You have decided to become a medical coder, and you have also decided to pursue the proper training to make sure you are more desirable to potential employers. Now it is time to figure out how much you are going to have to spend on your education. Will you have to depend on student loans and risk going into debt, or are there medical coding scholarships available to help you pay your way? As you delve into the options available to you, you will discover that it is possible to pay for most or all of your education.
Turn to Medical Coding Organizations
If you have not already, join the American Health Information Management Association (AHIMA). The AHIMA Foundation has merit scholarships available to undergraduates pursuing health information technology careers, and for those pursuing master’s and doctoral degrees as well. In order to qualify, you must:
- Be a member of AHIMA
- Be enrolled in at least 6 credit hours
- Be working towards a degree
- Have a GPA of 3.5 or higher
- Fill out and submit the online application
The online application has essay questions for you to answer, requires a transcript, goes over your academic history, your education and career goals, and any professional or volunteer experience you have. The AHIMA Foundation has an entire list of medical coding scholarships on their website. These scholarships have specific criteria. Carefully read the descriptions of the medical coding scholarships offered, and only apply for an award if you meet the criteria outlined. For example, if you do not live in Oklahoma, there is no sense in applying for an Oklahoma CSA Scholarship, or if your volunteer history is scarce, then you will probably not be able to get a CSA Leadership Scholarship.
Get a Medical Coding Scholarship from Your School
Turn to your trade school, college, or technical school for financial aid. Schools often offer their own scholarships. Scholarships might cover anything from tuition, to books and supplies, to even a monthly stipend. Typical categories these scholarships fall under are as follows:
- Need-Based Scholarships awarded to students based on their financial need. Schools will use your FAFSA to determine how much financial assistance you need in order to pay for school.
- Service Scholarships awarded to students who were in the military, or to students who commit to service groups like the National Health Service Corps. Service scholarships can also sometimes cover dependents of those in the military.
Criteria for medical coding scholarships may vary depending on whether or not you are a resident of the state where your school is located. Always read the guidelines for the scholarships offered.
Federal Aid
In order to determine your financial need, schools will require you fill out a FAFSA, or Free Application for Federal Student Aid. Filling out a FAFSA will also determine if you are eligible for any federal financial aid. After you have filled out your FAFSA, a Federal Pell Grant might be an option for paying for your medical coding education. Pell Grants are different from loans. They do not have to be repaid. They are need-based grants usually awarded to undergraduate students who have not yet earned a bachelor’s or professional degree. Pell Grants are a good baseline financial award to help you start on your path to paying off school. The amount of money awarded each year depends on the program’s funding. You can only get one Pell Grant per year.
Digging Deeper
Your school can also be a great resource in helping you find outside opportunities for medical coding scholarships. Meet with your school’s financial aid counselor during your application process. Your counselor should be able to provide you with a list of state and private scholarships available to you. Be sure to pick up any scholarship forms available in your school’s financial aid office when you go to meet with the counselor. Remember when applying for medical coding scholarships to read the requirements thoroughly, and make sure that you have satisfied all the specified criteria. The first big step in securing financial aid is to avoid having your application rejected outright because you missed a small detail. Review all of your application materials carefully before submitting.
About our expert. Jan Jacobs has worked in medical offices since the early 1980's. Ms. Jacobs has worked for M.D.'s and D.O.'s in primary care and specialty care. She is employed as a senior medical biller and has been at her current job for nearly 10 years, where she uses three different billing systems.
