How to pay for grad school?

When you apply to grad school, there is a fair possibility that you are still paying off your undergraduate student loans. In such a scenario, how are you supposed to pay for grad school?

Federal aid is available for grad schools as well

For starters, you can still apply for federal student aid as the William.D.Ford Loan, Perkins Loans and the Pell Grant are offered to graduates as well. Additionally, you can also apply for the TEACH or the Teacher Education Assistance for College and Higher Education grant which is awarded to students who are planning a career in the teaching field. While filling the FAFSAfor graduate financial aid, you will be considered an independent applicant which means that your financial assets and monthly income will be taken into account.

Look for fellowships, assistantships and research positions

Graduate schools provides you with many funding opportunities besides grants and scholarships. All graduate colleges have assistantship programs under which you will be offered free or reduced tuition in exchange for research, teaching or administrative work. For instance, you might be required to teach a few undergraduate classes or do some research work for your professors. At times, your college might even pay a stipend and provide health insurance to graduates working as assistants.

Fellowships are more like regular scholarships or grants. They are provided either by your college or a third party organization and they might cover a part or whole of your expenses. Fellowships are course specific and you should contact your particular department to acquire information about their eligibility, application requirements etc.

Is grad school really worth the effort?

The answer to that question depends largely on the field you are interested in. For certain disciplines like law and medicine, going to graduate school is absolutely necessary for professional success. Similarly, if you want to get into research or academia in any field, you will need an advanced degree. However, one can’t say the same about other fields of study. A graduate degree sounds lucrative but will it really make a difference to your career? Do a quick survey and find out if there are many people in your field with graduate degrees. What is the difference between your and their salaries? Will your career reach a dead-end without an advanced degree? Ask yourself these difficult questions before you take the plunge. Additionally, look up placement statistics for your grad program from recent years? Are there enough jobs in your field for people with advanced degrees? Basically, do a thorough analysis of the current situation in your professional field; find out if there is a demand for advanced degrees at all. Remember, not only is grad school expensive, it is extremely challenging and it demands serious commitment, both on a personal and professional level.

Is working part-time while in grad school a good idea?

Once again, the answer depends on your financial situation and your willingness to make things work. Even with the academic burden of graduate school, it is possible to work part-time. If you were already working as a full-time employee before going to graduate school, you can speak to your boss about getting a part-time job. This way, you could support yourself financially even if you fail to find a fellowship or an assistantship. In fact, in some cases, your employer might be willing to sponsor a part of your tuition fee. Having said that, juggling between a part-time job and a graduate degree is not everyone’s cup of tea. Some people find it next to impossible to devote sufficient time to their academics or research while working part-time. Like we said earlier, the decision is finally yours. A part-time job will ease your financial burden but it will also take away a lot from your academic experience and you might take longer to complete your degree.

Clearly, you have to consider several factors even after you have made the big decision to go to grad school. On the bright side, when you finally earn a graduate degree, you will be looking at a life of success and prosperity.

Make a decision about your repayment plans

More often than not, you will have two options to choose from. In the first scenario, you can pay off your loan aggressively i.e. you can make higher and more frequent payments. By doing so, you will reduce your long term debt and you will end up paying less in the form of interest. On the flip side, if you start devoting a major part of your salary to student loan repayment, you won’t be able to make any substantial savings for your immediate future. Or worse, you might not have any cash to fall back on in case of a financial emergency.

On the other hand, you could choose a repayment plan with low monthly payments. This way, you could save money for future investments like buying a car or a house. However, the interest would accumulate on your student loan and you will pay more money overall and over a longer period of time. There is the argument to be made that a graduate starts working at a basic salary, which will hopefully increase as his or her career progresses. Therefore, even if the loan payments are higher during later stages, you can easily afford them. Ultimately, the choice depends on your personal preferences. Some people like to get rid of the loans as soon as possible even if the monthly payments cut into their salaries while others don’t mind paying more, but when they can actually afford it.

