How To Finance Nursing School - Nursing Loans, Grants, Scholarship


Training for the nursing profession in the United States doesn't come cheap in time or money as you will find out while researching how to finance nursing school.

Is pursuing a career in the nursing profession worth it to an individual? NIZ wholeheartedly says a big "Yes"!

 

Nursing Education Scholarships, Grants, Work Study, Loan ForgivenessWe personally know of a nurse who with a 2 year associate degree makes with overtime over $90,000 in one year. She could have made more since her phone seems to rings all the time with hospitals in the area looking for nurses to work an eight or twelve hour shift.

Do be aware that more and more states are requiring a BSN degree before they will hire a RN regardless if a nurse has an ADN Degree and 20 years experience. This particular nurse we know has went back to school to get her BSN to remain employable. 

The generous payoff for your hard work and limited financial investment is working in a profession with above average pay, numerous career options to pursue within the nursing profession and the demand for employment opportunities forecasted to remain high due. An increase in the aging population in the United States and in many countries around the world is fueling the stability and growth.

Do keep in mind the pay scale as with any profession varies considerably depending on what degree you obtainas you research the nursing profession as a career. 

Certification as a nursing assistant has a lower base pay scale than a person obtaining an associate degree and a person receiving a bachelors degree typically has a higher base pay scale than a person obtaining an associate degree.

How To Finance Nursing School

Most individuals enrolling in nursing school will take out a loan in some form to pay for their education. The loan may be a college loan such as the government Federal Perkins, Stafford Loan or PLUS Loans.

Private bank college loans with an interest rate lower than a traditional consumer loan interest rate is also utilized by a student and/or a student's parents.

Other individuals may select and utilize the Federal Work-Study (FWS) option when filling out the FAFSA form (Free Application for Federal Student Aid) that provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service and work related to the recipient's course of study.

 

Did NIZ Hear You Say Where Is The "Free Money" To Finance Nursing School? 

 

Great to hear you wanting to pursue and conquer the obstacles to the free money that doesn't just fall out the sky. You have some serious homework to do to secure a Grant (Free Money). You can save yourself possibly thousands of dollars while putting your plan into action to create and secure a better life for yourself and your family. NIZ knows you can make your dream a reality.

Let's Check Out Your Options To Get Free Money Directly or Indirectly

1. Forgiven Loan Program For Nursing Education

Check out the U.S. Department Health and Human Services - Health Resources and Services Administration (HRSA) loan repayment program:
Nursing Education Loan Repayment Program (NELRP). On February 17, President Obama signed into law the American

Recovery and Reinvestment Act (“Recovery Act”) of 2009. The Recovery Act provides substantial additional funding for the Nursing Education Loan Repayment Program (NELRP). NELRP is a competitive program that repays 60 percent of the qualifying nursing educational loan balance of Registered Nurses (RNs) selected for funding in exchange for 2 years of service at a critical shortage facility. Participants may be eligible to work a third year and receive an additional 25 percent of the qualifying nursing educational loan balance.

There is also a scholarship program at HRSA

2. Federal Student Loan Forgiveness:

Under certain circumstances, the federal government will forgive (cancel) all or part of an educational loan. In order to qualify, you must:

Perform military service; Perform volunteer work; Teach or practice medicine in certain types of communities; or,
Be involved in circumstances specified by your loan's forgiveness plan.

 

What About Scholarship Money:

This form of free money can be an excellent annual source provided you meet the requirements of the scholarships as specified by the person, business or community groups, hospitals, corporations, companies, schools, religious organizations or private foundations providing the scholarship.

Many sources to investigate may not be medically based yet may still give out education scholarships for a variety of reasons. 

NIZ wants you think outside the box every year while you are in school to find that free money. New scholarship programs can start at any time. Be diligent in finding that free money.

Keep in mind that not completing or honoring the scholarship requirements like maintaining a certain grade average or performing required work can mean that you have to repay any monies used by you so read the very fine print.

If you get the scholarship many students wished they had discovered and received, consider yourself blessed and Get To Work on a rewarding career.

As a nursing student looking for a scholarship

  1. Try applying at the professional associations for the nursing specialty education that you are pursuing like becoming a nurse attorney 
  2. Apply at American Association of Colleges of Nursing (AACN) 

 

I Want A Grant For Nursing School - Another Form of Free Money

Like scholarships, you have to spend the time needed to locate and secure one or more of the thousands of federal and state grant programs available. One way to look at the time spent searching for free money is the hours could be worth hundreds or thousands of dollars per hour to you.

When you apply to an accredited school and fill out a FAFSA (Free Application for Federal Student Aid), the financial aid department will typically see if you are eligible for grants as part of the process. Make Sure This Application Is Completed

There are many options available for you to reach your goal of working in the nursing profession. Whether you get a grant, scholarship, a Stafford loan or your parents help by getting a yearly PLUS Loan, get started today in a secure good paying profession that will be here today, tomorrow and 20 years from now.