A popular growing field in medicine is that of a CRNA. If you are fortunate enough to get accepted into a program, the next question likely is: how do I pay for my cost of living while in CRNA school? Much like Medical School, the demanding nature of CRNA school makes it nearly impossible for CRNA students to have another job while in the CRNA program, so to answer the question, you pay for your cost of living by saving before attending CRNA school, and by utilizing student loans for CRNA school. If you have been accepted into CRNA school or are interested in CRNA school, and are wondering how you pay for your schooling you will want to review the steps below:
College is becoming more expensive, so it is becoming more imperative that you are aware of all your financial aid options for school. Student loans will most likely play a role in funding your education, but with that being said there are other funding options for school besides just student loans. Before you start applying for student loans, make certain you have checked into all of your college financing options. If CRNA school is years in the future for you, start saving immediately. The more money you have saved up, the fewer student loans you will need to take out. If CRNA school is right around the corner for you, then you are going to want to take a look at the 3 basic Steps for Financing CRNA School below:
1. Like any other college student, you are first going to want to apply for the FAFSA. The FAFSA will determine what you will receive in federal student loans, and other federal financial aid. If you are in need of money for school, do not skip this step in the financial aid process.
2. Apply for all of the scholarships, grants, and/or work study programs you can find related to the CRNA major. This is free money for school, that you will never have to worry about repaying. Finding CRNA specific scholarships and grants can take some digging, but it will be well worth the effort if you find out that you can reduce the amount of student loans that you will need.
3. If you still need more money after scholarships and FAFSA, CRNA students have the option of utilizing federal Grad PLUS Loans to help cover the costs of tuition and other school related expenses. Grad PLUS loans are federally backed loans, that will require the borrower to pass a credit check, but may offer lower interest rates than private student loans for some borrowers. After Grad PLUS loans, you will need to find private student loans to help cover the costs of CRNA school if you are still short on funds. There is nothing wrong with needing private student loans, but you should not apply for these type of student loans before exhausting all of the options above.
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