Key Points
- Students looking for health profession school loans have two options: Federal Direct Loans and private student loans.
- New caps on federal student loans may lead more students to private loans.
- Private student loans can be a good choice for highly qualified borrowers.
If you’re going to graduate school to become a health professional, the borrowing landscape has changed. The reason is that most health-related graduate degrees are considered graduate school, not professional school. Professional school is limited to medicine, pharmacy, optometry, podiatry, clinical psychology, and chiropractic medicine.
Meanwhile, fields like nursing, physician assistants, physical therapy, occupational therapy, and audiology are health professional graduate fields.
The trouble with graduate health programs (and graduate school in general) is there are not a lot of “financial aid” options available beyond student loans. Before you dive into health professional student loans, make sure you do understand your options – both how you’re going to pay for school and what aid may be available.
You should also do a lot of research on what type of health you’re interested in and what salaries look like, so you understand whether getting a graduate degree is worth it. Because, sadly, only 63% of health science graduate degrees pay off financially.
The best degrees come in nursing, medical assistants, and clinical medical sciences. The worst include mental and social health services, public health, and dietetics and clinical nutrition.
If you already know most of your options and are simply looking to find the best private student loans, check out Credible and compare your options in 2 minutes with no credit check. Try Credible here.
Let’s dive in.
The Order Of Operation To Pay For Health Professional School
There is a smart order of operations on how to pay for a graduate degree in health sciences, and it doesn’t start with student loans. Before you ever embark on a health program, you need to consider the ROI (return on investment) of your education.
The goal of an advanced degree should be to move your career (and earnings potential) forward.
In that case, you need to asses how much you’d potentially pay out of pocket (hopefully next to nothing) given your salary.
When it comes to calculating the ROI of going to college, it’s all about how much you’re going to spend, and how much debt you’re going to take on. Follow this chart from best to worst to get an idea of how to pay for your graduate school program.
Scholarships and Grants
Direct Student Loans
Private Student Loans
It’s always important to analyze what you need for your own situation. But we suggest starting your research by going through different scholarships and grants which might be available through your state or college directly.
Scholarships and Grants
The first place to start when paying for graduate school is scholarships and grants to pay for college. Scholarships and grants work a little different on the graduate level.
There are no Pell grants or other federal student aid for graduate school (except for loans).
If you want to find scholarships and grants, you have to search for them. Some states are offering special programs and grants to help pay for some health science degrees if you commit to working in shortage areas.
If you don’t know where to start, talk to your graduate admissions counselor and your department to see what might be available.
Best Student Loans For Health Professional Graduate School
Once you get to looking at student loans, there’s another order of operations to follow. You should start with Direct Student Loans, then consider private loans.
Graduate Direct Student Loans
Graduate direct student loans are the best federal student loans a graduate borrower is going to get. To get a federal student loan, you need to apply for the FAFSA, which is the Free Application For Federal Student Aid. Once you complete the application, your school’s financial aid office will let you know about your Federal student loan options.
Health science students can borrow up to $20,500 per year, and $100,000 in aggregate. Health science programs are considered graduate school as part of the new OBBBA loan limits.
Note: It’s important to remember that many of these programs are only 2 year programs. That means your effective limit would be $41,000 – not $100,000.
Interest will accrue on these loans while you’re in school and you’ll have to start making payments 6 months after graduation. That’s why after years of advising students and families on which loan is best for them, if you have questions while doing research, you can reach out to The College Investor if you want to get specific advice or read my guide on how to find the best student loans.
The great thing about federal loans is that they offer a wide range of benefits: income-driven repayment and loan forgiveness. Loan forgiveness for public service can be especially helpful if you work for the local, state, or federal government – which many health professionals do!
Private Graduate Student Loans
Sadly, many health professionals cannot solely rely on federal loans to pay for the cost of college because of the graduate loan limits.
