Financial Resources

Start Early

Applying for scholarships can take time, so it’s best to start your search as early as possible. Some scholarships have deadlines a year before pharmacy programs even begin! The sooner you begin, the more options you’ll have.

Explore Different Types of Scholarships

Scholarships come in many forms, so don't limit yourself to just one type:

• Academic Scholarships: Awarded for high grades or strong test scores (like SAT or ACT).
• Community Service Scholarships: Recognize volunteer efforts and leadership.
• Minority and Diversity Scholarships: For students from underrepresented groups.
• Pharmacy-Specific Scholarships: Offered by pharmacy associations or schools. See below for two great scholarships offered by the American Association of Colleges.

Search Online

Use scholarship search engines like:

• Fastweb.com
• Scholarships.com
• You can also search directly on websites for pharmacy schools and organizations like the American Association of Colleges of Pharmacy (AACP) or the American Pharmacists Association (APhA).

Check with Pharmacy Schools

Pharmacy colleges and schools may offer financial assistance, or administer funds provided by local or state pharmaceutical associations, practicing pharmacists, drug manufacturers and wholesalers, memorial funds and foundations, alumni associations, local chapters of pharmaceutical organizations and fraternities, as well as general university funds allocated for this purpose. Contact the college or school of pharmacy of your choice for information. Pre-professional students may be eligible to receive similar assistance from the community colleges or universities they plan to attend before entering professional schools.

Check with Local Organizations

Many local community groups offer scholarships. Specifically, look for local health-related organizations that might sponsor students pursuing careers in healthcare.

Apply for FAFSA

Even if a scholarship isn’t guaranteed, filling out the Free Application for Federal Student Aid (FAFSA) can open the door to other financial aid, like grants and low-interest loans.

Focus on Essays and Recommendations

Many scholarships require essays and letters of recommendation. When writing essays, be authentic and show your passion for pharmacy. Ask teachers or mentors who know you well for strong letters of recommendation.

Stay Organized

Create a spreadsheet or calendar to track:

• Application deadlines
• Required documents
• Scholarship criteria

This will help you avoid missing deadlines and keep everything in order.

Don’t Get Discouraged

You may not get every scholarship you apply for, and that’s okay. Applying to multiple scholarships increases your chances of success—think of it like casting a wide net!

Consider Small Scholarships Too

Even small awards can add up. A few $500 scholarships can go a long way in covering books or fees, so apply for as many as possible.

Keep an Eye Out for Renewable Scholarships

Some scholarships offer funding for multiple years, but they often require you to maintain a certain GPA or meet other conditions. Be sure to follow up each year to keep these scholarships active.

With some effort and persistence, you can find the right scholarships to support your dream of becoming a pharmacist! Keep working hard, and remember: the more you apply, the better your chances.

Grants – Free Money!

Grants are great because they don’t have to be paid back. Here are some tips:

• Search early and often: Start applying in high school and continue each year of pharmacy
  school.
• Check federal and state grants: The Pell Grant is one example for undergraduates. Some
  states also offer pharmacy-specific grants.

Federal Loans – Borrowing from the Government

Federal loans are a common way to pay for pharmacy school. These loans must be paid back after you graduate, but they often come with lower interest rates and repayment plans designed to fit your income.

Direct Subsidized/Unsubsidized Loans:

For undergraduate and graduate students.

Direct Subsidized Loans

• Who can get them? Only undergraduate students with financial need.
• How they work: The government pays the interest on the loan while you’re
  in school and for the first six months after graduation (this is called the
  grace period).
• Why it’s good: Since the interest doesn’t build up while you study, the total
  amount you owe will be smaller.
• Example: If you borrow $5,000, that’s all you owe when you leave school—no extra interest added while you’re still in class.
• More information can be found here.

Direct Unsubsidized Loans

• Who can get them? Both undergraduate and graduate students, and
  financial need is not required.
• How they work: You’re responsible for all the interest that builds up on the
  loan, even while you’re still in school. However, you don’t have to start
  paying until after you graduate.
• Why it’s helpful: Since there’s no need requirement, anyone can apply,
  even if they don’t qualify for grants or scholarships.
• Example: If you borrow $5,000, interest starts adding up right away, so the
  total amount you owe may be more by the time you leave school.
• More information can be found here.

