How to Pay for Nursing School: Exploring Your Options

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Figuring out how to pay for nursing school might seem challenging, but there are many options available to you. First, apply for nursing school scholarships. You’ll also want to fill out the FAFSA form to determine if you’re eligible for federal loans and government grants for nursing school.

nurse writing at desk

Wondering how to get nursing school paid for? While enrolling in nursing school requires careful financial planning, it is an investment in your future. Nursing is a rewarding career with many benefits, including high salary potential, that make it worth the time and financial investment.

According to the U.S. Bureau of Labor Statistics (BLS), registered nurses (RNs) made a median annual salary of $86,070 as of May 2023. Should you choose to advance your career and become an advanced practice registered nurse (APRN), the earning potential is even higher. APRNs made a median annual salary of $129,480 during the same period.

But before you can start thinking about advancing your career, you must learn how to pay for nursing school to earn a Bachelor of Science in Nursing (BSN). At Northeastern University, our financial aid counselors are always happy to work with students enrolling in our Accelerated Bachelor of Science in Nursing (ABSN) program.

Our ABSN program allows students to earn a BSN in as few as 16 months. By leveraging their preexisting college credits, students can begin nursing coursework as soon as their first semester. At Northeastern, we support our students from admission to graduation. Our team of admission and financial aid counselors will help you navigate your financial aid options.

To help you prepare for nursing school and your future career, consider the following guidance on financial aid for nursing students.

nurse talking with patient

Why become a nurse? Explore these top 10 reasons to apply to nursing school.

Understanding the Costs of Nursing School

Before assembling your application package, it’s important to carefully research all costs associated with your chosen nursing school. Remember that students often do not pay the full cost of nursing school themselves. There are many different financial aid vehicles, including grants for nursing students, which can defray the cost.

Tuition and Fees

Colleges develop their tuition costs on a per credit hour basis. You can arrive at the expected total cost of tuition by multiplying the per credit hour tuition cost with the number of credit hours required for graduation. Remember that you may also need to pay for prerequisite credit hours to be eligible for the program.

In addition to these tuition costs, you can expect fees for items such as:

  • Textbooks
  • Lab supplies
  • Test assessments
  • Nursing school scrubs
  • Insurance

Cost Comparison: Four-Year BSN vs. ABSN

The total cost to attend nursing school depends on factors like the number of prerequisites you need to complete and which nursing school you attend. Every school sets its own tuition rate, and it’s best practice to compare costs across different schools. Remember that paying a little more per credit hour may be worth it if it’s the right nursing school for you.

NEU nursing student with stethoscope

One major factor that influences tuition costs is whether the program offers a traditional four-year BSN or an accelerated BSN. At Northeastern, because students can complete a BSN in as few as 16 months, they can generally expect to pay less in tuition than students attending a four-year BSN program.

How to Get Nursing School Paid For: Nursing School Scholarships

Once you have an idea of how much you can expect to pay, start researching your financial aid options. At Northeastern, our ABSN admission counselors can assist you with this process and connect you to a financial aid counselor. One way to defray the cost of your nursing education is through nursing school scholarships.

Types of Scholarships for Nursing Students

There are many different types of scholarships available to undergraduates. These include scholarships awarded on the basis of:

  • Financial need
  • Academic merit
  • Minority status
  • Family information (e.g., first-generation college student/veteran family)
  • College major (e.g., nursing)
  • Intended career path (Some scholarships are awarded specifically to future healthcare workers.)

Foundations, private corporations, and colleges may offer scholarships for nursing students. Applying for scholarship opportunities is an important step toward figuring out how to pay for nursing school.

How to Find Scholarships

There are many scholarship databases available. These databases include all sorts of scholarships, not just those for nursing students. Use the available search filters to narrow down your options to determine which ones you’re eligible for.

NEU nursing student writing notes at desk

You can search for scholarships specifically for nursing students, as well as for scholarships that have other criteria (e.g., minority status or financial need). Here are a few scholarship databases to consider:

In addition, don’t forget to search for scholarships from your intended nursing school. Northeastern University, for example, is pleased to offer exceptional scholarship opportunities to our students. Students enrolled in our ABSN program at Burlington receive a $15,000 scholarship dispersed over four semesters. Students enrolled at Charlotte automatically receive $26,000. Some students in Charlotte may also be eligible for an additional $10,000 based on academic merit.

