Becoming a licensed pharmacist is a financially challenging endeavor – applications, score transfers, exam,, study materials, and other fees can quickly add up and cause stress and strain during an already overwhelming period of time. In order to help combat surprise fees and that additional stress, it is important to consider building a budget alongside your licensing timeline. Here is an overview of some tips that may be helpful while navigating the licensing process.
Overview of Licensing Costs For 4th Year Pharmacy Students
It is important to know and prepare for the price of both the NAPLEX and the MPJE, since they are arguably the most important part of the licensing process. To apply for the NAPLEX and MPJE, the National Association of Boards of Pharmacy (NABP) charge a $100 application fee for each of the exams. Once you are authorized to take these exams, there is an additional fee of $520 for the NAPLEX, and $170 for the MPJE. The breakdown of the costs is also discussed in the NABP’s Bulletin, which discusses the application and testing process and is located on their website. If you’re considering multiple state licenses, NAPLEX test score transfers are available 89 days after the exam date. Waiting until you know your result can prevent you from having to pay that transfer fee twice. Additionally, you may also be required to apply for licensure through your state’s board of pharmacy, which is typically between $100-$400. This can include background checks, fingerprinting, test score transfers between states, and other additional fees. Once you pass your exams, states may charge to issue you your license, which can also vary between $100-$400. It is also easy to forget small costs, such as ordering transcripts or notarization. Knowing the general cost can help you begin planning your budget, as well as your overall licensing timeline.
Licensing costs for most pharmacy students will range in the $1,500 to $2,000 range for many students depening upon number of state licensures, score transfers, fees, and study materials.
Planning & Timeline
At this point, it may be beneficial to make a running list of all the licensing expenses and their deadlines. Licensing-related expenses do not happen all at once, which gives you ample time to prepare and decide what should be done first. In many cases, the applications for the NAPLEX and MPJE, as well as the application through the state board of pharmacy should be done as soon as possible. Once you have graduated and the board of pharmacy has confirmed your eligibility, you will then have to pay the NAPLEX and MPJE testing fee. It is critical that you have a good understanding of the licensing process for your state(s) so you can plan ahead.
Budgeting Strategies
Building a simple budget for licensing expenses can help make the whole process feel more manageable. Once you have your running licensing expense list and a good idea of your state(s) application process, you can decide the best way to begin saving. Many students set aside a small amount each month during rotations if they can, or they use graduation gifts or tax refunds in order to cover the larger costs. Paying for certain costs over time instead of all at once can also reduce strain. This can help the whole licensing process not feel as overwhelming, while also helping you stay on track and avoid missing a step or important deadlines. With a clear budget and a realistic timeline, you will be able to navigate each step with confidence and stay focused on the exciting new transition into your pharmacy career.
The Real Life Pharmacology Podcast is a great place to start for free pharmacology reviews. If you are looking at creating a budget for study materials, here’s the link to our content to get an estimate for NAPLEX study packages.
This article was written by Kaylee Poppen, PharmD Candidate in collaboration with Eric Christianson, PharmD, BCPS, BCGP
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