Online Healthcare Management Degrees with Financial Aid
Financing a healthcare management program does not have to be overwhelming. This EduMed guide will help you discover well-regarded healthcare management programs that offer generous financial aid packages, including scholarships and grants specifically designed for nursing students.
We’ll take you through the process of applying for financial assistance, from completing the Free Application for Federal Student Aid (FAFSA) form to seeking available scholarships. Learn how to achieve your potential, become a nurse without being strapped with debt, and enjoy a more fulfilling salary.
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Program Profiles: Healthcare Management Programs that Offer Financial Aid
The U.S. Department of Education offered an impressive $46 billion in scholarships in 2023. An average first-time undergraduate student earned $15,750 in funding from grants and scholarships in 2024, according to the Education Data Initiative.
The key to making a healthcare management degree affordable is choosing an accessible program and finding scholarships and grants that you are eligible for.
We highlighted several healthcare management programs that excel based on financial aid strategies. Some take the form of military veteran discounts or adult learner discounts. You’ll see a variety in monetary awards offered, regardless of your particular situation.
Liberty University
Liberty University offers a BS in Business Administration and Data Analysis – Healthcare Management degree program. The program is certified by the Accreditation Council for Business Schools and Programs (ACBSP).
Affordability, accessibility, and academic quality are high priorities for Liberty University. Resources are available to help fund your degree. The school keeps tuition prices low due to its status as a non-profit university. Nearly 80% of students receive financial aid.
The university lets students defer payments if they receive corporate tuition assistance. It offers tuition discounts of up to 55% to service members, veterans, and their spouses.
Mode: Online
Cost: $390 per credit hour (tuition for full-time undergraduate students)
Types of Aid:
- Grants: Virginia residents can apply for the Virginia Tuition Assistance Grant (VTAG), which provides free financial aid based on need.
- Scholarships: The school offers merit-based or need-based awards that students don’t need to repay.
- Outside Aid: Funds from external sources (such as private scholarships from organizations) might be available.
- Work-Study Program: Part-time job opportunities are available for students who demonstrate financial need; these jobs are often located on campus.
Maryville University
Maryville University offers a hybrid bachelor’s degree in Healthcare Management program. It concludes with a 16-week course on personal and professional development. The university provides several scholarships, such as the University Scholars Program, that pay for tuition plus room and board.
Full-time undergraduate students are automatically considered for merit scholarships that range from $6,000 to $14,000 annually. Over $59 million was awarded in scholarships and financial aid last year. Financial aid options are listed on the school’s website.
Mode: Online or hybrid
Cost: $38,366 (tuition and fees for full-time students)
Types of Aid:
- Federal grants such as Pell Grants and Stafford Loans
- Access Missouri Grant
- Ross Barnett Award
- Maryville University Grants and Institutional Scholarships
- Merit-based Scholarships such as the Trustee Scholarship, the Multicultural Scholarship, and the Tomorrow’s Innovators Scholarship
- College Work-Study and Institutional Work-Study Programs
Northeastern University
Northeastern University offers an online MS in Management degree program. The Healthcare Administration concentration prepares students for healthcare management and leadership roles. The program is a collaboration with the Mayo Clinic College of Medicine and Science. Students learn about healthcare policy, management, finance, and quality improvement.
Nearly half of the students admitted to this program receive financial aid. The average award amount is $10,000.
Mode: Online
Cost: $24,000
Types of Aid:
- Payment Plans: Students can spread tuition payments over time with Flywire.
- Financial Aid: Students can explore grants, scholarships, and federal loans. (A FAFSA form is required).
- Supplemental Loans: Students can consider private loans if necessary, but they should carefully consider taking out a loan.
FIND PROGRAMS NEAR YOU:
Financial Aid Eligibility and Application Checklist
- Explore various aid options (grants, scholarships, loans, and work-study programs).
- Understand the criteria for each program (GPA, financial need, etc.).
- Prepare tax returns, transcripts, and other required materials.
- Mark application deadlines on your calendar and apply early.
- Compare offers and choose the best fit for your needs.
Complete the FAFSA Early
- Create an account at studentaid.gov/fsa-id/create-account.
- Have your tax information, Social Security number, and driver’s license ready.
- The FAFSA process begins on Oct. 1 each year; apply early for priority funding.
- Include the codes for each school you’re considering.
- Submit a FAFSA form and complete any requested verification steps.
Review Eligibility Criteria and Requirements
- Review program requirements thoroughly (GPA, residency, etc.).
- Target programs that match your qualifications.
- Contact financial aid offices if you have questions.
Check Deadlines and Apply Early
- Mark the deadline for each program on your calendar.
- Apply for programs with approaching deadlines first.
- This demonstrates your commitment and increases your chances of receiving financial aid.
Gather All Necessary Documents
- List all required documents for each program.
- Gather tax returns, transcripts, etc., in advance.
- Order transcripts early, as it might take time for schools to process them.
Receive Feedback on Supplemental Materials
- Ask professors or mentors to review your essays and personal statements.
- Ensure your writing is clear, concise, and error-free.
- Customize your essays to highlight relevant skills and experiences.
Review Award Letters
- Evaluate the types and amounts of financial aid offered by each school you apply to.
- Read the fine print, including interest rates and repayment options.
- Contact financial aid offices for clarification or assistance.
Common Funding Options for Healthcare Management Students
Financing a relevant program is a significant step in the path toward a career in healthcare management. Many options are available to students, ranging from federal and institutional aid to payment plans and scholarships. Reviewing these options can help you make knowledgeable choices and build a plan that best suits your desired career path.
Federal Student Aid
Federal student aid is an important source of funding for nursing students. It consists of grants, loans, and scholarships. You’ll need to submit a FAFSA form to be eligible for need-based assistance, including Pell Grants and subsidized loans. You might also be eligible for unsubsidized loans, which are not need-based.
Institutional Aid
Most nursing schools provide institutional assistance such as grants and scholarships to help students fund their education. These programs might have special eligibility criteria, including academic merit or financial need. Reach out to your school’s financial aid office to discover more about available options and learn how to apply.
Payment Plans
Payment plans allow you to defer tuition payments over a set period of time, which makes budgeting easier. Most colleges and universities provide monthly payment plans that allow you to make tuition payments in installments instead of a single payment. This is an especially good idea if you work while attending classes or want to make lower periodic payments to ease stress on your finances.
Scholarships and Grants
Scholarships and grants are an excellent way to fund a healthcare management program. They are usually merit-based or given according to financial need. Many organizations, professional associations, and foundations offer scholarships. Investigate and apply for scholarships that match your background, interests, and academic record.
Examples:
American College of Healthcare Executives (ACHE)
- Amount: $5,000
- This professional society offers scholarships like the Albert W. Dent and Foster G. McGaw Graduate Student Scholarship.
The Institute for Diversity in Health Management
- Amount: $1,000 to $5,000
- This organization offers three scholarships for graduate students who are pursuing a degree in healthcare administration.
Find more scholarships for healthcare management students.
