Medical Billing & Coding Schools Online with Financial Aid

School Spotlights: Medical Billing/Coding Classes with Financial Aid

To help ease the financial burden for medical billing and coding students, we are featuring some of the most popular accredited schools and digging into their financial aid offerings. Our spotlights give you a real-world overview of the financial aid opportunities for each school and what you can expect if you enroll there.

Each of these schools has loan programs of varied types, with some additional scholarships and grants. Each institution also has a staffed financial aid department to help with forms and establish payment plans if available. Keep in mind that in order to receive financial assistance you may need to prove financial need or academic excellence. Let’s review some programs with financial aid options.

Top Scholarships for Medical Billing & Coding Students

Applying for and earning scholarships can alleviate part of the stress of educational funding, allowing you to focus on your studies and gain the skills needed to succeed in your career. Unlike loans, scholarships for medical billing and coding students don’t have to be paid back to the organization. Additionally, many scholarships feature benefits such as mentorship, networking opportunities, and professional development resources that can enhance your academic journey. Below, we’ll explore several popular scholarships for medical billing and coding students that can help you earn your education and meet your career goals.

American Health Information Management Association (AHIMA) Merit Scholarships

The AHIMA Foundation offers annual scholarships to student members pursuing degrees in Health Information Management or Health Informatics. Recipients must be current AHIMA members and be enrolled in an association-approved program. They also must have a 3.5 GPA or higher and at least a semester remaining in their program.

• Amount: $3,000 for associate degree students, $5,000 for bachelor’s degree students

Association of Schools of Allied Health Professions Scholarship (ASAHP) of Excellence

This ASAHP program recognizes academic excellence and future leadership potential for outstanding healthcare students. The organization also gives the Elwood Scholar, a second scholarship for the most outstanding Scholarship of Excellence recipient. Students must complete at least one term and be enrolled in a degree-granting program.

• Amount: $1,000 for the scholarship, an additional $1,000 for the Elwood Scholar award

AvaCare Medical Scholarship

The scholarship from AvaCare medical services and equipment provider recognizes outstanding students pursuing medical degrees who have demonstrated acts of kindness. Winners are chosen by a panel and from online voting. Winners must be U.S. citizens or have a permanent resident card, be high school seniors or college/university enrollees, and have a 3.0 GPA.

• Amount: $1,000

California Health Information Association (CHIA) Student Scholarships

CHIA offers scholarships that are designed to support students in their educational goals to advance their health information careers. Recipients must have completed or be on track to complete at least 50% of the program’s curriculum by the scholarship deadline. The CHIA also provides certification exam fee reimbursement to up to 20 students who pass on their first attempt.

• Amount: $750

Certified Professional Coder (CPC) Medical Coding Scholarships and Grants

The Coding Clarified news and professional website for coding careers offers several grants or scholarships for students in several states. These awards are provided by partner organizations as part of Coding Clarified’s Workforce program. Recipients must go through an eligibility screening in the state in which they live.

• Amount: Varied by state

Medical Billing Service Review Health and Technology International Scholarship

A scholarship from a health news website, this annual award goes to a college or university student who demonstrates a passion for health and technology. Recipients must be enrolled as a full-time student, even in online programs. They also need to demonstrate their personal interest in health and technology with an essay.

• Amount: $1,000

National Society of Allied Health Student Scholarship

Students who are attending Historically Black Colleges and Universities and earning a degree in an allied health profession can apply for two annual awards from this academic organization. Students must demonstrate financial need, provide recommendation letters and a personal essay, and have at least a 2.5 GPA.

• Amount: $500

New York Health Information Management Association Returning Student Scholarship

This award is given by the state’s professional group for health information management and goes to a student who is either going back to college or university or is hoping to start a new career in that profession. Students must be part-time attendees of a New York state accredited school.

• Amount: $1,000

Robert D. Kruse Memorial Scholarship Fund for Allied Health Professionals

If you are a student in the final year of your healthcare degree with a GPA of at least 2.5, you can apply for this annual scholarship from Cleveland Clinic. People who apply will need to provide a written statement about your academic journey as well as two recommendation letters.

