Financial Aid and Scholarships for Medical Billing and Coding
Students have many choices available for medical billing and coding programs, ranging from online diplomas to associate of applied science (AAS) degrees. For most students, financial considerations are a big part of the decision-making equation. The costs of these programs vary, but the average AAS degree in medical billing and coding can cost anywhere from $4,000 to $10,000, depending on the institution.
Figuring out how to pay for school can be stressful, but payment plans, grants, and scholarships can help ease the financial burden. The following scholarship list provides the monetary value and description of the requirements for each award.
Check out these resources for financial aid and scholarships to help get started with earning a medical billing and coding degree.
Popular Online Medical Coding and Billing Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
National Private Scholarships
Across the nation, philanthropic companies and non-profit organizations generously offer scholarships. Many of these national, private scholarships are available to medical billing and coding students for school expenses. Each organization offering a scholarship has a list of specific requirements needed in order to qualify for these awards.
As part of the application process, applicants may be asked to submit additional information, such as proof of U.S. residency, letters of recommendation, school transcripts and an essay written by the applicant on a predetermined subject. Some of these scholarships are based on merit and/or financial need and might be aimed toward certain demographics, with more specific requirements regarding gender, economic status, or ethnicity. Some available national scholarships for students interested in pursuing medical billing and coding are listed here:
The Abbot and Fenner Scholarship
Abbot and Fenner Business Consultants offer the Abbot and Fenner Scholarship to high school juniors, seniors, and college students currently enrolled in an approved post-secondary school. This scholarship is awarded based on a 500- to 1,000-word essay that students submit by email. The topic and email address can be found on the website.
The deadline to apply is in June.
Amount: $1,000
The American Health Information Management Association (AHIMA) Merit Scholarship
Merit Scholarships go to student members of the American Health Information Management Association (AHIMA) who are enrolled in an accredited health information program and maintain a 3.5 GPA. Candidates must also have at least one full-time semester remaining in their program. Additional requirements and eligibility criteria are listed on the application found online.
The deadline to apply is in May.
Amount: $3,000-$10,000
HIMSS Foundation Undergraduate/Graduate Candidate Scholarships
The Healthcare Information and Management Systems Society (HIMSS) awards scholarships for undergraduate and graduate HIMSS student members. Candidates must be enrolled in a health information and technology or healthcare management system program. For consideration, applicants must submit a resume and a letter of recommendation.
Amount: $5,000 (undergraduate and graduate)
Regional Private Scholarships
Like national private scholarships, regional private scholarships aid in financing degrees in medical billing and coding. These scholarships have location-based restrictions and are typically offered to students residing in certain U.S. regions or states, or to students attending a specific university. Some regional scholarships are restricted to applicants currently attending high school in specific states or counties.
Qualifications and the application process can be found on most scholarship websites. Students may be required to submit additional information, such as school transcripts, letters of recommendation, and essays, in addition to the application. Due to the stricter requirements, regional private scholarships may be less competitive than national private scholarships.
Take a look at some of the available regional scholarships for medical billing and coding students listed below.
CHIA Awards and Scholarship Program
The California Health Information Association offers several scholarships to member students pursuing an accredited health information administration or management degree. Candidates must have completed at least half of their program, and submit an application with transcripts, two recommendation letters, and an essay.
The deadline for the award is in March.
Amount: $750
Fort HealthCare Unified Scholarship Program
The Fort Memorial Hospital Foundation offers several scholarships for residents in the Fort HealthCare service area in pursuit of a healthcare degree. Application requirements vary by award and may include essays, transcripts, community involvement, and two letters of recommendation.
The deadline to apply is in March.
Amount: $500-$3,000
The GHIMA Scholarship
The Georgia Health Information Management Association (GHIMA) offers this award to students pursuing a career in health information management (HIM). Students must be Georgia residents and enrolled in an accredited HIM program at the associate, bachelor’s, or master’s level. They must also maintain at least a 3.0 GPA and submit transcripts, two letters of recommendation, and a resume in their application.
Applicants must demonstrate involvement in the HIM association, either by employment in HIM or through community work.
The deadline to apply is in June.
Amount: Varies
The HAHIMA Scholarship
The Houston Area Health Information Management Association (HAHIMA) offers this scholarship to students pursuing a degree in health information management (HIM). To qualify, students must be in the second year of a registered health information technician or registered health information administrator program or in a cancer management associate program.
Applicants must be HAHIMA members with over nine hours completed in a HIM program and a minimum 3.0 GPA. Students must submit an application with transcripts, a letter of recommendation, and an essay for consideration.
