How to Pay for Nursing School: Potential Funding Sources

Nurses have competitive earning potential, which means that nursing school can be an investment in your future earnings. When considering the cost of higher education, research all your funding options. Learning how to pay for nursing school allows you to pull together multiple funding sources to finance your education.

Concordia University Irvine’s Accelerated Bachelor of Science in Nursing (ABSN) program provides a fast track to earning a Bachelor of Science in Nursing (BSN) for students with a non-nursing bachelor’s degree or at least 65 college credits. We welcome transfer students and career switchers who want to become nurses. With scholarships for nursing students at Concordia University Irvine’s Accelerated BSN program, we’re keeping higher education accessible.

When determining how to pay for nursing school, you’ll first need to understand your expenses. Then, focus on applying to scholarships and exploring other sources of financial aid.

 

Understanding Your Nursing School Expenses

First, consider the cost of tuition. Tuition for nursing school can vary widely and depend on factors such as program length and whether the school is public or private. Keep in mind that at any nursing school, you will need to pay additional fees and purchase certain items. Some of these expenses include:

• Application fee
• Background check/drug testing
• Books and supplies
• Health assessment fee
• Lab fees
• Malpractice insurance
• NCLEX-RN licensing costs
• Scrubs

Add up your anticipated costs and consider your living expenses to determine how much funding you’ll need.

Exploring Scholarships for Nursing Students

When considering how to pay for nursing school, scholarships should be near the top of your list. Scholarships are not the same as loans; they do not need to be repaid. It’s money for school that you can potentially obtain just by applying. Start by identifying the scholarships you’re eligible for.

 

How to Find Relevant Scholarships

Scholarships for nursing students are sometimes available from the nursing school. At Concordia University Irvine, for example, we offer student scholarships to students enrolled at the Irvine campus. The exact award amount can vary; scholarships can range from $5,000 to $10,000 per semester and up to $20,000 total per student. It’s important to apply as soon as possible. ABSN students cannot apply for this scholarship after their first semester.

After looking for scholarships offered by your school, your next step is to search scholarship database websites to find opportunities you may qualify for. Scholarship databases include Fastweb, BigFuture and Scholarships.com, but there are many more.

Use the search filters on these databases to narrow down the list. Search scholarships for nursing students and any others you may qualify for based on factors like:

• Financial need
• Academic merit
• Special talents and hobbies
• Cultural identity

How to Increase Your Chances of Winning Scholarship Awards

There are things you can do to increase your chances of funding your nursing education with scholarships. Try the following:

• Apply to as many scholarships as possible. Don’t neglect those with smaller awards, as these often have less competition, and consider applying for locally offered scholarships.
• Follow the application directions exactly.
• Customize the essay, if required, for each application.
• Ask someone else to read your essays and offer feedback.
• Proofread all application materials multiple times.
• Showcase your unique voice and personality.
• Present yourself in a professional manner, including using a professional-looking email address.

Applying for Federal Student Aid

To apply for federal student aid, fill out the Free Application for Federal Student Aid (FAFSA) each year that you’re a student. After submitting it, you’ll receive a notice that informs you of your eligibility for various forms of student aid. These include:

Federal Grants

Federal grants are similar to scholarships in that they don’t need to be repaid. Common types of federal grants include the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG). The amount you may receive depends on factors like your financial need and the cost of attendance.

Federal Loans

Federal loans must be repaid, but they typically offer lower interest rates and more favorable terms compared to private loans from banks. Nursing students may qualify for Direct Subsidized Loans or Direct Unsubsidized Loans.

Work-Study Programs

Some students might qualify for the Federal Work-Study Program. This program connects you to a part-time job, usually on campus but sometimes off campus, that can help defray the cost of attending school.

Veteran Benefits

If you’re a service member, veteran, or qualified family member, you may be eligible for VA education benefits. VA benefits can cover a significant portion of the cost of attending nursing school, so don’t overlook this option if you or a family member served in the military.

Consider Employer Tuition Reimbursement

Some employers offer tuition reimbursement to employees earning a BSN. For example, if you’re working as a certified nursing assistant (CNA) or patient care technician (PCT), your employer might offer reimbursement for you to become an RN with a BSN.

If you’re not currently a healthcare worker, it may be worth looking into becoming a CNA or PCT for the sake of qualifying for tuition reimbursement from an employer. Keep in mind that accepting tuition reimbursement may obligate you to work for that employer for a set period of time.

 

FAQs About How to Pay for Nursing School

How Do Most People Pay for Nursing School?

It’s common for people to pay for nursing school with a combination of federal and state student aid, along with work-study programs and scholarships for nursing students. Private loans from lenders, such as banks and credit unions, can bridge the gap.

How Do People Pay Bills While in Nursing School?

Financial aid can help students cover rent and other bills while attending nursing school. Some students also take time to save up for living expenses while attending school, and some rely on help from their families. Other students work per diem shifts or a flexible, part-time job while studying.

At What Point Does FAFSA Stop Using Parents’ Income?

If you are considered a dependent, you may need to have your parents fill out their income information on your FAFSA form. Since the criteria can change from one year to the next, use FAFSA’s dependency status tool to determine if you need to enter your parents’ income.

Affordable Nursing Education at Concordia University Irvine

Concordia University Irvine offers a high-quality nursing education on a shorter timeline, so students can graduate with a BSN in as few as 15 months, pass the NCLEX-RN, and join the nursing workforce. Our financial aid office is always happy to answer questions and assist students who are exploring how to finance their education.

At Concordia University Irvine, we believe education is the pathway toward a brighter future. Here, with a values-based curriculum, you can learn how to become a compassionate, caring, and highly competent nurse.

Contact our specialized admissions counselors today and find out if you could be eligible for the ABSN program.