How to Pay for a Nursing Degree
Becoming a nurse is an exciting and challenging educational journey. Nurses are responsible for the treatment, safety and recovery of patients, either in a hospital or home-care setting. Some nurses go on to graduate-level education so they can specialize in a health care field, such as oncology, prenatal care or cardiology. Like all areas of education, nursing degrees can be expensive. However, there are a number of financial options available to students seeking their RN degree.
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Instructions
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Apply and gain acceptance to an accredited university that grants a bachelor's degree in nursing.
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Gather your most recent tax returns.
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Fill out the Federal Application for Student Aid, or FAFSA. The application can be downloaded at fafsa.ed.gov. Follow the detailed instructions on the website. You will need your tax returns to complete the financial information sections of the application. The application calculates how much you can realistically afford to put toward annual tuition, based on your earnings and savings.
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Wait to receive your Student Aid Report (SAR). This will outline, based on your current level of savings and your previous year's earnings, which types of aid for which you are eligible. Of particular interest is the EFC figure, or estimated family contribution, which your financial aid adviser will need to help you prepare your loan applications.
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Send the SAR to your college's financial aid department. An adviser will be in contact with you to recommend loan or scholarship packages for which you are eligible.
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Apply for nursing school scholarships. Scholarships are usually awarded to students based on economic need or in recognition of outstanding academic achievement, or both. Some scholarships may carry restrictions, like applying to a specific field of nursing study.
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Apply for nursing school grants. Grants are allocated by the government to help offset the cost of education and to encourage students to pursue certain fields, such as engineering and nursing.
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Tips & Warnings
Keep your grades high once you begin your studies. Many scholarship programs require you to maintain a 3.0 GPA.
Be aware of interest rates on any loans you take out to cover your tuition. Some rates may vary during the life of the loan, which can be as long as 25 years, so be sure you know your financial responsibilities.
