How Much Is Nursing School in 2024? Costs & Financial Aid

Many people who consider a career in nursing often ask the following question: how much is nursing school? In general, the nursing profession is rewarding and satisfying, but, quite obviously, you have to invest time and money to achieve this result.

In this article, I will provide you with some relevant data regarding the costs of going to nursing school – from the amount of tuition that you will have to pay to the hidden costs and fees so that you can prepare and have an idea of what to expect.

What Is the Expected Cost of Nursing School?

If you’re planning to enroll in nursing school, nursing school costs can range from a few thousand dollars to even over a hundred thousand dollars. The final price tag depends on the degree you want to enroll in and the type of college that you wish to attend.

So, let’s take a look at various categories of nursing degrees along with their costs as well.

Categories of Nursing Degrees and Their Costs

The price tag of nursing scales is mostly dependent on the degree pursued by a student. Here’s a closer look at the different types of nursing degrees and what you can expect to pay.

Associate Degree in Nursing (ADN)

An ADN program can be said to be among the quickest and cheapest ways of attaining the Registered Nurse (RN) title. It is a general two-year program, which is provided in community colleges or institutions.

• Cost range: $23,900 – $66,320
• Yearly Average Cost: $12,300

ADN programs offer the quickest and least expensive entrance into the job market. They are also a pre-requisite for an advanced degree like BSN.

Bachelor of Science in Nursing (BSN)

With the BSN program as the most readily available option to complete all the requirements to be an RN, it offers additional advancement opportunities. It takes approximately four years to attain these programs. These programs are mainly offered in universities and colleges.

• Cost Range: $89,556 – $211,392
• Yearly Cost on Average: $30,884

While BSN programs may be pricier than ADN programs they tend to have advanced education and better prospects.

Master of Science in Nursing (MSN)

In addition to Baccalaureate nurses, MSN programs are geared toward nurses wishing to become nurse practitioners, nurse administrators, or teacher specialists. Completion of these programs usually takes about one to two years.

• Cost Range: $28,060- $78,820
• Yearly Average Cost: $33,150

MSN holders tend to have more and better positions available to them than those without this qualification. However, it’s quite an expense.

Doctor of Nursing Practice (DNP)

The DNP is the top degree in nursing which is needed for higher-packed positions such as nurse anesthetists and clinical nurse specialists. These programs take two to four years to complete.

• Cost: $111,000 – $171,920
• Average Yearly Cost: $61,080

The DNP programs are the most costly type of advanced nursing education but they combine the highest concentration of expertise with leadership in the nursing field.

What Tuition Covers and What It Doesn’t

The most likely cost versus benefits thought that will cross your mind when you contemplate stepping into the nursing profession is tuition. Nevertheless, tuition is not the only thing that extends beyond your room lectures. It usually includes other essentials of one’s training such as clinical rotation and laboratory fees. However, there are countless costs merged that tuition does not cover, thus it is advisable to prepare ahead.

What Tuition Covers

• Classroom Instruction: This is the main part of your tuition. You paid for classes, professors, and other materials needed for the learning process.
• Lab fees: Most nursing schools have nursing labs and these are the expenses one can expect to incur to help practice the skills. Most admission fees cater to these costs.
• Clinical Rotations: Here, you receive supervised clinical practice within a hospital or a clinic. Note that some of the expenses for these rotations are already incorporated into your tuition fees.

What Is Not Included In The Tuition

• Academic Literature: The students especially the nursing students may note that the textbooks are quite expensive and may trigger rough semester expenditures of up to hundreds of dollars.
• Student Needs: You will need things like uniforms, a stethoscope, and other supplies. These may range up to more than $200.
• Guess How Much: Traveling to attend your clinical rotation sites and the school can be expensive, especially so if you need to go for quite a distance.

Common Extra Costs

• Clinical Sites: Luckily, tuition can be free or include clinical sites. On the downside, however, it might mean added expenses for gas, parking, or public transportation, especially if there are a lot of clinical sites that are far from one another.
• Getting Recruited: After earning her degree, the NCLEX-RN exam is compulsory for a nurse to be recruited. The charge for the exam itself ranges around $200 but it would be natural for extra costs to range for processing and for background checks as well.
• Monthly Expenses: While studying on a full-time schedule, it is possible that you may have little or no shift from your job. It goes without saying that this moderately stresses a budget for a bed, a few overhead lights, basic ingredients, and many more that help afford life.

Financial Aid and Scholarships

The good news is that there are ways to lower the cost of nursing school. Most of nursing students do receive financial assistance to pay for the tuition fee and other expenses. Financial assistance can either be a grant, scholarship, or education loan.

