The Definitive Guide to Health Administration (MHA) Scholarships and Financial Aid
Because government grants are not available to those working on a graduate degree, many people are discouraged as they look for ways to for a Master’s in Health Administration (MHA) degree. A career in health administration can be very rewarding, but it can be difficult to pay for your education in this area. As a result, it is not surprising many have to look for other financial aid options beyond government grants. The good news is that there are options out there — if you know where to look. Here are some ways to find MHA scholarships and financial aid:
Scholarships
The best way to pay for school, of course, is to get a scholarship. Free schooling is a bargain that cannot be beat. The good news is that there are more scholarships than you might think for those interested in getting a MHA degree. Here are some places to start your search for MHA scholarships:
- National Health Service Corps Scholarship: If you agree to serve in an area that is underserved in terms of health, you can apply for financial support from the government.
- ASAHP Scholarship of Excellence Award: You can get $1,000 if you attend one of the Association of Schools of Allied Health Professionals institutions.
- Your School: Many schools offer scholarships for their students. Check with your school’s MHA program to see whether your scholarship is available, and whether or not you qualify.
- Special Awards: There are a number of scholarships out there for particular groups of people. There are scholarships for women, minorities and other groups. Search for these scholarships, and you could get some money to help you with your schooling.
It is important to check the qualifications for the scholarship, and also to understand what you need to do in order to maintain the scholarship. In some cases, you have perform a certain amount of service, or do well in school, maintaining high academic standards. Make sure you do what it takes to retain your scholarship.
Graduate Student Loans
Even if you do not get a scholarship, it does not mean that you will be without financial aid for your Master’s in Health Administration degree. Indeed, many students find that they can benefit from student loan programs aimed at helping those in graduate school. There are two main categories of student loans offered to graduate students:
- Government Student Loans: Graduate students can get student loans via the government, even though they can’t get grants. Government student loans are available, based on your need, and the availability of funds. Fill out a FAFSA to get things started. However, government loans alone may not be enough to cover the cost of getting your MHA degree.
- Private Student Loans: If you cannot get what you need to cover the cost of your MHA degree with government loans, you can fill the gap with private student loans. These are loans offered through banks for the purpose of helping students fund their educations. Private student loans generally have higher interest rates than government student loans. It is important to try and secure scholarships and government student loans for your MHA degree, and then use private funding only to cover any gap that might remain.
A third option is becoming increasingly popular. Person to person lending is rising in popularity, and it can also be applied to student loans. It is possible for you to go to a P2P lending site and get a series of microloans to help you cover the cost of your education. There are also person to person lending sites designed especially for college students. In some cases, you can get the financial aid you need by going this unconventional route.
Your salary when you finish your MHA degree should allow you to repay any student loans you get. However, you should still borrow as little as possible. Remember that student loan debt is still debt, and you will have to repay it.
Assistantships and Internships
Other options for MHA degree financial aid include the use of assistantships and internships. Those working on their MHA degrees may find that there are opportunities to work to earn money to pay for their advanced education, with a little help from assistantships and internships.
Assistantships are offered by schools as a sort of work study program for graduate students. In most schools, you can do a teaching assistantship or a research assistantship. If you choose to teach, you will either help a professor with a class, or even be in charge of teaching an undergraduate class. With a research assistantship, you will be expected to help perform research and analysis under the direction of a professor at the school. You may have to help on his or her project, or do some other work. In any case, you will be expected to put in certain hours each week of work.
With an assistantship, you often receive a tuition waiver, meaning that you won’t have to pay for the class credits that you take. (You might still be responsible for paying student fees, though. Make sure you understand the policies.) You might also receive a small stipend as well.
It is important to note that you will probably have to apply for an assistantship, and that they can be quite competitive at some schools. You will have to demonstrate a solid understanding of concepts involved with health administration, and good time management ability if you want an assistantship.
Internships provide you with the opportunity to get real work experience as part of your schooling. An internship can be one way to get paid as part of your education — providing it is a paid internship. Some interships will give you cash, and others will pay your tuition. (Others, though, are unpaid, and will not help with tuition.)
You can find internships through ASPH, as well as through other organizations. Your school’s career center should also have internship listings. Check with your local health department or hospital to see if there are any internship openings. Like assistantships, internships can be quite competitive.
Bottom line: It is possible to find financial aid to help you pay for your MHA degree. However, you may have to do some looking, and take the effort to show that you are a knowledgeable and capable student.
