Step 1- Get into nursing school.
Step 2- Pay for it.
Getting into nursing school is no small challenge, and neither is paying for it. With tuition and class sizes on the rise, figuring out how to pay for nursing school is on the minds of students, faculty, and administrators across the nation. Most students know the basics; fill out FASFA forms, work with the financial aid office, and talk with family and friends about borrowing money to pay for school. While these are great places to start, these methods don’t typically cover the full bill.
The truth of the matter is that many students are paying for school with student loans. There are tons of loan options, but a good rule of thumb is to apply for federal loans before applying for private loans. Federal loans do not have to be paid until students graduate or leave school, they often have a fixed interest rate, and there are multiple repayment options.* A California college student told me, “I worked part time when I started, but once my course load got heavier I had to stop working. Taking out student loans was easier than figuring out how to work, be in school, and pay for school.” Student loans seem to be part of the student experience nowadays, but there are other ways to get help on tuition costs.
Scholarships and grants are given to students through individual nursing programs, from the state, and on a federal level. Getting a scholarship can be a very competitive process, but nursing students are used to stiff competition, right? Scholarship committees typically require students to submit financial information, grades, and an essay. The purpose is to see if the student is an appropriate fit for the scholarship and to see if the student aligns with the organization’s mission and goals. Many organizations have restrictions and requirements to apply. Some scholarships offer extra goodies like the Arizona Nurses Foundation scholarship where selected nursing students are awarded $1000 and a Kaplan NCLEX Course scholarship! Scholarships are given from religious organizations, large corporations, and even community groups. Another nursing student from California told me she was “very lucky because my dad served in the Navy, and I was able to use a CalVet Tuition Fee Waiver throughout college. This waived tuition at the community college I attended and the Cal State that I attend now. I was granted a Cal Grant in my second year of nursing school, and I’ve received it again. I was surprised to receive one; it just goes to show that it is worth it to apply.” This is a good rule of thumb to follow. Surprisingly, many scholarship programs do not end up awarding monies, because they don’t find a qualified candidate. So apply, apply, apply! Dedicated faculty members and folks in the Financial Aid office at nursing schools stay on top of what scholarships are available for their students, but students can also see what is available online. Most schools have great resources on their Financial Aid homepage, and many states have websites where students can see what state money or awards are available to them. Another great place to look for grants and scholarships is through nursing student associations and student groups. The California Nursing Students Association keeps its members up to speed on scholarship opportunities and Money Matters; other student groups list similar resources.
Working while going to nursing school is tough and typically not recommended but there are plenty of work-study programs open to nursing students. Work study programs not only help nursing students gain clinical experience and build their résumé, but they also help pay for nursing school. Nationwide Children’s Hospital in Columbus, OH offers various work study programs and is consistently accepting applications. There are even rare opportunities for nursing school to be paid for in full by an employer or hospital. Some students are lucky enough to land a job at one of these hospitals and get their education paid for!
Paying for nursing school is a big commitment and often times an expensive one. There are countless resources available to students who need help funding their education. Nursing is a dynamic field that offers flexibility, benefits, and plenty of opportunities for growth and development. Nursing degrees have a very high return on investment. Like Coach Art Williams told his players, “I’m not telling you it is going to be easy; I am telling you it’s going to be worth it.” Paying for nursing school is no easy task, but the result is worth it.
*Source: http://studentaid.ed.gov/types/loans/federal-vs-private