Choose your federal aid repayment plan

If you received federal aid in the form of Stafford Loans, Perkins Loans or PLUS Loans, you can choose from a variety of repayment plans. Under the standard repayment plan, you will be paying a minimum sum of $50 every month for 10 years. Alternatively, if you are looking for a plan with lower payments in the initial stages, you can consider the graduated repayment plan. The monthly payments start as low as $25, last for 12 to 30 years and will increase progressively. Additionally, you can choose the extended payment plan for larger debts or the income-based plan, under which federal authorities will deduct a reasonable percentage of your salary every month for 25 years.

Manage your money wisely

At times, graduates can get a little reckless with their money in the wake of their new-found financial independence. If this ever happens, you must remind yourself of the debt hanging over your shoulders. If you can restrict your expenses for a few years, you can get rid of the burden once and for all. Not only will it come as a huge relief, it will also allow you to make other life changing financial investments.

What if you can’t repay your student loans?

Considering the debilitating state of the economy, there is a fair chance that you might not find a job that pays well. Alternatively, you might be unemployed or go back to college or graduate school for further studies. In such situations, you can apply for a possible deferment of loans i.e. you can postpone the repayment of loans for a particular period of time. Ultimately, you will have to repay your loans. Remember that defaulting on your student loan can have severe repercussions – the US Department of Education can garnish your wages, offset your tax returns, take away federal benefits or even sue you legally. If you ever default on your federal student loan, contact your loan servicer right away. You can also contact the collection agency which has been given charge of your particular loan.

Quite obviously, defaulting on your student loan is a serious matter which can turn into a pretty nasty situation. To prevent this from happening, make the right financial choices and start planning well in advance. Good luck!

Are there different types of students loans?

Federal vs Private Loans

For the purposes of streamlining, student loans can be categorized as federal loans and private loans. Federal loans are provided by the US Department of Education while private loans are provided by banks or other financial institutions. Typically, federal loans come with a bunch of financial incentives even as the amount of loan tends to be lower than private loans. For starters, the interest rate on federal loans is lower, you don’t have to repay while you are still in college, you don’t need a credit check or a cosigner to acquire a federal loan, and the interest might be tax deductible. In most cases, you can’t enjoy these privileges if you take a private loan. On the bright side, you can acquire a larger amount of money that might cover your expenses more completely with a private loan.

Subsidized vs Unsubsidized Loans

Even within the category of federal loans, there are further distinctions. For instance, the William D. Ford loans are provided directly by the US Department of Education while Perkins Loans are provided by the college. Additionally, loans can also be categorized as subsidized or unsubsidized loans. Direct Subsidized Loans are available exclusively for undergraduate students with financial need. Under these loans, the interest rate is paid by the federal government while you are still in college and for a grace period after you graduate. On the other hand, Direct Unsubsidized Loans can be acquired by both undergraduate and graduate students without demonstrating financial need. However, there are no interest concessions on unsubsidized loans and you will have to pay the interest throughout the loan period.

Besides these categories, there are other forms of federal loans like PLUS loans and Direct Consolidation Loans. The former kind are meant for graduate or professional degree students who need additional financial aid to cover their education expenses. These loans are also available for parents of undergraduate students. Under Consolidation Loans, you can consolidate your multiple student loans into a single loan. This can be a risky move and you must consider all factors before making a final decision; however, in some cases, consolidating your various student loans can reduce the overall interest rate for your loans so you end up paying less over time.

Make an informed decision while taking out student loans

While acquiring student loans, you must understand that they are meant to be a form of self-help aid as opposed to gift aid, i.e. you will have to pay them back once you graduate. Based on the Estimated Family Contribution (EFC) and the cost of attending a college, you can calculate the deficit, which will most likely be the amount of money you will need to borrow in student loans. Make a mental note of the rate of interest charged and the monthly payments you will need to make once you graduate.

Now, do some research about the average salary of someone just entering your particular field. Make sure that the monthly payments form a small percentage of your salary as you will have to support yourself during this time. If the payments take up a large portion of your salary, you will find it difficult to make the payments. Do the math before you make any hasty decisions.

If you think that the interest is too high for you, borrow a smaller amount and look for third-party organizations which provide grants and scholarships. Even if you can finance a part of your education through these, you can decrease the loan amount and subsequently, the monthly payments.

Quite often, you might have multiple loans of different types at once. For instance, you might have a combination of federal, private, subsidized and unsubsidized loans to make up for your financial deficit. Each of these loans have different terms and conditions and you should acquaint yourself with their unique requirements.

