This article is for informational purposes only and does not constitute financial advice. Data sourced from official university Cost of Attendance publications and federal legislation (Public Law 119-21, Title VIII, Sec. 81001).
By The PASchoolLoans Data Team | Updated March 2026
The largest annual PA funding gap in 2026 is $96,500 at Chamberlain University-Illinois, where the Cost of Attendance hits $117,000 per year against a federal Direct Unsubsidized Loan cap of just $20,500. Across all 177 PA programs tracked, 100% have a gap between their Cost of Attendance and the federal cap. The average annual shortfall is $41,842.
Which PA programs have the largest annual funding gap?
Every single PA program in the United States costs more than federal loans will cover. That's not hyperbole. Of the 177 programs in the dataset, all 177 produce a funding gap. Zero exceptions.
The One Big Beautiful Bill Act (OBBBA) preserved the $20,500 annual cap on Direct Unsubsidized Loans for graduate students but eliminated Grad PLUS loans as of July 2026. For PA students, this creates a collision between a $20,500 borrowing limit and programs that routinely cost $60,000 to $117,000 per year.
Here are the 20 PA programs with the largest annual funding gaps:
| Institution | Degree | Status | Annual COA | Tuition | Living Expenses | Annual Gap |
|---|---|---|---|---|---|---|
| Chamberlain University-Illinois | MPAS | Full-Time | $117,000 | $102,000 | $15,000 | $96,500 |
| University of California-Davis | MHS | Full-Time | $108,650 | $75,747 | $32,903 | $88,150 |
| Tufts University | MPA | Full-Time | $105,969 | $60,881 | $45,088 | $85,469 |
| Franklin Pierce University | MPAS | Full-Time | $103,920 | $55,120 | $47,600 | $83,420 |
| Loma Linda University | MPA | Full-Time | $103,271 | $74,015 | $29,256 | $82,771 |
| University of Southern California | MPAP | Full-Time | $103,098 | $73,260 | $28,044 | $82,598 |
| Marquette University | PA | Full-Time | $101,120 | $76,608 | $24,512 | $80,620 |
| South University-Tampa | MS | Full-Time | $100,332 | $58,525 | $24,512 | $79,832 |
| Midwestern University-Glendale | MMS | Full-Time | $99,998 | $67,433 | $31,500 | $79,498 |
| UC San Diego | MAS | Full-Time | $98,933 | $59,286 | $37,233 | $78,433 |
| Hofstra University | PA | Full-Time | $98,532 | $69,520 | $24,512 | $78,032 |
| Thiel College | MS-PAS | Full-Time | $97,420 | $59,188 | $24,512 | $76,920 |
| Elon University | MS | Full-Time | $96,259 | $63,464 | $32,580 | $75,759 |
| U. of South Florida | MPAS | Out-of-State | $96,159 | $67,579 | $28,580 | $75,659 |
| Pacific University | MS | Full-Time | $92,428 | $67,916 | $24,512 | $71,928 |
| University of New Haven | MMS | Full-Time | $91,839 | $61,152 | $24,512 | $71,339 |
| Baylor University | MPAS | Online | $91,025 | $69,999 | $20,726 | $70,525 |
| Northwestern University | MMS | Full-Time | $90,378 | $57,231 | $32,736 | $69,878 |
| Wake Forest University | MMS | Full-Time | $89,892 | $47,363 | $38,904 | $69,392 |
| AdventHealth University | MSPA | Full-Time | $89,291 | $36,481 | $45,635 | $68,791 |
Look at the top of that list. Chamberlain's tuition alone is $102,000 per year. Federal loans cover roughly one-fifth of that. UC Davis, Tufts, and Franklin Pierce all exceed $83,000 in annual shortfall. Even the 20th program on this list, AdventHealth University, leaves you nearly $69,000 short every year.
The median annual gap across all 177 programs is $39,562. That means the typical PA student faces a roughly $40,000-per-year hole that federal loans won't fill. For full cost data on all 177 programs, see every PA program ranked by cost.
📊 Your Funding Gap These are the worst cases. Where does your program fall? → Calculate Your Gap →
How is the PA funding gap calculated?
The math is simple, even if the result is painful.
Annual Funding Gap = Cost of Attendance − $20,500
Cost of Attendance (COA) includes tuition, mandatory fees, and a university-estimated living expense budget covering housing, food, transportation, health insurance, and personal costs. It's the figure schools are required to publish and report to the Department of Education.
The $20,500 cap is the maximum annual amount a graduate student can borrow through the Direct Unsubsidized Loan program. Before the OBBBA legislation took effect, students could bridge any remaining cost through Grad PLUS loans, which allowed borrowing up to the full COA. That option is now gone.
There are also hard ceilings to consider. The aggregate limit for Direct Unsubsidized Loans is $100,000 (including any undergraduate borrowing, with a $65,500 sub-cap on subsidized loans). The lifetime cap across all federal student loans is $257,500 for graduate students not in medical or dental programs. PA students fall into this graduate category, not the professional category that medical students occupy.
Here's what this means in practice: a student at Chamberlain University-Illinois with an annual COA of $117,000 and a two-year program faces a total cost of $234,000. Federal loans cover $41,000 of that (two years × $20,500). The remaining $193,000 must come from somewhere else.
And program length matters enormously. A three-year program at Franklin Pierce pushes the total cost to $311,760, the highest in the dataset. Federal loans cover $61,500 over three years. Total gap: $250,260.
What does a $96,500/year gap actually mean for students?
Let's put the numbers in context.
PAs typically start at around $125,000 per year with strong job growth projected over the next decade. The long-term return on investment remains solid. But between acceptance and that first paycheck sits a funding chasm that will reshape how students finance their education.
