You want to become a nurse. However, there is a big, six-figure wall standing in your way. Getting a college education has never been cheap. Each year it becomes less affordable. Are there ways to drive down the sticker price and make nursing school more accessible?
Absolutely. While hunting down grants, scholarships, and financial assistance isn’t easy, it is doable. In this article, we take a look at steps you can take to help finance your college education. Read on to learn more about how you can save money while becoming a nurse.
Affordable?
Context, of course, is everything. An affordable education is not the same thing as an affordable department store purchase. You may wind up borrowing money. You may need to tighten your belt to keep up with monthly payments as you pursue your degree. These are normal considerations that most people need to make as they work on their nursing education.
That said, college does not need to be the crippling expense that you so often read about. The tips provided below are designed to save you money. Sometimes, big money. Other times, quantities that might not feel like much now, but will certainly add up in the long run.
Read on to learn more about what it takes to save money on your nursing education.
Applying for Grants
Grants provide college financing support that is not necessarily contingent on academic performance. While good grades and a strong transcript will certainly improve your eligibility, grant award committees may also look into different considerations.
What is your age, race, sexual orientation, academic background, etc? These questions may feel probing, but they are asked with good intentions. Many grant programs are committed to improving diversity within the career field that they are trying to support.
This is particularly important in healthcare, where a lack of diversity has historically led to poor healthcare outcomes for minority patients.
There are other factors grant committees might weigh. For example, where do you plan on working after you graduate? Many rural hospitals, or even those in urban areas, are dangerously understaffed. Some grant programs will provide tuition assistance to students who are willing to fill those gaps for a set period after they graduate.
To apply successfully for a grant, start by:
- Thinking about what makes you different: Do you fall into a minority category? Maybe you are a first-generation college student. While it may feel uncomfortable emphasizing these aspects of your life for financial gain, remember that these considerations are ultimately weighed by people with good intentions. It’s also important to keep in mind that the opportunities that these programs provide are often much less competitive than more generalized scholarships. Fewer candidates = a better chance of winning the grant.
- Start local: There may be grants available in your town to snatch up. Some churches and non-profits will provide small grants to students who meet their criteria. These awards may not amount to much in the grand scheme of a six-figure education, but they will add up. They will also be easier to get, again for the fact that they will have fewer applicants.
- Apply for everything: You never know what will stick. Applying for grants and scholarships is a numbers game. You may not love investing the time and effort it takes to apply for dozens of award opportunities when you know that you won’t win most of them, but keep in mind that the value of those efforts is very high. If it takes you two hours to fill out an application for a $1000 grant, the compensation per hour is enormous.
Stick with it. The work may feel overwhelming, but if you take your efforts seriously, you’ll be well compensated for your time.
Note that there may be grant opportunities specific to your program. For example, are you trying to become a nurse practitioner? The grant opportunities might be different. Be as specific as possible in your search for award money.
Finding Scholarships
Scholarships are more competitive. They are generally based on your transcript. The best scholarships will weigh many factors. Your grades, yes, but also your extracurriculars. The overall contribution you make to your community. People hoping to get a full ride generally need to start developing a competitive resume early.
If you are still in high school, now is a good time to start working on a resume that will land you big money. Look for well-balanced opportunities to contribute to your school community. Join clubs. Pursue leadership opportunities. Search for chances to make yourself stand out.
If you have developed a decent resume but don’t think you are competitive enough to win a full-ride, that’s ok. Every dollar helps.
Financial Aid
Financial aid, generally provided by FAFSFA provides students with loan money. Because most people can’t afford to pay the sticker price for their college education in cash, they pursue financing that fits their financial reality.
Financial aid is imperfect—the amount of money you get may reflect how much the government feels your parents can afford to pay if you are still living at home. If you are independently financing your education, the money given will reflect what the government thinks you can afford to pay. The problem? They don’t ask you. Some people—many people—wind up with more out-of-pocket expenses than they were hoping for.
Work with FAFSFA to make sure you get the financial aid you need. If the loan terms feel inadequate, you may be able to acquire additional funding if you reach out to them directly.
Conclusion
Keep in mind that small awards can mean a lot in the long run. When full-rides are on the table, a scholarship for $1000 may not feel like much. But it is! That is real money. Look at your bank balance right now. How would you like it if you had $1000 less than you currently have?
Probably not very much. But these are the real terms on which college financing plays out. You may not get huge awards. However, a bunch of small ones will add up over time. Every dollar you save is real money that will wind up in your pocket when all is said and done. That’s a big deal.
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Guest Author Bio
Sarah Daren
With a Bachelor’s in Health Science along with an MBA, Sarah Daren has a wealth of knowledge within both the health and business sectors. Her expertise in scaling and identifying ways tech can improve the lives of others has led Sarah to be a consultant for a number of startup businesses, most prominently in the wellness industry, wearable technology and health education. She implements her health knowledge into every aspect of her life with a focus on making America a healthier and safer place for future generations to come.
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