Finally, retain copies of all important loan documents and update your FAFSA every year, especially in the light of any financial changes in your family. When it comes to student loans, you must try your best to stay ahead of the game. Gather adequate information, be on the lookout for any updates, make mental notes of important figures, and things will eventually fall into place.

What are the different kinds of financial aid available to you?

Broadly speaking, financial aid is provided either by the federal/state government or by the college itself or by a third-party organization. This is the most fundamental way to differentiate between different forms of financial aids. They can be further categorized as being merit-based i.e. awarded to students with exemplary academic or extracurricular activities or need-based i.e. awarded to students who come from low-income families. While Federal Financial Aid is primarily need-based, scholarships provided by colleges are largely merit-based.

Understand the terminology

Another important differentiation is between grants, scholarships, loans, and work-study programs. A grant is arguably the best form of financial aid as it comes with no strings attached and you are not expected to repay it. Under the Federal Financial Aid program, the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG) are awarded to students on a need-basis. A scholarship is also similar except that it may have a few riders attached to it, for instance, you may need to maintain a particular GPA in order to retain a scholarship.

For students who aren’t lucky enough to get a grant or a scholarship, federal funded loans like the Stafford Loan and the Perkins Loans are viable options. These loans are provided at low interest rates and the government might pay a certain amount of the interest in some cases. Finally, Federal Work Study awards provide subsidized employment opportunities for students under a pay-as-you-study plan. This program is managed by the federal government in association with the financial aid division of a college and the employment opportunities could be on or off-campus.

How can you get financial aid?

The very first thing you need to do is fill out the FAFSA or the Free Application for Financial Student Aid, which is the most important document for students looking for financial aid. The FAFSA is a long and exhaustive form with close to 100 questions about your particulars, academic background, financial assets, colleges you have applied to, your parent’s tax returns, their financial assets, etc. To tackle the part of the form dealing with financial information, you will have to choose your status as dependent or independent. To be classified as an independent student, you must be 24 years of age and you must have a graduate degree. Additionally, you must have dependents who receive a part of the financial aid.

As is evident, you should have all documents related to tax returns and financial assets available while filling out the FAFSA. We’d also recommend you complete this with the help of your parents if possible. The form becomes available by mid-November every year, but it can’t be filled out until January of the next year, which is also the year when you hope to start college.

Understand the financial logistics

Once you fill out the FAFSA, how do things work? Based on the information collected through the FASFA, like your parents’ annual income, their savings and assets, the Estimated Family Contribution or the EFC is calculated. This is the sum of money that your parents can afford to spend on your education every year. Next, the cost of attending a particular college is estimated by adding boarding and miscellaneous expenses to tuition fee. The difference between the total cost and the EFC is the financial need or the deficit that needs to be fulfilled through financial aid. At times, you might need multiple scholarships or work-study awards to make up for this deficit. Either way, you must understand the financial logistics in order to deal with any possible problems.

The key to finding great financial aid is gaining practical knowledge about the functioning of the entire system. Even if you hit a wall with federal aid, look for other forms of scholarships provided by third-party organizations. If nothing else works out, you can always take a private loan to realize your dream of going to college. Good luck!

Make a definite financial plan and start early

Statistics have shown that tuition fees at public universities increased at an average of 4.8% in 2012 (1) which is twice the rate of inflation. At this rate, the overall annual cost of college education at a public university will be somewhere close $22,200 in 2013. The bad news is that the rate of increase shows no signs of stagnation. There is only one way out; start saving as early as you can. Even if you can save a small amount every month, it can yield excellent returns over a long period. The more you save, the less you will have to borrow.

To get an estimate of the amount of money you should save, refer to one of the many college fee calculators available online. Similarly, there are calculators which provide rough estimates about your Estimated Family Contribution (EFC) according to your annual income and savings. Keep these numbers at the back of your mind and make plans accordingly.

Apply for federal aid by filling out the FAFSA

Irrespective of your financial condition, you must apply for federal aid by filling out the FAFSA. This detailed form will ask you about your annual income, tax returns, financial assets, and savings. Based on this information, federal authorities will calculate your EFC or the amount of money you can devote to your child’s education every year. The rest of the money (i.e. the cost of a college education minus the EFC) will count as your demonstrated need. If you have a relatively high income, the authorities will assume that you had opportunities to save in the past and your EFC will be higher.

