How to pay for a health professions degree

1. Understand costs and future earnings

Paying for a graduate health professions degree starts with understanding the full financial picture—and what that investment may return over time. That means pairing total costs with realistic career outcomes.

Nearly 9 in 10 graduate students say they expect their degree to increase their earning potential — and most choose programs based on career impact, not just cost. Evaluating both sides of the equation helps you decide whether the investment makes sense for your goals.

Source: How America Pays for Graduate School

What are the average costs of a health professions degree?

Costs vary widely based on program type, residency status, and location.

Typical annual tuition ranges (approximate):

• Public universities (in-state): $15,000–$35,000
• Public universities (out-of-state): $30,000–$55,000
• Private institutions: $40,000–$70,000+

Many programs—such as PharmD, DPT, OTD, PA, and advanced nursing degrees—run two to four years. Total tuition over the life of the program may range from $60,000 to $200,000+, depending on the school and length.

Tuition is only part of the picture. Health professions students also face program-related expenses that can add up quickly, including:

• Clinical placement and lab fees
• Required equipment and medical supplies
• Licensing and certification exams
• Background checks and liability insurance
• Books, technology, and required software

When tuition and non-tuition expenses are combined, total annual costs often reach $40,000–$80,000+. Many students invest $100,000–$250,000 or more over the full program.

Why health professions degree costs vary

Health professions costs can look very different from one program to the next. Some key factors include:

• Public vs. private institutions
  Public schools may cost less for in-state residents, while private institutions often charge higher tuition—but sometimes offer institutional scholarships.
• In-state vs. out-of-state tuition
  Residency status can significantly change total costs over the life of the program.
• Degree level and program structure
  Doctoral-level programs often run longer than master’s programs, increasing total tuition and living expenses. If you’re still comparing paths, you may want to explore what a master’s degree is and whether it’s right for you.
• Clinical and licensure requirements
  Programs with extensive clinical training, specialized equipment, or multiple certification exams may carry higher overall costs.
• Geographic location
  Housing, transportation, and everyday living expenses vary widely by region.

How to find your full cost of attendance (COA)

Tuition doesn’t tell the whole story. A school’s cost of attendance (COA) includes estimated non-tuition expenses such as housing, transportation, insurance, and personal costs.

Before you commit, it’s worth comparing programs side by side so you can plan with fewer surprises. Tools like Scout College Search can help you compare schools and review estimated total costs—not just tuition.

What salary can I make in health professions?

Understanding potential earnings helps put program costs into context.

Healthcare salaries vary by specialty, setting, and experience.

Typical annual salary ranges (approximate):

• Registered nurses (advanced roles higher): $75,000–$120,000
• Physician assistants: $120,000–$140,000
• Pharmacists: $120,000–$150,000
• Physical therapists: $90,000–$110,000
• Occupational therapists: $85,000–$100,000
• Public health professionals: $60,000–$95,000

Early-career earnings may be lower during residencies, fellowships, or public health placements. Over time, many roles offer steady growth and strong demand nationwide.

Because outcomes vary, it’s important to think carefully about how much you plan to borrow and how that aligns with your intended career path. Remember, your return on investment isn’t only financial—it’s also the opportunity to improve lives for your patients.

2. Maximize free money

Free money should always be your first stop when figuring out how to pay for a health professions degree. Scholarships and grants can significantly reduce how much you need to borrow.

Federal aid and the FAFSA^®

The Free Application for Federal Student Aid (FAFSA) isn’t just for undergraduates. Completing it each year is required to access federal student loans and may also be used by schools to award certain grants or scholarships.

Even if you don’t expect need-based aid, filing the FAFSA keeps your options open. For step-by-step help, see our FAFSA Guide.

Health professions grants and service-based programs

Some health professions students qualify for grants or service-based funding tied to workforce or public health initiatives. These programs may offer tuition assistance, stipends, or loan repayment in exchange for service commitments—often in underserved communities.

For eligible students, service-based programs can meaningfully reduce long-term education costs.

Scholarships for health professions students

Scholarships can help lower the cost of your degree because they don’t need to be repaid—and you can apply for as many as you qualify for.

Start by exploring scholarships for graduate school and field-specific healthcare awards. Tools like Scholly Scholarships can help you find opportunities that match your background, academic interests, or career goals.

For an easy start, consider Scholly Easy Apply Scholarships and our $5,000 Grad School No Essay Scholarship. These options don’t require lengthy applications, and you can apply regularly without adding extra stress.

Applying for scholarships early—and continuing to apply throughout your program—can help maximize your free money and lower the amount you need to spend out of pocket or borrow.

3. Borrow smart

Even after scholarships and grants, many health professions students rely on loans to cover remaining costs. The goal is to borrow thoughtfully—so your loans support your future without limiting flexibility early in your career.

Federal vs. private student loans

Federal student loans are often a good starting point. They’re issued by the U.S. Department of Education and may offer options private loans don’t, such as income-driven repayment programs.

Private graduate student loans, offered by banks and other lenders, can help fill funding gaps once you’ve maximized scholarships, grants, and federal borrowing. 

What federal student loans are available for health professions students?

Graduate health professions students may qualify for Direct Unsubsidized Loans, which don’t require a credit check or cosigner. Interest gets added on while you’re in school, and you're responsible for paying it in full.

Because of recent changes to federal loans, the graduate PLUS loan will no longer be available as of July 1, 2026.

Know the new federal loan limits

Understanding how federal loan caps work can help you build a smarter funding plan from the start.

Starting July 1, 2026, lower federal borrowing limits apply:

• Professional degree students: Up to $50,000 per year ($200,000 lifetime)
  Professional degrees include medicine, dentistry, pharmacy, veterinary medicine, optometry, podiatry, chiropractic, and clinical psychology.
• Graduate students: Up to $20,500 per year ($100,000 lifetime)

Because many health professions programs exceed these limits—and the federal PLUS loan program has ended—students may need to plan for a funding gap. To understand what’s changing and how to plan around it, read how to navigate federal loan changes.

Using private graduate student loans to fill the gap

When scholarships, savings, and federal aid aren’t enough, private health professions loans can play a strategic role. Some students explore the Sallie Mae® health professions loan for graduate students alongside federal aid to help cover remaining costs. Graduate student loans may also be an option for other healthcare or science paths.

Before you borrow...

• Review your federal aid offer: Look at the breakdown of grants and federal loans, then figure out what you'll still need to cover.

• Factor in upcoming changes to federal loans: Understand if you’re affected and if you need to adjust your funding plan. For details, check out Sallie Mae's guide to PLUS loan changes.

• Think long term: Consider how your expected earnings and job prospects line up with how much you plan to borrow. Use a loan calculator to estimate your payments ahead of time.

Borrowing smart isn’t just about choosing the lowest rate — it’s about creating a plan that fits your goals, your budget, and your future. For more tools and resources to help you borrow confidently, explore Sallie Mae's Student Loan Guide.

More ways to pay for a health professions degree

In addition to scholarships and loans, you may be able to reduce costs through:

• School-based or institutional aid
• Government or public service programs
• Military education benefits
• Employer tuition assistance through healthcare systems

Exploring multiple funding sources can help reduce what you need to borrow.

Journey into healthcare with confidence

A thoughtful funding plan can give you more flexibility as your healthcare career takes shape. By understanding total costs, maximizing scholarships and grants, and borrowing only what you need, you can move through your program with greater confidence.

Your investment isn’t just financial. It’s preparation for work that supports patients, strengthens communities, and creates long-term impact. With the right plan in place, you can focus less on funding stress—and more on the meaningful career ahead.