Types of Aid Available
Grants and Fellowships
Most grants and fellowships are outright awards that require no service in return. Often they provide the cost of tuition and fees plus a stipend to cover living expenses. Some are based exclusively on financial need, some exclusively on academic merit, and some on a combination of need and merit.
Federal Support
Several federal agencies fund fellowship and traineeship programs for graduate and professional students. These agencies include the National Institutes of Health, National Science Foundation, National Aeronautics and Space Administration, U.S. Office of Naval Research, U.S. Information Agency, and U.S. Departments of Agriculture, Education, and Energy. The amounts and types of assistance offered through federally funded fellowships vary considerably by program. Federal Work Study funds may also be available to graduate students.
State Support
Over half of the states offer some form of support for graduate study. To qualify for a particular state's aid, you must be a resident of that state. Residency is established in most states after you or your parents (if you are still their dependent) have lived there for at least twelve consecutive months prior to enrolling in school. Many states provide in-state aid only, funds that are not transferable out of state. You should contact your state scholarship office directly to determine what aid it offers.
Institutional Aid
Educational institutions using their own funds provide between $1 billion and $3 billion in graduate assistance in the form of fellowships, tuition waivers and assistantships. Consult each school's Web site for information about its aid programs. In the graduate programs in the arts and sciences, much of the funding is awarded on the basis of merit. At the professional schools (law, medicine, business, etc.), much of the aid is need-based.
Work Programs
Certain types of support, such as teaching, research and administrative assistantships, require recipients to perform a service for the university in exchange for a salary or stipend; sometimes tuition is also provided or waived. For example, resident assistantships involve living in an undergraduate dormitory in exchange for free or partially funded room and board. Assistantship responsibilities vary from school to school and from department to department.
Teaching Assistantships
If you pursue an advanced degree in a subject that is also offered on the undergraduate level, you may have a good chance of securing a teaching assistantship. Such a position may involve delivering lectures, correcting class work, grading papers, counseling students, and supervising laboratory groups; usually about 20 hours of work each week is required.
Teaching assistantships provide excellent educational experience as well as financial aid. You will generally receive a salary (now considered taxable income). Sometimes tuition is provided or waived as well. Appointments are based on academic qualifications and are subject to the availability of funds within a department. If you are interested, you should contact the department member who appoints teaching assistants. Ordinarily you are not considered for such positions until you have been admitted to the graduate school.
Research Assistantships
Research assistantships usually require that you assist in the research activities of a faculty member. Appointments are ordinarily made for the academic year. They are rarely offered to first-year students. You should contact the academic department, describing your particular research interests. As is the case with teaching assistantships, research assistantships provide excellent academic training as well as practical experience and financial support.
Administrative Internships
These positions usually require 10 to 20 hours of work each week in an administrative office of the university. Some assistantships provide a tuition waiver, others a salary. Again, contact the department directly to find these positions.
Loans
Loans, an important source of support for graduate students, should be approached carefully. You should consult with the financial aid officer of the school you wish to attend before applying for a loan. You can then borrow only what you really need once the school has made its aid offer. You should submit your application several months before you need the loan. It could take from 8 to 12 weeks for your application to be processed. If you have already received a loan from one lender, try to borrow again from the same lender to avoid repayments to multiple lenders. If you have questions, you should contact your financial aid officer, the lender, or the loan guarantee agency that serves your state.
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Stafford Student Loans
The Stafford Student Loan Program is available to graduate and professional students who are citizens or permanent residents of the United States and who are enrolled at least half-time in a degree or certificate program and are making satisfactory academic progress. To qualify, you must demonstrate financial need as determined by the school's Financial Aid Office.
Perkins Loans
The Perkins Loan Program is a long-term loan program with very low interest available for graduate students who demonstrate financial need. It is administered directly by the schools, with 90% of the money coming from the federal government and 10% form the school. Not all schools have these funds.
Additional Help
• Career library guides to graduate schools and other books on graduate school issues
• Mock interview to prepare for "the real thing." Available by calling the Career Services office at ext. 4260.