Dollars & Sense Uncovering Sources Of Financial Aid If You’re Headed For The Health Professions

So you’ve decided on a career in health care. Give yourself a pat on the back. But while you’re at it, give yourself a little push, too, because no one is going to knock on your door and hand you a bundle of money to pay for your education.
Here are 10 steps to improve your chances of financing your education in the field of health care.

1. Get moving! Experts say that one of the main mistakes students make is waiting too long to start their financial aid search. Begin in your junior year (or sooner). If you are already in your senior year, start your financial aid quest now and complete all of the necessary forms as soon as possible. Once you begin the paperwork, stay focused, because procrastination may mean missed deadlines for federal, state, institutional, or community grants, scholarships, or loans. “Each college has its own timeline, and we recommend that students file their information well before the deadline so they are in the first batch of paperwork when the awarding process starts,” says Ellie Miller, director of financial aid at Regis University in Denver, Colorado.
2. In good counsel Make an appointment with your guidance counselor for advice about financing your healthcare studies. “High school guidance offices maintain a list of local groups that offer scholarships for various fields, such as nursing, so we recommend that students always check with their guidance counselors,” says Linda Handy, director of financial aid at The University of Indianapolis. Guidance counselors also have the computer software, books, and other resources that are vital to your search. Consider your high school guidance counselor your central source for financial aid information.
   Regis’s Miller suggests, “Parents and students can also volunteer to update files or perform other tasks for their school guidance counselor in order to get a first look at scholarships. It’s a win-win for everybody.”
   But before you do anything else, learn how the financial aid system works. A good source is the revised, 31st edition of Don’t Miss Out: The Ambitious Student’s Guide to Financial Aid, $12, by Anna & Robert Leider (Octameron Associates, PO Box 2748, Alexandria, Virginia 22301). To order a copy, call 703-836-5480 or go to the website at www.octameron.com. Knowing how the financial aid system operates can help you organize your time and effort.

3. From the horse’s mouth Nicholas Flocco, director of financial aid at University of the Sciences in Philadelphia, says that although contacting a college’s financial aid office by phone to discuss your financial need is fine, it is also a good idea to meet with a staff member in person. “It doesn’t hurt to make an appointment with a college financial aid officer, especially if you have reviewed your financial aid package and think you deserve more money,” says Flocco. The middle of September, a relatively quiet period for most financial aid personnel, is usually the best time to do this. Be sure to ask about eligibility criteria and deadlines for aid granted directly from the college—and particularly about department-specific awards or similar types of aid for students who plan to major in the health sciences.
   If such awards are available, make sure you understand the eligibility requirements; you might even want to request a brief meeting with the head of the department to discuss whether you might qualify.

4. In the grand tradition When conducting your financial aid search, begin by investigating traditional federal or state funds. “Students should always complete the FAFSA (Free Application for Federal Student Aid) because that is the cornerstone of the financial aid process,” says Miller. Visit www.ed.gov or call 800-4-FED-AID for basic information about federal student aid programs, and ask college financial aid officers for details about state programs. An increasing number of states offer attractive financial incentives, particularly to students who attend a college located within their home state.
5. Surf’s up, Dude! The Internet is a powerful tool in your search for funds. To introduce you to the basics of financial aid assistance and help you demystify the process, go to www.ed.gov and under the “Information Centers” heading, click on “Financial Aid.”
   Other good resources include www.careersandcolleges.com, one of the Web’s largest scholarship searches, www.findtuition.com, and www.theoldschool.org, a financial aid resource center. Handy recommends three additional search sites: www.fastweb.com; www.collegeanswer.com; and www.collegeboard.com (click “For Students” and then click “Pay for College”).

6. Professionally speaking Virtually every healthcare profession has a professional association, and many of them offer scholarships or awards that can supplement your financial aid package, so contact the national association—or the local chapter of the association—of the specific healthcare field in which you’re interested. For example, if you want to become a dental hygienist, you can find the address and phone number of the national association of hygienists (and other national associations) in the Directory of Healthcare Associations or The Encyclopedia of Associations, which are usually located in the reference section of your local public library. Also, check for associations on the Web by visiting www.pohly.com and clicking on the “Health and Medical Associations” link. You’ll also find contact information for many professional associations in the “A Glimpse at the Profession” articles in this magazine.
7. Nooks and crannies If you want to uncover financial aid opportunities, explore all avenues, including websites such as www.estudentloan.com.
   A word of warning from the financial aid experts: College is expensive enough, so don’t shell out large amounts of money for scholarship search firms when you can find the information on your own. “There are so many free and low-cost scholarship searches that you don’t need to pay for them,” says Flocco. “You also don’t need to pay a consultant to help you fill out a financial aid form—a college’s financial aid officer can tell you what you need to do, when you need to do it and how to do it.” However, if you want to purchase a reference guide for under $25, there are listings of current grants and scholarships in books such as How to Go to College Almost for Free, by Ben Kaplan (Collins, 2001).

8. Make a pledge Some hospitals and healthcare agencies offer service commitment scholarships, which means that they will pay for all or part of your education if you promise to work for them (at full pay and benefits) for a certain period of time after graduation. Service commitment scholarships are not as prevalent as they once were, however, so you may have to search around to find one.
9. Bits and pieces To cover the cost of your healthcare education, expect to construct a financial aid “quilt” to pay for your tuition—that is, look for multiple sources of aid. “Your approach has to be broad,” Handy says. “Start with a federal grant or loan, then maybe add a state award based on need, and if you are academically or athletically talented, try for university aid or bring in an outside scholarship.”
   Here are some examples of how to find alternative sources to fund your college expenses:
   • Ask your parents to contact their company’s human resources department regarding available scholarships or grants for children of employees. Much of the financial aid money that you may have read goes “unspent” or “unclaimed” is in these employer-funded scholarships.
   • Check to see if you have any connections to organizations that fund scholarships. For example, if your parents served in the Marine Corps, ask if the Marine Corps offers grants; or if your grandfather belongs to the American Legion, investigate whether that organization sponsors a scholarship for family members.
   • Find out if your high school health or science clubs offer grants to students interested in the health fields.
   • Consider alternative sources, such as on-campus work-study programs, to provide income while you’re in college.
10. Don’t give up! It may sound corny, but the experts say persistence pays. “In addition to [using] the information provided by guidance counselors and financial aid officers, get out there and look on your own,” advises Miller. “There are many expenses associated with college, so it’s important to do your research. Don’t stop; keep hunting around.”

The variety of programs (and career possibilities) in the health professions is great, and changes in the way health care is administered will mean opportunities to work in more varied settings than ever before. Elsewhere in this magazine, you’ll get a glimpse of the range of career possibilities available to you.
So if you see your future in the health professions, give serious consideration to the colleges and universities profiled in this magazine—and start doing your homework now!
Article by Diane Bones and courtesy of www.careersandcolleges.com