Financial Aid for Nursing Students: An Overview

Written by: University of Tulsa • Aug 6, 2026

A smiling nurse holding a clipboard in a hospital corridor.

The higher nurses go up the career ladder, the greater impact they can have on health care outcomes. Nursing positions involving specialized care or administrative duties can make a difference in a facility’s care delivery strategies and have a positive impact on patient outcomes. This means that nurses will need to invest in a nursing degree, such as a BSN, to obtain licensure.

Fortunately, there are several different types of financial aid for nursing students to consider.

What Does Financial Aid for Nursing Students Look Like?

The primary function of financial aid is to help ease the financial burden of education, making it easier for individuals to achieve their academic and professional goals.

Several types of aid are available for consideration, and there are typically financial aid opportunities at both the federal and the state levels.

Scholarships

A wide range of scholarship opportunities is available for current and aspiring nurses to explore:

Federal Scholarship Opportunities: Federal scholarship programs offer funding to nursing students based on academic merit, financial need, or service commitments. These awards often support students preparing to enter high‑need areas of nursing and may come with post‑graduation service requirements.
Private Scholarship Opportunities: Private foundations, nonprofits, and community organizations offer a range of scholarships for current and aspiring nurses. These awards may be based on academic performance, personal background, community involvement, or specific areas of interest.
Professional Organization Scholarships: Many professional nursing associations provide scholarships to support the next generation of nurses. Organizations such as the American Nurses Association (ANA) and the Academy of Medical‑Surgical Nurses (AMSN) regularly offer scholarships tied to membership, academic achievement, or career aspirations.

Grants

Unlike scholarships, grants are typically based on students’ financial need. Individuals usually have to provide in-depth information to qualify.

Federal aid eligibility is determined by first completing the Free Application for Federal Student Aid (FAFSA) form. Students must fill this form out every year to maintain eligibility. Grant opportunities at the state level vary on a state-by-state basis and can be restricted to students attending college in the same state of residence. While most states use the FAFSA form to determine eligibility, others may require additional paperwork.

Student Loans

Nurses can also opt to apply for student loans to help pay for their education. Unlike scholarships or grants, loans must be repaid.

Nurses can apply for four common types of student loans:

Federal Subsidized Loans: These loans are direct loans given to the student based on their financial need.
Federal Unsubsidized Loans: These loans are direct loans strictly determined by the school. The amount is commonly calculated by specific metrics, such as how much other aid the student receives and the cost of attendance. A student’s credit rating doesn’t factor into this determination.
Federal PLUS Loans: These are unsubsidized loans offered to a student’s parents and graduate or professional students.
Private Loans: These are nonfederal loans issued by financial institutions such as banks. They may need a cosigner, depending on the student’s credit rating. Parents can also apply for their own loans to assist the student.

The Federal Direct Loan Program oversees all federal student loans, while the issuing institutions govern all private loans.

Loan Forgiveness Programs for Nurses

Loan forgiveness programs can significantly reduce the long‑term cost of earning a degree by canceling part or all of a borrower’s remaining student loan balance. These programs are especially valuable for nurses who take on federal loans to fund their education and want to align repayment with meaningful service in the field.

Tuition-Focused Forgiveness: Many nurses qualify for tuition‑focused forgiveness programs, which are designed to offset the cost of nursing school by eliminating debt tied directly to tuition expenses.
Service-Based Loan Forgiveness: A large portion of forgiveness opportunities fall under service‑based programs, which require nurses to work in designated shortage areas, public service roles, or nonprofit health systems for a set number of years. In exchange, nurses can receive substantial loan cancellation.
Profession-Based Loan Forgiveness: Nurses may also benefit from programs tailored specifically to the profession. These programs not only reduce financial burden but also help strengthen the nursing workforce in communities that need it most.

Nurse Corps Loan Repayment Program (LRP)

The Nurse Corps LRP offers substantial repayment assistance for nurses who work in critical shortage facilities or other eligible sites. Participants can have a significant portion of their qualifying federal loans repaid in exchange for service commitments, making it a great option for nurses interested in underserved communities.

Public Service Loan Forgiveness (PSLF)

PSLF provides full forgiveness of remaining federal Direct Loan balances after 120 qualifying payments while working full‑time for a government or nonprofit employer. Many hospitals, community clinics, and public health agencies meet PSLF’s employer requirements, allowing nurses to build long‑term careers in mission‑driven environments while progressing toward forgiveness.

Tuition Reimbursement Programs

Licensed RNs seeking to return to school to further their careers may be eligible for tuition reimbursement from their employers. Some health care facilities offer programs that help RNs cover some of the costs associated with their educational endeavors. Continued enrollment in these programs may be contingent on meeting employer-defined requirements, such as maintaining successful performance at both work and school.

Importance of Financial Aid for Nursing Students

For aspiring or active nurses who want to advance their careers, financial aid can be a crucial step in the process. Higher education costs money, and the price tag can make attending college cost-prohibitive. Aid helps alleviate the financial burden of education, making it easier to enroll in school and pursue a desired career.

Importance From a Health Care Perspective

If financial aid makes it economically feasible for students to pursue nursing careers, it can lead to a larger nursing workforce. Those who secure financial aid, graduate, and pursue work in the field will be entering it at an ideal time due to the ongoing nursing shortage.

