Studying these days, even when you take away the cost of the books and other study materials you need, is still hugely expensive, making it near impossible for most people to study. RN financial aid is also highly sought after because tuition fees have risen significantly and the skyrocketing costs have lead many students to wonder if an investment in higher nursing education is going to be of benefit in the long run. If a student does not have wealthy parents who can pay for their study fees, they are devastated to find out that the salary they are earning is less than what they need to pay for their studies at a college or university.
The inflation of college costs has taken a hard knock and in fact research has shown that college costs and study fees inflate faster than other expenses. This makes sense when you realize that schools, colleges and universities have to replace technology quicker that other places, and that teachers and lecturers have always been underpaid, but now they are being paid the better salaries they deserve.
Academic Excellence A Road To Financial Aid
Wherever you are studying, always check with the college or university for their individual funding programs, because there are education institutions that give acknowledgement to students who achieve academic excellence.
With so many people on the planet and just so many jobs available, everybody wants to study to increase their chances of getting that elusive job, and everyone knows that demand sends prices up, so the more people wanting to study, the more the price goes up for a quality college education. Of course the popularity of certain majors and classes can make those particular tuition fees even more. The colleges want to keep their classes small and this sometimes means that the students may have to use an additional year to complete their studies and this sends the prices of the tuition even higher.
It can be a relief for you as a registered nurse to discover that a college education is not out of your reach, and that in fact, there a quite a number of financial resources available to you. Take a bit of time and research on the Internet about the different financial aid options available to you. You will soon see that there are literally thousands of nursing scholarships and grants available to nursing students.
The most common types of financial aid come in the form of scholarships and grants as well as student loans. RN financial aid can be federal, from a private source or college or university based.
Applying For Financial Aid
Scholarships
Scholarships and grants do not have to be repaid, and can take the form of University scholarships, federal or state grants, or outside scholarships. First, you need to complete the Free Application for Federal Student Aid – FAFSA. If the college you have chosen accepts you, they will use this very application to put together a Financial Aid Package that is tailored to your needs. You need to submit the Free Application for Federal Student Aid -FAFSA – if you want to apply for federal and state financial aid; and in fact most colleges and universities require the FAFSA. You can get hold of it online or request that it be sent to you, but most people do it online. Details are available at www.fafsa.ed.gov. You will find step-by-step instructions for completing the online FAFSA. If you have technical questions about this call them on 1-800-4-FED-AID. Students can get copies of the paper version by also calling 1-800-4-FED-AID (1-800-433-3242).
Know How to Write A Good Scholarship Essay
Know how to write a winning nursing scholarship essay that is written in a clear manner with an introduction, body and conclusion. Many scholarship awards are based on the quality of the essay. Also make sure that when you write your motivational scholarship essay, it responds to the scholarship requirements, because some scholarships will require certain things of you and your essay should state how you intend to meet those requirements.
There are a number of nursing scholarships to help you bear the cost of your nursing degree, and remember that the first place to look for this financial aid is at the very college or university you want to attend. Scholarships become available throughout the year. A good place to start looking is the American Association of Colleges of Nursing – AACN -. They don’t only offer valuable information on the nursing profession but you will see plenty of information on grants, scholarships and fellowships for nursing students.
Student Loans
A student or education loan is another type of RN financial aid, but unlike a scholarship, it will need to be repaid. There is also another type of loan known as the consolidation loan which lets the student lump all their loans into one, and then you pay one loan instead of several.
There are precious few students who can afford to pay for college without some form of financing, and the Nursing Education Loan Repayment Program of the U.S. Government helps nurses by offering loan repayment assistance to registered nurses and advanced practice registered nurses. In return they must work in a Critical Shortage Facility in return for working full time at an accredited school of nursing. To be eligible to apply, you need to be a registered nurse for instance who has completed training and is licensed and employed full time. You also should be a U.S. Citizen. Preference will be given to nurses with the greatest financial need.
Loan Forgiveness Programs
Loan forgiveness programs are brilliant in that they help students pay back their nursing college loans. This means that while you are working in a nursing setting, you can all the while be gaining valuable nursing experience in a hospital or clinic setting while getting paid for your work and reimbursed for your nursing school education.
Grants
Grants as well as scholarships are the most sought after types of funding for a nurse college education, simply because they don’t need to be paid back.
The most popular federal grant is the Pell Grant, and to get a Pell grant, you must complete the Free Application for Federal Student Aid (FAFSA). Most of these grants go to undergraduates who haven’t earned a bachelor’s or a professional degree, although some students receive Pell funding to help pay for their first professional degrees. Pell Grants are regarded as a foundation of federal financial aid, and other federal and non-federal sources may be added. The maximum Pell grant for 2012-2013 is $5,550, and those eligible for the grants may also receive funding through other grants.
Nursing students who know what specialty they would like to focus on, like geriatrics or pediatrics for instance, will find another source for possible grant funds – professional organizations. For all the latest grant information, contact the association that governs the specialty in which you are most interested in. There are quite a few, but two of them are:
- American Academy of Nurse Practitioners – they offer special grants, more so in research, to nurse practitioners
- Emergency Nurses Foundation Association – offers an annual scholarship to ER nurses nationwide. Recipients can be undergraduate, graduate and doctoral nursing students.
The Board of Registered Nursing, also known as BRN, is a state governmental agency which protects the public by regulating the practice of registered nurses. They also provide a lot of useful financial aid information, and they invite registered nurses to select from the resources they have listed to apply for financial aid to become a nurse.
Just some of these are:
- The Nursing Scholarship Program (NSP) – they award scholarships to students enrolled in accredited RN training programs. In exchange that want two years of post graduation service at a health care facility with a critical shortage of nurses.
- Choose Nursing – information on how to apply for financial aid and scholarships.
- Discover Nursing – hundreds of nursing scholarships.
- Nursezone.com – financial assistance.
- Nursing Education Loan Repayment Program or NELRP – offers registered nurses assistance to repay educational loans in exchange for service in critical shortage facilities.
Nursing Scholarship US is another excellent Scholarship and RN Financial Aid resource for students wanting a nursing career. They are always updating their database to include the latest public and private scholarships. They also include research grants for undergraduate and graduate school. US is one of the best sites to look at for listings of financial aid for nurses and they also offer comprehensive nursing information for students.
The Conclusion
While you or your family may be responsible for meeting college and university costs, the college or university you are interested in as well as the state and federal governments can help. There is plenty of information on the Internet on the various forms of financial aid, the procedures to follow to gain access to it, who is eligible and what type of financial aid is available to meet your educational expenses.