A savings plan helps cut the cost of nursing school.
Education is an expensive yet valuable venture. Tuition for a bachelor's degree in nursing can range between $20,000 to $80,000. Having a financial plan in order to afford school will make sure the debt does not follow you for long when you start your nursing career. The annual income for a nurse can start at approximately $50,000.
Instructions
1. Determine the overall costs. Once you have chosen a school, speak with administration, past students and read all official school documents and find all of the costs. Figure out what the entire program will cost, and then break it down to each year, semester and month. Add the monthly cost to what you normally spend in a month. By determining the total costs, it is then easier for you to set goals and save money.
2. Curb spending habits. In order to save, cut unnecessary costs for extra things such as eating out often and buying a coffee each day. Use this money for your nursing education.
3. Open two bank accounts. When you receive a paycheck put 10 per cent of the income into one account, meant for spending, and the rest in one earmarked for school.
4. Apply for nursing grants and scholarships. Fill out a Free Application for Federal Student Aid (FAFSA). Check for nursing grants through the American Association of Colleges of Nursing. Spend a portion of each week researching grants and scholarships.
5. Apply for a part-time job while attending school. This helps with expenses, and any extra funds can be put aside for school.
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