Federal programs, funded by the U.S. Department of Health and Human Services, include a variety of financial incentives. One program is the Scholarship for Disadvantaged Students, which includes up to $10,000 for tuition and living expenses. Students may apply through the financial aid office of their school. The Nursing Scholarship Program offers tuition, fees and living expenses to selected students who commit to working in a high-need area for 2 years following degree completion. Loan forgiveness programs allow for an approximately 60 percent reduction in repayment of federal loans for nursing students who commit to working in a high-need area. There are similar loan forgiveness programs for nurses offered through the National Health Services Corps.
Most states offer state-based grants and financial aid for nursing students. Illinois has a program that offer tuition grants for state residents pursuing a LPN or RN degree provided that they work in a rural, medically underserved area for the same number of years that they received funding from the state. For instance, the state of Maryland offers a scholarship (up to $3,000 per year) for state residents enrolled in a nursing program with a work commitment based on the number of years of study.
For nursing students and/or nurses with minority backgrounds, minority scholarships provide funds and incentives to work in high-need geographic area and also to specialize in particular fields, such as critical care, mental health and midwifery. The American Association of Critical Care Nurses designates at least 20 percent of its scholarship awards to minority nursing candidates pursuing post-RN study.
Professional associations of nursing specializations, such as nurse practitioners or emergency room nurses, sponsor scholarships for master's and doctoral level programs and/or research. Interested nursing students should check the website of their prospective specialty area and any related nonprofit associations. For example, the American Cancer Society sponsors a scholarship for current registered nurses who want to pursue graduate studies. The stipends are $10,000 per year for up to 2 years.