan, even a rough one. You don't have to have it all figured out before you apply, but you should know roughly what you're signing up for.
Where can you get help figuring out your loan strategy?
Student loans get complicated fast, and the choices you make early on can follow you for years. If you're feeling confused, you can get help to figure it out both before and after borrowing. Travis Hornsby and his team at Student Loan Planner specialize in mapping out a strategy for high-debt borrowers, which is exactly the boat most PA students are in.
The big takeaway from this conversation is to be intentional. Don't just take the default loan package or refinance because a friend did. Understand whether forgiveness is on the table for you, compare your real options, and ask for help when the math gets murky. A little planning up front can save you a lot of money and stress down the road.
Every Pre-PA Should Know...
A simple rule of thumb: private loans and refinancing only make sense if you won't use loan forgiveness, because forgiveness is the main reason to keep federal loans.
Free Interview Worksheet → https://www.thepaplatform.com/services/free-pa-school-interview-worksheet-download/
Need to Know:
Private loans help only when they replace higher-cost Grad PLUS loans at a lower rate
Avoid private loans if you might work for a nonprofit employer with forgiveness options
Refinancing makes sense after graduation if you don't qualify for forgiveness programs
Forgiveness programs are the main reason to keep federal loans even at a higher rate
You can get professional help with your loan strategy both before and after borrowing
Run the numbers on your own balance and career plans before making a decision
Listen: the full conversation
We covered this in a conversation on The Pre-PA Club podcast. Press play to hear it first-hand, in their own words.
Understanding the financial implications of attending PA school is paramount for any aspiring physician assistant. We delve into the essential topic of student loans in this episode, emphasizing the necessity of comprehending your borrowing options. We converse with Travis Hornsby, an expert from Student Loan Planner, who elucidates the distinctions between federal Stafford loans and Grad PLUS loans, as well as the potential ramifications of borrowing excessively. Travis provides invaluable insights on loan forgiveness programs, particularly for those who may be employed in non-profit sectors, and the critical importance of strategic financial planning. As you embark on your PA school journey, it is vital to consider your financial future and make informed decisions regarding your education funding.
What we cover
Understanding the financial aspects of PA school is crucial for managing future debt effectively.
Students commonly rely on loans, particularly federal options like Stafford and Grad Plus loans.
Loan forgiveness programs can significantly reduce student debt, especially for those in public service roles.
Consolidation and refinancing have different implications; understanding these can save thousands in interest costs.
Living expenses can be covered by loans, but budgeting and financial discipline are essential to avoid excessive debt.
Strategizing your savings rate is more impactful than merely focusing on loan repayment alone.
Chapters
0:01 – Understanding Student Loans and Financial Planning
4:47 – Understanding Student Loans for PA School
8:53 – Understanding Loan Forgiveness and Repayment Options
16:05 – Understanding Student Loan Repayment Options
24:12 – Common Mistakes in Loan Management
34:47 – Financial Insights for New Graduates
Episode: Loan Debt - Interview with Travis Hornsby from Student Loan Planner · Follow The Pre-PA Club on Apple Podcasts or Spotify · Browse all episodes
Listen: PSLF Deep Dive - How to get Student Loans Forgiven with Meagan Landress of StudentLoanPlanner.com
PA school is expensive, and Public Service Loan Forgiveness is one of the few real ways out from under it. It's also one of the most misunderstood programs in existence.
PA school is expensive, and Public Service Loan Forgiveness is one of the few real ways out from under it. It's also one of the most misunderstood programs in existence.
Meagan Landress is a student loan consultant with Student Loan Planner, and she walks through the five boxes you have to check: you work for a qualifying public service employer, you're full time, your loans are direct federal loans, you're on an income-driven repayment plan, and you make 120 qualifying payments.
Miss one of those and the clock isn't running. That's how people end up ten years in with nothing to show for it.
Her most useful tip is a practical one - look up your employer's EIN and run it through the PSLF help tool on studentaid.gov before you assume you qualify. Don't guess.
Heads up: student loan rules change constantly, and this episode was recorded in 2022. Verify everything at studentaid.gov before you make decisions. I'm not a financial advisor and none of this is financial advice.
What we cover
The five PSLF requirements, one at a time
What counts as a qualifying employer and how to check
Why your loan type and repayment plan can quietly disqualify you
Using the PSLF help tool and your employer's EIN
Common mistakes that reset people's progress
How to think about loans before you sign for PA school
Resources
Follow The Pre-PA Club: Apple Podcasts · Spotify · All episodes
FAQ
Yes, loans are typically necessary to pay for PA school. The key is having a plan for borrowing and repayment rather than taking loans without a strategy.
Only when they replace higher-cost Grad PLUS loans with a lower rate, and only if you won't be working for a nonprofit employer with loan forgiveness options.
Refinancing to a lower rate is usually a good move if you don't benefit from forgiveness programs. If you're pursuing forgiveness, refinancing federal loans is generally a mistake.
Grad PLUS loans are federal graduate loans that can carry higher interest rates. They keep federal protections and forgiveness eligibility, which is why you weigh them carefully against private options. [VERIFY]
Forgiveness is the main reason to keep federal loans. If you'll work for a nonprofit or qualifying employer, federal loans and programs like PSLF can be far more valuable than a lower private rate. [VERIFY]
Services that specialize in high-debt borrowers, like Student Loan Planner, can help you map a strategy before and after you borrow. A consultation can save you money over the life of your loans.
CLOSING
Borrowing for PA school is normal, but borrowing without a plan is where people get hurt. Get clear on whether forgiveness applies to you, compare your options honestly, and don't be afraid to ask an expert. If you want help thinking through the bigger application and career picture, our coaching team is here when you're ready.
Mock Interview → https://www.thepaplatform.com/services/mock-interview/
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