10 Best Ways To Finance Your Masters In Nursing Education

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Nursing is one of the most rewarding career paths you can choose to follow. With solid job security, excellent pay, and the satisfaction that comes with knowing that you’re helping others, it offers you plenty to love. But like any other career, education isn’t cheap. Tuition costs continue to climb and figuring out how to pay for your nursing education can be difficult. However, there are numerous options available that may help you afford to get your degree. By finding the right ones and combining them, you can generally find a way to afford your education and get your career moving forward. Here are ten of the best ways to finance your masters in nursing education.

  1. Scholarships This is the obvious path, and the one that plenty of students apply for. There are a wide range of different scholarships available from schools as well as at the state or federal level, but competition can be fierce.
  2. Grants Grants are the other main path students consider since they’re available from the government or other organizations and don’t require any repayment of the funds. Like scholarships, however, the competition to receive one can be tough.
  3. Student Loans Student loans round out the three most commonly used options for paying for school. They’re far easier to get than grants and scholarships, but will have to be paid back by the student over a period of years. Interest rates are often much better than other forms of loans, however.
  4. US Health Services Corps This is one option unique to health care. Those who want to become nurses can seek help from the USHSC, which will pay for some or even all of your tuition if you agree to serve for a period of 2 to 4 years of employment in a rural area that is medically understaffed.
  5. Saving Some students who have foresight and discipline actually start saving for their college education at a young age. It’s rare, and all of the funds may not be saved by the time that college rolls around, but starting early and saving up can really make a difference.
  6. Parents This is the old standby, and many parents are willing to help their children come up with the money they need to pay for college. Of course, it can place a big burden on Mom and Dad as well, and they may not be able to procure all of the funds a student will need. They’re best used as an occasional source of help, such as for help paying rent or food bills.
  7. Work The ‘work my way through college’ method is still viable, as much as it may not be alluring. With many of the points on this list, there will still be a need for money both for tuition and books as well as for living expenses. Working during college is almost a necessity these days.
  8. Military The military offers some of the best ways to fund your education in any field, period. After completing your military responsibilities you can enroll in school with help from the military and not have to worry about where the money is coming from.
  9. Employers Often, employers will offer tuition assistance or compensation programs. By agreeing to work for them for a specified amount of time, major hospitals often agree to pay for an employee’s education. It’s a great option for those who know where they want to work.
  10. Cut Costs While it’s not technically a way to get money for your degree, cutting costs will certainly reduce the amount you need to come up with. Most of the points on this list don’t cover the entirety of a degree’s cost, and reducing money where you can will be important. Splitting rent with roommates, eliminating unneeded bills, and so on will all help you manage your money a little bit better.

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