The deadline to apply is in February.
Amount: $500 or $1,000
The Mary M. Zannis Scholarship
The New York Health Information Management Association (NYHIMA) offers the Mary M. Zannis Scholarship to students pursuing an associate or bachelor’s degree at an accredited undergraduate health information administration or health information technology program in New York.
Applicants must be NYHIMA members, reside in New York, and have completed at least 12 credits with a minimum 3.0 GPA. Students must include an essay, transcripts, and two letters of recommendation in their application.
The deadline for applications is in March.
Amount: $1,000
The New York State Chapter of HIMSS Scholarship
The New York State Chapter of the Healthcare Information and Management Systems Society (HIMSS) offers scholarships to members in pursuit of a degree related to healthcare information technology and management systems in New York. Applicants must submit an essay of at least 500 words and hold a minimum 2.0 GPA.
If selected, the applicant must serve the HIMSS committee for at least one year.
The deadline for applications is in March.
Amount: $2,500
NJHIMA Scholarships
This award is offered by the New Jersey Health Information Management Association (NJHIMA) to students currently enrolled in an accredited undergraduate health information management or technology program. Applicants must be AHIMA members, residents of New Jersey or attending an in-state school, and hold at least 12 credits with a minimum 3.0 GPA.
Candidates must submit a 500-700-word essay and commit to volunteering with NJHIMA for 10 or more hours.
The deadline for the award is in May.
Amount: Varies
The NYHIMA Book Fund Scholarship
The NYHIMA Book Fund Scholarship is offered by the New York Health Information Management Association (NYHIMA) to students pursuing an associate or bachelor’s degree in health information administration or technology at an approved New York State school. Applicants must be AHIMA and NYHIMA members, have completed at least 12 credits with a minimum 3.0 GPA, and reside or work in New York.
Along with the application, students must submit transcripts, two letters of recommendation, and a 150-200-word essay.
The deadline for the award is in March.
Amount: $300
The NYHIMA Returning Student Scholarship
The New York Health Information Management Association (NYHIMA) offers the NYHIMA Returning Student Scholarship to students planning to advance their role or transition into a career in health information management. Candidates must be enrolled in an accredited undergraduate program in New York, be active AHIMA and NYHIMA members, and have at least 12 credits with a minimum 3.0 GPA.
Applications must include a 500-750-word essay, transcripts, and two letters of recommendation.
Amount: $1,000
Health Professional Scholarships
Medical billing and coding opportunities are included under the larger umbrella of allied health professions. As a result, many scholarships awarded to allied health students are available to medical billing and coding students. There are also a number of income- and merit-based scholarships for students in a particular degree program that do not hold industry-based requirements. These scholarships are typically open to U.S. residents and may require the student to hold a certain GPA.
As with other awards, students must submit extra information with the application. These awards are similar to regional scholarships as they often have requirements based on region, a specific school or certain demographic. Research can yield quite a few examples of allied health and related scholarships.
Below, you will find a few examples:
Allied Healthcare Scholarship Program
Provided by the California Department of Health Care Access and Information, this scholarship goes to full-time students in an allied healthcare program in an approved California school. Candidates must be interested in working in a medically underserved area in California as well.
The deadline to apply is in October.
Amount: Unspecified
The Allied Health/Graduate Scholarship
Bedford Community Health Foundation offers the Allied Health/Graduate Scholarship to full-time undergraduate and graduate Allied Health students attending an approved Virginia school. To qualify, students must be Bedford City or Bedford County residents, maintain at least a C grade average, and send a letter of request. Students must also plan to seek employment in the area after graduation.
The deadline to apply is in June.
Amount: Up to $1,000
The ASAHP Scholarship of Excellence
The Association of Schools of Advancing Health Professions (ASAHP) awards students enrolled in a healthcare degree program of any level at an approved ASAHP member school. Prospective applicants must have completed at least one term of their degree program. In order to qualify, students must be nominated by an ASAHP institutional representative and must also submit an essay and a resume.
Deadlines may vary.
Amount: $1,000
The George and Lucille Cushnie Scholarship Fund
The George and Lucille Cushnie Scholarship Fund is a need-based award offered by the Hawai’i Community Foundation to undergraduates and graduates pursuing a degree in a medical-related field. Applicants must be residents of Hawaii, and preference is given to those born in Hawaii. Students must attend an accredited non-profit school within the U.S. full time and have a minimum 2.0 GPA.
Deadlines vary.