Either they exhaust federal loan limits due to their school’s cost, they need more funds to cover living expenses while attending school, or they need more time to complete their education (which increases cost).
Others may find more value in taking on private loans given their excellent credit and ability to repay. In this case, private student loans may be a cheaper alternative due to low interest rates and excellent borrower programs.
We recommend borrowers shop and compare the best private student loans. We love Credible for a few reasons. They allow you to see your options in minutes with no credit check. The compare most of the major lenders. And they make the process of getting a private loan super easy.
Here are three other options to consider:
Abe Healthcare Professional Student Loans
Abe Student Loans offers private student loans to a undergraduate, graduate, and post-bachelor graduate certificate students, with flexible repayment options and no origination, late payment, or forbearance fees. Students can use the funds from an Abe student loan to cover the cost of expenses such as tuition, room and board, books and supplies, transportation, and other personal expenses during their time at school.
Read our full Abe Student Loans review here.
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Abe℠ Student Loan Details |
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|---|---|
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Product Name |
Abe℠ Student Loans |
|
Min Loan Amount |
$1,000⁴ |
|
Max Loan Amount |
Cost of Attendance⁴ |
|
Variable APR |
3.53% – 15.91% APR¹ ² |
|
Fixed APR |
2.75% – 15.61% APR¹ ² |
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Loan Terms |
5, 7, 10, 15, & 20 years⁵ |
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Cosigner Required |
No |
Ascent Health Professional Student Loans
Ascent Student Loans is a solid choice as a private lender – as they offer great graduate student loans. They also offer a solid loan amount range from $2,001 – $400,000*, competitive rates, and easy repayment terms.
They offer loans starting at just $2,001* minimum, and they offer 48 month loan deferment while in school, and a grade period to postpone full principal and interest payments up to 36-months after graduation, up to 9-months after leaving the program, or otherwise dropping to less-than-half-time enrollment.
Read our full Ascent Student Loans review here.
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Ascent Student Loans |
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|---|---|
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Product Name |
Ascent Health Professional Loan |
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Min Loan Amount |
$2,001 |
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Max Loan Amount |
$400,000 |
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Variable APR |
4.42% -15.38% APR |
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Fixed APR |
3.49% – 15.46% APR |
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Loan Terms |
5, 7, 10, 12 15, or 20 years |
|
Promotions |
None |
Sallie Mae Health Professional Student Loans
Sallie Mae is probably one of the most well-known lenders on this list. They are the nation’s largest private student loan lender by loan volume. As a result, they also offer some of the most competitive health professional loans out there.
You can take out Sallie Mae student loans starting at just $1,000 (which is one of the lowest) and can borrow up to the total cost of education². Sallie Mae has a variety of repayment plans to select from, they offer 48 months of deferment during your residency and fellowship⁴, and 12-months of interest-only payments after your grace period⁵.
Read our full Sallie Mae review here.
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Sallie Mae Student Loans |
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|---|---|
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Product Name |
Sallie Mae Law School Loan |
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Min Loan Amount |
$1,000 |
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Max Loan Amount |
Up to 100% of the school-certified expenses² |
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Variable APR |
3.75% to 13.38% APR¹ |
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Fixed APR |
2.89%-14.99% APR¹ |
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Loan Terms |
10 or 15 years |
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Promotions |
None |
Final Thoughts
As you can see, there are several options to navigate when it comes to paying for a health professional graduate school programs. And you don’t need to totally rely on student loans (though it’s likely you will).
Sadly, many graduate health professionals do need to rely on both federal and private loans, simply due to the costs.
Just make sure that you really understand the ROI on your education before you borrow too much.
FAQs
What credit score is needed for private health professional graduate school loans?
Each lender has different standards for private health graduate school loans. However, most private student loans will require a minimum credit score of 680. The best rates will be offered to borrowers with credit scores above 780.
Can I pay interest while in school to reduce debt?