The EFC also depends on several other factors. If you are divorced, the income of the custodial parent is taken into account and federal aid is usually higher in case of a single parent. Alternatively, if you re-married, the income and financial assets of your second spouse will be considered while calculating the EFC. Additionally, if you have more than one child in college simultaneously or younger ones at home, you are likely to get more federal aid.

Be on the lookout for scholarships provided by colleges

Due to the exorbitant costs of college education, even high income families might need external aid. However, their chances of finding sizable federal aid through FAFSA are pretty bleak. In such cases, contact the financial aid division of your child’s college and collect information about merit-based scholarships which are awarded on the basis of academic and extracurricular achievements. At the same time, there are several third-party organizations like the Gates Foundations or Rotary Clubs which provide scholarships and grants to exceptional students. Don’t shy away from these opportunities. Support your child in applying for them.

Remember the deadlines

Many scholarships, grants and student loans are provided on first come, first serve basis. Therefore, you must apply for these as soon as possible. For instance, federal authorities start accepting the FAFSA from the first day of January. Get all your documents together and complete the FAFSA right away. Similarly, contact the colleges that your child is applying to and inquire about their specific forms to be filled out and their respective deadlines. Remember, you are one among many parents who want financial aid for their children. Simply put, it’a a race and you have to stay ahead of the competition.

Be prepared for the future

An average college degree is four years long and your financial condition may change during this time. You could lose your job or buy a house or another one of your children could go to college. All of these factors will have a significant impact on your financial situation. Hence, the FAFSA is updated each year to reflect changes in your family’s financial situation. Start making small savings accounts so that you can see your family through any unforeseen circumstances. Finally, support your child in every possible way during this phase. He or she might not show it, but chances are that he or she is just as intimidated as you are.

Prospective graduate students are all looking for a way to outshine the competition. Building relationships with faculty members, especially those you might wish to work with while you’re in the program, can also go a long way toward making your application stand out. Here’s how to make it happen.

Establish Communication

A productive and positive relationship with a graduate department or particular professor can begin early on in the admissions process or even while you are still shopping for schools. As you consider programs, reach out to the departments directly via email – a general contact address is usually available on the departmental website. Express polite interest in the program and introduce yourself and your academic interests. Ask a few introductory questions that get the ball rolling – are there alumni you can speak with? Would you be able to sit in on a class sometime? Take a tour? Anything that can get your foot in the door and get you in conversations with people who currently or recently attended the program is a good start. These people can introduce you to current faculty.

You should also reach out to people from your undergraduate program. It’s possible that one of your professors or recommendation letter writers knows or has worked with a faculty member in your preferred program. This can be a great way to get an introduction!

Be an Expert

Once you do make contact with a faculty member, have something compelling to say. Make sure you’ve read their publications and are up on recent developments in the field. Prepare a few talking points that highlight what you can contribute to their ongoing research projects. Be able to speak knowledgeably about the connections between their work and your interests and talents. Make sure you are confident (but not cocky!) when you highlight the unique set of skills and knowledge that you can bring to the table.

But Admit You Have More to Learn

If you are interested in a graduate program, it’s because you know there are some skills and information that you have not yet mastered. Be specific about what you hope to gain from the program. Have a general idea about what you would like to do after the graduate program, and be prepared to discuss with the faculty member how your time in the program would contribute to that end goal. If they are going to work with you, they want to know where you think it will lead. Be both realistic and ambitious in these conversations. If you have any weaknesses in your application, reveal them, and ask for advice on how best to address them in your application.

Continue the Conversation

The point of this is to build an ongoing relationship. When you speak to a faculty member, take notes on your conversations (or jot a few afterwards), so that you can pick up the threads the next time you have contact. When possible, attend conferences or track the news in the your academic field and when something particularly relevant pops up, get in touch with a quick email comment or ask a question that relates to the professor’s research. But make sure you don’t overwhelm them; always be polite and mindful of the time they are giving to you.

