Physical therapy is one of the most education-intensive healthcare professions relative to starting salary. A DPT takes three years of graduate work after a bachelor’s degree, and most of that program is funded through student loans. Here’s what the current debt picture actually looks like, and what it means for your career math.

The median and the range

Based on APTA surveys and federal data, the typical DPT graduate carries roughly $140,000 to $170,000 in total student loan debt at the time of graduation. This includes both undergraduate and graduate loans, with the graduate portion accounting for the majority.

That’s the median. The distribution is wide:

• Graduates of in-state public programs often leave with $80,000–$120,000 in debt
• Graduates of out-of-state public or mid-priced private programs typically fall in the $150,000–$200,000 range
• Graduates of the most expensive private programs, particularly in high-cost metros, can carry $220,000 or more

For context, this debt load is comparable to other doctoral-level healthcare professions like pharmacy and optometry, and higher than most master’s-level programs. For a full breakdown of what drives these numbers, see our guide to physical therapy school cost.

Why the number is this high

Three factors drive DPT debt. First, program length: three years of graduate tuition plus living expenses compounds quickly. Second, limited ability to work during school: clinical rotations in years 2 and 3 make part-time work difficult for most students. Third, interest accrual during school: unlike some federal loan types, graduate Direct Unsubsidized Loans accrue interest from the day they’re disbursed. By graduation, the balance is typically 10–15% higher than the principal borrowed.

What the monthly payment actually looks like

On $150,000 of federal student loans at a 7% average interest rate:

• Standard 10-year plan: ~$1,740/month
• Extended 25-year plan: ~$1,060/month (total paid: ~$318,000)
• Income-driven repayment (SAVE/PAYE/IBR): payment scales with income, often $400–$900/month for a new grad
• Private refinance at 5%: ~$1,590/month (but forfeits federal benefits and forgiveness eligibility)

Most PT grads don’t actually pay the $1,740 nominal figure. Income-driven plans bring monthly payments into a manageable range, with the tradeoff of a longer timeline and higher total interest paid.

Debt-to-income: how PT compares

A useful metric is debt relative to first-year salary. For a typical new-grad PT: average starting salary of ~$85,000 and average debt of ~$150,000 produces a debt-to-first-year-salary ratio of roughly 1.76x. For comparison, the ratio for new physicians is often 0.6–0.9x. For new pharmacists, it’s roughly 1.5–1.8x. PT and pharmacy sit in a similar financial position at graduation.

The gap closes over time. PT salaries scale with specialization, certifications, and leadership roles, and debt paydown accelerates when a PT takes advantage of income-driven repayment combined with eventual forgiveness, employer loan assistance for PTs, PSLF for qualifying settings, or refinancing once established with stronger credit.

What meaningfully shrinks your debt

• Pick the least expensive CAPTE-accredited program you get into. The ranking difference between DPT programs is minor relative to the tuition gap.
• Minimize undergraduate debt. The cheapest DPT student is the one who entered with $0 undergraduate loans.
• Target a first employer with loan repayment assistance. A $5,250/year employer contribution shaves roughly 2–3 years off a typical payoff timeline.
• Avoid private loans unless you’ve exhausted federal options. Private loans don’t qualify for federal forgiveness or income-driven plans.
• Don’t defer past graduation without a plan. Interest keeps accruing. If you need lower payments, enter an income-driven plan immediately rather than using a forbearance.

Where Highbar fits

Highbar operates outpatient PT clinics across Rhode Island and Massachusetts. A meaningful portion of our hiring is new grads coming directly from the 19 CAPTE-accredited DPT programs in the region. We know the debt numbers our candidates are actually carrying, and we built our comp package to match that reality: competitive starting salary calibrated to the RI/MA market, employer-paid student loan repayment assistance, and the H-Share Plan — a growth-participation benefit giving every team member a financial stake in Highbar’s progress toward our 2032 vision of serving one million people annually.

If you want to see what a realistic new grad offer looks like, reach out to our Talent team.

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