Consider a student admitted to one of the top 10 programs on the annual gap list. The average annual COA for just those 10 schools is $103,532. Federal loans cover $20,500. That leaves $83,032 per year to fund through other sources.
Over the full length of the program, the picture gets worse. Here are the 10 programs with the largest total funding gaps:
| Institution | Years | Total Cost | Federal Loans | Total Gap |
|---|---|---|---|---|
| Franklin Pierce University | 3.0 | $311,760 | $61,500 | $250,260 |
| University of Southern California | 3.0 | $309,294 | $61,500 | $247,794 |
| UC San Diego | 3.0 | $296,798 | $61,500 | $235,298 |
| Pacific University | 3.0 | $277,284 | $61,500 | $215,784 |
| Baylor College of Medicine | 3.0 | $265,734 | $61,500 | $204,234 |
| University of California-Davis | 2.25 | $244,462 | $46,125 | $198,337 |
| High Point University | 3.0 | $255,861 | $61,500 | $194,361 |
| Mississippi State University | 3.0 | $254,787 | $61,500 | $193,287 |
| Chamberlain University-Illinois | 2.0 | $234,000 | $41,000 | $193,000 |
| Marquette University | 2.33 | $235,610 | $47,765 | $187,845 |
Franklin Pierce tops this list at $250,260 in total unfunded costs. That's a quarter of a million dollars that cannot come from federal student loans. USC and UC San Diego follow at $247,794 and $235,298 respectively. All three are three-year programs, which compounds the gap. See the full breakdown in our most expensive PA programs ranking.
Notice something: Chamberlain has the largest annual gap ($96,500) but ranks ninth in total gap ($193,000) because it's a two-year program. Franklin Pierce, with a lower annual gap of $83,420, accumulates a far larger total shortfall over three years. Both the annual and total figures matter when you're planning.
The mean total cost across all 177 PA programs is $143,141. The median sits at $134,557. With federal loans covering $20,500 per year, the mean total gap reaches roughly $102,000 to $122,000 depending on program length. For programs at the top of the list, it can exceed the $257,500 lifetime federal loan limit all on its own.
How do students cover the gap?
Before July 2026, the answer was simple: Grad PLUS loans. Students could borrow up to the full COA from the federal government with a credit check but no hard underwriting. That single mechanism papered over the gap for virtually every PA student in the country.
That mechanism no longer exists. Understanding the OBBBA funding gap is now required reading for anyone entering a PA program. Here are the realistic options students face, each with its own constraints.
Private student loans. These will become the primary gap-filling tool for most PA students. Private lenders set their own interest rates, often require a creditworthy cosigner, and may not offer income-driven repayment or forgiveness options. A student at USC with a $247,794 total gap will need to qualify for significant private borrowing, likely across multiple disbursements over three years.
Institutional scholarships and grants. PA programs do offer merit and need-based aid, but the amounts vary wildly. Some programs offer $5,000 to $15,000 total. A few offer more. At a program where the annual gap exceeds $70,000, even a generous $20,000 scholarship still leaves $50,000 per year unfunded. Scholarships help, but they rarely close the gap.
Employer sponsorship and military programs. The military's Health Professions Scholarship Program (HPSP) covers tuition and provides a stipend, but comes with a service obligation. Some hospital systems offer tuition assistance in exchange for post-graduation employment commitments. These programs are competitive and limited in number.
Personal savings and family support. The data makes clear that many students will need to rely on savings, family contributions, or both. A student who has saved $30,000 and receives $10,000 in scholarships at a program with a $70,000 annual gap still faces $30,000 per year in private borrowing.
Working during PA school. PA programs are full-time, typically 27 months of continuous didactic and clinical coursework. Most programs explicitly prohibit or strongly discourage outside employment. Clinical rotations can mean 40+ hours per week at unpaid or minimally compensated sites. Employment income during the program is not a realistic funding source for most students.
The math forces an uncomfortable conclusion. For the median PA program with a $39,562 annual gap over a roughly 2.25-year program, the total shortfall is approximately $89,000. For top-cost programs, it's double or triple that figure. Every student needs a specific, program-level plan before they enroll.
The PA profession's salary trajectory remains strong. The job market is growing. But the bridge between "admitted" and "earning $125,000" just got significantly more expensive to build, and the tools available to build it just got fewer.
Your funding plan needs to start with your exact number. Not the average. Not the worst case. Yours.
📊 Your Funding Gap Calculate your PA funding gap → Calculate Your Gap →
Frequently Asked Questions
What is the average PA funding gap?
The mean annual funding gap across all 177 PA programs is $41,842. The median is $39,562. Total program costs average $143,141, with the median at $134,557. Since federal loans cap at $20,500 per year, even the least expensive PA programs in the dataset produce a gap. The cheapest program has a total cost of $48,063, still well above what federal loans cover over a single year.
Do all PA programs have a funding gap?
Yes. All 177 PA programs in the dataset have a funding gap under the post-OBBBA rules. That's a 100% gap rate, compared to 95.2% across all 7,191 graduate programs nationwide. PA programs are uniformly above the $20,500 annual federal cap, with no exceptions. The question is not whether you'll have a gap but how large yours will be.
Can scholarships reduce the gap?
Absolutely, but they rarely eliminate it. The median annual gap is $39,562. A $10,000 annual scholarship reduces that to $29,562, which still requires significant private borrowing or other funding. Scholarships from professional organizations like AAPA, state PA associations, and individual programs can all contribute. The most effective approach combines multiple smaller awards. Use our calculator to see how scholarship amounts change your specific gap.