MSN Financial Aid
Financial aid is available in the form of a partial scholarship (for full time students only) from the School of Nursing and federal loans. Federal loans are offered to students that are enrolled full time (12 hours or more a semester) and part time students (part time eligibility consists of at least 5 hours a semester). Financial aid packets are mailed in January to all students that have applied for admission to our nursing program. The financial aid packet will explain what types of aid is offered and how to apply for financial aid. Students can apply for financial aid after January of the year they plan to enroll.
The School of Nursing also offers full and partial internal scholarships to MSN students enrolled full time. The average partial scholarship award for MSN students is approximately $6,900 a year which typically covers the cost of books for the academic year. Post Master’s certificate students are not eligible for an internal scholarship.
Is the Financial Aid sufficient to cover the cost of the program and living expenses?
Students find that the monies they receive in Federal loans covers the cost of the program and modest living expenses.
How Do I Qualify for Financial Aid?
Graduate financial aid consists of scholarships and student loans. In order for students to be considered for scholarships they must be accepted to the School of Nursing, have matriculated (paid their deposit) and be must be enrolled full time. Financial aid for graduate level students is non-need based aid. Non-need based aid for graduate students includes scholarships, Unsubsidized Stafford loans and Federal Graduate PLUS loans on which the interest accrues from the date of disbursement. Internal scholarships from the School of Nursing are merit-based. They are awarded based on the admission process in which faculty review all admission applications and give scores for different parts of an admission application. Those scores are used in determining the scholarship amount. Full-time enrollment (12 hours per semester) is required to be considered for a scholarship award. All awards are made through the School of Nursing Scholarship Task Force according to the requirements of the funding source. In order to qualify for federal student loans, a student must be enrolled in at least five credit hours per semester and be degree seeking. Part-time students and post-master's students are not eligible for internal scholarships but may qualify for federal student loans.
How Do I Apply?
To apply for federal Stafford student loans, a current or prospective student must complete one application: the Free Application for Federal Student Aid (FAFSA) ( https://studentaid.gov/h/apply-for-aid/fafsa ). The FAFSA must be filed annually and is available to complete by December of each year. Our school code for the FAFSA is 003535. There is no application required to be offered the internal scholarship.
Your tax information from the previous tax year as well as other factors on the FAFSA, combine to form an Expected Family Contribution (E.F.C.) figure. This figure, along with other financial aid formulas, determines an individual's eligibility for financial aid based on federal guidelines. This information is then provided to the School of Nursing Student Financial Services Office which determines the types and amount of funding available based upon financial eligibility. Students do not need to complete a separate form to receive a partial internal scholarship. The School of Nursing awards one partial nursing scholarship to every full time student.
All external scholarship applications must be initiated by the student.
How are financial aid awards disbursed?
All financial aid is credited directly to a student's account. A financial aid file must be complete in order for available funds to credit the student account. Scholarship funds are disbursed at the beginning of each semester. In order to receive a loan, promissory notes must be completed online and approved before loan funds disburse to the student account. All loans are disbursed in two or three equal installments to the student's account at the beginning of each semester.
What if I have additional questions?
Questions regarding financial aid should be directed to:
Kristie Smith Futrell, Director, Student Financial Services
Address: Vanderbilt University School of Nursing
180 School of Nursing
Nashville, TN 37240
Toll Free: 800-211-2186