Yes! If you pay interest on your grdaute school loans while in school, it will help lower the long term costs of the loan. However, we don’t recommend it, especially if you’re going to pursue loan forgiveness.
Are student loan payments tax-deductible?
The interest portion of your student loan payments are tax deductible via the student loan interest deduction.
Are there state based graduate loan programs?
Yes, several states offer graduate loans via their state-based non-profit lenders.
Abe Student Loans
Before applying for a private student loan, DR Bank and Monogram LLC recommend exhausting all financial aid alternatives including grants, scholarships, and federal student loans.
The AbeSM student loan is made by DR Bank, Member FDIC (“Lender”). All loans are subject to individual approval and adherence to Lender’s underwriting guidelines. Program restrictions and other terms and conditions apply. LENDER AND MONOGRAM LLC EACH RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. TERMS, CONDITIONS AND RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.
* In order to estimate your available rates and loan options, with your authorization, DR Bank will initiate a soft credit inquiry. Soft credit inquiries do not affect your credit. Any rates and loan options offered to you are estimates only.
1Interest rates and APRs (Annual Percentage Rates): Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the expected number of years in deferment, (4) the requested loan amount and (5) other information provided on the online loan application Rates and terms are effective as of 02/01/2026. The variable interest rate for each calendar month is calculated by adding the 30-Day Average Secured Overnight Financing Rate (“SOFR”) index plus a fixed margin assigned to each loan. The current SOFR index, published on the website of the Federal Reserve Bank of New York, is 3.75% as of 02/01/2026. The applicable index or margin for variable rate loans may change over time and result in a different APR than shown. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for an interest rate discount, or receive In-School Default Protection (see footnote 3). APRs displayed as a range: APRs assume a $10,000 loan with one disbursement. The low APRs assume a 7-year term, and the Interest-Only Repayment option with payments beginning 30-60 days after the disbursement via auto pay (see footnote 2). The high APRs assume a 5-year term with the Interest-Only Repayment option, a 31-month deferment period, and a six-month grace period before entering repayment.
2Autopay Discount: Earn a 0.25% interest rate reduction for making automatic payments from a bank account (“auto pay discount”) by completing the direct debit form accessible on the Servicer’s website. The auto pay discount is in addition to other discounts. The auto pay discount will be applied after the Servicer validates your bank account information. Automatic payments and the associated discount will be temporarily discontinued (1) if you elect to stop automatic deduction of payments and (2) during periods when you are not required to make payments. The discount will be permanently discontinued in the event three automatic deductions are returned by the financial institution for any reason.
3 In-school Default Protection: Interest Only or Flat Payment Repayment loans that reach at least 90 days delinquent during an in-school deferment period will automatically transition to the Full Deferment Repayment option. Under these circumstances, the interest rate on an original Interest Only loan will increase by one percentage point (1.00%) and the interest rate on an original Flat Payment Repayment loan will increase by one quarter of one percentage point (0.25%). Credit reporting prior to the transition of a loan to the Full Deferment Repayment option will remain on your record. Any unpaid accrued interest at the end of an in-school deferment period may be capitalized in accordance with the Credit Agreement.
4 Loan Amounts: The minimum loan amount is $1,000, except for (a) student applicants who are permanent residents of Iowa in which case the minimum loan amount is $1,001, and (b) student applicants or cosigners who are permanent residents of Massachusetts in which case the minimum loan amount is $6,001. The maximum loan amount to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, as certified by the school. The requested loan amount cannot cause an individual applicant’s aggregate maximum student loan debt (which includes federal and private student loans), to exceed $225,000. On a specialty graduate loan (Dental, Medical, Healthcare, Law and MBA) the loan amount cannot cause the aggregate maximum student loan debt to exceed $350,000.
