If you’re wondering how to pay for your graduate degree, you may be interested in learning how masters degree scholarships and financial aid for masters degree candidates could potentially help you afford school. Fortunately, students may have a lot of resources when it comes to planning and funding their educational goals. Because a masters degree may be a sought-after credential for certain career paths, students pursuing further education and professional development may be able to seek assistance from their employers. Masters degree grants may also be available to qualified individuals to support research in specific fields of study. The key is to be aware of the many funding opportunities that may be out there for qualified applicants.
Students looking for masters degree scholarships can check out online resources such as the U.S. Department of Labor’s scholarship search tool, careerinfonet.org, which allows you to search by key word. You may also wish to check with your prospective graduate school to see if they can recommend funding opportunities, particularly in your intended field of study.
You can also visit studentaid.ed.gov to see if you’re eligible for programs such as the William D. Ford Federal Direct Loan, the Federal Perkins loan or the Federal Work Study program. Many states may also offer assistance to graduate students, so check out ed.gov/sgt for more information.
Online scholarship searches can sometimes be useful, but it is important to make sure you are visiting reputable websites (ideally you want these to be official associations or government websites)
If you plan to apply for masters degree grants and scholarships, you should be prepared with certain credentials, including your undergraduate transcript and your GMAT score. GMAT stands for Graduate Management Admission Test, and high scores in this exam may qualify you for financial aid for a masters degree from your prospective graduate school if you are eligible. Other funding may be awarded based on criteria such as military service, intended career path/field of study, or particular research goals. Depending on the requirements of the scholarship or grant, you may be asked to submit a research paper, essay, portfolio of work, letters of recommendation, or proof that you meet particular criteria.
Not sure how to pay for a masters degree? Check out some examples of masters degree scholarships and grants for different types of qualified graduate students below.