The Federal Nursing Scholarship Program provides tuition, required fees and other education-related costs, such as books and supplies, as well as a monthly stipend for living expenses ($1,269 for 2009-10). In exchange, graduates must work for at least two years at a health care facility that has a critical shortage of nurses.
About 200 students a year receive the grants. Typically, the recipients report no expected family contributions on the Free Application for Federal Student Aid (FAFSA) and are already accepted or enrolled full-time in an undergraduate nursing program.
Depending on the state in which you live, state grants for nursing education may also be available (see Resources). For example, in Kansas, the Nurse Education Services Scholarship reimburses up to 70 percent of costs associated with full-time university attendance in pursuit of a nursing degree as long as the student commits to teach nursing in Kansas after graduating.
In Minnesota, incentive programs include education-loan forgiveness of approximately $6,750 annually for up to four years for nurses who agree to teach at least 20 hours per week in a post-secondary nursing program for a minimum of three years. A mid-level nurse who serves a minimum of four years in a rural area receives the same amount; and nursing students who agree to work a minimum of three years in a nursing home receive $3,750.
Specialized government grant programs may not pay all your nursing education expenses, so you might also want to explore federal and state grant programs that are available to all students. Federal grants, such as Pell Grants, don't require specialized service after graduation and are based on your level of income. A good resource for more information on the types of grants available is the financial aid office of the college or university you will be attending.
The most difficult part of nursing school might be getting admitted. According to the American Nurses Association, baccalaureate degree programs turned away 20 percent of qualified applicants in 2008, while associate's degree programs turned away 32.7 percent. Paying for the degree is important, but you might want to focus on getting admitted to a program first.
The Nursing Education Loan Repayment Program pays 60 percent of registered nurses' qualifying student loan balances if they work for two years at a facility with a critical shortage of nurses (see Resources). Nurses who work for a third year can deduct an additional 25 percent off their education loans. In the past several years, between 200 and 600 initial awards were made per year, with highest preference given to those with financial need.