Before you embark on a rewarding career as a licensed practical nurse, you will need to complete your education and training. LPN training generally lasts about a year and can be completed in a variety of settings, such as: community colleges, private vocational schools, and even online.
While tuition varies depending on the school, financial aid is readily available, if you investigate your options.
FAFSA Overview and Process
The Federal government offers a financial aid program known as the Free Application For Federal Student Aid (FAFSA). This program is administered by the United States Department of Education.
The application process is fairly straightforward. The FAFSA application should be completed after January 1st for the upcoming academic year. Since most financial aid is available on a first-come basis, the application should be completed as early as possible for consideration during the upcoming academic year.
The application consists of a questionnaire that can be filled out online. The questions on the form are aimed at determining the student’s financial eligibility for aid. The application will inquire about your assets, income and potential dependency. If you are dependent on your parents, the questionnaire will be catered toward your family’s assets and income.
After you send in the initial application, you will receive a student aid report (SAR). This is a summary of the information that you provided on your initial application. Review the accuracy of the SAR and make any corrections if necessary. To apply for FAFSA, download the forms from www.fafsa.edu.gov.
After you have submitted all the required information, the government will calculate the “estimated family contribution” (EFC). This calculation is based on your household income, assets, family size and a variety of other factors. Copies of the EFC will be sent to your prospective nursing school. This information will detail how much potential money you may be awarded.
Types of FAFSA:
These subsidized loans typically offer low-interest. This interest is paid by the government while you are enrolled in school. The unsubsidized version of these loans requires the interest to be paid at the end of your training.
These loans are lent directly from eligible schools. The interest on these loans is similar to Stafford Loans. Your school’s financial aid counselor will be able to inform you if your school qualifies for this type of loan.
Students that qualify for Pell Grants can receive up to $5,550 in tuition assistance from the Federal government.
Any nursing student, who wishes to qualify for FAFSA, must meet the following requirements:
- Be enrolled in an approved course of study
- Fill out the Free Application For Federal Student Aid
- Have a high school diploma or G.E.D. certificate
- Be a US citizen, eligible noncitizen, or a US National
- Register with the Selective Service
- Not be in default on any student loan
- Not been convicted of the sale of illegal drugs, while receiving Federal aid.