About Graduate Degrees
A graduate degree translates into a better-paying career, quick promotions and advancement up the corporate ladder. However, obtaining a graduate degree is not all about better positions or more money; a graduate degree is a great way to gain highly specialized knowledge and expertise in a particular area. In order to keep in line with the demands of today’s increasingly competitive job market, more and more people are turning to graduate programs. On the other hand, the cost of graduate school continues to rise and as a result, many graduate students look for alternative ways to fund their education. In addition to institutional awards and private scholarships, funding for graduate school is available through government-sponsored grants, student loans and work-study programs.
How to Fund Graduate School
Most graduate students prefer scholarships and grants over other types of aid because they do not have to be repaid. In other words, scholarships and grants are “gifts” of money that students can use to pay for tuition and other education-related expenses. Another funding option for graduate students is an assistantship. Assistantship programs allow students to work an academic-related position on campus, which may include working as teaching or research assistant under the supervision of a professor, allowing them to gain valuable professional experience while studying.
Graduate students may also use government-sponsored student loans to fund their education. Notably, these loans may be borrowed at low rates of interest and they come with easy repayment terms. The application process for student loans involves filling out the Free Application for Federal Student Aid-the FAFSA-which is available online at fafsa.ed.gov.
Alternative Financing Options
Scholarships and grants are usually quite limited in number and government-sponsored loans are rarely enough to cover all of your educational expenses, which is where private loans come in. Private loans have flexible borrowing limits and are usually processed almost instantly. Simply use the free student loan comparison tool on our website to view and compare the available options and to select the one that best matches your particular needs.
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