PA Student Loan Information from the PAEA Student Report
The PAEA has released its most recent student report showing median amount for outstanding education loans for PA students is $93,000.
The Physician Assistant Education Association (PAEA) is the national organization that represents PA educational programs. It recently released its Student Report 1 which complied results from two surveys: the 2016 PAEA matriculating Student Survey (MSS) and the 2016 PAEA End of Program Survey (EOPS).
Results from the two surveys showed that prior to entering PA school the median amount of outstanding loans was $28,000 from the MSS and $25,000 from EOPS.
The majority of students survey anticipated some additional debt from attending PA school. Of the students surveyed 7.3% anticipated having $0 debt from attending PA school. Most students expected some debt with 22.4% anticipating $75,000 – $99,999 and 21.7% anticipating $100,000 – $124,999 of total debt from attending PA school. 1.8% of students surveyed anticipated $200,000 or more in debt from attend PA school, which was the highest category.
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Only 33% of students surveyed received scholarships, stipends or grants, which actually is more than what I would expect. The median amount for scholarships, stipends and grants was $5,000, so even though some students received these types of aid, it was probably not enough to cover the cost of PA school.
The cost of PA education is not a small amount. There appears to be some opportunities for funding beyond student loans but the vast majority of PA students rely on student loans to pay for their education. If you’re wanting to limit the amount you have to pay back you should look at ways you can save while in PA school or look at options to have someone else pay for your education.
Other topics also covered in the report include prior health care employment prior to PA school, education background of PA students and health and well being of PA students. For the complete report visit http://paeaonline.org/wp-content/uploads/2017/07/Student-Report-2017.pdf.
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