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 DPTSchoolLoans Data Team | Updated March 2026
The largest annual DPT funding gap in 2026 is $104,733 at Anderson University, where the Cost of Attendance reaches $125,233 against a federal loan cap of just $20,500. Across all 206 DPT programs in our dataset, 100% have a gap between their Cost of Attendance and the new federal borrowing limit. The average gap is $33,647 per year.
Which DPT programs have the largest annual funding gap?
The OBBBA legislation eliminated Grad PLUS loans effective July 1, 2026, capping graduate students at $20,500 per year in federal Direct Unsubsidized Loans. For DPT students, this creates a funding shortfall at every single program in the country.
The scale of these shortfalls varies enormously. At the top of the list, Anderson University's DPT program carries a total Cost of Attendance of $125,233 per year, with tuition alone at $100,170. At the other end, the least expensive program in our dataset still costs $69,789 over its full duration. Even that program exceeds the federal cap. For full cost data on all 206 programs, see every DPT program ranked by cost.
Here are the 20 DPT programs with the largest annual funding gaps:
| Institution | Status | Annual COA | Tuition | Living Expenses | Annual Gap | Total Gap |
|---|---|---|---|---|---|---|
| Anderson University | Full-Time | $125,233 | $100,170 | $23,263 | $104,733 | $314,199 |
| University of Southern California | Full-Time | $115,963 | $86,125 | $28,044 | $95,463 | $286,389 |
| Franklin Pierce University | Full-Time | $99,860 | $57,408 | $41,128 | $79,360 | $238,080 |
| University of Arizona | Out-of-State | $93,590 | $58,550 | $35,040 | $73,090 | $219,270 |
| Boston University | Full-Time | $90,734 | $69,870 | $19,862 | $70,234 | $210,702 |
| Northwestern University | Full-Time | $89,639 | $56,367 | $32,736 | $69,139 | $184,601 |
| Saint Joseph's University | Full-Time | $86,696 | $52,654 | $23,263 | $66,196 | $198,588 |
| Mount Saint Mary's University | Full-Time | $83,894 | $58,080 | $23,263 | $63,394 | $190,182 |
| Western University of Health Sciences | Full-Time | $83,363 | $51,816 | $31,312 | $62,863 | $188,589 |
| Northeastern University | Full-Time | $81,466 | $57,408 | $23,700 | $60,966 | $182,898 |
| Midwestern University-Glendale | Full-Time | $81,055 | $48,490 | $31,500 | $60,555 | $151,388 |
| Concordia University Ann Arbor | Full-Time | $81,049 | $68,175 | $12,800 | $60,549 | $181,647 |
| Univ. of Oklahoma Health Sciences | Out-of-State | $80,245 | $45,229 | $35,016 | $59,745 | $179,235 |
| William Carey University | Full-Time | $80,058 | $36,501 | $43,557 | $59,558 | $178,674 |
| Baylor University | Online | $79,408 | $58,500 | $20,608 | $58,908 | $176,724 |
| Midwestern University-Downers Grove | Full-Time | $79,038 | $50,975 | $27,000 | $58,538 | $175,614 |
| Columbia University | Full-Time | $78,395 | $41,741 | $29,380 | $57,895 | $173,685 |
| University of Kentucky | Out-of-State | $77,506 | $50,638 | $26,868 | $57,006 | $171,018 |
| Ithaca College | Full-Time | $76,710 | $53,432 | $23,263 | $56,210 | $140,525 |
| Stanbridge University | Full-Time | $76,402 | $29,003 | $45,409 | $55,902 | $111,803 |
Several patterns stand out. High tuition is the primary driver at schools like Anderson ($100,170) and USC ($86,125), but living expenses tell their own story. Franklin Pierce University charges $57,408 in tuition, yet its $41,128 in living expenses pushes the total COA to nearly $100,000. William Carey University has one of the lower tuitions on this list at $36,501, but $43,557 in living expenses still creates a $59,558 annual gap.
Also worth noting: out-of-state students face some of the steepest gaps. The University of Arizona's out-of-state DPT students face a $73,090 annual shortfall, and Oklahoma Health Sciences' out-of-state students face $59,745.
📊 Your Funding Gap These are the worst cases. Where does your program fall? → Calculate Your Gap →
How is the DPT funding gap calculated?
The math is simple. The gap equals your program's full Cost of Attendance minus the $20,500 annual federal loan cap.
Before the OBBBA, DPT students could borrow up to the full Cost of Attendance through a combination of Direct Unsubsidized Loans ($20,500/year) and Grad PLUS loans (up to the remaining COA). The new law eliminates Grad PLUS lending entirely. It also sets a $100,000 aggregate limit on graduate borrowing across all programs and a $257,500 lifetime limit combining undergraduate and graduate debt.
For a typical three-year DPT program, the federal math breaks down like this:
- Maximum annual federal borrowing: $20,500
- Maximum over 3 years: $61,500
- Aggregate limit hit? No (under $100,000)
- Median total DPT program cost: $156,060
- Federal coverage over 3 years: $61,500
- Median total gap: roughly $94,560
That median figure is telling, but it obscures how bad things get at the extremes. Anderson University's three-year total cost is $375,699. Federal loans cover $61,500 of that. The remaining $314,199 must come from somewhere else.
Even the aggregate limit deserves attention. A student who already holds $40,000 in graduate federal loans from a prior program would only be eligible for $60,000 more in Direct Unsubsidized Loans. If that student then enrolls in a three-year DPT program, they would max out their aggregate cap partway through year two, leaving the entire third year without federal funding.
What does a $104,733/year gap actually mean for students?
