{"id":15181,"date":"2022-10-24T12:30:12","date_gmt":"2022-10-24T17:30:12","guid":{"rendered":"https:\/\/www.fitbux.com\/articles\/?p=15181"},"modified":"2023-01-03T15:29:38","modified_gmt":"2023-01-03T21:29:38","slug":"pay-physician-assistant-school","status":"publish","type":"post","link":"https:\/\/www.fitbux.com\/articles\/pay-physician-assistant-school\/","title":{"rendered":"How to Pay for Physician Assistant School"},"content":{"rendered":"<p style=\"font-weight: 400;\">Going to Physician Assistant school can be very expensive. <a href=\"https:\/\/www.fitbux.com\">FitBUX<\/a> members that are a Physician Assistant on average have $180,000 in student debt.<\/p>\n<p style=\"font-weight: 400;\">According to <a href=\"https:\/\/www.bls.gov\/ooh\/healthcare\/physician-assistants.htm\" target=\"_blank\">Bureau of Labor Statistics (BLS)<\/a>, the average Physician Assistant salary for 2021 was $121,530 while the job outlook is way above average for the next decade at a growth rate of 28% expected.<\/p>\n<p style=\"font-weight: 400;\">However, the pay for an entry level Physician Assistant is less. We typically see new graduates making between $90,000 and $110,000.\u00a0 This is why going to a relatively <a href=\"https:\/\/www.fitbux.com\/articles\/cheapest-physician-assistant-schools\/\">less expensive physician assistant school<\/a> pays off massively in the long run.<\/p>\n<p style=\"font-weight: 400;\">Thinking of how to pay for this degree may be a bit discouraging. However, don\u2019t be discouraged because I\u2019m going to review how to pay for Physician Assistant school below.<\/p>\n<h2>Scholarships and Grants<\/h2>\n<p style=\"font-weight: 400;\">The optimal way to pay for Physician Assistant school is through scholarships and grants.\u00a0 The reason is you don\u2019t have to pay cash out of pocket. You also do not have to repay them.<\/p>\n<p style=\"font-weight: 400;\">Many scholarships require an application and can be found online. The <a href=\"https:\/\/www.bls.gov\/ooh\/healthcare\/physician-assistants.htm\" target=\"_blank\">AAPA Foundation offers more than $2 million in scholarships every year<\/a>. Many people know about scholarship opportunities but don\u2019t try to apply for them.<\/p>\n<p style=\"font-weight: 400;\">If you have financial hardship, Pell Grants are another way that could help tremendously. You are automatically considered to get one when you submit your FAFSA.<\/p>\n<p style=\"font-weight: 400;\">The max amount you can get a semester for the \u201921-\u201922 school year is $6,495.<\/p>\n<h2>National Health Service Corps<\/h2>\n<p style=\"font-weight: 400;\">This next option to pay for Physician Assistant school comes after you graduate.<\/p>\n<p style=\"font-weight: 400;\">This is a unique loan forgiveness option that is specific to health care professions such as Physician Assistant.<\/p>\n<p style=\"font-weight: 400;\">The <a href=\"https:\/\/www.fitbux.com\/articles\/nhsc-loan-repayment\/\">NHSC offers up to $50,000 in forgiveness<\/a> for any Physician Assistant that works in an NHSC approved facility.\u00a0 Most of these facilities are located in high-need, underserved areas.<\/p>\n<h2>Federal Student Loans and Repayment Strategies<\/h2>\n<p style=\"font-weight: 400;\">One of the most common ways to pay for Physician Assistant school are student loans.<\/p>\n<p style=\"font-weight: 400;\">Federal debt will be your best option.\u00a0 They:<\/p>\n<ul>\n<li>Have fixed rates;<\/li>\n<li>Are more flexible because they have multiple repayment options, and<\/li>\n<li>Usually have lower interest rates than private loans.<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">After graduation you pick a repayment option. \u00a0You will be picking between 10 different options.<\/p>\n<p style=\"font-weight: 400;\">To make choice easier for you, at <a href=\"https:\/\/www.fitbux.com\/student-loan-planner\/\">FitBUX<\/a> we break these 10 options into two strategies. The <a href=\"https:\/\/www.fitbux.com\/articles\/pay-off-student-loans-fast\/\">payoff strategy<\/a> and the loan forgiveness strategy.