Affordable Education: How to Get a Nursing
Degree on a Budget
The pandemic worked as a catalyst for the healthcare segment, driving an employment boom like never
before. Nursing has emerged as a high-demand career in the US because of the labor shortage in the
segment. According to the Bureau of Labor Statistics, the average annual median salary of registered nurses
in the country is $ 81,220. The hourly wage rate is $ 39.05, which is equally impressive.
With a high-income potential, excellent growth prospects, and long-term stability, the career option emerges
as a hot favorite among young professionals. Not to mention, working as a nurse is a chance to support
patients and make a difference. But a nursing degree requires relentless hard work and costs tons of money.
According to statistics, the cost of a bachelor’s degree in nursing is between $20,000 to over $100,000,
while a master’s degree may range between $24,000 and $80,000. An associate degree costs around
$20,000 in public universities and over $40,000 in private ones. The numbers are intimidating for young
students looking forward to building a nursing career.
Fortunately, you can get a nursing degree and build a dream career as a registered nurse without breaking
the bank.
Here are a few proven tips for affordable education for aspiring nurses:
Look for an Affordable Institution
The cost of a nursing degree can be the biggest hindrance for a student running short of money. But there
are institutions where you can pursue affordable education. Not everyone can afford an Ivy League program,
but it shouldn’t keep you from pursuing a dream career. You can find tons of options once you explore nonprofit vs. for-profit colleges.
Non-profit colleges bring quality education within reach, even for those who cannot spend a fortune on an
expensive degree. Online nursing programs are also a viable alternative because they can save you
commuting costs and residential expenses (if you relocate for studies). Accelerated degrees enable you to
complete your education and join the workforce sooner.
According to Wilkes University, online nursing is an excellent option for working professionals looking to
advance their education and add a specialty while being employed. It translates into career advancement
without missing out on current income. Besides the flexibility and cost-savings, online programs open the
opportunity to get valuable guidance and mentorship.
Explore Your Funding Alternatives
Funding a nursing degree may still be a concern, even if you find an affordable college or university. Most
American students can afford the tuition fees out of pocket, so they aren’t alone. The good news is that
healthcare students can easily procure funds, grants, and scholarships because of the high demand and
lucrative income prospects in the industry.
Here are a few alternatives to explore:

Student Loans
Student loans are the most popular option for funding education in the US. Statistics show that the current
student loan portfolio in the country has 43 million borrowers owning a debt of more than $1.6 trillion. While
you have to repay the loan, job security and a good income potential can help you do it.

Scholarships
Deserving nursing students can get scholarships from various organizations such as schools, companies, and
the state council. Scholarships are given on the basis of merit or need. Finding suitable options and applying
early gives you better chances of being accepted to a scholarship.

Financial Assistance
Most colleges have financial assistance packages to help students cover tuition costs and other expenses
instead of paying them at the start of the program. You can research the plans on the college website to
understand your eligibility and other aspects.

Employer Support
Working professionals pursuing advanced nursing degrees can seek employer support with funding. Since
the demand in the healthcare industry is high, employers are keen to support employees for further
education to retain them for the long haul. Consider discussing the option with your employer to get
financial aid for your degree.
Save on Textbooks
Paying for the nursing program is a big deal. You may be surprised by the cost of textbooks once you enroll
in a degree. They are the biggest ongoing expense because you will have to buy them throughout the
program. Being a little savvy and resourceful can help you minimize the cost of textbooks.
You can borrow them from the library and look for eBooks because they are comparatively less expensive
than paper versions. Buying second-hand books is another option because seniors may want to pass them
down at a fraction of the cost.
Summing Up
A nursing degree sets you up for a lucrative career in healthcare. But the cost of a nursing degree may
dissuade you from pursuing the goal. You can follow these tips to get it on a budget, so don’t give up on
your dream because it is achievable.