4 Ways to Get Help Paying Your Nursing School Tuition

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With many baby boomers retiring, there is a large nurse shortage growing by the day. The demand for nurses will create over a million new jobs, and is already lifting nursing wages. Studying nursing online allows you to improve your career and salary with flexible hours that work around your current schedule.

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Attending nursing school seems like a dream come true, paying for it is the nightmare. College tuitions across the board have risen sharply in the last couple of decades, without abate. Everything else in the economy has tanked, but here is a cost without mercy.

You know about federal student aid, state student aid, scholarships and grants for nurses, but did you know that some nursing students – like you – qualify for free tuition assistance just for being nurses?

1. Tuition Reimbursement Programs for Nursing Students

A tuition reimbursement program aimed at nursing students functions on a couple levels depending upon the source of the reimbursement.

• Reimbursements from a school of nursing are often used as lures for reeling in prospective nursing students. These super-effective financial levers attract students willing to agree to a work contract following graduation. Common terms: you are reimbursed each year’s tuition at the nursing school for each year you commit to work for a particular hospital or health system.
• Reimbursements from employers are sometimes offered to employees as incentive to return to school with terms that include continuing to work for the company for a specified amount of time, graduation from the program, maintenance of a particular GPA and more.

2. Loan Repayment

Loan repayment, a.k.a. loan forgiveness, programs are common from government and public sources.

For example, the Nursing Education Loan Repayment Program offered by the U.S. Department of Health and Human Services, is a very well known loan repayment program through the federal government. The aim is to attract LPN and RN grads willing to work for a specified term in an area or facility underserved medically, in return for student loan forgiveness. RNs may work for up to 3 years and be forgiven up to 85% of their student loan balance.

Loan Repayment and Forgiveness Programs:

• Nursing Education Loan Repayment Program as described above.
• National Health Service Corps is another federally funded loan repayment program, this open to Nurse Practitioners and Nurse Midwives, along with other medical professionals.
• Search the A to Z list of State Nursing School programs for state-specific nursing loan forgiveness programs.

3. Tuition Waivers

Some schools of nursing offer aid in the form of tuition waivers to financially disadvantaged nursing students. Check with the schools ot which you’re applying; ask about any available programs. Terms may include financial limits, type of student programs are available to, and areas of study specialization. You can find programs for both undergraduate and graduate students.

The purpose of a nursing tuition waiver? To help otherwise financially needy students afford an education that can change their lives and the lives of others, in a field in dire need of talented and motivated nurses.

4. Nursing Student Loans

Special low-rate student loans for undergraduate, graduate, and post-grad nursing students are offered through various sources.

The federal Nursing Student Loan program is sponsored by the federal government, but only available through participating nursing schools. Ask financial aid officers for information regarding this program and its availability at your school of nursing.

Nursing student loans, when offered, are incentive for nursing students with financial need. These financial tools provide low interest rates and affordable repayment options.

 

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