How to Pay for Nursing School
Paying for a nursing education can determine whether or not you can go to the school you want to attend. Education for a 4-year in-state nursing program can average $78,192. An out-of-state education can average $136,124 over four years. Before deciding that you cannot afford to pursue a nursing degree, you should know that there are some options for getting financial assistance for your education.
Employer Assistance
First, don’t overlook the obvious. If you are already employed in healthcare as a nurse, technician, or aide, ask your employer if they offer any sort of financial assistance to continue your education. Often, the employer will expect that you will “pay back” the assistance by promising to stay at the agency for a specified number of years after your education is complete.
If you are interested in the military as a career, you may be able to get financial assistance to continue your education at the expense of the government. Of course, you will be required to “pay back” this education by serving in the military after you complete your degree. If you choose military nursing as a career, you will be an officer with all of the perks associated with the grade.
Grants and Scholarships
Be sure to fill out the Free Application for Federal Student Aid (FAFSA). This application will be used to help funders determine your eligibility for grants, scholarships, and loans that are based on financial need. Many states and colleges use the data on your FAFSA to determine if you qualify for their financial assistance.
Next, look for grants and scholarships. These sources of funding do NOT have to be repaid – except possibly by being obligated to serve a certain amount of time. For example, the Nurse Corps Scholarship program from the Health Resources and Services Administration (HRSA) of the U.S. Department of Health and Human Services (HHS) offers nursing students funding for tuition, fees, and other costs. For the 2023-2024 academic year, the student also receives a stipend of $1,527 per month. In exchange, the student agrees to work at specific underserved locations for at least two years.
Your state or selected school is likely to have grants and scholarships for nursing students. Be sure to look for grants and scholarships that are only given to students in your chosen college, city, or state.
There are also many scholarships that are available regardless of your selected school or state of residence. A great source of scholarships includes any professional organization to which you belong.
Other sources of scholarships include:
| Scholarship |
Sponsor |
Deadline |
Considerations |
| FNSNA Scholarship |
Foundation of National Student Nurses’ Association |
January |
Must be enrolled in a school of nursing; preference given for involvement in student nursing organizations |
| ENA Foundation Undergraduate Scholarship |
Emergency Nurses Association Foundation |
June |
Must be RN or LPN/LVN pursuing BSN; must be ENA member |
| American Indian Nurse Scholarship |
National Society of the Colonial Dames of America |
March |
Must be attending nursing school; must be American Indian or Native Alaskan |
| BS Nursing Scholarship |
Association of Rehabilitation Nurses |
June |
Must be studying for BSN; must be a member of the Association of Rehabilitation Nurses |
| National Association of Hispanic Nurses Scholarship |
National Association of Hispanic Nurses Scholarship and Awards |
June |
Preference for South, Latin or Central American, or Hispanic; Must be a member of the National Association of Hispanic Nurses |
| Kaiser Permanente College to Caring Program |
Hispanic College Fund |
February |
Preference for South, Latin or Central American, or Hispanic; must be studying for BSN |
| AfterCollege/ AACN Student Scholarship |
AfterCollege, INC |
March, June, September, December |
Must be seeking a degree in nursing at an AACN institution; preference given to students who intend to become nurse educators |
| Minority Nurse Scholarship Program |
Springer Publishing Company |
February |
Must be in 3rd or 4th year of BSN program; must be an ethnic minority |
| Nursing Program Scholarship |
NursesLink.org |
April, October |
$1,000 award for undergraduate nursing |
| A Nurse I Am Scholarship |
Cherokee Uniforms |
March |
Must be enrolled or accepted in a nursing program |
| Back to School Nursing Scholarship |
BestNursingDegree.com |
July |
Must be enrolled in a nursing program |
| American Assembly for Men in Nursing Scholarship |
American Assembly for Men in Nursing |
June |
Must be a current AAMN member; must be a male student who has completed one term |
| Daughters of the American Revolution Scholarships |
Daughters of the American Revolution |
Varies |
A variety of scholarships with various requirements; see https://www.dar.org/national-society/scholarships/nursing-medical-scholarships |
Loans
Finally, once you have exhausted the other funding sources, you can think about getting a loan to complete your education. The thing to remember about most loans is that you have to pay them back. If you must apply for a loan, be sure to look at federal student loans. These are often better than loans obtained at banks since these loans typically offer a lower fixed interest rate. Again, to apply for these federal loans, be sure to first complete the FAFSA form. The process for this form can be found at the Federal Student Aid site of the U.S. Department of Education. Another advantage to a federal direct loan in nursing is that you may be able to take advantage of the Public Service Loan Forgiveness Program. This program requires that you make 120 payments on your federal student loan and that you not be in default on the loan. It also requires that you be employed in a public service organization.
There are several federal loans for which you may qualify:
- Direct Subsidized Loans – Available to undergraduate students with financial need; the federal government will pay interest while you are in school
- Direct Unsubsidized Loans – Available to undergraduate or graduate students; no need to demonstrate financial need; you are responsible for paying all interest on the loan
- Direct PLUS Loans – Available to graduate students or parents of a dependent undergraduate student
- Direct Consolidation Loans – Allows the student with multiple federal loans to consolidate the loans into one loan resulting in one monthly payment instead of several payments. If the consolidation results in a longer repayment period, be aware that you will pay more in interest.
Summary
Many potential nursing students worry about how they will pay for their education. If you are one of those people, be sure to check out all of the employer perks, grants, scholarships, and federal student loans that may be available to you.
