You turned in your applications, received good test scores, and were accepted to graduate school. Congratulations – now how on earth are you going to pay for it? It’s the same old question you faced in college, but now you are more definitely on your own in the real world with a job, rent, bills, and possibly even loans left over from your undergraduate studies to think about. So let’s take a realistic look at the best way to finance this next big step in furthering your future.

Grants and Work Studies

These sources do not have to be paid back, so at the end of your graduate work you would have less money that you owe and, therefore, more of what you make can go into your bank account. You should be aware that many grants are contingent upon you taking a certain amount of hours a semester and maintaining a certain grade point average, so you might end up putting in more time than normal outside class ensuring that a slip in grades does not cost you your financial aid. Also, a work-study can be something like a part time job, and if you work already you could feel yourself a bit pressed for time. The advantage is that you should be able to study while things are not too busy at this job, and it is time in your day automatically set aside for studying.

Student Loans

After exhausting those options, many graduate students still do not have their expenses covered and need to look into graduate student loans. That is an avenue with many different options – so many that it can get a bit confusing. Check out our review of student loans, both government and private that apply to students at all levels.

Start Your Engines

Okay, now we have covered the high points, where do you start? The best place is with filling out a FAFSA form. You can print them off of the website www.fafsa.ed.gov , and each state’s application deadlines are posted on that website also. This should help you to find out what kinds and how much aid you qualify for, and then you can start working from there. As much as the government wants to help, there are a lot of us out there and many of us do not get the help we deserve through these channels, so we gather the information ourselves and we find a way to pay for our education.