It can be challenging to finance LPN school, but there are a number of financial aid options available. The cost of tuition and other associated expenses can add up quickly, so it is important to explore all the options available to you. Some of the most common forms of financial aid include grants, scholarships, loans, and work-study programs.
Each type of aid has its own set of eligibility requirements, so be sure to read the fine print and compare your options before making a decision. And don’t forget to ask your school’s financial aid office for help – they are experts in this area and can guide you through the process.
Types of Costs Associated with LPN School
The cost of LPN school can vary depending on the program you choose and the location of the school. In general, however, there are a few types of costs that are associated with most LPN programs.
Tuition: This is the amount you will pay to the school for your classes. It can be paid all at once or in installments, and many schools offer discounts for students who pay their tuition in full up front.
Books and other course materials
This can include textbooks, lab manuals, scrubs, and other items that you will need for your classes. Your school may have a bookstore where you can purchase these items, or you may be able to find them used or rent them from other students.
Room and board
If you are attending an on-campus LPN program, you will need to pay for your housing and meals. This can be done through a meal plan with the school or by renting an apartment off campus.
Transportation costs
You may need to pay for transportation to and from your clinical rotations or to attend off-campus classes. This can include the cost of a car, gas, parking, and public transportation.
Financial Aid Options for LPN Students
There are a number of financial aid options available for LPN students. Some of the most common include grants, scholarships, loans, and work-study programs.
Some financial aid options are better than others, so it is important to compare your options and choose the one that best suits your needs. We’ve provided a step by step guide on how to compare financial aid options here:
Step 1 – Apply for FAFSA
The first step in applying for financial aid is to fill out the Free Application for Federal Student Aid (FAFSA). This form is used to determine your eligibility for federal aid programs, such as grants and loans.
You can fill out the FAFSA online at studentaid.gov/h/apply-for-aid/fafsa.
Step 2 – Check with Your Employer
Some employers offer tuition reimbursement programs that can help cover the cost of LPN school. If you are currently employed, it is worth checking with your employer to see if they offer any type of tuition assistance. Most employers that offer this type of benefit have strict eligibility requirements, so be sure to read the fine print before assuming you’ll qualify.
Step 3 – Explore Scholarships and Grants
Scholarships and grants are forms of financial aid that do not have to be repaid. There are a number of scholarships available to LPN students. When searching for scholarships, be sure to look for ones that specifically target LPN students or those in the nursing field. You can also check with your school’s financial aid office to see if they have any scholarships available.
You can search for scholarships and grants on websites like FastWeb, Scholarships.com and CollegeBoard.
Step 4 – Consider Loans
If you have exhausted all other options, loans may be your best bet for financing LPN school. There are a number of different types of loans available, so it is important to compare your options before choosing one. The two main types of loans are federal loans and private loans.
Federal Loans
Federal loans are provided by the government and typically come with lower interest rates and more favorable repayment terms than private loans. If you decide to take out a federal loan, you will have to repay it with interest.
You can apply for federal loans by filling out the FAFSA.
Private Loans
Private loans are provided by banks, credit unions, and other financial institutions. They typically have higher interest rates than federal loans and may not offer as favorable repayment terms. If you decide to take out a private loan, you will have to repay it with interest.
Before taking out a private loan, be sure to compare the interest rates and repayment terms of different lenders. You can use a tool like the CollegeBoard Loan Finder to compare your options.
Step 5 – Consider a Work-Study Program
If you are struggling to pay for LPN school, you may be able to participate in a work-study program. Work-study programs allow students to work part-time jobs to earn money to help pay for their education.
To be eligible for a work-study program, you must fill out the FAFSA and demonstrate financial need. You can learn more about work-study programs on the CollegeBoard website.
Other Options
Military benefits
If you are a member of the military or a veteran, you may be eligible for scholarships, grants, or other types of financial aid. For example, the GI Bill can be used to cover the cost of tuition, books, and other expenses associated with LPN school.
You can learn more about the benefits available to military members and veterans on the Department of Veterans Affairs website.
Payment plans
Some schools offer payment plans that allow students to pay for their tuition and fees over time. These plans typically have interest rates, so be sure to compare the total cost of the plan before enrolling.
You can learn more about payment plans on the CollegeBoard website.
International students
If you are an international student, you may be eligible for scholarships or other types of financial aid. Your country may also provide financial assistance for students who wish to study abroad.
You can learn more about scholarships and other forms of financial aid for international students on the U.S. Department of State website.
Minority or disadvantaged students
If you are a minority or disadvantaged student, you may be eligible for scholarships or other types of financial aid. For example, the Minority Nurses Scholarship Program offers scholarships to minority students who are enrolled in nursing programs.