SCHOLARSHIPS FOR GRADUATE STUDENTS

Having an undergraduate degree brings many opportunities for professional growth. It is an excellent choice for students who want to get a general education with some specialization in their desired field of study.

But, some people want to further their education in their current area of study or explore a new area of study. That is why they may choose to get a graduate degree — among many other reasons.

A full-time graduate degree may open many new doors for you. It is a chance for you to expand your network to like-minded professionals such as you and jump up on a specific career ladder. Graduate school may also improve your analytical and creative skills and improve your earning potential. On average, graduate degree holders earn an annual salary of $77,844, instead of those who hold a bachelor’s degree that earn on average $64,896.

The increase in your annual salary depends on your area of study and the demand for that profession. Still, in general, you may have higher chances of getting promoted at your current job or getting a better working position in your next job with a grad degree.

But, graduate school is not a cheap investment. That is why many students look for potential scholarships for graduate students. In this article, we will go through scholarships for graduate students and how to get them.

 

How much does a graduate degree cost?

Going to grad school may have an impact on your financial well-being. On average, a full-time graduate degree may cost from $30,000 to $120,000, depending on your area of study and the university you choose. For example, the average cost of an MBA degree is $40,000, but it may exceed $120,000 if you choose to attend a highly competitive school like Harvard or Stanford University.

If you recently graduated with a bachelor’s degree, you may even have other student loan costs to consider on top of graduate school costs. That is why getting scholarships for graduate students is something you should definitely consider to cover your financial needs.

 

What types of scholarships for graduate students can you get?

When you begin looking for graduate school scholarships, you’ll find many types of financial aid available. These types of scholarships depend on your preferences, current financial need, and academic situation. In general, there are five types of grad school scholarships, which we have explained in more detail below.

Need-based Scholarships

Graduate students who are in financial need may benefit from need-based scholarships. This is similar to financial aid that you can get for your undergraduate degree. Students would have to provide proper documentation and proof of their financial need to qualify for this type of scholarship.

Merit-based Scholarships

Academically gifted students should consider merit-based scholarships. These types of scholarships for graduate students favor students who have done well in their undergraduate studies or during their first year of graduate school in a two-year full-time graduate program. To qualify for a merit-based scholarship, you should have proof of your academic performance, such as records of your grades and recommendation letters from professors or employers.

Grants

Universities, professional associations, or other organizations sometimes award grants to graduate students. These are often related to a specific field of study and are given to full-time graduate students who demonstrate financial need. Grants are similar to other types of scholarships for graduate students because students do not need to return any awarded free money.

Fellowships

When you have a specific research idea that you want to explore during your graduate students, you can apply for different fellowships. Fellowships are designed to provide students with an incentive to innovate in their desired area of study. To apply for fellowships, you need to write a research proposal explaining your idea, your proposed research method, and what you hope to achieve through it.

 

Where to find graduate school scholarships?

Once you have decided that you want to get a graduate degree and pay for it through scholarships for graduate students, you might be wondering where to find these scholarships. There are a few places that you can research, as we’ve outlined here.

Organizations within your field of specialization

Many professional associations in the United States and elsewhere want to attract new members with specialized skills. These organizations may also offer partial or full coverage of your full-time graduate school experience through graduate school scholarships. The support might be in the form of financial aid, grants, or fellowships and usually does not require you to pay anything back.

Look for these organizations based on your field of study. If you are studying architecture, for example, research different local and national associations that provide graduate school scholarships for aspiring full-time graduate students in the architecture field.

Your undergraduate college or university

Your alma mater may usually provide graduate degrees at better rates or offer additional financial aid. Since that is the university or college that you spent four years getting an undergraduate degree, the staff and departments may have some form of preferential treatment when you continue your graduate education there.

Simply contact the graduate admissions office or alumni association and inquire about scholarships for graduate students. They will be able to inform you of financial aid and other types of support they provide.

The prospective graduate school

When you start looking for graduate school scholarships, you already have a few grad schools that you want to attend in mind. You should research these graduate schools and their financial aid and scholarship opportunities. You may compare different schools in terms of their programs and quality of education, but you should also look for affordability and opportunities for graduate school scholarships. Consider contacting the school’s admissions offices to get further information on how they help grad students pay their way.

Your employer

If you are a professional who is currently employed, research the company you work with for professional development opportunities and graduate school scholarships. Some companies offer their employees financial support if they choose to further their education, with the condition that they remain at the company once they graduate. Talk to your manager or the human resources department to determine if such a scholarship program exists in your company and how you can apply.

Online search

Many other third-party organizations or funds are dedicated to helping a graduate student in the United States obtain their degree. Conduct an online search for scholarships for graduate students, and you can find different options and start applying for financial support.

 

Fund the career of your dreams with scholarships found on CollegeData

Graduate school is an excellent way to improve your skills, knowledge, and earning potential. In some cases, those who have graduate degrees may have the opportunity to earn more than those with undergraduate degrees and may have better chances of being promoted. But, since graduate school is quite expensive, you may want to look for scholarships for graduate students at different organizations and full-time universities. Consider starting your search for grad school scholarships today by using CollegeData's Scholarship Finder.

 

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