Graduate PLUS Loans:

• Who can get them? Graduate and professional students, regardless of
  financial need.
• How they work: You can borrow up to the total cost of attendance (including
  tuition, fees, books, and living expenses), minus any other financial aid you
  receive. The loan accrues interest from the moment it’s disbursed, even
  while you’re still in school. You don’t have to start paying back the loan until
  6 months after graduation (this is called the grace period).
• Why it’s helpful: If federal loans, scholarships, and grants aren’t enough to
  pay for school, a Graduate PLUS Loan can fill the gap. Like other federal
  loans, Graduate PLUS Loans offer income-driven repayment plans and
  forgiveness options, such as Public Service Loan Forgiveness (PSLF).
• Example: Let’s say your total pharmacy school cost for one year is
  $50,000, and you already received $20,000 from other loans and
  scholarships. You could take out a Graduate PLUS Loan for up to $30,000 to
  cover the rest. Even though interest starts adding up right away, you don’t
  have to make payments until 6 months after graduation, giving you time
  to focus on your studies first.
• More information can be found here.

Quick Comparison

• How to Apply: Fill out the Free Application for Federal Student Aid (FAFSA). This is required to be considered for federal loans, grants, and some scholarships.
• Apply for the Graduate PLUS Loan separately: You’ll need to fill out a PLUS Loan
  application on the Federal Student Aid website.

Balancing work and pharmacy school can provide financial support, professional experience, and networking opportunities but also presents challenges like time pressure and burnout. Here's how to manage both effectively:

Benefits of Working While Studying

• Financial Help: Cover tuition and personal expenses.
• Hands-On Experience: Gain real-world pharmacy knowledge.
• Build Connections: Network with professionals.
• Improve Skills: Develop time management and organization.

Challenges to Watch Out For

• Time Management Struggles: Pharmacy programs are demanding, with many hours of studying, exams, and labs.
• Burnout Risks: Trying to do too much may lead to exhaustion or burnout.
• Reduced Social Time: Balancing work, school, and personal life can leave little time for relaxation or social activities.

Tips for Finding Balance

• Limit Hours: Many students find that 10-15 hours a week is a manageable amount. Prioritize pharmacy-related jobs if possible, since they complement your studies.
• Work During Breaks: Consider working more hours during semester breaks or holidays and scaling back during exam periods.
• Choose Flexible Jobs: Look for employers (such as community pharmacies) that offer flexible scheduling around your classes and exams.
• Use a Planner: Keep track of shifts and assignments to avoid conflicts.
• Prioritize Self-Care: Maintain sleep, exercise, and downtime.

Good Job Options for Pharmacy Students

• Pharmacy Technician: Working as a technician provides insight into medication dispensing and builds essential pharmacy skills.
• Research Assistant: This role, often on campus, helps develop research skills and may offer opportunities to co-author papers.
• Tutor: If you're strong in subjects like chemistry or pharmacology, tutoring is a good way to earn money while reinforcing your knowledge.

Key Takeaways

• Communicate with Employers: Give notice about exams or school needs as early as possible.
• Set Boundaries: Don’t take extra shifts that interfere with studies.
• Seek Support: Use school resources if you are feeling overwhelmed.

Balancing work and school takes planning, but with the right strategy, you can succeed in both.

Loan Forgiveness Programs

A loan forgiveness program is a financial program that cancels or “forgives” all or part of a borrower’s loan, typically under specific conditions. These programs are often offered by the government, employers, or non-profit organizations and are usually designed to encourage individuals to work in certain fields, like public service, education, or healthcare, or to provide relief to those who are struggling to repay their loans.

Public Service Loan Forgiveness (PSLF) Program

Eligibility

• Employment at U.S.-based government organizations at any level (federal, state, local, or tribal)—includes the U.S. military
• Employment at not-for-profit organizations that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code, other eligible not-for-profit organizations
• Must be enrolled in an income-driven repayment plan
• Must still be working for a qualifying employer at the time you submit your form for
  forgiveness

Benefits

• The PSLF Program forgives the remaining balance on federal loans.

Planning Tips

• Minimum 10-year timeline
• Applies to federal loans only
• Applies after you’ve made the equivalent of 120 monthly payments (they do not have to be consecutive, and does not have to be with the same employer)
• Complete the Public Service Loan Forgiveness (PSLF) Form With the PSLF Help Tool

Contact

Loan Discharge and Forgiveness Customer Support – call: 1-888-303-7818

A State Loan Repayment Program (SLRP) is a type of financial assistance program offered by individual states in the U.S. to help healthcare professionals repay their educational loans. In exchange for this financial assistance, participants typically commit to working in areas that are underserved or have a shortage of healthcare providers, such as rural or low-income communities.

State Loan Repayment Program (SLRP)

Eligibility

• The State Loan Repayment Program provides cost-sharing grants to states and territories to operate their own loan repayment programs.

Benefits

• These programs offer loan repayment to primary medical, mental/behavioral, and dental healthcare clinicians working in Health Professional Shortage Areas (HPSA).