Build a Lasting Network

To make these connections last, make sure you are always your genuine self, but your most hardworking, professional self. Let your talents shine, and actively engage in these conversations with faculty. Then, when application time rolls around, you will have hit the ground running with the departmental admissions committee; faculty members will recognize your name and know you have something positive to contribute to the department. But a university wide admissions committee might not know about you yet, so be sure to include on your application that you are particularly interested in working with Professor X, and mention that you have already been in contact with that faculty member. Make sure your contact knows your application has gone in, and then let your great network building work for you.

Close the Conversation Gracefully

When all this networking comes to fruition, you should hear good news from more than one school. After you decide which program to attend, remember to get in touch with the people you met along the way. Let all the faculty members you contacted know where you ended up and thank them for their time. Keep the door open for future conversations down the road. These people are part of your academic community and professional network now, so be sure to end on a positive and professional note.

What Do You Need to Get into Med School?

Just getting accepted into medical school can be quite the slog. Completed post-secondary classes in Biology, Chemistry, English, and Physics will be needed at a minimum so you can apply for Medicine School as a 3rd year student. Since admissions are so intense, however, most applicants will have to complete a full science degree in order to get in.

Besides stellar grades in these classes, however, there’s also the Medical College Admission Test (MCAT). Covering areas like Physical and Biological Sciences as well as Verbal Reasoning skills, this test is how schools will decide whether or not you’re medical student material. As I’m sure you will, make sure to study and prepare for this exam. Taking practice tests can also help you perform better on the actual test.

It’ll also reflect better on your application if you have spent some time volunteering in hospitals or clinics. Sign up now to get that experience on your application!

Selecting a Med School

Simply because medical school is incredibly competitive, you may not necessarily have the luxury of being able to choose your school. Even if you’re the ideal student, you just never know what’s going on with the committee. So as a general rule of thumb, it’s a good idea to apply to every medical school you can get an application form for. That being said, in evaluating schools you want to look for a supportive network as well as a thriving campus. You’ll appreciate those friends you’ve made when you’re faced with all-nighters and stressful labs.

Once You’re There

So with the help of your excellent interviewing skills you’ve impressed the committee and made it into medical school. What happens next?

Medical school itself typically takes 4 years. It’s divided evenly with a combination of book work as well as clinical work. However, it doesn’t end there. In order to be licensed to practice, you’ll have to go through what’s known as a medical residency. During your residency you get to put everything you’ve learned at medical school into practice. To become a general practitioner you have to spend at least 1 year in residency. If you’re planning to become a surgeon or to specialize in another area, the residency stage will take longer.

What about the Money?

Medical school debts are an issue that students need to have settled in their minds before applying. Since this is largely full-time study, a solid financing plan is much more important for med students. The average cost can go into the tens of thousands per year in tuition alone. You’ll want to consult with your academic advisor or financial aid office of the school to see what kind of scholarships, grants, and student loans are available.

Job Expectations Coming Out of Med School

Although pay is largely determined based on a combination of experience and area of specialization, medicine is a degree that’s well-recognized for its job security and its high pay grade. Simply because of how in-demand doctors always are, it’s easy to find work no matter where you go. It’s all up to you. The best part? This is a profession that has been around for thousands of years without showing any signs of slowing down.

A medical career offers prospective students a great opportunity to dedicate their careers towards helping other people. It’s also a practical degree that virtually guarantees that you’ll always have a job. Med school may require a commitment, but the hard work definitely pays off.

Easily transferable, practical and generally respected, a business school degree puts you in the driver’s seat. If you’re considering a career in business, it all starts with putting in an application for business school. How do you get in? What can you expect after graduating? Here’s a bit of discussion on the logistics of going to business school.

What Do You Need to Get Into Business School?

If you’re pursuing the traditional MBA, you’ll have to start with a four-year University degree from an accredited college or university. Another common prerequisite for admission is the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE). These tests are primarily about seeing whether you have a knack for the material that’s going to be covered in class as well as the general analytical, reasoning and writing skills to perform at the school’s level. You may have to sit for the exams again if you took one of these tests a while ago as the scores do expire. Preparing and studying for these exams as well as taking practice tests is really important for getting in!

