Pursing an educational path to become an ultrasound technician can be a costly venture, but scholarships, loans, and grants may help to ease the financial burden. Sonography students should be aware that some financial aid options, such as students loans must be repaid.
In order to qualify for certain types of aid you may be required to complete multiple applications and meet specific eligibility requirements. Scholarships are a popular option being that they do not require repayment, but may require some research and persistence. The financial aid office as the ultrasound school you are attending or planning to attend is a great place to start your search for available grants, loans, and scholarship opportunities.
Available Ultrasound Scholarships
Below you will find a list of current diagnostic medical sonography scholarships available to students nationwide.
| Scholarship Sponsor | Award | Deadline |
|---|---|---|
| SDMS Foundation Sonography Student Scholarship | $2,500.00 | June 30, 2015 |
| American Society of Radiologic Technologists Foundation | Varies | Opens November 1, 2015 |
| The Alan D. Waggoner Sonographer Student Scholarship Award | $1,000.00 | Passed |
| 2015 Anne Jones Scholarship | $2,500.00 | Passed |
Student Loans
In order to finance your education over a period of time you may look to private or federal student loans. A federal loan is government-issued and include various types, including the Federal Perkins, Direct Stafford, and PLUS. The Federal Perkins Loan is a need-based loan and, as of 2014, has a cap of $5,500 per year with a lifetime maximum loan of $27,500 for undergraduates, while $8,000 annually and $60,000 lifetime for graduate students. The Direct Stafford Loan has a subsidized option based on financial need that accrues no interest while you’re in school. The PLUS Loan requires the you to begin paying back the money the minute the loan is fully disbursed with the full payment due within 60 days of the final distribution. A private loan is typically a credit-based loan issued by private institutions and is usually more expensive than a federal loan. Private student loans are mainly used as a last resort when all other financial aid options are exhausted.
FAFSA
To find out if you are eligible to receive federal financial aid, you must fill out a FAFSA, which stands for Free Application for Federal Student Aid. The comprehensive form breaks down financial aid availability and helps you determine if you qualify for grants, loans, and or work-study options. Once you complete the form and submit it online, you will receive a PIN that allows for access to the information. From there, students can determine which ultrasound technology school and program best suit their financial and academic needs. To fill out a FAFSA, you must be a U.S. citizen or eligible non-citizen, other requirements include:
- Valid Social Security Number
- High school diploma or (GED)
- Registered with the Selective Service (if required)
- Maintains a GPA Minimum
- Has not Defaulted on Prior Federal Student Loans
Other Financial Aid Sources
The financial aid office at the school you are attending is an ideal place to start your research, as they can provide up-to-date information about potential scholarships, grants, and other aid sources. Employers in your area may offer tuition reimbursement programs; you would most likely pay for the classes upfront, pass the classes, and submit the receipts to your employer for reimbursement. Your financial aid office may also be able to direct you to companies, private donors, or community groups that may offer unique ultrasound scholarship opportunities.