There’s no doubt about it: Paying for higher education is one of the top concerns of aspiring students. Those who want to earn a credential in medical billing and coding might have no trouble finding a great program, but often run into a stumbling block when it comes to paying for that education. Fortunately, a number of accredited medical billing and coding schools online with financial aid help students bridge any funding gaps they may encounter. On this page, we’ll walk you through the process by looking programs that offer key financial aid support, from help with federal aid and FAFSA to direct scholarships and payment plans. Take your first step toward a medical billing or coding career.
Top Accredited Medical Billing and Coding Schools Online with Financial Aid (2022)
To help ease the financial burden for medical billing and coding students, we took a look at some of the most popular schools and dug into their financial aid offerings. We looked only at schools that are accredited – because that’s a vitally important point – and then looked at other factors, all related to financial aid and funding options. Our spotlights give students a real-world overview of the financial scene for each school and what they can expect if they enroll there.
Alternative Financing for Your Billing and Coding Education
When most students think about financing for college, they think of federal financial aid. Financial aid from the federal government can include grants and loans that help students shoulder the monetary burden. While federal financial aid is a good way to secure funding – and by all means, students should always look into this option – there are other opportunities to ease the wallet, such as state financial aid, payment plans and private scholarships.
Grants & Scholarships for Medical Billing and Coding Students
Many students find that they need some help with the tuition and fees of a certificate or diploma program, no matter how accelerated it might be. Scholarships are a great way to bridge the financial gap. In fact, since scholarships and grants don’t have to be paid back, they make the perfect way to save money on a program. Here are several scholarships available to medical billing and coding students:
1. American Health Information Management Association Merit Scholarships. Available for those seeking an associate, bachelor’s, master’s or doctorate in areas related to health information management and health informatics in a CAHIIM-accredited program. Scholarships provide between $3,000 and $9,000 depending on degree level (up to $3,000 for associated degree students) to current AHIMA members who have completed at least 30 credit hours toward their degree with a minimum 3.5 GPA and have at least 12 credit hours remaining on their program. Deadline: August 31.
2. Association of Schools of Allied Health Professions Scholarship of Excellence. This $1,000 private scholarship is available to applicants who are pursuing a degree on any level at an ASAHP institutional member school and have completed at least one term (quarter, semester, trimester, etc.) of their program. Students must be nominated by their school. Deadline for nominations: June 3. Check with the school to determine the deadline for expressing interest.
3. AvaCare Medical Scholarship. Sponsored by AvaCare Medical, this $1,000 scholarship is awarded to a single applicant chosen by the scholarship judges based on the content, creativity, and quality of work of the applicant’s submittal describing an “inspiring act of kindness”. Applicant must be pursuing a degree in the medical field and possess a 3.0 or higher GPA. Preference is given to students with a disability. Deadline: December 15.
4. California Health Information Association (CHIA) Student Scholarships .Up to six awards of $750 each are made annually to CHIA Emerging Professional (Student) members to aid in the completion of their CAHIIM-accredited health information technology or health information administration program. Applicant must additionally have completed (or will have completed) 50% of their program curriculum by the scholarship deadline of March 1.
5. Dr. Donald and Barbara Williams Scholarship.Open to individuals who are employees at Fort Healthcare (Fort Memorial Hospital in Wisconsin) and pursuing an education in the healthcare field. Scholarship award amounts (up to $3,000) are determined by the total number of awardees selected. Financial need of the applicant is taken into account. Application submittals include a short essay, two letters of reference, and current resume outlining extracurricular activities and community involvement. Deadline: March 1.
6. Georgia Health Information Management Association Scholarship.Open to students who reside in Georgia and are enrolled in a CAHIIM-accredited associate, bachelor’s or master’s program in health information management. This is a regional scholarship with variable award amounts from year to year. Applicants must have a GPA of 3.0 or higher and be involved in at least one of a variety of HIM Association extracurricular activities. Applicants must also be GHIMA members. Deadline: June 1.
7. HIMSS Alabama Chapter Student Merit Scholarship.The Alabama Chapter of the Healthcare Information and Management Systems Society awards four scholarships annually in amounts up to $1,250 each to full-time or part-time students in an accredited associate, bachelor’s, master’s or PhD program related to the healthcare information management systems field. Applicant must be a current member or join either the National HIMSS or Alabama HIMSS, as well as demonstrate participation or commit to participating in Alabama HIMSS workgroups, conferences, and committees. Deadline: May 20.
8. Medical Billing Service Review Health and Technology International Scholarship.To be eligible for this $1,000 award, the applicant must be enrolled in an accredited U.S. college or university for the semester for which they are applying. There is no minimum GPA requirement and students in all majors are welcome to apply. However, the applicant must express an interest in the health and technology field. Selections are made based on the applicant’s 250-word essay answering three health and technology related questions. Deadline: June 30.