Tips for Applying to Scholarships

You probably will not win every scholarship you apply for, but the more applications you submit, the better your chances. To help improve the probability, use the following tips:

  • Make sure you fit the eligibility criteria before applying.
  • Follow the application instructions precisely.
  • Keep careful track of deadlines; submit early if possible.
  • Do not neglect to apply for scholarships with smaller awards; these typically have less competition.

Learn how to apply for nursing school in just five main steps.

woman typing on laptop

Financial Aid and Government Grants for Nursing School

Scholarships are just one way to fund your education. You should also take advantage of state and federal financial aid opportunities. Consider the following government grants for nursing school:

Federal Grants

Federal financial aid can come in many forms, including Federal Pell Grants. A Pell Grant is available to students who have not yet completed a bachelor’s degree and have demonstrated financial need. Your financial need will be assessed based on the financial data you submit on the application.

State Grants and Aid Programs

Grants for nursing students aren’t restricted to the federal government alone. State education departments typically offer some form of financial aid, particularly to in-state college students. In addition to state-funded grants, your state education department might offer additional financial resources to consider.

How to Apply for Financial Aid

If you’re applying for state-funded aid, you’ll need to follow the required procedures for that particular program. You can apply for all types of federal financial aid, including grants and loans, by filling out the Free Application for Federal Student Aid (FAFSA). You will need to submit the FAFSA for each year that you’re in school.

NEU nursing student smiling

Some states also use your FAFSA data to determine your eligibility for state funding. The same applies to some colleges. Be sure to fill out the FAFSA as soon as it becomes available each year.

Student Loans for Nursing School

The wonderful thing about scholarships and government grants for nursing school is that they do not need to be repaid; however, they might not cover the total cost of your education. You can bridge the gap with student loans for nursing school.

Your FAFSA will determine if you’re eligible for federal student loans, which offer favorable terms and interest rates. You might also consider applying for student loans available from banks and credit unions, but they typically have higher interest rates. Be sure to research your options carefully. You should fully understand the loan terms and your obligations before signing on the dotted line.

Working Your Way Through Nursing School

Nursing school — especially on an accelerated timeline — is a full-time job. You may find yourself putting in 50- to 60-hour weeks. Because of the commitment, working your way through nursing school can be challenging; however, if it’s necessary, consider the following:

nursing students take notes during a lecture

How hard is nursing school? Read more to learn about nursing school and how you can meet the challenges.

On-Campus and Work-Study Jobs

After submitting the FAFSA, you may find that you are eligible for a work-study position. A work-study job usually takes place at the learning site, which means you do not need to worry about an additional commute. Even if you are not eligible for a work-study job, you may be able to find other part-time employment opportunities at the learning site.

Off-Campus Healthcare Jobs

If you choose to work away from the learning site, consider looking for a healthcare-related position. For instance, you might work as a home health aide, hospital receptionist or, if qualified, a phlebotomist or certified nursing assistant (CNA).

Other Off-Campus Jobs

If a part-time healthcare-related job isn’t available or does not fit your school schedule, consider looking for jobs with highly flexible schedules. For instance, you might look for positions in childcare, retail or hospitality.

Other Funding Options and Resources

Some students may have additional ways of paying for nursing school. For instance, you might be eligible for tuition reimbursement from your employer, particularly if you currently work for a hospital in need of registered nurses. You might need to commit to working for that organization for a set period of time after graduation.

NEU nursing student standing by lockers

Other options may also be available to you, such as:

  • Military education benefits
  • Financial assistance/loans from family members
  • Nursing apprenticeship programs

Explore Your Options at Northeastern

Northeastern University offers high-quality nursing education that effectively prepares students to become confident and highly capable practice-ready nurses. With our small class sizes and experienced faculty, we’ve invested in our nursing students. Are you ready to invest in your future?

Contact an admission counselor today to find out how you could earn your nursing degree in as few as 16 months. Our admission and financial aid counselors will help you develop a plan to pay for your education.

Get Your Free ABSN Program Guide

Our ABSN program guide includes everything you need to know about the accelerated path to nursing.

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