Amount: Unspecified
The Health and Human Services Department Scholarship
The Health and Human Services Department at Cowley College offers a scholarship to students with a declared major in the Health and Human Services Department. Applicants must enroll full time, have a minimum 3.0 GPA, and live on campus or locally with a guardian. Applicants may also need to volunteer at a local school.
Amount: Unspecified
Islamic Medical Association of North America Scholarship Program
The IMANA scholarships are awarded to allied healthcare students in accredited U.S. institutions. For consideration, applicants need to submit transcripts, resumes, FAFSA student aid reports, and two letters of recommendation, along with an essay.
The award deadline is in March.
Amount: $5,000
National Society of Allied Health Student Scholarships
The NSAH provides scholarships to allied health students attending Historically Black Colleges and Universities. Undergraduate candidates must have a minimum 2.5 GPA, financial need, and be admitted to the professional phase of their program. As part of the process, applicants must submit transcripts, two letters of recommendation, and a personal statement.
The award deadline is in March.
Amount: $500
The Robert D. Kruse Memorial Scholarship
The Robert D. Kruse Memorial Scholarship is offered by the Cleveland Clinic. This award is open to students enrolled in their final year of an eligible accredited health science degree program and holding a minimum 2.5 GPA. Special consideration will be given to students planning a clinical rotation through the Cleveland Clinic. Students must submit FAFSA information, transcripts, two letters of recommendation, and an essay with the application.
The deadline for applications is in March.
Amount: Up to $5,000
UAA Allied Health Administration Scholarship
The University of Alaska Anchorage (UAA) offers three annual scholarships to students enrolled in one of the school’s allied health programs. Applicants must be enrolled full time, have a minimum undergraduate GPA of 2.8, and demonstrate satisfactory academic progress.
The deadline for this award is in April.
Amount: Unspecified
The Second Chance Scholarship
The University of Alaska Anchorage (UAA) offers the Second Chance Scholarship to students enrolled in at least three credits in one of the school’s Allied Health programs. The award offers a second chance to students changing to a career in an Allied Health field. Applicants must also be Alaska residents, demonstrate financial need, and have a minimum 2.0 GPA.
The deadline for this award is in April.
Amount: Unspecified
More Ways to Pay for Medical Billing and Coding School
In addition to scholarships, there are other ways for students to help pay for their medical billing and coding degree. More information on these options is listed below.
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School Payment Plans
Several third-party organizations offer school payment plans to help students pay for their college education. Most schools require lump-sum payments for tuition and room and board. These third-party organizations work directly with schools and institutions to set up payment options. They allow students to budget the tuition payments over a period of months and may charge varying interest rates. For specific information regarding payment plan options, contact your school’s admissions or financial aid office for details.
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School Financial Aid
School financial aid options, such as loans and grants, are another way to make the challenge of paying for college a little easier. This type of financial aid can come directly from a specific college or university. Often, a student’s financial situation will be assessed prior to being approved for a school loan. It is important to research these loans, as loan length and interest rates vary. Many institutions offer scholarships and grants to students within certain departments or degree programs, which are considered awards and do not need to be paid back.
Colleges and universities typically have offices devoted to financial aid where students can gain information on how to apply for scholarships, loans, and grants. An admissions counselor will have information on these types of awards. Information regarding financing and the types of scholarships and grants available can usually be found on the college’s website.
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Employer Tuition Reimbursement
Some companies offer tuition reimbursement programs as an employee benefit. These programs are set up as a contractual agreement between the employer and employee in which employees, and sometimes even an employee’s dependents, can be reimbursed for the cost of continuing education.
An employer may offer tuition reimbursement toward classes that are job-related and conditional to employment. Some employers may even offer tuition reimbursement toward a degree unrelated to the job. Many company tuition reimbursement programs come with specific requirements. If the requirements are not met, the employee could then be responsible for covering the cost of tuition. Be sure to speak with a human resources representative to find out if your company offers such a program and for the specific rules and requirements for eligibility. Employees who receive these benefits may be required to report these reimbursements as wages or income on their tax returns, depending on the type of schooling.
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Federal Loan and Grants
The federal government offers several different types of financial aid. Although these loans are generally need-based, students may still be eligible for certain government loans regardless of their financial situation. Learners demonstrating financial need may qualify for a Pell Grant, Federal Perkins Loan, or a subsidized Stafford Loan. Other students may qualify for an unsubsidized Stafford Loan.
The government also offers a federal work-study program, which allows students to work part time while earning federal funding for college tuition and other related expenses. Filling out a Free Application for Federal Student Aid (FAFSA) is the first step to see if a student qualifies for government financial aid. This can be done through the college admissions office or online.
