Thinking about grad school? What are my options to get it "paid" for?
Tuesday, September 22, 2009 at 06:26PM 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!!!
