When applying to nursing school, in addition to finding programs you are passionate about, you should also be considering how to finance your education. An important part of this is finding out your Cost of Attendance.
What is Cost of Attendance?
Cost of Attendance (COA) is the total cost for one year of college and is dependent on a wide variety of variables including:
- Tuition and fees
- Books and supplies
- Room and board
- Transportation
- Other/miscellaneous expenses
Depending on your situation, other expenses you may need to factor in include:
- Dependent/elder care
- License/certification fees
- Test fees (such as for the NCLEX)
- Equipment (such as if you need to buy a computer)
- Attire (such as if you need to buy scrubs for clinicals)
How Can I Lower My Cost of Attendance?
As a student the most important thing you can do to affect your COA is create a budget and live within that budget. You will have limited control over school tuition, but you will likely have a greater amount of control over factors such as room and board. Take the time to thoroughly research resources that may help lower your cost of attendance. Don't hesitate to contact your school's financial aid office and ask about opportunities for reducing costs. They may have payment schedules, scholarships, or other programs to assist you. Things you can do to affect your COA:
- Think about whether you want to attend a public versus private school. Tuition can vary widely depending on residency.
- Decide where you want to live. Figure out how much it costs to live on campus versus off campus. Do you have family or friends you can live with?
- Consider service-based commitments such as the National Health Service Corps (NHSC) or other loan forgiveness programs.
- Consider paying interest on student loans while you are in school.
- Consider renting textbooks or buying them used.
- Are you eligible for a tuition discount due to family connections, financial hardship, or disabilities?
- Is it possible for you to test out of any courses?
- Apply for grants and scholarships.
In conclusion, cost of attendance is extremely variable and dependent on a host of factors. Your cost of attendance may not be the same year over year. Financing your education is a big task, but you do have some control over your educational expenses. Make sure to do your research and explore all the options available to you.