Thinking about grad school? What are my options to get it "paid" for?

For some of us graduate school is on our minds daily. To the point where we eat and breathe grad school. It's so bad I see the words parading around in my dreams. But the most important question is, can I afford it? Sadly, most of us can not afford another tuition bill. So what are my options? How do I go to grad school and have it paid for?

The average tuition and living expenses for someone in grad school is about $31,000/yr. The average debt of a full-time master's degree student is $32,500. So how do students get it paid for? What are their options?

1.Loans

• Stafford Loan
• Federal Perkins Loan
• Graduate Plus Loan(you can borrow up to your FULL TUITION amount each year)

For those of us who dread loans...there are other options.

2.Other Options

• Grants
• Scholarships
• Fellowships
• Teaching Assistantships
• Research Assistantships

Plan as early as possible if you are looking to be awarded a scholarship, fellowship or assistantship. Contact academic departments and find out what is available and what is their award criteria.

For some of you this may cause some heart palpitations or severe headaches, but know what options are out there before you become a nervous wreck. Make sure your degree is worth you being in debt for a long while. Be confident and be prepared!

Happy Applying!!!

BlogShare – Personal Finance

Even as students, it’s the right time to develop good habits relating to your personal finances. There are many resources online that can guide you through. BBSN would like to share some beneficial personal finance blogs. Enjoy:

1. www.fabulousfinancials.com

“A 30-something single mom with a long term goal is to achieve a $1M+ net worth and live the Fabulous Life.”

2. www.budgetsaresexy.com

“it really wasn't until we purchased our first home that I realized I needed to get my finances in order. It was time to pay attention!”

3. www.iwillteachyoutoberich.com

“I Will Teach You To Be Rich is a community focused on personal finance and entrepreneurship for college students, recent college grads, and everyone else.”

4. www.bargaineering.com   

“a personal finance blog I started four years ago with the goal of educating both myself and others about the complicated topics in the personal finance world.”

5. www.freemoneyfinance.com

“This site is about one simple thing: growing your net worth.”

--Contributed by Yvette Philip, BBSN Founding Board Member - Treasurer

"Get On The Bus" - A Review of the Budget Bus Lines

With limited financial resources, traveling by air in first-class is out of reach for most college students. For this reason, we have become quite familiar with simply getting on the bus!

In this article "Get On The Bus", Noreen Malone describes her experience on the various discount bus lines... Fung Wah, Bolt, Mega, and Grey Hound.

Noreen says,

"The Fung Wah has a reliable schedule, departing from New York every hour from 7 a.m. to 11 p.m., with service on the half-hour during peak afternoon times. And if you really need to get out of town in an untraceable hurry, there's a 2 a.m. ride for a slightly higher premium."

Of Megabus, she says it, "supposedly offers Wi-Fi on its New York-based service, but there was no evidence of Internet use among my fellow riders, and the driver didn't mention it in his announcements. Perhaps it's an amenity mentioned only to the Harvard-bound clientele, not to us plebeians."

Bolt Bus received a rave review. "Riders can forget that they're traveling, since they can do virtually any activity they might while sitting at the desk where they spend their days. Of course, there are the same inherent discomforts as on any bus. It's always freezing onboard, it tends to be less than reliable in terms of punctuality and speed, and the pricing system is quite similar to that of Megabus (I got an $18 ticket two weeks in advance). Yet, on the strength of its Wi-Fi signal, Bolt is my top choice."

And Greyhound... "Greyhound, at least in the saturated New York market, seems to be catering to people who haven't figured out that there are cheaper options. But the upgraded bus—physically, the nicest one I took—was a sign that the ante has been upped and that Greyhound is adapting to compete."

Source: Slate Magazine "Get On The Bus"

~ contributed by Shaquanna P. BBSN Board Member, Fundraising Chair, Interim Public Relations Chair