How to Finance a Nursing Degree

October 25, 2012 in Nursing Scholarships

nursing school financing

Let’s get down to the nitty gritty, one of the main reasons you may not be in school heading toward a career in helping others is that financially it is tough.  Nursing is not for everyone in the first place, but there are many of you out there who would love the opportunity to obtain a nursing degree.  Yes, nursing school may be a bit expensive, but there are many ways to finance this well-worth career.  You have grants, scholarships, loans, work-study and even loan forgiveness programs that are readily available; you just need to know where to find them.

Grants:  Nursing grants is, for all intents and purposes, free money.  The federal government provides thousands of grant programs for nurses, since the shortage nation-wide is growing.  By securing a student grant, it can help you save hundreds or even thousands of nursing school dollars.  Most often by completing a FAFSA application when you apply to school, you are automatically considered for grants.

Scholarships:  Scholarships is another great way to ease the financial burden.  Nursing scholarships are somewhat competitive, but they are also monies that do not have to be paid back.  There are different requirements with the different scholarships, so carefully look for those that fit your specific needs.  It may be a scholarship for a specific course of study or one where you are an active participant in a certain organization.  Apply to all the scholarships you can if you meet their requirements.  The more you apply to, the better you chances at getting one or more.

Nursing students also have professional associations according to their specialties that may also give scholarships to qualified individuals.  Some associations like the Oncology Nursing Society will offer scholarships to students pursuing a master’s, doctorate, or a post-mater’s certificate.

Other scholarship resources may include:  religious organizations, private and public schools, small businesses, large corporations, community groups and other philanthropic foundations.

Work Study Programs:  Work-study programs help students finance their education by working in on-campus jobs, community related jobs or assisting teachers.  These awards usually depend on financial need and of course school funding availability.  To be considered for work-study, indicate it when completing the FAFSA form.

Student Loans:  Loans for college is money that you have to pay back, but it is an investment in your future.  Making that investment now can pay off later with a higher income.  These loans have lower interest rates because of the regulations the federal government puts on them.  This helps when it is time to pay them back starting six months after graduation.

Loan Forgiveness Programs:  Loan forgiveness programs help students pay back their nursing college loans as they work in a nursing setting.  It allow you to gain valuable nursing experience in a hospital setting, get paid for you work and get reimbursed for you nursing school education.

This program is funded by government agencies to help areas in the country that are desperate for nurses.  In exchange for nursing services, the program offers to pay back or forgive student loan debt.

As you can see there are many options to help with a nursing school education.  Look into any or all of them and see if this is the answer you have been looking for.  Good luck.

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *