How to Afford Grad School

Financial Aid

Tax Credits

Did you know that tax breaks for college students and their families offer significant financial incentives?

The Lifetime Learning Credit covers qualified tuition and related expenses paid for eligible students enrolled in undergraduate, graduate, and professional degree programs.

To be eligible, you must have paid qualified education expenses for college, be enrolled in an accredited program, and include that on your tax return.

Employee Programs

Sometimes called tuition reimbursement, many employers offer incentives and financial assistance for employees who are attending classes.

Here’s how it works: tuition reimbursement is an arrangement between an employer and employee in which an employer will cover a certain percentage—or sometimes all—of an employee’s tuition for earning a degree. Talk to your employer today to ask about your options!

Graduate Assistantships

With graduate assistantships, you’ll have the opportunity to get valuable, hands-on experience through your program. You’ll be assigned to work a set number of hours each week, and your tasks and responsibilities will vary depending on the department or faculty member who oversees the position. In exchange, you may earn a tuition waiver or even a salary or monthly stipend.

On top of that, graduate assistantships are a fantastic way to work closely with faculty members and university leaders who will provide job references, help you network, and be your advocate as you open new doors to your future.

Student Loans

Direct Unsubsidized Loans

With direct unsubsidized loans, your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive. Unlike many other loans, they do not require you to demonstrate financial need.

Even better, you can borrow the full cost of tuition, up to $20,500 per year. Read more about the eligibility requirements.

GradPLUS Loans

GradPLUS loans typically offer more benefits than private loans, such as income-driven repayment and student loan forgiveness programs. This level of flexibility can make graduate PLUS loans a very attractive choice for students like you.

Private Loans

Even with federal aid, scholarships, and your own personal investment, sometimes you need additional options to make it work. In that case, private loans can be a great solution. These student-friendly loans have lower interest rates and payback options that are designed to be manageable for working graduate students.

To get a better idea of your financing options, check out the FAFSA website or schedule an appointment with an adviser who can help you navigate the process.