9. Medical Scrubs Collection Scholarship.The Medical Scrubs Collection Scholarship is open to high school seniors or students enrolled at an accredited U.S. college or university with a cumulative GPA of 3.0 or higher and pursuing a degree in any health or medical related field. One award of $1,000 is made to one of five to ten finalists voted online to have best answered the question, “What inspired you to pursue a career helping others?” Preference is given to applicants with a medical disability. Deadline: December 15.
10. New York Health Information Management Association (NYHIMA) Returning Student Scholarship.This $1,000 scholarship is earmarked for those who are returning to higher education to advance or transition to a new career in health information management. Available to full-time and part-time students enrolled in a CAHIIM-accredited associate or bachelor’s degree program in New York State. Deadline: Varies.
11. New York Health Information Management Association (NYHIMA) Student Book Fund Scholarship.Two $300 scholarships awarded annually to help cover the cost of books. To be eligible, the applicant must be enrolled in a CAHIIM-accredited associate or bachelor’s degree program located in New York State. Deadline: Varies.
12. Prosper Shaked Scholarship for Future Medical Professionals.One $1,500 award is made annually to a current or recently-accepted full-time student pursuing a medical or healthcare related degree (including those in the health information management field) at an accredited two-year or four-year college. Applicant must maintain a minimum 3.0 GPA through the application period. Deadline: August 15.
13. Robert D. Kruse Memorial Scholarship Fund for Allied Health Professionals.Up to $5,000 is awarded annually to a student with a minimum 2.5 GPA who is in the last year of a health professions program at one of over three dozen eligible academic institutions located in Ohio. Nursing and medical students are not eligible and preference may be given to students whose academic program is based on the workforce needs of the Cleveland Clinic. The award is paid directly to the school for the costs of tuition and fees. Deadline: March 31.
14. Sarah Bush Lincoln Health System Volunteer Guild Scholarship.Permanent residents of any of the ten Illinois counties in the Sarah Bush Lincoln Health System service area enrolled in an accredited degree or certification healthcare program (including allied health) are eligible for this variable-award scholarship. The academic program, however, need not be located in Illinois. Applicants with a GPA of 3.5 or higher are desired. Deadline: March 18.
15. University of Alaska Anchorage Administrative Scholarship.This school-sponsored scholarship is open to all University of Alaska Anchorage students in a UAA School of Allied Health degree or certificate program, including its hybrid Medical Office Coding Occupational Endorsement Certificate program. Amounts vary (up to full tuition cost for the term). Undergraduate applicants must possess a minimum 2.8 GPA (or 2.5 for administrative waiver undergraduates) and be enrolled in at least three program credits. Awards are made three times annually in the fall, spring, and summer. Deadline: Varies.
Application Tips for Medical Billing and Coding Scholarships
Make no mistake: Scholarships are very competitive. There are many people vying for the same award, and only a handful will receive it in any given cycle. That’s why it’s so important to pay attention to even the smallest of details. These best practices for applying for scholarships can help ensure you have a fighting chance to stand out from the crowd.
Financial Aid & Funding: Q&A for MB&C Students
Financial aid matters always come with questions. From understanding what makes a program eligible for aid, to figuring out how to get it, to navigating the sometimes complex world of payment plans, there are more than a few questions that need answering before you choose to enter a particular program. Below are the most popular questions students have submitted about accredited medical billing and coding schools online with financial aid.
Additional Financial Aid Resources for Medical Billing and Coding Students
Although we’ve tried to answer the biggest financial questions you might have on your journey to medical billing and coding school, there are many other sites out there with great content and pertinent information. You should explore every one to ensure you have the best, most up-to-date information available. Check out these 10 resources on financial aid for students looking to complete their medical billing and coding training online.
- Accreditation: Universities and Higher Education. This page from the Department of Education serves as a great start for those who want to understand accreditation and how it applies to federal financial aid.
- CollegeScholarships.org. This site offers scholarships in many areas, such as Health Informatics or Health Information Technology.
- Commission on Accreditation of Allied Health Education Programs. Students curious about finding a CAAHEP program can start their search here.
- Edvisors. This helpful site discusses various forms of financial aid, including tuition payment plans.
- Federal Student Aid. This government page provides a wealth of information on various financial aid options for students in all programs.
- National Association of Student Financial Aid Administrators. This site offers in-depth information for parents and students, including state financial aid options, tax breaks and more.
- Sallie Mae. This government organization help students understand, obtain and manage student loans.
- Scholarships.com. This clearinghouse of scholarships available online allows students to search by majors, including things like Medical Technology.
- Student Loan Hero. This comprehensive look at student loans can help students understand the wide range of options.