Graduate School Funding

Answer 1

In the past, a bachelor's degree was practically a guarantee of a good job. However, in today's competitive job market companies are more demanding. This is why many students choose to continue their education by attending graduate school. Unfortunately, the expense of higher education only increases at the graduate level, while some previous sources, such as grants, are no longer available. However, there are still many sources of funding for graduate students.

Scholarships

Some graduate departments recognize the high cost of attending their school, and provide scholarships to those who qualify. These scholarships are sometimes related to a project the department is working on, either for the school or under outside contract. Departments also award scholarships to students with outstanding academic records, such as members of the honors society.

Paid Assistantships

Another way graduate departments can help students pay for graduate school is by providing paid assistantships. Graduate students with assistantships will be required to work a part time job at the university in exchange for their aid. This might be as a teaching assistant to a professor, or it might be work in a campus library or computer lab.

Tuition Waivers

Some departments have the funds to simply offer full tuition waivers for all accepted graduate students in their department. With the increasing costs of graduate school, full waivers are becoming less common, but are still occasionally available.

Off Campus Work

Many graduate students find the best way to pay for at least some of their expenses is to find a job near campus. While they are unlikely to find a single job to cover the entire expense, they can offset some of the costs this way. However, it is vital for a student to balance this job with class requirements.

Loans

Loans are another way to pay for graduate school. However, they should be used with caution. A student should avoid incurring a large debt on the assumption a high paying job will allow him quickly pay it back, since that job may not materialize.