How Do You Pay for Nursing School?

If you want to become a nurse but can’t afford to pay for schooling, there is money waiting for you. Right now there is a shortage of nurses, and both the private and public sectors have a vested interested in seeing enrollment numbers go up and graduating more students. There are government grants and loans available at both the federal and state levels as well as a variety of scholarship programs offered in the private sector.

Federal government grants

Referred to as Pell Grants, they are a way of paying for your college tuition without borrowing any money. It is possible for qualified students to finance their schooling without incurring any debt. It is not a loan, so it is money that does not need to be paid back. Income levels and assets are what determine whether you qualify for a grant. If you are young enough, the government will want to know the income and assets of your parent or parents. Up to a certain age, parents are expected to pay for their children’s education if they can afford it. At the time of this writing, there is a maximum grant of $5,645 per school year. This number can change over time depending upon changes in the law. If you are approved for the grant, the amount that you qualify for will be paid to the school you are attending.

Federal loans to pay for your education

The federal government offers low interest loans to students to pay for college. Naturally, you have to pay back the money. After all, it is a loan, but you don’t have to begin to pay it back until after you finish your schooling. The education you receive will result in a higher income than you would have had without your degree, and you will be able to pay it back more easily. You should be careful not to borrow more than you need, because the future is uncertain, and some people have trouble paying back their college loans. Get as much money as you can from scholarships and grants before borrowing money, but when you do borrow for schooling get a federal loan. They are the lowest cost loans you will find for education.

State assistance for nursing schools

It is impossible to even summarize the potential for tuition money at the state level because every state is different. Some states have a greater nursing shortage than others; therefore, they have a stronger motivation to help residents with a nursing program.

Scholarships

This is a big topic because it covers areas of education that are both general and specific as well as funding set aside for particular minority groups as well as women. There is a desire on the part of our society to have diversity at every level and area of our society, so there may be a scholarship that applies specifically to you. It may be one that can be used for any type of college program including nursing.

Conclusion
If you want to go to nursing school, do not let a lack of money hold you back. There is a lot of money out there waiting to be spent for the education of a nurse and some of it can be yours. Be diligent and explore every possible source of money you can find. Nursing is a great career and money is not going to be a roadblock for you.