Optometry Debt Repayment Calculations

Only six percent of ODs did or expected to graduate with no debt from optometry school, according to a recent Women In Optometry pop-up poll. 

Many, however, carry significant debt. Among graduates from 2015 and more recently, nearly 70% carry debt of at least $200,000.

In its comprehensive 2026 Optometry Income Report, ODs on Finance found that “nearly 50% of ODs graduate with debt-loads of $200,000+, with an average of $225,250,” which was similar to the results from 2025.

“A more alarming trend we noticed when combing through the data, was that over 25% that had over $251,000+ most were new grads (0-5 years in practice), a drastic Increase from 2025,” the report states.

The Association for Schools and Colleges of Optometry (ASCO) noted the average educational indebtedness for graduate and professional school (not undergrad) in 2024-25 was $209,280, which is more than double the average educational indebtedness in 2000-01.

Plus, it will take most students many years to pay off their loans.

The most recent Annual Student Survey from the American Schools and Colleges of Optometry (2025-26) demonstrates how much the cost of optometry education has changed. 

RISING TUITION 

Graduate students entering optometry school this year will also face the federal student aid changes that were part of the One Big Beautiful Bill. In those reforms, graduate students in designated professional programs, which does include optometry, will be limited to borrowing $50,000 annually of a maximum graduate school cap of $200,000 in federally backed student loans. The American Optometric Association, educators and others are watching this issue, as well as any changes to loan repayment rules.

SURVEY RESPONSES

In the WO survey, ODs share how their loan repayment strategies were successful or bring them anxiety.

Here are some of those responses. Responses may have been edited for length or clarity.

“You can make great money coming out of school but have to work hard and aggressively to pay off the debt. Working extra shifts/Saturdays should be the expectation starting out for the first three-to-five years, or you might need to put a new car/house or even starting a family on the back burner to pay off debt. It is not easy but it will be worth it.”

“I was fortunate enough to take advantage of the student loan forgiveness when I had roughly $65k still to pay off. Working in nonprofit organizations allowed me to apply for the loan forgiveness program.”

“Both my wife and I are ODs. We refinanced for 25 years in 2002, and our rates were 2.5% and 2.75% so we were not in a hurry to pay them off. By consciously paying the minimum monthly so we could invest any money, we could make more in the market or investing in our practice.”

“It is amazing how critical those first few years after graduation are to the trajectory of your optometry school loans. I graduated during the Great Recession and struggled to find optometric employment for over a year. After contacting my loan servicers for help, they put my loans in forbearance (not deferment), and the interest kept accruing. By the time I found a position, all that accrued interest had been added to the principal, and I couldn’t keep up with monthly payments. I applied for an income-based repayment plan, which made my monthly payments manageable, but at a hefty cost. I watched as month after month the interest kept piling up. Now over 15 years, I’ve paid tens of thousands of dollars in interest, but haven’t made a dent in the principal.”

MORE EXPERIENCES

“I graduated in 2010 with $305,000 in student loan debt. To pay down off all of my debt in three years, I bought nothing, drove old terrible cars, no vacations and worked like mad—many seven-day weeks.”

“I’m very stressed. I’m 31 and trying to pay off my loans while living at my parents’ house. I thought an OD salary would making paying off loans somewhat manageable but with interest rates even after refinancing I’m continuously putting money towards my loans and feeling like they aren’t moving at all.”

“Paying off student loans early helped me save for retirement, instead of paying interest to the banks. I’m retiring early now with no loans.”

“My loans have been in deferment for the past five years. I’ve made some payments but not consistently. I’m almost 40 with the entire balance still remaining, and I’ve decided to change that. I’m selling my home, moving into a smaller less expensive area so I can live off my husband’s income only and use my income to pay this loan off in five years–before my oldest goes to college. I want financial freedom from this.”

“My philosophy is to enjoy life; 19 years after graduating with all of that debt, I would not change paying it off with minimum payments. A bonus to that philosophy is that I am wealthier now because I invested instead of paying off additional principal.”

View the full 2026 graduation package here.

Featured photo: Getty Images