Professional nurses looking to advance their careers may consider enrolling in an online RN to BSN degree program.
While these programs are an excellent way to earn a bachelor's degree in nursing, they can also be expensive depending on the specific one chosen and the institution providing it.
It is important to explore various financial assistance that can help defray the costs of college, with many opportunities available for eligible registered nurses. Read on to learn about five RN to BSN online program financial aid options for nursing students.
1. Nursing Scholarships
Scholarships in nursing are granted to assist students in meeting their financial obligations to graduate and have a significant impact in various ways in the healthcare field.
Many nursing scholarships are available to help incoming students pay for college tuition and fees that come with earning an online Registered Nurse to Bachelor of Science in Nursing degree.
They are awarded based on different factors, such as financial need and academic achievement, and vary in the amount provided. In general, they do not have to be repaid.
Government agencies and professional organizations extend different scholarships for nurses, in addition to for-profit and non-profit private foundations. Registered nurses should also explore scholarships offered directly from their school of choice.
What Are Examples of Available Nursing Scholarships?
To apply for a nursing scholarship, students need to meet specific criteria. Some requirements for eligibility include having a minimum 3.0 GPA, being a US citizen, and possessing a relevant nursing license or background.
Scholarship programs may require additional information, like writing an essay, and students should research the necessary details.
Examples of nursing scholarships for RN to BSN programs include:
- A Nurse I Am: available to any nursing student enrolled in an accredited program and awards up to $3,000 in funds toward a nursing education
- Army Nurse Corps Association Scholarship Program: for those who are active military members or have served in any branch this awards up to $3,000 in scholarships
- The Jane Delano Nursing Student Scholarship Award: provides up to $3,000 for nursing students with a background in volunteering or working for the American Red Cross
2. Pell Grants
Pell Grants are typically given to undergraduate students pursuing a bachelor's degree. The amount awarded depends on the financial need and certain conditions, such as a school's participation in the program.
This type of grant does not require repayment and is an excellent choice for students seeking RN to BSN online program financial aid options.
The first step nursing students should take in determining eligibility for receiving a Pell Grant is to complete the Free Application for Federal Student Aid (FAFSA) form, which is available online.
Students must have a handle on the cost of attendance for their school of choice to understand the amount they might need, so it is a good idea to research all tuition fees before filling out the application.
What Are Examples of Available Pell Grants for Nursing Students?
To be eligible for a Pell Grant, nursing students must meet certain income and academic standards, and individuals need to check specific requirements regarding their circumstances.
The types of Pell Grants for nursing students include:
- Federal Pell Grant: awards up to a maximum amount of $7,395 for 2023-24, and this amount changes yearly
- Federal Supplemental Educational Opportunity Grant (FSEOG): provides between $100 to $4,000 to students demonstrating outstanding financial need
3. Student Loans
Students seeking RN to BSN online program financial aid options can consider taking out a loan to pay for the expenses that accompany earning a bachelor's degree.
These loans are generally money borrowed from the government or a private lender to help with tuition and other costs for college and usually require repayment, including interest.
Completing the FAFSA form is essential to understanding eligibility for a student loan and is required by a school's financial aid office.
What Are Examples of Available Loans for Nursing Students?
Different types of loans are available for students to explore when considering how to pay for school and can be found online through many public resources.
Student loans available for RN to BSN programs include:
- Nursing Student Loan (NSL): offered by the Health Resources and Services Administration (HRSA), is for part-time or full-time students pursuing an RN degree and are low-interest, long-term loans with no limit
- Federal Student Loan: offered by the U.S. Department of Education, have fixed interest rates and different types available, such as direct subsidized loans or direct unsubsidized loans
- Smart Option Student Loan, a private student loan offered by Sallie Mae, is for nursing students and helps cover tuition, housing, training costs, and more
4. Employer Tuition Reimbursement Programs
Financial aid options for an RN to BSN online program also come in the form of tuition reimbursement offered by employers.
Essentially, the company will contribute a predetermined amount of money toward the cost of attendance to encourage employees to pursue higher education.
These employer tuition reimbursement programs support employee development, cover some or all the costs of earning a degree, and are an excellent option for students in financial need.
Are There Employer Reimbursement Programs for Nurses?
Several employers offer compensation for earning a bachelor's degree in nursing. An excellent example is hospitals, known to reimburse registered nurses who obtain a nursing degree while employed with them.
Registered nurses seeking a degree have opportunities to consider jobs in healthcare offering added financial incentives such as employer tuition reimbursement, which they should take advantage of.
5. Student Loan Forgiveness
Another financial aid option where individuals do not necessarily get reimbursed but instead qualify to have their loans canceled is through student loan forgiveness.
Some students may be eligible for loan forgiveness through federal or state programs, which means they are not required to repay the borrowed money.
Are There Student Loan Forgiveness Programs for Nurses?
There are many instances where individuals can have their loans forgiven, including working as a nurse or other medical professional. Registered nurses should research available loan forgiveness programs to determine eligibility.
Examples of loan forgiveness programs for nurses include:
- Public Service Loan Forgiveness (PSLF): forgives the balance on direct loans for qualified individuals in government jobs or those employed by not-for-profit organizations
- Nurse Corps Loan Repayment Program (NCLRP): repays up to 85% of unpaid nursing debt for registered nurses and nurse faculty working in underserved communities
- Army Active-Duty Health Professions Loan Repayment Program: registered nurses who commit to a three-year minimum Army service qualify to receive up to $120K to repay their nursing loans
Explore Online RN to BSN Financial Aid Options Today
By taking advantage of these five RN to BSN online program financial aid options, registered nurses can explore several opportunities to make pursuing a bachelor's degree in nursing more affordable and attainable.
