One of the biggest misconceptions about student debt is that it primarily affects college students. The reality is that graduate student debt is growing even faster. Fortunately, there are several scholarships for graduate students! Whether you’re a master’s or PHD student, you can get funds to pay for your college education (and also eliminate your student debt). Read on to learn more about paying for higher education with scholarships and financial aid!
Best Scholarships for Graduate Students in 2022
Eligibility: High school, community, college, and graduate students
Deadline: March 31, 2022
Eligibility: Open to college graduates who are paying off their student loan debt. Parents who have taken out a student loan for their graduated children are eligible also!
Deadline: February 28, 2022
Eligibility: All high school and college students, and anyone planning to enter college or graduate school next year
Deadline: February 28, 2022
Eligibility: Open to all college and high school students
Deadline: February 28, 2022
Eligibility: Open to college-level students who are at least 18 years old
Deadline: February 28, 2022
Eligibility: Open to all high school, community, college, and graduate students
Deadline: February 28, 2022
Eligibility: High school and college students
Deadline: February 15, 2022
Eligibility: Hispanic/Latino, Native American or female undergraduate MBA students pursuing an Associate position at Goldman Sachs in summer 2022
Deadline: March 28, 2022
Amount: Scholarship recipients will receive a $35,000 stipend in addition to summer staff salary. Upon successful completion of the summer internship and acceptance of a full-time offer, grantees will receive an additional $40,000, plus any full-time staff signing bonuses, if applicable.
Eligibility: High school students who wish to enroll as full-time students and current college or graduates students at US universities and colleges.
Deadline: April 1, 2022
Amount: Prizes of $500, $1,000, $2,500, and $6,000 will be awarded, with each winner receiving a personalized frame!
Eligibility: High school senior students accepted as US undergraduate and graduate students with an interest in photography
Deadline: May 1, 2022
Eligibility: Open to prospective or current nurses to help with tuition or student loans.
Deadline: May 16, 2022
Eligibility: High school, college, community college, or graduate students who write an essay on cyberbullying
Deadline: June 30, 2022
Eligibility: High school seniors, college students, and graduate students interested in a career in fitness, wellness, or health
Deadline: August 1, 2022
Funding Sources for Graduate School
Graduate students generally pay for their education with a few different funding sources. The most well-known sources are private scholarships, need-based grants and financial aid, and college-specific grants.
Private Graduate School Scholarships
There are excellent private organizations that offer scholarships for students pursuing their doctoral or masters studies! These scholarships support graduate students from all walks of life, including business school students, law students, medical students, master’s students, as well as doctoral students!
Need-Based Financial Aid for Graduate Studies
Another important way to fund your education is through need-based financial aid. For graduate schools, need-based aid can include both student loans (which have to be repaid) and grants (which do not have to be repaid).
For need-based graduate financial aid, students must submit the FAFSA (Free Application for Federal Student Aid). This allows graduate students to be considered for both federal student loans and need-based grants. Some colleges may also require additional forms. Therefore, always check with your specific graduate program for details on their financial aid procedures.
Some colleges may also require students to submit the CSS Profile, which is a financial aid application administered by the College Board. Students can access their university’s institutional funding through the CSS profile.
University Specific Merit Scholarships
Some graduate schools also offer college-specific scholarship opportunities. You should check with the graduate programs to which you are applying for more information on scholarship opportunities for which you may qualify for.
Some graduate students may be eligible for scholarships or assistantships that allow them to gain valuable experience and also receive funds to support their graduate studies.
Graduate Scholarship FAQs
Is Graduate School Worth it?
Due to cost, students considering graduate school should think carefully before committing to it. First, students should ask themselves: “Is it necessary to go to graduate school or is it worth it for me?”
Assessing return on investment (ROI) is a very important part of the graduate school search and selection process. In certain instances, it’s better for students to go to the more expensive graduate school when the salary is higher. Average starting salaries and employment statistics are important metrics when comparing different doctoral and masters programs. But be sure you don’t borrow more from the student loan than you can afford to repay.
As for the need for graduate education, find out if your aspirations require it. If you want to become a professor, lawyer, or doctor, a graduate degree is required. If your ambitions aren’t clear or you’re interested in a field that doesn’t necessarily require a master’s or doctoral degree, you may want to postpone your graduate studies. For several students, work experience is more valuable than a graduate degree.
How Do I Get a Full Trip to Graduate School?
