Financial Aid for Graduate and Professional Schools

FINANCIAL AID FOR GRADUATE AND PROFESSIONAL SCHOOLS

Most graduate programs will offer some sort of financial aid, ranging from assistantships, fellowships and research positions to grants, loans and scholarships.  A careful exploration of all types of aid available to you could result in a decrease in your out-of-pocket costs.

In general, grants and scholarships do not have to be repaid.  You may be required to work in some capacity (teaching, research, administrative assistance) in return for assistantships and fellowships.  You will need to pay back any loans you receive.

Funds are available from federal and state governments, the college/university to which you apply, and from private foundations.  Searching for aid can be time consuming.  Here are some tips and resources to assist you in your search:

  • Learn what you can about the process.  Contact the financial aid office at your undergraduate school for general information, and at the schools to which you apply for program-specific resources.
  • Apply for aid as early in the process as you can. 
  • Submit a FAFSA form (Free Application for Federal Student Aid) even if you don’t think you would be eligible for federal aid.  You may need the form filed to apply for any aid.
  • Look for grants and fellowships from private institutions.  Financial assistance from these sources can be awarded on a wide variety of criteria, including (but not limited to) financial need, academic performance, gender, disabilities, race, religious affiliation, the state in which you are a resident, or membership in a club or association.
  • If you are employed, investigate financial aid from your employer.
  • Consider attending school part-time to spread out the cost.
  • Take prerequisite courses at a less expensive institution.
  • Join the military - they will finance some to all of your education in return for years of service.
  • Don’t absorb more debt than you feel you can handle.
  • Keep in touch with your financial aid office for any changes that may occur in your needs or the programs from which you are receiving aid.

Our career library also has the following resources:

Free Money for Graduate School
The Graduate Student’s Complete Scholarship Book
Peterson’s Guide to Grants for Graduate & Postdoctoral Study
Scholarships for Study in the USA and Canada
Scholarships, Grants and Prizes, Peterson’s 2006
Getting Money for Graduate School
Money-Winning Scholarship Essays and Interviews
Princeton Review’s Paying for Graduate School Without Going Broke
The College Board Scholarship Handbook
Fellowships and Assistantships Binder

Vermont Student Assistance Corporation (VSAC) information:
http://services.vsac.org/wps/wcm/connect/VSAC/vsac/pay+for+college

Other resources to assist you in your search for financial assistance for graduate study:
http://www.finaid.org/
http://www.academicinfo.net/studentaid.html

The following site features scholarships, grants, and fellowships to help students pay for undergraduate and graduate study or research outside of the United States.
http://www.studyabroadfunding.org/