Tips on Applying For Financial Aid, Federal Student Loans and Private Loans

If you're interested in pursuing a career as a nurse, but aren’t sure about how to find the money to pay for a pricey nursing education, you might want to explore the options of applying for financial aid or a student loan. Tuition for a nursing program can be expensive, and financial aid and student loans are designed to help struggling students achieve their career goals. 


Tips on Applying for Financial Aid and Student Loans

In most cases, all of the information you'll need to secure financial aid and federal loan money is publicly available and is relatively easy to find. The Internet is a great source of information on applying for financial aid and student loans—a single search will turn up dozens of reputable sites providing listings of available funding sources.


In addition to the web, it's a good idea to ask for information directly from the school of your choice; a representative will be able to direct you to financial aid, scholarships, and grants that are specifically available for the program you'll be pursuing.

When you're ready to apply, consider the following tips to help ensure an effective application for financial aid or a student loan:

·         Be honest about your financial situation. The worst thing you can do is “fudge the numbers” on your loan or aid application, which can easily result in your funding being withdrawn in the middle of a semester when the truth is discovered.

·         Plan ahead by preparing your applications well before the deadline. In most cases, late applications will not be accepted.

Applying for Financial Aid

·         Apply for every financial aid opportunity and student loan for which you qualify. Cover all your bases by making sure you have backup plans lined up in case financial aid doesn't come through. When in doubt, apply for more loans, not less. Many students choose to pay their tuition with several smaller funding sources rather than one big loan.

·         Consider all possible government sources of financial aid (federal, state, and local), as well as private loans that may be available specifically to your ethnic or religious group.

·         Consider scholarships and grants as alternate sources of funding. They may not be as likely as student loans and financial aid programs, but they're free money that will never need to be repaid.

Securing a Private Loan for Your Nursing Education 

In some cases, student loans and financial aid aren't the best fit. If there isn't enough financial aid available in your area, or your family circumstances make it unlikely that you'll qualify, a private loan may be the best option for you.

Banking institutions and lenders are usually willing to offer reasonable interest rates on education loans. The only potential caveat is that many of these loans are payable in monthly installments from the time you take out the loan, unlike student loans, which don't require any repayment until after your education is completed. A conventional bank loan may still be a good option if you're working while pursuing your nursing degree, but students without an income should be cautious about agreeing to loan terms that they may have trouble paying on time.


Here is another resource to consider while applying for financial aid.


For more information on LPN duties, return to the home page.



Nursing in Australia







Educational Considerations
Funding Education
Beyond the LPN Degree Opportunities
Career Opportunities
Other Resource Articles

travel nurse