Funding for Graduate School

Funding for Graduate SchoolThese days, the most rewarding job opportunities are available to those who have completed some studies at a graduate level. However, graduate school is much more expensive than undergraduate school and a lot of students may not be able to pursue a graduate program because of the high cost. What most students do not know is how to fund graduate school. There is a variety of loans, grants and scholarships that can provide you with funding for graduate school.

There are various assistantships and scholarships that are available for students who want to enroll in a graduate program. These funds may provide students with money for tuition and some may even cover related expenses like study materials and accommodations. The best thing about these funds is that you do not have to pay back the award money, which is why students are encouraged to pursue before trying to obtain other graduate school funding options.
Federal student loans make another great financing option for graduate school. Students may benefit from a variety of loan programs such as the Perkins and Stafford loans, which are granted on the basis of need. In addition, students can take advantage of GradPLUS loans, which are not need-based.
Students may also use private student loans, which make an excellent source of funding for graduate school and are particularly helpful in bridging the gap between the actual financial needs of students and the awards that they may have obtained in other forms. However, compared to federal student loans, private loans usually have higher rates of interests and other terms and conditions may vary from lender to lender.

How to Find the Best Funding Option

graduate school fundingTo find the best funding option for graduate school, you should explore all of your choices including scholarships, grants, loans and even your personal assets and savings. When considering a loan, choose one that is most convenient for you to pay back and one that has a low rate of interest. Our Loan Comparison Tool will help you compare the different loan options you have, helping you choose the one that suits you best.

 

Types of Student Loans