• Amount: $5,000

Various Fort HealthCare Scholarships

This health and wellness provider gives a variety of scholarships for high school and early college students studying for a healthcare degree, and all of them can be applied for in a single form on its website. There are Fort HealthCare Partners Scholarships, Medical Staff Scholarships, and Hospital Foundation scholarships.

• Amount: Varied amounts per year.

Answering Common Questions

If you have questions about funding for your medical billing and coding education, you are not alone. Below, we’ve answered several of the most frequently asked questions to help you navigate the financial aid process and secure the most funding possible for your education.

Can you use FAFSA for medical coding?

Yes, tuition for medical billing and coding programs can be paid for in part through the Free Application for Federal Student Aid (FAFSA). Your first step is to fill out the FAFSA to first determine whether you’re eligible for federal student aid, which should take place as soon as you start exploring a certificate or degree in billing and coding. There are tight deadlines for FAFSA funds, so applying early will ensure you meet its deadlines and the ones from the school you are seeking to attend. Many college or university financial aid offices are willing to help you with the FAFSA form.

Can I learn medical billing and coding online for free?

It is possible to learn the basics through a free medical billing and coding program, but it’s important to note that you won’t receive the perks of a tuition-based program. You likely won’t earn a certificate or degree through free programs, and both of those options are important to get employed in the healthcare workplace. The free programs may work as a good test-run for you, though, as you navigate their content and decide if the challenge of being a biller/coder is something you’re willing to do.

Can I get a grant for medical billing and coding?

There are several different resources available for grant money related to medical billing and coding programs. The FAFSA, detailed above, is one such place to apply for grants that can cover any professional degree or certificate, including the popular Pell Grant program and the Federal Supplemental Education Opportunity Grant (FSEOG). There are also private groups such as the American Medical Billing Association and American Health Information Management Association that offer grants. You can also apply for state grants or ones from your school. Speak with the financial aid department of your chosen college or university to find out what’s available.

How much is the CPC exam?

The Certified Professional Coder (CPC) exam, which is a standard need for earning a great job with a healthcare organization or facility, costs $400 for the online exam (for a single attempt to pass) and $500 for the in-person exam (which can cover two full attempts). Be sure to check with the program you are attending to see if those fees are covered as part of its tuition. It’s likely you will need to also pay for the exam preparation, as the test is full of extensive questions about coding technology and medical terminology.

Types of Financial Aid

Finding funding for your medical billing and coding education will likely involve more than one source. It is possible, though, to get it all paid for through these different financial aid pathways. Here is a look at what is available for students seeking financial aid.

Grants and Scholarships

These types of financial aid are the most varied and prevalent. They include federal government programs that you can apply for through the FAFSA and state government grants that will also have their own forms. It’s also important to look into professional groups such as the American Association of Professional Coders to see what is available for grants. Scholarships also come from varied sources, and most are centered on general health careers.

Federal Student Loans

Here is another source of funding where you apply via FAFSA. There are several types of loans from which to choose, including subsidized loans that are based on need and feature interest-free options if you stay enrolled in a college or university. Unsubsidized loans — which do have interest and aren’t need-based — are also available. Parents can also use the PLUS loan to secure their own funding strictly for their children’s education.

Work-Student and Employer Assistance

Federal work-study programs are available, which pay for part of your education and also give you valuable on-the-job training in medical billing and coding. Some healthcare employers also provide tuition reimbursement or financial assistance for programs, and they often will find a role for you after graduation and certification. Financial aid agents at your school can help you find what is available to you.

Military & Veteran Benefits

Active-duty military members or veterans have several options to help pay for their education. The GI Bill is offered through the Department of Veteran Affairs and includes tuition and other expenses associated with attending college. There are also specific scholarships and programs tied to the individual branches of the military. Many schools and universities also offer their own discounts or special offers to veterans in order to have them be a part of their programs.

Professional Discounts

Among the more active professional groups that offer discounts, special promotions, or packages for certifications are the American Academy of Professional Coders (AAPC) and AHIMA. Belonging to these groups can qualify you for such offers, and it is often a requirement to become a member before being eligible for certification exams. Groups such as these also offer their own courses to help with certification tests, and if you qualify, they may be more affordable than those from a college or university.