Pursuing a Doctor of Nursing Practice (DNP) degree is a significant investment in your future, offering advanced clinical skills and leadership opportunities. The demand for nurse practitioners is expected to grow by 54% over the next decade, adding over 110,000 new jobs nationwide with an average salary of $120,680. However, financing this degree can be challenging. Fortunately, there are several state and federal financial aid options available to help you achieve your educational and professional goals!
State and Federal Financial Aid for Your DNP
Wisconsin Higher Educational Aids Board (HEAB) Funding
- Wisconsin Grant: Provides need-based grants to Wisconsin residents enrolled at least half-time in degree programs. Awards range from $250 to $3,150 per year.
- Nursing Student Loan Program: Offers loans to nursing students, with up to 50% of the loan forgivable if the recipient practices in Wisconsin during the forgiveness period.
Want to Teach? Check out the Nurse Faculty Loan Program (NFLP)
This federal program provides loans to students pursuing advanced nursing degrees who plan to become nurse faculty after graduation. Up to 85% of the loan can be forgiven if the recipient works as a full-time faculty member at an accredited nursing school for four years.
Public Service Loan Forgiveness (PSLF)
The PSLF program forgives the remaining balance on Direct Loans after 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, such as a government or non-profit organization.
Employer Tuition Assistance
Many area employers offer tuition assistance or forgiveness as a benefit of your employment. The amount of assistance and associated terms vary by employer.
Graduate School Scholarships and Fellowships
UWM graduate students are eligible to apply for several scholarships through the graduate school. Award amounts vary.
The Value of a DNP Degree at UWM
Investing in the DNP degree is a strategic move that can lead to a long and rewarding career. With various state and federal financial aid options, including grants, loans, and loan forgiveness programs, financing your education is more manageable. The strong job growth and high earning potential for nurse practitioners further justify the investment in a DNP degree. If you’re considering advancing your nursing career, now is an excellent time to explore these opportunities and take the next step towards your professional goals.
Interested in learning more about the DNP Program? Check out our BS-DNP program page or our Post-Master’s DNP Online program page, or contact us with any questions.