Planning Tips

• Eligible disciplines, practice sites, length of required service commitment, and the amount of loan repayment awards offered may differ by state/territory.

A tuition reimbursement program is a benefit offered by employers where they agree to pay for a portion or all of an employee’s educational expenses, typically for courses or degrees related to their job or career development. This benefit is designed to help employees further their education, develop new skills, and advance their careers while working for the company.

The Education Debt Reduction Program (EDRP)–Veterans Health Administration

Eligibility

• Earn a degree from an accredited Pharm.D. program
• Have qualifying education debt (principal and interest) accrued in training for one degree that qualifies you for the appointed position
• Maintain an acceptable level of performance in an appointed position during the EDRP service period
• Have an EDRP offer as a recruitment or retention incentive

Benefits

• Provides up to $40,000 a year—or $200,000 over a 5-year period—in loan repayment.
• Funds are tax-free and do not require a mandatory service agreement. If you choose to leave VHA before your 5 years are up, you don’t have to pay back any of the funds you’ve received.

Planning Tips

• EDRP eligibility is noted in vacancy announcements for VA positions. If you’re applying for noncompetitive positions, please inquire about the program with human resources prior to negotiation. If available, EDRP will be included in your VA employment offer letter.

Contact

VHA Workforce Management and Consulting Office Education Loan Repayment Services team – email: vhaedrpprogramsupport@va.gov

Indian Health Service (IHS) Loan Repayment Program (LRP)

Eligibility

• Must be a U.S. citizen
• Pharm.D. eligible
• Certified Pharmacy Technician eligible
• Males 18 years or older must be registered for Selective Service
• Obtain a health profession degree or are in your final year of academic/post-graduate clinical training
• Have a valid license to practice
• Committed to practice at an Indian health facility

Benefits

• The LRP awards repayment of up to $50,000 for qualified health profession education loans to clinicians who commit to practice in health facilities serving American Indian and Alaska Native communities for an initial two-year commitment.

Planning Tips

• Health profession students in their final year of post-graduate clinical training/school are eligible to apply before obtaining a license. However, you are not eligible for an award until you provide proof of licensure.
• Can begin service on or before September 30 for two continuous years of full-time clinical practice.
• If you accept an IHS LRP award, you cannot receive financial support from another government-funded program requiring the fulfillment of a service commitment that would run concurrently with your contracted LRP commitment.

Contact

Benjamin Nakai – email: benjamin.nakai@ihs.gov; call: 301-443-8822

National Institutes of Health (NIH) Loan Repayment Programs (LRPs)

Eligibility

• Must be a U.S. citizen, U.S. national, or permanent resident of the U.S. by the LRP award start date
• Qualifying Degree (Extramural programs only): Pharm.D.
• Qualified Educational Debt: Have total qualified educational debt equal to or in excess of 20 percent of your institutional base salary at the time of award. Institutional base salary is the annual amount you are paid for your appointment, whether the time is spent on research, teaching, patient care, or other activities. (Institutional base salary excludes any income that you may earn outside of the duties of the organization.)
• Qualified Research (Extramural programs only): Agree to conduct only research that is not prohibited by Federal law, regulations, or policies of the U.S. Department of Health and Human Services (HHS) or National Institutes of Health (NIH). If you receive an LRP award, you must conduct your research in accordance with applicable Federal, State, and local law (e.g., applicable human subject protection regulations) for the entire contract period
• Engage in qualified research for an average of at least 20 hours per week during each quarterly service period of your LRP award

Benefits

• The LRPs counteract that financial pressure by repaying up to $50,000 annually of a researcher’s qualified educational debt in return for a commitment to engage in NIH mission-relevant research.
• The repayment amount is equal to one-quarter of the total eligible educational debt, up to $50,000, for each year of the award. To receive the maximum amount of $100,000 for a two-year award, an applicant must have at least $200,000 in eligible educational debt at the start date of the contract.

Planning Tips

• Extramural LRP renewal awards can be one- or two-years.
• Payments are made on a quarterly basis, starting with the highest priority loan per NIH guidelines.
• It is not necessary for renewal applicants to satisfy the 20 percent debt-to-income requirement.

