Paying for Graduate School: It Doesn't Have to Be Difficult

Today it is difficult to make ends-meat, especially when you do not have a college education, or the right college education. In order to solve this problem many adults, including me, have gone back to school in order to earn an advance degree. For me it was the chance to finally earn my PhD, however, for others the goal may simply to earn a bachelors degree in order to get a promotion at work or to change careers. The biggest obstacle that keeps adults from returning to college is the cost which can be as expensive as $1,000+ per semester credit. While college degrees are not cheap, they are affordable if you know how to find the right sources of money.

FAFSA (Free Application for Federal Student Aid

The first place that any adult who wants to return to school has to go to, is the FAFSA website operated by the federal government. Here you can fill out your FAFSA form, which is the first step for applying for financial aid. To complete this form you will need to set up an account, you will need last year's tax information and you will need about a half hour, if this is your first time filling one out. Once completed this form will be used to determine what federal financial aid you qualify for including grants you do not have to pay back and student loans, which you do have to pay back.

Scholarships

While federal financial aid will most likely make up the bulk of your college education financial package, you can supplement this money with scholarship funds. There are hundreds of scholarships that are offered by the government, by non-profit organizations, by colleges, by professional organizations and by private organizations. Undergraduate scholarships are usually based upon grade point averages (GPAs), financial needs and upon essays written, while graduate scholarships are usually based upon financial need, affiliations and degree programs.

When you search for a scholarship you have a number of options. The first option is to take advantage of any scholarship programs offered by your school. Some colleges offer their students scholarships to cover the cost of books and supplies; however, you have to apply for the program in order to get the money.

The second option is to target scholarships that are specifically for the degree program that you are pursuing. For example, if you are a law student then you will want to look for law student scholarships, while if you are a nursing student you will want to look for nursing student or health care scholarships. Remember to read the instructions carefully for each scholarship, as most industry specific scholarship has very specific qualification requirements that often relate to residency, student status, GPAs and financial need.

References

http://www.fafsa.ed.gov/