New College Grant to Help Nurses Become Teachers

Published on Monday, December 6th, 2010 by Nohel Category: College Scholarships And Grants

Urbandale, IA (CollegeToCareers.com) – The Iowa Nurses Association, together with Iowa Student Loan, announced a new program to provide financial aid to nurses who want to embrace the teaching career. College grants of up to $125,000 per year can be offered to eligible nurses.

Nursing education isn’t a well paid job. Taking into account the rather consistent upfront tuition fees, educational facilities have a shortage in skilled tutors. Iowa Nurses Association president Ginny Wangerin believes having some of these costs waived would help nursing schools bridge the gap between the demand and offer in tutors. Offsetting some of the tuition costs, believes Wangerin, could help a nurse be a full time student and work part time, or work full time and take evening classes.

The program can offer each qualifying nurse an aid of up to $4,000 per academic year. Nursing education doesn’t generally cost as much as a medical school, but it isn’t particularly cheap either. “A lot of students are expected to apply for this package,” continues Wangerin. “Unlike medical schools, where graduates have a higher salary to pay off their student loans, a student enrolled in a nursing education program is far more likely to need the $4,000 financial aid.

Students in a nursing education program are encouraged to look for more financial aid packages, next to the $4,000 per year offered by the INA. Start out with FAFSA to determine your aid eligibility, but don’t solely rely on the federal government as the source of grants. Consult with the financial aid bureau at your school, as they should be able to guide you to getting your aid package. The American Association of Colleges of Nursing maintains an up to date list of financial resources.

Student loans are also a major way of funding your studies. Prospective nursing education students might want to apply for a so-called nursing loan forgiveness program, a financial aid package where certain institutions agree to pay back a share of your loan on your behalf if, after graduation, you agree to work for certain organizations. The Department of Health and Human Services, for instance, will pay back up to 60% of any student loan for nurses who will work for two or more years with a series of non-profit organizations.