There are several routes to get a full trip to graduate school. Some students hold a job for a few years after obtaining their baccalaureate. Their job could provide them with graduate school tuition reimbursement, which could end up being quite the journey. Since employers typically prefer to promote from within rather than hire from outside, this can be a mutually beneficial option.
Another way to find a full trip to graduate school is through graduate internships. These do not usually offer a full trip, but some students with particularly impressive performance may be given one. Also, you can search for merit-based grants on a private or institutional level. Be sure to check what options your prospective university offers for full courses.
Does FAFSA Pay for Graduate School?
You will complete the FAFSA to apply for graduate school financial aid. Your school will use this information to determine your need-based financial aid. However, FAFSA does not qualify you for the same federal aid opportunities as a college student. For example, graduate students cannot receive Pell Grants. However, they can take out federal loans.
Can I Get Scholarships for my Master’s Degree?
You can definitely find scholarships for master’s program! There are several ways to find these opportunities. Many specialized private scholarships are open to college and graduate students. Another option is to search for scholarships from your institution. Find out more about this on the homepage of your institution and at your aid office. They may specifically offer scholarships for students accepting graduate assistantships.
When Can I Apply for Postgraduate Scholarships?
It is never too early to apply for Postgraduate Scholarships! If you plan to move directly from an undergraduate program to a graduate program, you should apply at the beginning of your senior year. Each scholarship has its own deadline. To maximize your potential opportunities, it is best to start early and look out for new opportunities as they arise.
Do Graduate Students Receive Pell Grants?
As mentioned earlier, graduate students are not eligible to receive Pell grants. However, you still need to exit FAFSA to apply for need-based institutional aid. Also, they are eligible for federal student loans. To make up for the lack of Pell grants, it is a smart idea to look for other financial aid opportunities, such as graduate fellowships and assistantships.
How to Pay for Graduate School
Paying for graduate school has some key differences from paying for college. Here are some tips on how to use all forms of financial aid:
Find Fellowships and Scholarships at Your School
Check your school’s website and contact the Financial Aid Office for more information on fellowships and scholarships. They may refer you to institutional opportunities or, since they are experts in the field, be aware of specific opportunities that match your demographics or interests. You can’t go wrong if you seek advice from the Financial Aid Office.
Apply for Scholarships Early and Often
Remember that it is never too early or too late to apply for a scholarship. Every opportunity has a different time frame, so you should look for opportunities regularly. An online scholarship finder is a great way to keep up to date with the latest opportunities. It will match you with approved scholarships, which will be automatically updated as deadlines pass and new scholarships are open.
Proofread your Application Essays
Essays are among the best ways to stand out from the crowd in a scholarship application! Check out our guides on writing about yourself, writing a 250-word essay, and writing a 500-word essay. We also have a guide on how to write a successful scholarship essay. Even if you’re a confident writer, it’s a good idea to check out these guides. Scholarship essays are written with a different intent than the essays you write in school.
Ask your Employer About Tuition Reimbursement
More and more employers are offering tuition reimbursement. With the reimbursement of tuition fees, your employer contributes to the financing of your higher education. Since employers typically prefer to hire internally rather than hire new employees, this works for both employee and employer.
Some employers only offer continuing education opportunities to advance your career at their company. But others, like Amazon, Chipotle, or Starbucks, let you pursue different fields of study that you can use to get hired elsewhere.
Consider Cheap Options Online
Online educational programs are increasingly becoming popular, especially in the wake of the pandemic. You can find many reputable online graduate programs through Coursera. Schools offer a wide range of programs through Coursera, including iMBAs. Also, there are many scholarships specifically for online students.
Consider Certification Programs as an Alternative
For some students, graduate school may not be a financial option at this time. But there are still opportunities to advance your career through continuing education. College alternatives such as coding boot camps and certificate programs can increase your earning potential with much less investment of time and money.
Upcoming Graduate Scholarships
Adobe Research Fellowship for Women in Technology
Eligibility: Open to female undergraduate and graduate students studying machine learning/artificial intelligence, computer science, data science, or web/mobile development at universities in North America, including Mexico and Canada.
Eligibility: Graduate students majoring in Business Management/Administration
PEO International Peace Fellowship
Eligibility: Applicants must be qualified for full-time admission and graduate degrees from an accredited college or university in Canada or the United States.
Taco Bell Live Mas Scholarship
Eligibility: Open to students ages 16-26 who submit a video about their life’s passion
Amount: $5,000-$25,000 per year