Scholarships

Even though it’s often a challenge for nursing college students, there are many nursing schools or organizations out there that offer nursing scholarships. Some scholarships are awarded based on merit while others are based on financial need or contribution to society.

• Nursing Scholarships – the amounts given out are mostly in the range of $500 to $10,000 with some exceptions.
• Federal and Private Loans: These loans allow the students to pay the fees and living expenses whilst studying, however, these loans must be repaid after graduation.
• Federal Student Loans: There are different types of student loans for college with interest rates that fall between 5% and 7%.
• Private Student Loans: The subject of student loan rates arises mainly because private loans typically fall within the 6% to 14% range or higher.

Expenses for Nursing Education through Online Platforms

In recent times, online nursing courses have seen a spike in interest – the coronavirus pandemic period was a catalyst in this. These courses provide the convenience of those wishing to get the qualification while being employed or having a family to care for.

• LPN/LVN Online Courses – These tend to be in the same range as onsite courses but provide a greater level of convenience.

• Cost estimates: $10,000 to $15,000

• ADN and BSN Programs Online – Distance RN programs can reduce costs for travel and/or accommodation, yet, their tuition fees are pretty much on par with conventional colleges.
• Estimated costs – ADN $20,000 – $50,000; BSN $30,000 – $80,000.
• Online Master’s in Nursing Programs: Generally, the student is expected to pay lower fees if they choose to pursue their online MSN from a public institution.
• Approximately, costs range from $20,000 – $60,000.

Is Nursing School Worth the Cost?

Having understood what the average expenses of a nursing school are, the next thing that comes to mind is whether this is an expense that is worth it or not. The first thing to check in this instance is the starting salary received by various types of nurses in the year 2024:

1. CNA – base annual payroll: USD 30,000.
2. LPN/LVN – base annual payroll: USD 48,070.
3. RN – ADN – base annual payroll: USD 77,600.
4. RN – BSN – base annual payroll: USD 82,000.
5. Nurse Practitioner (MSN qualified) – base annual payroll: USD 124,000.

As stated, the higher degree you possess the more money you will earn. Otherwise, whatever the expense, nursing graduates almost pay their nursing school tuition costs within a span of a few years of working. In addition to that, nursing is among the few professions in which there is high job demand continuously.

Regarding the Bureau of Labor Statistics (BLS), the projection of the growth of the place for nurses’ jobs within the period of 2022 and 2032 is 9 percent which is faster than average growth in all occupations which means chances of securing a job shortly after completing studies are high.

Tips to Save Money on Nursing School

If you are searching for tips to Save Money on Nursing School Fees, have a look at these tips for reasons such as anticipation that your shortcomings will lead to nursing school:

1. Enroll at a Community College First – Begin from a community college, as average tuition rates there are significantly lower than those at any four-year institution.
2. Look for Scholarships – Work hard to look around for local and even national nursing scholarships. It is always appreciated that every bit counts in the long run.
3. Part-time Work – Many members of the staff at the hospitals can benefit from tuition reimbursement programs provided by their employers. In fact, low working hours while studying may help to alleviate the student loan issue.
4. In-State Schools – In fact, in-state public schools are lower in cost when looking for higher education compared to private and out-of-state institutions.
5. Live at Home – As far as it is possible, reside with your relatives to minimize your expenditure on rent and food.

FAQs

Which is the cheapest nursing degree?

The Associate Degree in Nursing is regarded as the least expensive enabling program with an average fee expense of $23900- $66320.

Can I apply for financial assistance in a nursing school?

Yes, a number of nursing students apply for scholarships, grants, or student loans as a means to assist them in affording schooling.

What are the charges for nursing programs online?

How much a nursing program costs online is not fixed, but in certain cases, these programs may be cheaper than the on-campus ones where you pay for accommodation and transport.

Is it worth it to pay extra for a BSN as opposed to an ADN?

A considerable percentage of students will argue that the additional cost is worth it as those with BSN degrees are more likely to get management roles with attractive salaries.

How much does a nurse make on average?

The average annual pay for registered nurses is $77,600, a basic figure with great variability, larger than that of advanced practice nurses.

Concluding Thoughts

Sure, nursing school requires considerable resources. But if you know the costs that go into the program and how to obtain financial assistance, then you can ease your expenses and start your nursing career on a good note. Whether you go for an ADN, BSN, MSN, or DNP program, what you have to do is to plan, spend prudently, and choose the right educational path.