Financial aid available to nursing students includes grants, loans, and scholarships for new nurses as well as those returning to school. Earning a degree in nursing is a significant accomplishment. However, nursing school can be costly, and lack of funds might prevent many prospective students from attending. Luckily, there is assistance available to help students pay for nursing school. Here is a list of the answers to frequently asked questions regarding obtaining financial help for nursing school.
Can I Get Financial Aid For Nursing School?
Yes. Students attending nursing school can most certainly receive financial aid. Professional nursing associations and specific colleges provide funds to help pay for nursing school. Students must apply for financial aid through FAFSA, and there may be income requirements. Students may also inquire with their schools to determine if they are eligible for any other type of financial aid. It is also essential to know that each school has its own qualifications.
Where Do I Apply For Financial Aid?
If you want to apply for financial aid, the first step is to fill out a FAFSA or Free Application for Federal Student Aid. You will need to supply some basic information during the application to prove your eligibility for grants and student loans. For example, you will need to verify your income through the IRS to apply for federal student aid. Students under the age of 21 who also live at home will use their parent’s income to complete the FAFSA.
Next, you should check with your college. You will typically speak directly to someone who provides students with information on financial aid. The Federal government recognizes accredited colleges and distributes financial assistance to students through Pell grants and student loans. Colleges that don’t offer federal financial assistance usually provide their own packages to assist students in paying their expenses during the semester.
What Types of Student Financial Aid Are Available For Nursing Students?
There are usually several different types of aid available for nursing students. Scholarships, Grants, Loans, and Work-study programs are the main types of financial help for nursing students. In addition, since there is such a shortage of nurses, the federal government has extra funds available to help train new nurses. Students are encouraged to apply for every kind of aid for which they are eligible.
- Scholarships are for students who meet specific criteria, such as making excellent grades or attending particular programs. Scholarships don’t need to be repaid. If you can earn them, they are one of the best types of aid you can get. There are all kinds of scholarships available to students. The key is applying for them ahead of time. It would be best to start researching scholarships six months or a year before you want to attend a program. And, you should also keep looking for scholarships while you are in school. There are many awards for students in their third or fourth year of study.
- Grants for nursing students such as the Pell Grant are based on financial need and disbursed twice a year if you attend the Fall and Spring semesters. Grants are basically free money for nursing school since you do not have to repay them. In addition, many government grants for nursing schools are available. So students need to contact their specific schools to determine which grants for nurses are available at the institution and how to apply.
- Student loans are for students with financial need that aren’t covered by a parent or grants or scholarships. Students will need to repay loans after completing college or when they stop attending classes. There are various student loans available for students to obtain. Either the student can apply or the student’s parents, depending on the student’s age.
- Nursing forgiveness loans allow nurses to sign a contract to receive a loan for nursing school. However, most ask you to agree to work for an organization for a specific amount of time before the lender forgives the debt. A typical format requires students to work one year for every year they receive the loan monies.
- Work-study programs are federally-funded program that enables students to work either on or off-campus to earn funds for college.
What Scholarships Are Available For Nursing Students?
Nursing school scholarships are most definitely available for students. In fact, with a nationwide shortage of nurses, there are likely even more scholarships available for students pursuing degrees in nursing. Check with your college to find out about any school-specific scholarships. The National Association of Student Nurses Foundation is another resource for finding nursing scholarships. In addition, you can also conduct research online to find out about other scholarships. You may be eligible for ones you did not realize, like minority nursing scholarships.
What Grants Are Available For Nursing Students?
There are many grants available for nursing students. When you complete a FAFSA financial aid application, you will receive grants based on what’s available. In addition, you can try checking at your local library for grant information, as well as with your school’s financial aid department. The National Association of Student Nurses Foundation is another place to find nursing grants.
How Do You Survive Financially During Nursing School?
It may seem impossible to survive financially while attending nursing school. Nursing school can be pretty intense, requiring a great deal of study, internships, and more. Because of the time commitment, a lot of students don’t work or only work part-time. However, depending on how motivated a nursing student is, it is possible to work while attending nursing school. Other nursing students want to focus entirely on their classes and internships and look for different ways to survive.
What Else Can I Do To Save Money While In Nursing School?
Here are some tips for getting through nursing school when you don’t have a lot of money.
- Create a budget and stick to it! A budget is an excellent way for nursing students who are low on cash to survive nursing school.
- Choose low-cost meals. Everyone wants to splurge and eat out, especially when they’ve had a long day. However, purchasing groceries and making your food at home can save you an immense amount of money. You can eat cheaply and healthfully if you plan your menu right. Choose foods like salad, beans, sandwiches, pasta, rice, and other inexpensive foods you can prepare in large batches.
- Choose used textbooks over new ones. Used books can cost as much as 50% less than new books, and some used books appear practically new. Therefore, used books can save you a great deal of money. Some places also rent textbooks to students for the semester at a rate much cheaper than purchasing them.
- Rethink work. Consider a job grocery shopping or uber driving. A gig job can be ideal for making extra cash. You can work when you have time and aren’t required to commit to regularly.
- Refrain from incurring debt. It may seem like a good idea to apply for all the student credit cards you can. However, if you are not working, stop spending as much as you can. Also, it is a good idea to have one credit card for emergencies. But, multiple credit cards are not good unless you’re lucky enough to have someone else pay the bills.
- Sell your car. The upkeep of a vehicle can be expensive. You could instead purchase a bike and utilize public transportation, which can help you save substantially. From gas to maintenance, insurance, and other necessities, the cost of owning a car can cost more than $800 a year.
Your Nursing School Aid
Financial aid is widely available to all types of students, including nursing students. The type of financial aid you qualify for will depend on which school you attend and your family income. There are so many options available to students. So get to work early, researching all your options.