The numbers in the table above are abstract until you connect them to real salaries. Physical therapists entering the workforce earn between $80,000 and $90,000 per year. Let's put the DPT funding gap in that context.
A student graduating from Anderson University's DPT program faces a total cost of $375,699. Even if federal loans cover $61,500, the remaining $314,199 must be financed through private loans, family contributions, savings, or some combination. If most of that balance ends up in private loans at a 9% interest rate over a 20-year repayment term, the monthly payment exceeds $2,800.
On an $85,000 starting salary, gross monthly income is about $7,083. That single loan payment consumes nearly 40% of gross pay, well above the 20% threshold that financial planners consider manageable.
But Anderson is the extreme. What about the average DPT student?
The mean total program cost across all 206 DPT programs is $161,354. Subtract $61,500 in federal loans and the average student still needs roughly $100,000 from other sources. On an $85,000 salary, this produces a debt-to-income ratio approaching 2:1, one of the worst in allied health professions.
This ratio is a core reason physical therapy has emerged as one of the most-discussed "regret" degrees in healthcare. The training is rigorous, the work is demanding, and the pay, while respectable, has not kept pace with ballooning program costs. The new $20,500 cap does not cause the underlying cost problem. It reveals it. Our DPT ROI analysis explores when the math works and when it breaks down.
Here's how the total cost picture looks for the most expensive programs over their full duration:
| Institution | Years | Total Cost | Federal Loans (Max) | Total Gap |
|---|---|---|---|---|
| Anderson University | 3.0 | $375,699 | $61,500 | $314,199 |
| University of Southern California | 3.0 | $347,889 | $61,500 | $286,389 |
| Franklin Pierce University | 3.0 | $299,580 | $61,500 | $238,080 |
| University of Arizona (OOS) | 3.0 | $280,770 | $61,500 | $219,270 |
| Boston University | 3.0 | $272,202 | $61,500 | $210,702 |
| Saint Joseph's University | 3.0 | $260,088 | $61,500 | $198,588 |
| Mount Saint Mary's University | 3.0 | $251,682 | $61,500 | $190,182 |
| Western University of Health Sciences | 3.0 | $250,089 | $61,500 | $188,589 |
| Northeastern University | 3.0 | $244,398 | $61,500 | $182,898 |
| Concordia University Ann Arbor | 3.0 | $243,147 | $61,500 | $181,647 |
Every program on this list leaves a total funding gap above $180,000. That is more than double the starting salary for a new DPT.
How do students cover the gap?
With federal borrowing capped at $20,500 per year, DPT students have a limited set of options to cover the remaining cost. None of them are painless.
Private student loans will likely become the primary vehicle. Private lenders are already expanding their graduate product lines in response to the OBBBA changes. But private loans typically carry variable interest rates, lack income-driven repayment options, and offer fewer forbearance protections than federal loans. For a student borrowing $100,000 or more privately, the long-term cost will be significantly higher than the same amount would have been under Grad PLUS.
Institutional scholarships and grants vary widely across programs. Some DPT programs offer merit-based awards that can reduce tuition by $5,000 to $15,000 per year. Others offer almost nothing for doctoral-level students. The availability and size of these awards differ so much by institution that students should request specific scholarship data from each program before committing.
Employer sponsorship and tuition assistance represent a growing but still uncommon option. Some hospital systems and rehabilitation networks offer tuition reimbursement for employees who pursue a DPT, sometimes in exchange for a post-graduation work commitment. These arrangements can offset $10,000 to $30,000 per year but often come with geographic or employment restrictions.
Family support and personal savings fill the remaining space. For students without access to family wealth, this option barely exists. The three-year, full-time structure of most DPT programs makes significant outside employment impractical.
Military and Public Health Service programs offer full tuition coverage for a small number of students willing to commit to multi-year service obligations. The Health Professions Scholarship Program (HPSP) and National Health Service Corps are competitive, but they eliminate the funding gap entirely for those who qualify.
The common thread: every alternative carries trade-offs that Grad PLUS loans did not. Students accustomed to borrowing up to the full COA through federal programs now face a fragmented funding environment where covering the gap requires multiple sources and careful planning.
Across all 7,191 graduate programs in our broader dataset, 95.2% have some level of funding gap under the new caps. Among DPT programs specifically, the figure is 100%. Physical therapy is one of the few fields where not a single program falls within the new federal borrowing limit.
📊 Your Funding Gap Calculate your DPT funding gap → Calculate Your Gap →
Frequently Asked Questions
What is the average DPT funding gap?
The average annual DPT funding gap is $33,647, based on a mean Cost of Attendance of $54,147 per year against the $20,500 federal cap. The median annual gap is $31,595. Over the full length of a program, the mean total cost is $161,354, with total costs ranging from $69,789 at the lowest to $375,699 at the highest.
Do all DPT programs have a funding gap?
Yes. Of the 206 DPT programs in our dataset across 151 institutions, every single one has a Cost of Attendance that exceeds the $20,500 annual federal loan cap. The gap rate for DPT is 100%, compared to 95.2% across all 7,191 graduate programs nationally. No other major health professions field has a higher coverage rate of affected programs.
Can scholarships reduce the gap?
Scholarships can reduce the gap, but they rarely eliminate it. Even a generous $20,000 annual scholarship at a program with the median COA of $52,095 would still leave a gap of $11,595 per year after the federal cap. At the most expensive programs, the gap remains well above $50,000 annually even with significant scholarship support. Contact your program's financial aid office directly to ask about institutional awards, and use our calculator to model different scholarship amounts against your specific program's Cost of Attendance.