Common Ways To Finance Yourself Through Your Nursing Training

By on November 20, 2012

Nursing is becoming a very popular career, with its good paying jobs and excellent job security. Unfortunately, one of the hardest things about getting through nursing school is finding adequate funding. Nursing school has become so expensive that for many people, it is impossible to save enough money or completely pay for tuition through working. Luckily, there are several different option which can be used to help pay for nursing school.

  • Student loans and grants through the federal government.Stafford loans, which are loans guaranteed through the federal government, are one of the most popular ways to finance higher education. To qualify for these loans, the student must fill out the Free Application for Federal Student Aid, or FAFSA. The FAFSA is then forwarded on to the school they are attending, who will put together a financial aid package. The financial aid that a student receives from the FAFSA often depends on the income of their family. If they are income eligible, the student may receive a Pell Grant in addition to a Stafford loan. Unlike Stafford Loans, the Pell Grant does not have to be paid back. Even if the student does not qualify for a Pell Grant, they may qualify for a Subsidized Stafford Loan, which is a low interest loan where the government pays the interest while the student in school. Regardless of a student’s family’s income, they can qualify for an Unsubsidized Stafford Loan. Although interest on this loan does build up while the student is in school, the loan does not have to be repaid until after the student leaves school. All Stafford loans are guaranteed through the federal government, so there is no credit check for these types of loans.
  • Scholarships and tuition benefits through an employer.Many workplaces offer their employees tuition benefits after they been employed for a certain period of time. Generally, hospitals are especially generous in terms of encouraging their CNAs and LPNs to further their educations. Sometimes there are academic requirements for these scholarships, such as maintaining a B average, so students should check with their employers about what they specifically require.
  • Scholarships offered through alumni groups and other organizations. Many schools have alumni organizations who offer scholarships to current students. There are other organizations, such as Rotary International, the Lions Club, and P.E.O. International which award scholarships to deserving students. Students can find these scholarships by contacting the financial aid office at their school. There are also several databases on the Internet, such as those at www.fastweb.com, where students can put in demographic information can find scholarships they are eligible for.

By using these methods, nursing students can find the financial assistance they need to help them through school. It is important to plan early and submit the FAFSA and scholarship applications as soon as possible, to maximize the financial aid a student receives. By doing this, a student can minimize the amount of debt they have to take on to finance their schooling.

Will writes for Team24 Private Nursing, a specialist private nursing agency and domiciliary care provider who are currently recruiting, find private nursing and disability care jobs with Team24 Private Nursing.

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