\u00a0 Forgiveness is also referred to as an <a href=\"https:\/\/www.fitbux.com\/articles\/income-based-repayment\/%5d\">income-driven repayment plan<\/a>.<\/p>\n<p style=\"font-weight: 400;\">If you need help deciding which option is best for you, <a href=\"https:\/\/www.fitbux.com\/\">become a member of FitBUX<\/a> then give us a call.\u00a0 You can chat with a <a href=\"https:\/\/www.fitbux.com\/fitbux-coach\/\">FitBUX Coach<\/a> for free. Our Coaches will be able to show you <a href=\"https:\/\/www.fitbux.com\/articles\/pay-off-student-loans-fast\/\">how to pay off your loans the fastest<\/a> using various tricks!<\/p>\n<p style=\"font-weight: 400;\">Another option to repay Federal student debt would be <a href=\"https:\/\/www.fitbux.com\/articles\/public-service-loan-forgiveness\/\">Public Service Loan Forgiveness<\/a> (PSLF). To qualify for this, you need to:<\/p>\n<ol>\n<li>Work full-time at a non-profit;<\/li>\n<li>Be on an <a href=\"https:\/\/www.fitbux.com\/articles\/income-driven-repayment\/\">Income Driven Repayment Plan<\/a> such as PAYE or REPAYE; and<\/li>\n<li>Make 120 qualifying payments.<\/li>\n<\/ol>\n<h2>Private Student Loans<\/h2>\n<p style=\"font-weight: 400;\">One of the last resorts you\u2019ll want to use to pay for Physician Assistant school are private student loans.<\/p>\n<p style=\"font-weight: 400;\">This should be a last resort because:<\/p>\n<ol>\n<li>You have no flexibility because there is no forgiveness;<\/li>\n<li>You have no flexibility because there is only one repayment option;<\/li>\n<li><em>Usually,<\/em> the interest rates are quite a bit higher than the federal loans are; and<\/li>\n<li>Most of the time the interest rate is a variable rate.<\/li>\n<\/ol>\n<h2>Get a Plan to Pay for Physician Assistant School<\/h2>\n<p style=\"font-weight: 400;\">It\u2019s a great idea to start budgeting what you need on a month-to-month basis while you are in school.\u00a0 This will allow you to know how much you need to pay for Physician Assistant school.<\/p>\n<p style=\"font-weight: 400;\">From there you can <a href=\"https:\/\/www.fitbux.com\/financial-planning-college-students\/\">build a financial plan as a student<\/a> that incorporates your expenses.\u00a0 This will help you determine and reduce the amount of student debt you use.<\/p>\n<p style=\"font-weight: 400;\">At FitBUX, we\u2019re all about planning for the future and putting yourself in the best positions possible. We have a <a href=\"https:\/\/www.fitbux.com\/financial-planning-college-students\/\">financial planning technology that will help you while you\u2019re in school<\/a>.<\/p>\n<p style=\"font-weight: 400;\">You can even compare repayment options post graduation.<\/p>\n<p style=\"font-weight: 400;\">Also, as I mentioned above, if you need help you can schedule a free call with a FitBUX Coach as part of our free membership!<\/p>\n<p><em style=\"font-weight: 400;\">By David Hughes and Joseph Reinke, <\/em><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.cfainstitute.org\/\" target=\"_blank\"><em>CFA<\/em><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Going to Physician Assistant school can be very expensive. FitBUX members that are a Physician Assistant on average have $180,000 in student debt. According to Bureau of Labor Statistics (BLS), the average Physician Assistant salary for 2021 was $121,530 while the job outlook is way above average for the next decade at a growth rate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1898,7,1900],"tags":[2013,2045,1979,1897,2010,47,706,2012,2011,1989,319,101],"class_list":["post-15181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-planning-archive","category-student-loans-archive","category-student-money-archive","tag-education-planning","tag-federal-student-loans","tag-financial-freedom","tag-financial-planning","tag-fitbux","tag-income-based-repayment","tag-income-driven-repayment","tag-pa","tag-physician-assistant","tag-private-student-loans","tag-pslf","tag-public-service-loan-forgiveness","post-wrapper","thrv_wrapper"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - 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