Perhaps you looked at the nursing school costs above and thought, eek…that’s out of my budget. But there are ways to get through your nursing program without spending the rest of your life paying off student loans.

Nursing School Grants

Like CNA programs, you may be eligible for Pell or FSEOG grants in an undergraduate program. In fact, your eligibility is more likely, as nursing programs are often offered by publicly funded colleges and universities. The FSEOG can be between $100 and $4,000 per year, while the Pell is up to $6,345 annually.

Graduate school grants for nurses don’t exist at the federal level, but individual states may provide them. You could also receive this kind of money from your educational institution.

You may also find grants through membership organizations. There’s an association for nearly every nursing specialty, and these organizations often offer grants, scholarships, and a variety of job search and networking opportunities. If you Google [nursing specialty] association, chances are you’ll find something that fits your needs.

Scholarships for Nursing Students

Nursing scholarships may be offered by local governments, educational institutions, outside organizations, and even seemingly unrelated businesses like law firms.

Scholarships tend to be granted based on need and/or merit. Many further narrow the field by offering them to people of specific backgrounds. This can include:

• BIPOC
• Women/female-identifying people
• Veterans
• Those living with disabilities
• Members of specific religions
• LGBTQ+ community members

We’ve compiled a list of nursing-related scholarships for BIPOC, women, and those with disabilities, as well as one for veterans.

Nursing Loan Forgiveness

Whether or not you received scholarships or grants, you may still have had to take out loans. For nurses in this situation, there are loan forgiveness options:

Military Health Professions Loan Forgiveness If you haven’t served in the military previously and decide to become a nurse for the Army or Army Reserves, Navy, or Air Force, you may have your student loans forgiven.

Nurse Corps Loan Repayment Program NCLRP is open to licensed registered nurses, advanced practice nurses, and nursing faculty members who work in critical shortage facilities (CSFs) or certain accredited nursing schools for at least two years. CSFs are healthcare institutions facing significant nursing staff shortages. This is something to ask about during the job interview process, but if this option interests you, focus your job search on facilities in rural and/or impoverished areas, as they’re more likely to be considered CSFs than those in suburban areas. Qualifying applicants can get up to 60% of their outstanding nursing school loans repaid, and if you stay on at your facility for a third year, you can get an additional 25% reimbursed.

Perkins Loan Forgiveness Many nurses don’t realize that Perkins Loan forgiveness is available to them, as it’s generally associated with teachers. However, if you received a Federal Perkins Loan, you may be eligible payday loans bad credit Midlothian to have up to 100% of that loan canceled if you’ve spent five years working in a qualifying position.

Public Service Loan Forgiveness If you work 30+ hours per week for a qualifying employer-a government organization and many nonprofits-and make 120 qualifying payments via an approved repayment plan, you may be eligible for Public Service Loan Forgiveness (PSLF). Peace Corps and AmeriCorps volunteers are also eligible. Approved payment plans are all those considered income-driven repayment (IDR) plans, which use your salary to decide your monthly payment. PSLF discharges all remaining student loan debt.

State Loan Forgiveness Every state offers some sort of loan forgiveness for nurses, though they vary in amount and types of nurses eligible. Most forgiveness options are limited to those working in CSFs.