Paying for a Nursing Program

There are a lot of options to consider when it comes time to pay for a nursing program. Government loans, school loans, grants, scholarships, and all manner of financial aid is available. Where to begin? The most common option, and one that almost everyone has to face sooner or later is the dreaded student loan. With federal lending rates near zero percent, now is actually a great time to get a student loan. There is no way you are going to get anything near a zero percent loan, but usually loans are calculated off of prime, and that is at a historically low level as well.

When you're on student loans, it's easy to think of it as free money. It isn't. Ask any one a year or two out of school and they likely will be saying the same thing. They wish they had saved more as a student. Those pizzas and laptops add up! Just because you can borrow up to a certain amount doesn't mean you should take it all out at once. For every thousand you spend, you may well have to pay back eleven hundred.

Besides student loans, there are also government scholarships and interest free loans available. Generally to qualify for one of these several conditions need to be met. Some are need based while others focus on academic or merit based performance. There is also a subset of grants and scholarships that involve tuition reimbursement for commitment to service. This might include being a nurse in a remote location where health care is at a premium, or in an impoverished inner city area. Often, your choices on where to serve at the end of this are limited, so make sure to read the fine print.

Return to Nurse Programs Home

(c) 2009-2013 All Rights Reserved | lpn nurse