Choosing a Program

So you’ve taken the exams and now need to apply to specific business schools. How do you choose the right degree program to apply to?

Truthfully, it all depends on what your personal strengths are as well as what you’re looking for in a degree program. That being said, Marketing, Finance, Accounting, and Business Management are some of the main business degrees that students can work towards. Some schools even offer entrepreneurship programs and courses or other specialty sectors that might be very interesting to you.

While you consider the merits of these programs, you also have to ask yourself what level of academic rigor you’re looking for. Are you drawn to Ivy Leagues, schools that are reputed to be academically challenging, or is a mid-level program fine with you? Would a public university work better for you than a private one? Is your preferred program even being offered at this university? Don’t just look at your first degree choice. See if your second and third options are available there as well.

Selecting a School

Ultimately, you want to choose a school that’s well-suited to you as an individual. This means being informed about broader issues like the admissions process while also learning more about the types of professional placements that are possible through the school. If you can find social groups and student clubs that cater to your interests, you’re in even better shape. For those who really want to get a more accurate perspective on campus-life and future job prospects, you may want to consider speaking to alumni directly.

What about the Money?

As you likely already know, tuition fees can range as low as just a few thousand to well over $30,000 per year. Costs tend to go up when you’re pursuing a graduate-level degree, especially at a private institution. When living expenses are also considered, you may want to consider the perks of choosing an institution that’s close to home. There are also scholarships and grants that can save you a bundle if you apply ahead of time. Also, there are many options for student loans. Make sure to fill out the FAFSA on time to see your options.

Job Expectations

One of the biggest advantages of a business school degree is its flexibility. Individuals who don’t want to find themselves tied down to a particular job will love what these degrees have to offer. Investment banking, management, accounting, consulting, and financial planning are just a few of the areas where a business school graduate can find work. There’s also the option of working with marketing firms or becoming your own boss as an entrepreneur.

All in all, business school is an excellent option for individuals who want a practical degree. The median starting salary for Business Management majors or concentrations is already good and the higher ceilings of these degrees show that there’s a lot of earning potential here for those who are entering the workplace after graduating. In a world where job security’s becoming a growing concern for many people, there’s no underestimating the value of a multidisciplinary degree program.

Dental School Admission Requirements

Admission requirements for dental school are pretty simple. Although there is no one set of requirements that fit every school, the basic ones are the same. You’ll need your school transcripts and a GPA of at least 3.4 or 3.8 to even be considered. Once you’ve met those requirements you’ll have to take the DAT exam.

DAT

The DAT, or Dental Admissions Test, measures your comprehension of science, perception and general academic knowledge. If you meet the minimum academic pre-requisites for dental school, you’ll most likely have the tools you need to pass this exam. The American Dental Association lists these prerequisites as 8 hours of: biology with lab, physics, English, general chemistry with lab and organic chemistry with lab. Still it is very important to prepare and study for the exam. Taking a few practice tests will also make you feel more comfortable when you sit down for the official DAT.

After taking the DAT exam, collect that score, proof of the completion of any required pre-requisites, your school transcripts and appropriate fees for enrollment, and submit them along with the application. Also, don’t forget to submit any recommendation letters and academic certificates along with the application.

After submitting applications to dental school, you will hopefully be interviewed by the dental school board. This is a professional interview so no matter what your grades are or how many letters of recommendation you may have, they are looking at your appearance and the way you conduct yourself throughout the interview. Dress professionally, come prepared and answer all questions fully, and remember: No matter what the question is and how much you may not want to answer it, do not lie, under any circumstances!

Tuition Fees and Other Costs

Tuition fees for dentistry schools differ widely depending on  the location of the school, the school’s specialty, and what course you’re enrolling in. On average, dental school tuition plus fees will run somewhere between $50k and $95k. The most expensive school to date is the University of Southern California School of Dentistry (USC Dental), with a tuition of $95,467. Schools that specialize in dentistry are often more expensive than those that don’t. This is because graduates from schools that specialize in dentistry are often more sought after, so they’re paid higher (in some cases, not all).

Career Outlook

So. what will you expect after graduating (besides plans to buy that Mercedes once your fees and student loans are cleared up)? Job security! According to the Bureau of Labor Statistics, dentists with an entry-level Doctoral or other professional degree bring in a median pay of around $146,920 per year and job positions are growing at a rate of 21% over the next 7 years.

