Once you’ve been accepted into the Nurse Anesthesia (CRNA) Program you should create a financial plan so that you can concentrate on your studies, not your expenses.
Program Value
One of the greatest financial benefits about our program is the outstanding value per dollar that we offer.
Our unique curriculum allows students to complete requirements and become certified in a shorter time frame than 90 percent of other nurse anesthesia programs. Every additional month you spend in school represents not only tuition dollars paid, but a significant amount of salary that you’re not receiving.
The nurse anesthesia program remains an excellent value, providing a top-ranked education with costs in line with other private institutions. A nurse anesthesia education, in general, represents an outstanding value when comparing the cost of education to the typical salary of a graduate.
Benefits
- Attend classes and gain practical experience in a professional atmosphere at a recognized academic medical center and university.
- All CRNAs at Wake Forest Baptist are hired as clinical instructors.
- All anesthesiologist instructors at Wake Forest Baptist are also faculty members of the School of Medicine.
- Receive access to resources and library at Wake Forest School of Medicine.
- Be covered by a professional liability policy paid for by North Carolina Baptist Hospital (NCBH).
- Receive access to student-rate health insurance (the same policy used by our medical students).
- Receive aid tuition for ACLS, PALS and NRP certification courses, which we will organize for you.
- Receive 20 discretionary days off from clinical duties per year (in addition to program holidays).
Where do I find cost of attendance information for a specific program?
I am a prospective student. When do I start the financial aid application process?
Please apply for the Free Application for Federal Student Aid (FAFSA) for federal loan funding. The FAFSA is required in order to obtain federal loan funds.
What is the deadline to apply for financial aid?
The deadline for submission of all financial aid information for the MD and PA programs is March 15. The deadline for submission of all financial aid information for the CRNA and DNP programs is May 15.
How do I find information about outside scholarships?
For MD external scholarships, students should visit the AAMC and the AMA for information on potential outside scholarship sources. Students are encouraged to check with their local towns for potential scholarship funding sources as well.
For the CRNA and DNP programs, students should visit the The NC League for Nursing Academic Scholarship Program and Nurses' Educational Funds, Inc for information on potential outside scholarship sources.
The Office of Financial Aid receives scholarship information from various organizations periodically throughout the academic year. Students are notified about these scholarship opportunities via email, CANVAS, and the WakeUP student portal.
The following resources are a great start as you search for outside scholarships:
- AAMC FIRST for Medical Education Financial Info and Tools
- Website searches from Fast Web, SallieMae College Planning, and the College Board
- Financial Aid Information Page
How long do I have to accept or decline my financial aid award package?
Accept or decline your award package online within 14 days of receipt. (All Programs)
How do outside scholarships affect my financial aid package?
Your financial aid package may be affected by outside scholarships. Receipt of outside scholarships and other resources must be reported to the Office of Financial Aid and will result in a review of your financial aid package. Students should inform the Office of Financial Aid of these resources in writing.
A portion of my financial aid will cover my living expenses. When and how do I receive this money?
Funds are disbursed at the beginning of each semester, and dates vary depending on your class. After tuition and other fees have been paid, you will receive a refund of any remaining funds. After receipt of your refund, you should consider:
- Tracking your expenses for one month to establish a baseline of your expenses.
- Dividing your disbursement by the number of months you need to cover. Spend only this amount each month, and your funds should last until your next disbursement.
- Being creative!
- Depositing your whole disbursement into your savings account and paying yourself monthly.
- Paying all fixed expenses for the semester (rent, insurance, car payments, etc.) as soon as you receive your disbursement.
Can I receive loans to cover costs that exceed the standard budget?
Students are not allowed to receive loans or scholarships in excess of the cost of attendance (COA), which is determined based on the anticipated expenses of a single student. COA cannot be increased for consumer debt, car payments or a standard of living beyond that of a typical student. If you do not take out the full COA and realize you need more money, you may request up to the full COA at any point during the financial aid year. If you choose to take out the full COA and realize later that you will not need the full amount, you can return funds to your student account within 120 days of the disbursement date.
How do I qualify for loan forgiveness?
The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. Qualifying employment requires you to work full time for 10 years in either a nonprofit, government, military or public service organization. While working in a qualifying public service position, you must make 120 on-time payments in an eligible repayment plan.
For more information, visit the Association of American Medical Colleges and Institute for College Access and Success.
CRNA Cost of Attendance (COA) 2020-2021
| CRNA Program |
First and Second Year (12 Months) |
|
Tuition |
$36,650 |
|
Program Fees |
$2,149 |
|
Books and Equipment |
$1,400 |
|
Food |
$5,760 |
| Health Insurance |
$3,848 |
| Lodging | $8,400 |
| Miscellaneous | $2,160 |
| Transportation | $3,240 |
|
Loan Fees |
$2,193 |
| Utilities | $3,540 |
|
Total |
$69,340 |
Additional Requirements and Costs
Health insurance coverage:
Students are responsible for maintaining health insurance through the medical center or other provider of their choice.
Uniform:
The student should have at least two standard length white lab coats. Although no other special uniform is required, the student is required to abide by a professional code for dress and appearance. Operating room attire is supplied by the hospital.
Other costs:
In addition to the above expenses, the student should also consider housing, meals, transportation and loss of income during the educational period.
How is Cost of Attendance determined?
Cost of Attendance is the total amount of aid, including scholarships, grants and loans, that you are eligible to receive for the entire year. The Cost of Attendance is derived based on living expenses in the Winston-Salem area and information from student surveys. The amount provided each year allows a Wake Forest School of Medicine student to live comfortably alone, not luxuriously. Cutting costs in any way, including getting a roommate, budgeting money for food and other expenses, and living as frugally as possible are recommended.
It is not required that you accept the full Cost of Attendance each year. The amount you accept is flexible. You are allowed to return funds if you accept too much or request more if you run short as long as you stay within the Cost of Attendance.
Scholarship and Financial Assistance
- Options include loans, scholarships, Veteran benefits, government traineeship grants and student loans through the American Association of Nurse Anesthetists (AANA).
- CRNA students who are NC permanent residents are eligible for North Carolina Forgivable Education Loans for Service.
- Students that need financial assistance must complete a Free Application for Federal Student Aid (FAFSA) form.
- We are approved by the Veteran's Administration (VA) as a qualified educational program, for those who qualify for VA benefits.
Disbursement Dates
| Application Submission | |
|---|---|
| FAFSA Available | October 1 |
| FAFSA Deadline | May 15 |
| Award Notification | |
| Financial aid Award Letters Emailed | Mid-May |
| Federal Loan Disbursement Dates (Refunds to students are direct deposited within 14 days of disbursement date) | |
| CRNA1 - Fall 2020 | August 13, 2020 |
| CRNA2 - Fall 2020 | August 13, 2020 |
| CRNA1 - Spring 2021 | January 4, 2021 |
| CRNA2 - Spring 2021 | January 4, 2021 |
| CRNA1 - Summer 2021 | May 10, 2021 |
| CRNA 2 - Summer 2021 |
May 10, 2021 |
| 120 Day Federal Loan Excess Fund Return | |
| CRNA1 - Fall 2020 | November 20, 2020 |
| CRNA2 - Fall 2020 | November 20, 2020 |
| CRNA1 - Spring 2021 | April 19, 2021 |
| CRNA2 - Spring 2021 | April 19, 2021 |
| CRNA1 - Summer 2021 | August 23, 2021 |
| CRNA2 - Summer 2021 | August 23, 2021 |
All expenses quoted on this page are subject to change without notice.