Importance From a Patient Perspective

Access to nursing education benefits patients: According to the American Association of Colleges of Nursing (AACN), an increase in nurses with BSN degrees gives patients a 24% greater chance of surviving an in-hospital cardiac arrest. This increase can also lower the odds of inpatient mortality by 24.6%.

Additionally, boosting a health care facility’s staff with nurses with BSNs by 10% can reduce the odds of death among patients with Alzheimer’s disease and other forms of dementia by 10%. And hospitals with an increased number of nurses with BSNs have a 7.8% reduction in patient hospital stays.

How to Obtain Financial Aid

The first step to gaining financial aid is filling out the FAFSA form. This annual process determines eligibility for need-based aid.

Completing the FAFSA form is important for everyone, as it can uncover aid that students were unaware they were eligible for.

Taking the time to research various scholarship programs online is also important. Several health care-centric websites, such as AACN and Johnson & Johnson, have webpages devoted to scholarships providing information such as:

Scholarship amount
Number of scholarships awarded
Intended recipients
Award date
Eligibility requirements
Application process

When applying for aid, paying attention to every detail associated with the application process is important. Overlooking details can carry serious consequences. Because application dates and deadlines are particularly important, many students keep calendars to track key dates related to financial aid opportunities they’re pursuing.

When considering taking out student loans, be sure that the terms are reasonable in the long term. Remember that student loans must be repaid and aren’t discharged by declaring bankruptcy like other debt. Part of this process should include researching loan forgiveness programs.

Financial Aid at The University of Tulsa

Students considering enrollment in The University of Tulsa can receive financial aid through many different pathways. This aid is available to students entering the program in any term. TU recommends several different grant and loan opportunities, including the following:

Federal Pell Grant: The grant amount is derived from a combination of federal funding and an entitlement computation formula and can be awarded once a student completes the FAFSA form.
Subsidized and Unsubsidized Loans: These loans, awarded upon FAFSA completion, can be used to cover tuition, fees, and classroom materials.
Loan Assistance for Oklahoma Students: This program allows students to apply for loans via the Nursing Student Assistance Program, which is sponsored by the state of Oklahoma through the Health Care Workforce Training Commission (HWTC). This loan opportunity is limited to residents of Oklahoma.
External Scholarship and Grant Opportunities: Organizations such as the AACN offer scholarships and grants to celebrate nursing students who deserve academic recognition.

To receive these forms of financial aid from TU, students must complete the FAFSA application. Students should fill out this form as soon as they can to determine their eligibility for aid.

Organizations Offering Financial Aid for Nursing Students

Many organizations and foundations have scholarships and financial aid available for nursing students. Some of these are for nurses with specific backgrounds, specialties, and certifications. Organizations offering financial aid include:

Nurses Educational Funds: Provides financial aid for registered nurses who meet varying requirements.
Oncology Nursing Foundation: Provides financial support for oncology nursing students and supports oncology nursing as a whole.
National Black Nurses Association: Provides a wide range of scholarships for student members at all nursing levels.
Emergency Nurses Association (ENA) Foundation: Provides scholarships to emergency nursing students and other nursing students.
Nurse Corps Scholarship Program: Provides financial support to nursing students who agree to work at a Critical Shortage Facility (CSF) after graduation. The monthly stipend covers tuition, eligible fees, and reasonable costs, such as supplies and uniforms.

How Much Do Nurses Make?

Salary is an important factor to consider when determining if earning a nursing degree is worth it. Scholarships and loan forgiveness can take care of a portion of academic-related expenses, but what about the remainder?

Knowing how much nurses typically earn can help paint a full financial picture. According to the U.S. Bureau of Labor Statistics, the median annual wage for registered nurses in 2024 was $93,600. Advanced practice registered nurses made significantly more, with the BLS reporting that nurse anesthetists, nurse midwives, and nurse practitioners made a median annual salary of $129,210 in the same year.

Take a Bold Step Toward a Bright Future

Financial aid for nursing students isn’t just a means to help pay for the education needed to grow your nursing career. It’s also an investment in your future. If you want to pursue your registered nurse (RN) license and have a non-nursing bachelor’s degree, consider our Accelerated Bachelor of Science in Nursing (ABSN), which you can complete in as few as 21 months.

The University of Tulsa also offers multiple nursing programs to help you move to the next phase of your nursing career, whether you’re looking for a master’s or doctorate degree. Learn more about how TU can help you make an even bigger difference in a critical field.

Recommended Readings

Change Theory in Nursing: How It’s Evolving the Profession

Director of Nursing: Salary and How to Become One

What Does a Charge Nurse Do?

Sources:

American Association of Colleges of Nursing, Baccalaureate-Prepared Nurses Are Essential to Quality Health Care

American Association of Colleges of Nursing, Scholarships and Financial Aid

Emergency Nurses Association Foundation, Grants and Scholarships

Federal Student Aid, “Don’t Miss Out on Federal Pell Grants”

Federal Student Aid, “Federal Grants for College or Career/Trade School”

Federal Student Aid, “Public Service Loan Forgiveness (PSLF)”

Federal Student Aid, “When It Comes to Paying for College, Career School, or Graduate School, Federal