How much you make has a lot to do with where you choose to practice. Some states have more dentists than necessary so the pay isn’t as competitive, other states have fewer than needed, so the extra dentists are usually welcomed with higher pay. Also, those who work in a private practice often enjoy a more balanced lifestyle with good pay in comparison to those working as OC dental surgeons for a medical facility.  Whichever way you chose to go, the sky is the limit, so long as you meet the minimum requirements to get started.

Now that you know the drill (pun intended), what are you waiting for? Get your study on soon, positions are filling up quickly.

Nursing is an exciting field and a very flexible one at that! You could work with babies, elders, teens, adults or unicorns (okay maybe not the last one, but you most certainly can work with people who think they’re unicorns, so that counts). The pay for nurses is competitive and ranges anywhere between $30 and $60k depending on the location you chose to work in and the facility you apply to. So, if you want to get started drawing blood and taking names, read on to learn how to become a nurse!

Nursing School Admission Requirements

So, you’re ready to step into some sexy scrubs and get started using words like “stat” and “hepatic,” but first you have to get accepted into a nursing school (boo). We know, the fast track seems so nice. Just dreaming about being a nurse and then suddenly waking up with a $60k paycheck, isn’t it just the way it should be? Well, until that day occurs, there’s some very “real” requirements that you need to fulfill. For ease, we’ve broken these requirements down into two sections: paperwork and examinations.

Paperwork

Just like any other school, you have to fill out an application for enrollment, but before you do, you’ll want to make sure you meet the requirements to apply. Unfortunately there’s no “one size fits all” requirement list here, as each school is different and they all have the right to change their requirements at any time. However, for the sake of informing you here and now, the basic requirements you’ll need in order to apply are: a high school diploma or G.E.D, completion of at least 20 hours of pre-nursing courses (these include biology with lab, fundamentals of chemistry with lab, anatomy and physiology 1 and 2 with lab) as well as GPA of 3.4-3.7. For more information on specifics, view the university’s freshman or graduate admissions requirement form.

Examinations

Before you can enroll in a nursing school program, you’ll have to sit for the TEAS exam. The TEAS, or Test of Essential Academic Skills, is used to assess your ability to “fit” into nursing classes. The scores for this test will conclude whether you need additional courses before starting nursing coursework and also which program you’re best suited for. The material you’ll be tested on include: reading, math, science, and grammar/English. The good thing about the TEAS is that you can study and prepare for the test as well as take practice tests online before sitting for the official one.

Note: Not all nursing schools require the TEAS test for admissions, in fact, some schools may request a totally different exam or one similar to the TEAS with a different name.

General Tuition and Book Costs

Nursing school is becoming more affordable. Maybe because of the nursing shortage or because more schools are offering the courses now, either way it’s good news for you, right?

When it comes to tuition, each school is different. Medical schools tend to have a higher tuition than other universities, but they offer pretty much the same level of education and the same graduate degrees. The one difference that makes up for the higher tuition is the fact that you can put a medical school on your CV or resume, which looks a little better to a medical facility than a regular university (although you shouldn’t be discriminated against for the school you choose).

The tuition for nursing schools is about $1000 per credit hour on average, $2000 for books (although there are many ways to cut this cost), $2000 for insurance (if the school requires it), $100 for clinical placement, $40 per year for occupational exposure, and a transcript fee of around $30. These are the basic costs broken down for full-time study.

Tuition fees also differ depending on the type of degree you’re after. There are two main degrees for nurse practitioners (NP) beyond the less advanced registered nurse (RN) degree: MSN and DNP. MSN is a Master of Science in Nursing, which takes nearly 5 years to obtain. A DNP, or Doctor of Nursing Practice degree, takes 2 years more to complete than an MSN. A one year course of study for a student heading towards an MSN is around $80,662 for a full-time student and for a student aiming towards a DNP around $56,020 full-time and $47,012 for part-time. Obviously these are just estimates and each school will have differing tuition rates, which can be found on their websites.

So now that you know how to become a nurse, what are you waiting for? You already have the confidence you need to get started, now just gather the above materials and you’re good to go!