November 20, 2009, Newsletter Issue #23: Tips for Funding your Nurse Practitioner Education

Tip of the Week

Becoming a Nurse Practitioner can cost you tens of thousands of dollars. And most students don’t have that kind of money lying around. But fortunately there are options that can help fund your education and even pay off existing students loans, like the program offered the U.S. Health Resources and Service Administration (NHSC). Read on to learn two options for paying off your nurse practitioner educational debt.

Scholarship options. The NHSC offers a scholarship program for nurse practitioner students. In exchange for 2-4 years of service at an approved NHSC site, nurse practitioners can get tuition, fees and a living stipend paid. The application process includes submitting transcripts and answering essay questions. Although every applicant isn’t chosen, those with a compelling background and qualifications usually have the best chance.

Loan repayment options. If you’ve already incurred student loans, there are still options for getting assistance paying off debt. The NHSC also offers a loan repayment program. In exchange for 2 years of NHSC service at an approved site, they will award up to $50,000 towards your student loans. To qualify, you’ll need to submit an application for consideration.

Once you’ve completed your service, make sure to partner with a staffing firm. Since they already have relationships established with employers, they can help you find nurse practitioner jobs sooner.

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