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Those who are considering the attendance of a nursing school should not hesitate for lack of money. There are many opportunities for obtaining financial aid in order to attend a nursing program, whether that program is attended on a college campus or through a distance school. The three most common forms of financial aid are grants, loans and scholarships. Even students who aren't suffering from financial strain may still qualify for some sort of aid.
A nursing grant is one of the most attractive forms of financial aid, as it is a monetary gift that never has to be repaid. The difference between a grant and a scholarship is that a grant is usually offered by the government or a non-profit organization. The U.S. government offers grants to those who can prove they are financially underprivileged, disabled or both. The first step in qualifying for a government grant is to complete a FAFSA (Free Application for Student Aid) form before the start of a semester. Preferably, a student should apply several months before it is time to register for classes. Deadlines for the FAFSA are quite strict and penalties apply for late application.
Grant money can be used toward a variety of education-related expenses, whereas scholarships are meant to be strictly applied to tuition, books and lodging. A student who qualifies for grant money in addition to other forms of financial aid will be in the best position to cover all college expenses and more. It is also important to note that all students are eligible for grant money, even those who are not attending school on a full-time basis. Community college students and online students are given just as much consideration as those attending campus universities, as well.
Another common form of financial aid is the nursing scholarship. There are many more scholarships available than grants, as scholarships can come from any sort of benefactor. Both organizations and individuals award scholarships, usually to people of high academic standing or who fit some sort of criteria that the benefactor would like to recognize. Nursing students, in particular, may qualify for specialty scholarships, such as those awarded to students who are attending a nursing school or who are seeking a career in medicine.
Like grants, scholarships are a form of "free money" that never have to be repaid. However, finding scholarships to apply for requires more legwork than filling out a simple FAFSA form. With thousands of scholarships available throughout the country, a lot of research could result in a student having all college expenses covered. However, students should be cautious about fake scholarships that are offered by unscrupulous people. Students should research each scholarship before offering personal information on a scholarship form.
Should a student find no luck in qualifying for grants or scholarships, a nursing student loan may be the answer. A loan is extended to qualifying students to cover the cost of tuition and other expenses. However, a loan must be repaid upon departure from school or, sometimes, when the student registers for less than a full-time schedule. Loans are commonly extended by both banks and the U.S. government, with the latter offering more reasonable repayment terms.
The most common loans awarded to students are Stafford, Perkins, PLUS and direct loans. Stafford and Perkins loans are given by the federal government and are easiest to qualify for, as the credit history of an applicant is not checked. Also, students are not required to offer collateral for a Stafford or Perkins loan. PLUS (Parent Loan for Undergraduate Students) loans are awarded to qualifying parents or grandparents who wish to pay for their child's or grandchild's college education. The other most common college loan is the direct loan, which is extended directly from the Department of Education.
Nursing students who are seeking financial assistance for school have a myriad of options. A degree in nursing can be very expensive without such help, particularly if the student plans on completing undergraduate and graduate school. Should a nursing student qualify for a grant, scholarship, and/or loan, it is important to maintain good academic standing. However, with a third party taking some of the burden of high college costs, nursing students will find their schoolwork much easier to focus on.