Wondering how to pay for your nursing education? Financial aid for nursing school is an important aspect to consider when deciding to pursue a nursing degree. Through exploring scholarships, grants and federal aid, you can make a financial plan for covering your nursing program costs.
Nursing is a noble profession and a worthwhile career, but for many, the main barrier to entry is paying for nursing school. Program fees, prerequisites, tuition and more can add up, which can be challenging when charting your future.
Luckily, there are plenty of ways to access financial aid for nursing school and make your dream more achievable. From filling out the FAFSA to researching grants and scholarships, these resources are here to support you as you pursue your nursing degree. Understanding the benefits of each can help you find which tools are right for you and make an education more accessible.
Understanding Financial Aid for Nursing Programs
A good place to start when considering financial aid for nursing school is to compile your resources. Options for financial aid are open to all students regardless of age, so regardless of where you are in life, you can apply for some type of financial aid. Some or all of these might apply to you, which is why it doesn’t hurt to look into multiple resources to see if you qualify for their specific type of aid.
- Free Application for Federal Student Aid or FAFSA – This is probably the best place to start when looking for financial aid options. Whether you think you’ll qualify for federal aid or not, the FAFSA will give you an idea of what kinds of other aid options you should look into. You might be surprised at the loans you qualify for.
- Grants and Scholarships – While these types of financial aid will most likely not be tied to the school you’re applying to, there are plenty of third-party organizations that offer financial aid through scholarships and grants. These will have different criteria required to apply, and they are not guaranteed, but scholarships and grants are beneficial because you don’t have to pay that money back after you’ve received your degree.
- Tuition Reimbursement – Some larger companies like hospitals and clinics might offer to pay for your tuition. Employers that have these types of programs in place might pay for employees to advance their degree or get certain certifications while working at the company. This is a great option if you are already working in the healthcare industry. Research your company’s policies to see if they provide these kinds of services.
- Private Loans – Lastly, you can look into traditional student loans to cover the cost of tuition. Banks and credit unions are a good place to start to research the different types of interest rates and terms associated with the loans. These loans will have to be paid back, and each organization will have different ways to construct payment plans to make sure you stay on track with paying these loans off.
Depending on the type of financial aid you choose to pursue, you can utilize multiple types of aid to cover the cost of nursing school tuition. While it might seem like a hassle to fill out the various forms or research scholarships, remember the bigger investment you’re making into your nursing program. You won’t regret the extra effort taken to minimize your out-of-pocket costs for nursing school.
FAFSA for Nursing School: What You Need to Know
The first step in applying for financial aid for nursing school starts with the FAFSA, which is how the government determines the amount you are expected to contribute based on how you fill out the form. Even if you don’t think you’ll end up applying for federal student aid or won’t need any kind of loan, completing the FAFSA process is critical because you might qualify for assistance that you didn’t know about.
Federal loans don’t need to be paid back while you’re still in school, and they are paid at a lower interest than that of private loans. This makes federal loans a great option for prospective nursing students.
Does FAFSA Cover Nursing School?
Federal aid from the FAFSA does apply to nursing schools, including traditional four-year Bachelor of Science in Nursing (BSN) programs and accelerated BSN (ABSN) programs. This aid is usually awarded on a first-come, first-served basis, so it is important for nursing students to fill the form out as soon as it opens. Keeping track of FAFSA deadlines will give you the best chance of getting the most financial aid and will minimize the amount of other financial aid avenues you’ll have to pursue. The FAFSA allows you to access several types of funding including scholarships, grants and loans to make a nursing education viable.
Finding Online Nursing Programs That Accept Financial Aid
Once you’ve filled out your FAFSA forms and assessed what scholarships, grants or loans you’ll need to cover your tuition, you can begin finding the nursing program that fits all your needs. Finding the solution to financial aid can be a tedious puzzle to solve, but it will all be worth it when you’re one step closer to achieving your BSN degree and starting your professional career.
Sorting out finances for nursing school can be challenging, but we’re here to help. Simply fill out our online form to be contacted by nursing schools that apply to you and your situation.
