Financing Graduate School
Resources: www.fafsa.ed.gov, http:www.finaid.org, & www.studentaid.ed.gov
If you are considering attending graduate school but do not feel you have sufficient resources to finance such an endeavor, don't give up! There is aid out there for graduate study.
There are basically three types of financial aid for graduate study: grants, loans - see below, and work. Federal and state governments, private foundations, and most significantly, universities themselves are all sources of graduate support. You should investigate all areas of graduate school funding and apply for all types of aid for which you may be eligible.
How and When to Apply
Because every institution has its own application process, as well as its own system for awarding aid, you should communicate directly with each school and, in some cases, with the academic department that interests you. You should also read the school's application, brochures, and catalogs for information about financial aid.
Application deadlines vary. Some schools suggest you apply for aid when applying for admission. Other schools want you to wait to be admitted before applying for aid. Aid application instructions and deadlines should be clearly stated in each school's application materials.
The process of applying for aid can be confusing and time consuming, especially to the first-time applicant. You can increase you chances of getting aid by doing the following:
1. Apply to as many sources as you can find.
2. Make sure you have all of the forms required by each institution. Many schools use a need analysis document such as the FAFSA
3. Complete all forms legibly and accurately. Check you applications; errors and omissions can cause delays.
4. Keep copies of all forms.
5. Follow up on your aid application if you receive no response within a reasonable period of time.
6. Apply for aid every year if you feel you need it. If you have special circumstances, communicate them directly to the financial aid officer both before and (if necessary) after the aid decision is made.
7. In investigating financial aid opportunities, be aware that programs may change from year to year. It is up to you to find out if any changes have occurred.