Impact of Student Loan Debt on University of Arizona R. Ken Coit College of Pharmacy Alumni

Abstract

Specific Aims: To examine the financial areas affected by student loan repayment, average time to pay off student loan debt, and the effects student loans have on quality of life. Methods: Qualtrics survey administered to alumni from the four-year Doctor of Pharmacy program at The University of Arizona R. Ken Coit College of Pharmacy. Results: Questionnaires were completed by 33 eligible participants. The average quality of life score was 6.5 for pharmacists currently paying off student loans, with a projected quality of life score of 9 after repayment. Lastly, the level of stress and anxiety was the only statistically significant (p=0.004) finding between pharmacists who have paid off loans vs those that have not. Conclusions: A career as a pharmacist has personal and monetary benefits, however the financial burden of student debt can have negative effects on quality of life.