Financial aid is available for graduate school, although competition for the various forms of aid for graduate study is often greater than you may have experienced in your undergraduate program. The most common forms of aid are fellowships, assistantships, grants, and loans.
An aid package may consist of a combination of these funding sources:
| Fellowships | Fellowships cover living expenses and often tuition in return for research or work on a project. Fellowships may be single- or multi-year awards and are usually based on an individual’s merit as measured by grades, GRE scores, publications, and letters of recommendation. |
| Assistantships | Assistantships are campus-affiliated work assignments that provide a stipend and often waive tuition and/or other matriculation fees for a designated number of work hours. Talk with administrators of your individual program about the availability of assistantships with your department. Other general assistantships may be available elsewhere on campus, often within student services units, and may or may not relate to your field of study. |
| Grants | Grants are awarded to cover expenses associated with carrying out research or other specific projects, such as expenses for travel, materials, or computers. |
| Loans | Loans are available from the government and from private sources. These are very similar to those you may have applied for during your undergraduate program. |
| Scholarships | Many colleges and academic departments may offer scholarships. Scholarship opportunities typically have qualifications. Check with financial aid or the department for more information. |
| Tuition Assistance or Reimbursement | Some employers offer opportunities for you to continue your graduate education. Tuition assistance is money the employer pays for your tuition as long as you meet certain qualifications. Tuition reimbursement requires that you invest in your education upfront, and the employer will give you money back after you completed a specified amount of time. |
| Funding for Underrepresented Populations | Some institutions offer application-fee waivers and other forms of funding in order to help diversify their student body. Outside scholarships and specialized funding may also be available. If you are part of an underrepresented group, research any special funding options within your chosen program and other outside sources. |
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Additional resources
Here’s a list of Dr. Don Asher’s top resources on how you can save money when attending graduate school: |
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