5 Loan Terms: The 15- and 20- year term and Flat Payment Repayment option (paying $25 per month during in-school deferment) are only available for loan amounts of $5,000 or more. Making interest only or flat interest payments during deferment will not reduce the principal balance of the loan. Payment examples (all assume a 14-month deferment period, a six-month grace period before entering repayment, no auto pay discount, and the Interest Only Repayment option): 5-year term: $10,000 loan, one disbursement, with a 5-year repayment term (60 months) and a 9.30% APR would result in a monthly principal and interest payment of $209.04. 7-year term: $10,000 loan, one disbursement, with a 7-year repayment term (84 months) and a 6.50% APR would result in a monthly principal and interest payment of $148.49. 10-year term: $10,000 loan, one disbursement, with a 10-year repayment term (120 months) and a 6.35% APR would result in a monthly principal and interest payment of $112.76. 15-year term: $10,000 loan, one disbursement, with, a 15-year repayment term (180 months) and a 6.30% APR would result in a monthly principal and interest payment of $86.02. 20-year term: $10,000 loan, one disbursement, with, a 20-year repayment term (240 months) and an 8.38% APR would result in a monthly principal and interest payment of $86.02.
6 The student borrower has meet certain credit and other criteria, and 12 consecutive monthly principal and interest payments or lump sum payments equal to 12 monthly principal and interest payments must have been received by the Servicer during any 12-month period. While a loan is in a reduced repayment plan or while a request for a reduced payment plan is pending, borrowers are not eligible to apply for cosigner release.
7 The grace period is six months. The grace period begins on the earlier of the date (a) the student borrower graduates, (b) the student borrower ceases to be enrolled, or (c) that is 60 months from the first disbursement date, but in no case, earlier than six months after the first disbursement date. The immediate repayment option does not have a grace period.
Ascent Student Loans
*Ascent’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, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs.
Annual Percentage Rates (APRs) displayed are effective as of 2/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
Interest Only Repayment: 6.17% APR, with 57 payments of $51.42 while in-school/grace, 60 payments of $194.14 during the repayment term, and a total cost of $14,580.18.
$25 Minimum Payment: 6.76% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $238.17 during the repayment term, and a total cost of $15,715.33.
Deferred Repayment: 6.94%, with no payment while in-school/grace, 60 payments of $274.33 during the repayment term, and a total cost of $16,442.48.
Immediate Repayment: 4.17% APR, with 60 payments of $184.94, and a total cost of $11,096.48.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
Interest Only Repayment: 14.58% APR, with 57 payments of $121.42 while in-school/grace, 180 payments of $137.06 during the repayment term, and a total cost of $31,592.42.
$25 Minimum Payment: 13.51% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $220.02 during the repayment term, and a total cost of $41,030.37.
Deferred Repayment: 14.34%, with no payment while in-school/grace, 180 payments of $266.71 during the repayment term, and a total cost of $47,302.81.
Immediate Repayment: 14.33% APR, with 60 payments of $135.38, and a total cost of $24,369.53.
Sallie Mae
¹Rates displayed are for graduate school student loans:
Lowest rates shown include the auto debit discount: Additional information regarding the auto debit discount: 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. *These rates will be effective 1/26/2026.
Terms:
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.
² 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.
⁴ To apply for this deferment, customers and an official from the internship, clerkship, fellowship, or residency program must complete and submit a deferment form to us for consideration. If approved, deferment periods are issued in up to 12-month increments. Customers can apply for and receive a maximum of four 12-month deferment periods. Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.
⁵ GRP allows interest-only payments for the initial 12-month period of repayment when the loan would normally begin requiring full principal and interest payments or during the 12-month period after GRP request is granted, whichever is later. At the time of GRP request, the loan must be current. The borrower may request GRP only during the six billing periods immediately preceding and the twelve billing periods immediately after the loan would normally begin requiring full principal and interest payments. GRP does not extend the loan term. If approved for GRP, the Current Amount Due that is required to be paid each month after the GRP ends will be higher than it otherwise would have been without GRP, and the total loan cost will increase.
Editor: Colin Graves
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