Paying For Grad School

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Money is one of the biggest hindrances for students wanting to enter graduate school. However, it does not have to be. There are many ways to pay for graduate school. The difficult part is choosing which way works best for you? 


1. Find the Right Program: Before applying to a graduate program, find out how much aid the institution provides for graduate students. Not all programs provide enough aid, if any, to cover the cost for graduate school. If the school you are considering provides little or no aid to the department you want to study, consider looking somewhere else. Some programs have more funding than others and should be a great part of your decision making process.

 

2. Scholarships: You should also look for external scholarships and fellowships that could be applied to graduate school. There are various scholarships available for students based on their economic needs, ethnicity, gender, organization affiliations, area of study, etc.

 
3. Federal Aid: Federal aid can also be used for most graduate programs in the United States. Although this will result in you accruing interests on money you will have to pay back in the future, the benefit of having an advanced degree which could lead to a better paying job might be worth the risk.
 

4. Part-time: If time is not an issue, attending graduate school part-time is another way to pay for graduate school. Rather than paying the entire sum of a program, attending graduate school on a part time basis will permit you to incrementally pay for your program as you take classes and work full time. Also, it will give you more time for your other obligations such as friends and family. However, you will need to check with the school’s program. Some schools require students to graduate from their program within a set number of years.

 

5. Waivers: Finally, another way to pay for graduate school is to have graduate school pay for you. Many colleges and universities waive tuition costs for campus employees and their spouses. Similarly, if you can get a position as a teaching or research assistant, many universities will cover part if not all of your tuition costs. This is a common way that many graduate students use to cover academic costs.


Overall, there are many ways to pay for graduate school; you need to consider which method is best for you. For some people cost is of a greater concern than time, thus choosing to attend graduate school part-time, while others are more interested in completing their graduate program as quickly as possible. Either way, you can get the degree that you always wanted.

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