Need help figuring out how to pay for your nursing education? CollegeWhale.com has put together an easy overview of how to go about funding your nursing education.
1. Start With Your Free Money Options
As with funding any college education, you should always start by checking out your free money options, such as scholarships and grants. Lucky for you, the field of nursing offers a huge amount of college scholarships opportunities, you just have to be willing to put some time into searching out the ones that apply to you. Start by looking at 25 Nursing Scholarships for College
2. File A FAFSA
After you have found all of the nursing scholarships that you qualify for, you will want to file a FAFSA. FAFSA is the Free Application For Federal Student Aid, and completing the FAFSA is free, and will make you eligible to receive federal student loans for nursing. You can complete a FAFSA online at www.fafsa.ed.gov. Make certain you complete a FAFSA before applying for any private student loans for nursing school. Private student loans are typically always more expensive than federal student loans, and offer less flexible repayment options and terms.
3. Check With Your School
It is always a good idea to check with the college or university that you are attending to see if they offer any specific scholarships or financial aid programs for nursing students. Many times these school specific scholarships or financial aid programs are much more financially beneficial to nursing students, compared to private students loans.
4. Private Student Loans
If you have exhausted all of your scholarship, school specific and federal financial aid options, and you are still in need of more money to help pay for your nursing education, you can look into a private student loan. It is important to carefully research different private student loan lenders, be prepared to have a creditworthy cosigner (if you have poor or little credit), and make certain you do not over borrow. Private student loans are based on your credit history and score, tend to have higher variable interest rates, and do not offer many of the benefits that federal student loans offer. For these reasons, private student loans should always be a last resort for funding your college education.
This is a basic overview of how to pay for nursing school and student loans for nursing. To find more information on federal and private student loans, please check out those sections on CollegeWhale.