Online LPN to BSN Programs with Financial Aid: An Inside Look

How These Programs Work

So you’ve already started your LPN career and you’re looking into becoming a registered nurse, but one of the biggest hurdles you face is the cost. Choosing an affordable online RN program is one way to save money. Another way for LPN to BSN students to make their degree more affordable is through financial aid.

First, you’ll need to qualify by meeting requirements for each type of aid and follow application requirements. Colleges and universities, private institutions, and the federal government all offer multiple types of financial aid, and the rules of applying for aid and accepting offers can be overwhelming.

This guide is for students like you who want to find resources to cover education costs, including schools that accept or offer financial aid, qualifying for nursing scholarships, grants, student loans, or other means outlined below.

Checklist: How to Maximize Financial Aid Packages

Getting financial aid to help pay for your LPN to BSN program can give you a huge advantage. However, there are many different requirements unique to various online financial aid opportunities. So, we’ve created the list below to help you stay on top of the application and acceptance process.

1 – Complete the FAFSA Early

The FAFSA application opens on October 1 every year to collect students’ personal and family financial information for the following school year. Fill it out as early as possible since almost all types of federal, state, and school funding will want to see it and much aid is available on a first-come, first-served basis.

2 – Review Eligibility Criteria and Requirements

Most financial aid opportunities have some kind of eligibility requirements. As you’re applying for scholarships and grants, consider:

• Is the scholarship/grant intended for a certain group, such as those from disadvantaged backgrounds?
• Are there any special requirements that need to be met, such as completing community service hours?
• What types of forms should be submitted, for example, personal essays and recommendation letters?

3 – Check Deadlines and Apply Early

Know and keep track of important deadlines. Most institutions do not accept submissions after their stated deadline.

Deadlines to remember might include those for:

• FAFSA application
• Your school’s scholarship application
• Individual scholarships/grants you’re apply for

Consider keeping a calendar with all the LPN to BSN financial aid deadlines that apply to you.

4 – Gather All Necessary Documents

Various documents will need to be curated for the financial aid applications you complete for your LPN to BSN program.

Consider having a folder set aside specifically for:

• Personal essays and statements of purpose
• Transcripts
• Letters of recommendation
• Volunteer records

5 – Receive Feedback on Supplemental Materials

As you gather materials, ask trusted friends, family members, or mentors to review. They’ll be able to tell you if your purpose is clear, your message is concise, and if everything makes sense. They’ll also be able to help you polish your LPN to BSN submissions so they are easy to understand and error-free.

6 – Review Award Letters

If all goes well, hopefully you’ll receive some award letters. Review each letter carefully to make sure your information is correct and to confirm the process for accepting the aid offered. If you receive many of these, consider keeping a spreadsheet or folder where you can store the award letters for review.

Expert Insight

When applying for financial aid, consider using a digital planner or software program to keep track of everything. This is where you can keep all of your documents for easy access, downloading, and uploading, such as weekly calendars, scholarship information packets, essays, and recommendation letters.

Charmaine Robinson, RN, MSN

Common Funding Options for LPN to BSN Students

Now that we’ve covered some excellent examples of LPN to BSN programs, let’s talk about how to fund your education. Most students receive at least one kind of financial aid. Financial aid covers more than just student loans — you can also earn money toward your tuition via need- and merit- based programs and work-study arrangements.

Federal Student Aid

Federal student aid is provided by the United States government and can come in the form of federal student loans, grants, or work-study programs. Federal student loans have low interest rates and can be subsidized or unsubsidized.

The government pays the interest on subsidized loans until you graduate (and sometimes for a few months afterward.) Unsubsidized loans start accruing interest right away. Fill out the FAFSA application to find out how much you’re eligible to borrow and if you qualify for need-based grants.

Institutional Aid

Federal student aid isn’t the only type of aid available to BSN students. Many schools have their own institutional aid set aside for enrolled students.

This aid can come in many forms, including:

• Scholarships and grants for aspiring RNs
• Tuition discounts for health care workers
• Aid for miliary veterans

Institutional aid is often based on merit, financial need, and/or area of study. Learn more about institutional aid from the financial aid office at each school.

Payment Plans

Payment plans are offered by some schools as a convenient and affordable alternative to taking out student loans. Rather than paying the interest associated with federal and private student loans, you can pay your tuition and fees for the semester or year evenly in a series of installments. With average student loan rates ranging from 3.45%-8.08%, payment plans can represent significant savings over loans.

Scholarships & Grants

LPN to BSN students can benefit from various types of scholarships, including:

• School-wide merit scholarships
• Need-based scholarships provided by the school
• State or federal government grants
• Private scholarships

Many colleges will automatically consider you for institutional merit- and need-based scholarships as long as you fill out the FAFSA. Private scholarships often require a personalized submission. Sports organizations also award many scholarships, and there are other financial resources for healthcare students to help as you pursue your medical education.

Examples:

Daughters of the American Revolution Scholarships

• Amount: $2,000-$5,000
• Daughters of the American Revolution offers multiple scholarships for nursing students. Qualifications vary depending on the scholarship; there are multiple awards available based on need, merit, and DAR membership.

American Red Cross

• Amount: $3,000
• The Jane Delano Nursing Student Scholarship offered by the American Red Cross honors the memory of the principal organizer of the Red Cross Nursing Service. Multiple scholarships are awarded each year.

Expert Insight

If you don’t have the highest GPA or your community service hours are minimal, don’t be discouraged when applying for scholarships! Every organization is different in how they select an award recipient. Some may place heavy emphasis on your essay, recommendation letters, and financial need rather than your GPA.

Charmaine Robinson, RN, MSN