Most Affordable Online Psychiatric Nurse Practitioner Programs for 2024

How much financial aid you can get for your online psychiatric nurse practitioner program

Financial aid comes in many forms, including scholarships, grants, and loans. The first two are the best option for students to save money because they don’t have to be paid back. On the other hand, students should be more cautious when taking out loans because students will ultimately have to pay back the money. Fortunately, most loans come with deferred interest and students won’t have to start making payments until they’ve graduated.

If the psychiatric NP program has a class schedule that allows you to continue working

Many PMHNP programs are part-time. Since a lot of students are already practicing registered nurses, the ability to work while in school provides the income necessary to pay tuition and other costs.

How expensive application fees are

If you plan on applying to many schools, prepare to pay roughly $60 per application. To limit the amount of money spent on application fees, search for programs that have lower fees and prioritize where you really want to apply.

Whether you live in-state or-out-of-state

Residency is usually important regardless of the type of institution you attend, especially if a program requires you to attend campus for immersive classes or orientation. Depending on how far away you live, these on-campus visits can cost you more than just travel time. Additionally, many schools charge higher tuition for out-of-state residence.

How much of the NP program coursework is offered online

Some programs hold in-person learning or clinicals at approved sites close to where you live or work while others hold at least some classroom learning on campus. For students who commute, having in-person components can significantly impact the cost.

If the psychiatric NP program is offered by a private or public college

Generally speaking, private schools have higher tuition rates than public schools. At the same time, out-of-state tuition rates can rival or exceed the cost of attending a private institution. Keep these in mind when determining the overall cost.

1. Search for scholarships and grants designed specifically for psychiatric NP students.

Scholarships and grants are gift-based assistance that doesn’t need to be paid back, making them the most desirable forms of financial aid and highly competitive. To increase your chances of winning an award, focus on scholarships and grants specifically intended for nurse practitioners looking to work in psychiatric or mental health fields. To get an idea of what’s available, check out our list of scholarships for nurse practitioner students.

2. Ask about employer tuition reimbursement

There are some employers willing to cover a portion or all of their employees’ tuition to help them pursue higher education. You should check with your benefits coordinator to see if this is an option for you. But remember, some employers may require you to work for them for a set time after graduation to qualify.

3. Check for student discounts

Some schools apply discounts directly tied to tuition. This can include discounts for students from states with reciprocity agreements with their school or students with veteran status. Other discounts, such as ones for laptops from computer companies and scrubs from specialty clothing stores, are also available. Discover more discounts by visiting our nursing students discount page.