Tips for Funding an Advanced Nursing Degree

If your dream is to advance your career as a nurse then you may want to do an advanced degree. An advanced degree will take your career to another level. If you have been struggling to find the funding that you need for your studies then you will need to know where to look. There are many avenues of funding available that will help you advance your career. Here are some of the best ways to get funding for your degree.

Scholarships and AidIf you are a good student then you may be able to secure a scholarship. Many universities will offer need-based scholarships. If you use a master’s in public health degree guide you may be able to see which colleges offer the best scholarships. These awards are highly competitive and are often limited in number. You will need to apply early. Bear in mind too that financial aid is dependent on the type of university.  You may find that a University that is publicly funded will not offer scholarships based on need. However, a private institution may be more willing to offer you funding.


Get a Career LoanA career loan is a great way to fund an advanced degree to enhance your health career. When you take out a career loan be sure to ask about the interest rates and ensure that they are favorable. The last thing you want is to get a loan that will be difficult to pay off many years after you have gotten your degree.

A better option may be to take out a student loan since these interest rates are more favorable to students. However, if you already have a student loan that you haven’t finished paying for you could run into difficulty.


Take Paid WorkMany universities will allow graduate students to work while they are studying. If you are lucky you will get a job on campus or take a job in the community.  Supplementing your income by working is a great way to pay off your debts. However, it can get very hectic. This means that you will need to be very organized or you could find yourself drowning in a lot of work. Depending on your country you may need to ensure that your visa allows you to take on work outside of the campus.

Become a Fulbright ScholarYou can apply for a Fulbright scholarship to continue your studies. It is especially useful for international students. If you do not have access to the funds you need to complete your studies then this is one of the best options available to you. However, you should be forewarned that it can get very competitive but there are thousands of graduate students who benefit from it every year. Fulbright scholarships are available to people who study in every field except for medicine.

There are many different postgraduates awards given and each of them has a different monetary value. They also have different qualifying criteria. It is always best to do your research and then identify the best option for you. Once you do, ensure that you apply early.

Use Your Assets to Finance Your DegreeWhile this is not the most desirous option it is something to consider if you feel that you will be able to sufficiently recover the funds by getting a promotion after you get the degree. Of course, this is something you should carefully consider. Make sure that you get all of the tuition from mortgaging or refinancing your home or car or you may find yourself foraging for money to complete the degree. Alternatively, I ended up downsizing quite a bit and leasing out a room in my house when I went to complete my MBA program. It helped offset the costs I incurred without having to mortgage anything.


Your SavingsIf you have savings then it may be a good time to dive into them to pay your tuition. If you are going to have to be uncomfortable for a while then it is up to you to decide if it is worth it. The good side of using your savings is that when you have finished your degree you will not be in debt to anyone. However, this is a calculated risk especially if you have children and your savings are for a rainy day. 

CrowdfundingCrowdfunding is one of those things that has become very popular in the last few years. It is a great way to have people support you financially. There are several crowdfunding platforms available and the one you choose will be largely dependent on personal taste and what you want to accomplish.
In general, though you can start by creating a profile describing who you are and what you want to accomplish. The more details you give to people the more likely you are to secure their help. This usually means you have to get personal. Nobody wants to support a vague idea from someone they don’t know. You will have to explain your passion for nursing and why you want to advance in your career. The key thing though is to be generous and honest. Once you are and you strike an emotional chord with people you will be surprised at how many people are willing to donate.
Funding your advanced health degree can be difficult. However, there are a lot of options available. It is best to try all the options that are available to you, the more funding you have the easier it will be to achieve your goals. Take the time to look at your career options once the degree is completed you want to make sure that it will be worth it in the long run.