Sometimes, the only thing holding back a prospective student from pursuing a new career is the issue of money. Fortunately, for people interested in pursuing a nursing career there is ample advice available on financial aid options to help pay for nursing education.
Resources for Individuals From All Backgrounds
The American Association of Colleges of Nursing (AACN) outlines an extensive list of scholarships and other financial aid options for prospective nursing students including those interested in earning a Bachelor of Science in Nursing (BSN) degree. AACN itself offers nine scholarship options ranging from $2,500 to $5,000, each with varying requirements and conditions.
For example, AACN and Hurst Review Services partner to offer a scholarship to outstanding entry-level nursing students. One $2,500 scholarship will be awarded twice yearly to students enrolled in schools that are AACN members such as the University of Texas at Arlington (UTA). Further lists of scholarship opportunities for students can be found online at sites such as fastweb.
Loans and Repayment Options
Loans are another option for those seeking financial aid. Loan programs are often designed to include all the resources you need from start to finish. To see what types of financial aid, like loans and grants, you qualify for, it is important to complete the Free Application for Federal Student Aid (FAFSA).
For those depending on loans, there are generous repayment programs available to help reduce the out-of-pocket expense. For example, the U.S. Army Nurse Corps’ Health Professions Loan Repayment Program offers various repayment levels for Active Duty or Army Reserve healthcare workers. The Army may repay up to $40,000 per year or $250,000 in total depending on the participant’s “medical specialty and Army status.” Other incentives like benefits, sign-on bonuses, a competitive salary and entering as a ranking officer also exist.
Another excellent option for those who want to make a difference through caring and advocating for underserved populations is HRSA’s Nurse Corps Loan Repayment Program. This program will repay 60% of a registered nurse’s remaining nursing education loans once they complete a two-year service contract in a designated Health Professional Shortage Area. If they choose, participants may be eligible to complete a third year to receive an additional 25% repayment of their outstanding loans.
Finally, many healthcare organizations and hospitals have such a high demand for nurses that they have included career development benefits like tuition reimbursement. These programs exchange years of service for funding earmarked to help cover tuition payments.
There are many resources available to help prospective students understand how to get financial aid for nursing school. Options range from scholarships that help cover the cost to full-ride loans that can then be repaid in part or completely through a repayment program. For those seeking to limit their bill, some institutes like UTA also offer affordable online programs. In the end, the demand for nurses has created an environment where nursing school scholarships are readily available for those who need it the most.
Learn more about The University of Texas at Arlington online BSN program.
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