Student Loan Repayment for Psychiatrists
Psychiatry is one of the fastest-growing specialties in medicine, with a median attending salary around $340K and exceptional PSLF access through community mental health centers (CMHCs), VA hospitals, and academic programs. With average debt of $230K, psychiatrists face a meaningful debt-to-income challenge that loan strategy can substantially mitigate.
$340K salary · 4-yr residency · pre-loaded
Key numbers
Avg med school debt
$230K
AAMC GQ 2025
Resident salary (PGY-1)
$64K
ACGME median
Residency length
4 yrs
No fellowship typical
Debt-to-income ratio
0.68x
Debt ÷ attending salary
Attending Salary Distribution
Source: Marit Health, Jun 2026 · Median used in calculator
Residency Salary Progression
| Year | Salary | Monthly IDR est.* |
|---|---|---|
| PGY-1 | $68K | ~$285/mo |
| PGY-2 | $70K | ~$304/mo |
| PGY-3 | $73K | ~$328/mo |
| PGY-4 | $78K | ~$363/mo |
* Salaries: AAMC 2025 national averages. IDR estimate assumes SAVE plan, single filer, no dependents.
PSLF Timeline
residencyFinish
residencyLoans
forgiven 🎉
With PSLF, loans forgiven after 10 years of qualifying payments — as early as Year 10 for psychiatry physicians.
Salary & IDR Estimate
$340K
Monthly
~$2,550/mo
Annual
~$30,600/yr
Estimate assumes SAVE plan, single filer, no dependents.
Run full calculationPSLF fit
Strong
Psychiatrists have unusually strong PSLF access: community mental health centers, VA hospitals, and state psychiatric facilities all qualify, and these represent a large share of psychiatric employment. Psychiatry's National Health Service Corps (NHSC) loan repayment eligibility adds another layer of loan-reduction options.
Check if your employer qualifiesRefinancing
When it makes sense
Refinancing is most relevant for psychiatrists in private practice or group settings without PSLF access. At $340K attending, aggressive repayment is feasible — debt-free in 5–7 years with focused effort.
Compare refinancing lendersPre-filled with Psychiatry defaults
See your exact repayment numbers.
Calculator opens with Psychiatry salary ($340K) and 4-year residency pre-loaded. Adjust any input — results update instantly.
Common questions
Psychiatry loan repayment, answered.
Is PSLF a good option for psychiatrists?
Yes — psychiatrists have some of the broadest PSLF-qualifying employment options in medicine. CMHCs, VA hospitals, academic medical centers, and state psychiatric facilities all qualify. Given the salary level relative to debt, the forgiveness amount is often significant (often $80K–$130K).
What is the NHSC loan repayment program for psychiatrists?
The National Health Service Corps (NHSC) offers up to $50K in loan repayment (or $75K in high-need areas) for psychiatrists who commit to 2 years of service at an approved health center. This can be stacked with PSLF and represents one of the fastest debt-reduction paths in the field.
How does a 4-year psychiatry residency affect loan repayment?
Four years of residency counting toward PSLF means only 6 more years of attending payments to reach forgiveness. On SAVE during residency, payments are minimal — $50–200/month — making those 4 years cost-effective even on a $64K stipend.
Should psychiatrists in private practice refinance?
Potentially yes. Private practice psychiatrists don't qualify for PSLF, so refinancing to a lower rate (often 4.5–5.5% for strong credit) and directing extra cash to loans can clear debt in 5–7 years. Run the numbers with your actual income before committing.
Free — no account required
Run your Psychiatry numbers.
PSLF vs aggressive payoff vs refinancing — modeled with your salary, debt, and training timeline. Adjust any input and results update in real time.