Contact

LRP Information Center – call: 866-849-4047; email: lrp@nih.gov; mailing address: 6700B Rockledge Dr, Suite 2300, Bethesda, MD 20892

Reserve Officers’ Training Corps – Health Professions Scholarship Program (ROTC-HPSP) Cooperative Pharmacy Program

Eligibility

• Pharmacists are eligible
• Active duty (includes a six-year service obligation)

Benefits

• 5–6 years of financial assistance for pharmacy education, graduate as an Officer

Planning Tips

• Talk to an Army Medical (AMEDD) recruiter to see if you’re eligible

Contact

Call: 1-888-550-ARMY (2769)

Navy Health Professions Loan Repayment Program

Eligibility

• Must be qualified for or hold an appointment as a commissioned officer in one of the health professions and sign a written agreement to serve on active duty for a prescribed time period
• Be fully qualified in a health profession that the Secretary of the Navy has determined to be necessary to meet identified skill shortages
• Must not be a current Health Professions Scholarship Program (HPSP) or Financial Assistance Program (FAP) participant
• Be enrolled as a full-time student in the final year of a course study at an accredited educational institution leading to a Pharm.D.

Benefits

• The maximum yearly loan repayment is $40,000, minus ~25% federal income taxes, which are taken out prior to lender repayment.
• Eligible to receive financial assistance up to $134,600 while finishing your residency.

Planning Tips

• All offers have many variables. To get details and find out which offer would benefit you most, request a recruiter contact you.

Contact

HPLRP Program Manager – call: 301-295-9977

HPLRP Analyst – call: 301-295-3172

Questions about the Application Process – email: USN.OHSTUDENT@HEALTH.MIL, use subject “HPLRP”

Call: 1-800-USA-NAVY

Find a Recruiter

National Health Service Corps (NHSC) Rural Community Loan Repayment Program

Eligibility

• U.S. citizen (U.S. born or naturalized) or the U.S. national
• A provider (or eligible to participate as a provider) in the Medicare, Medicaid and the State Children’s Health Insurance Program, as appropriate
• Fully trained and licensed to practice in the discipline and state in which you are applying to serve
• A health professional in pharmacy with qualified student loan debt for education that led to your degree
• Working, or have accepted a position, at a rural NHSC-approved substance use disorder (SUD) treatment facility by the application deadline
• Using either your NHSC-approved site’s mental or primary care Health Professional Shortage Area (HPSA) score

Benefits

• Up to $100K full-time for 3 years of service; up to $50K part-time for 3 years of service
• Up to $5,000 for clinicians who demonstrate Spanish-language oral proficiency. This is in addition to the maximum award amounts for each program for full- or half-time service
• Applies towards private loans

Planning Tips

• Compare National Health Service Corps (NHSC) programs
• Calculate HPSA Score

Contact

Health Resources & Services Corps (HRSA) National Health Service Corps – call: 1-800-221-9393

Hours: M–F | 8 a.m.–8 p.m. (except federal holidays)

National Health Service Corps (NHSC) Substance Use Disorder Workforce Loan Repayment Program

Eligibility

• U.S. citizen (U.S. born or naturalized) or a U.S. national
• A provider (or eligible to participate as a provider) in the Medicare, Medicaid, and the State Children’s Health Insurance Program, as appropriate
• Fully trained and licensed to practice in the NHSC-eligible discipline and state in which you are applying to serve. Pharmacists are included on the list of eligible disciplines and specialties
• A health professional in an eligible discipline with qualified student loan debt for education that led to your degree
• Working at an NHSC-approved SUD treatment facility with a HPSA score that would ordinarily be too low to qualify for NHSC funding
• Using either your NHSC-approved site’s mental or primary care Health Professional Shortage Area (HPSA) score

Benefits

• Up to $75K full-time for 3 years of service; up to $37.5K part-time for 3 years of service
• Up to $5,000 for clinicians who demonstrate Spanish-language oral proficiency. This is in addition to the maximum award amounts for each program for full- or half-time service.
• Applies towards private loans

Planning Tips

• Compare National Health Service Corps (NHSC) programs
• Calculate HPSA Score

Contact

Health Resources & Services Corps (HRSA) National Health Service Corps – call: 1-800-221-9393

Hours: M–F | 8 a.m.–8 p.m. (except federal holidays)

Health Resources & Services Administration (HRSA) Faculty Loan Repayment Program

Eligibility

• Identify as coming from a disadvantaged background (based on environmental and economic factors).
• Must have an eligible health professions degree or certificate such as a Pharm.D.
• Must be a faculty member at an approved health professions school. Must have a contract for two years or more.

Benefits

• Up to $40,000 in loan repayment assistance
• Provides funding to offset the tax burden

Planning Tips

• Check out the Faculty Loan Repayment Program fact sheet.
• Attend webinar and Q&A sessions.

Contact

Health Resources & Services Corps (HRSA) – call: 1-800-221-9393; TTY: 1-877-897-9910

Contact Form

Hours: M–F | 8 a.m.–8 p.m. (except federal holidays)