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Graduate School Loans
You've made it through one degree: congratulations! But how are you going to fund another degree? Graduate school tuition is often much higher than undergraduate tuition. Consider different options for your funding.
Graduate students can apply for a range of scholarships and grants to fund their further education. Many colleges and universities offer specific graduate funding. Speak to your department's Director of Graduate Studies, your school's Office of Student Awards, and your school's Graduate Studies Department (these are going to be three separate people often in three separate buildings). They can help you find ways to fund your education.
Graduate students are much more employable on campus. There are many jobs that you can do, such as Research Assistant, Teaching Assistant, or Grading Assistant. These positions will not only earn you extra money but also look great on your CV later on.
Even with your savings, your part-time job, and your scholarships, you might not be able to make ends meet. Then you should consider a specific graduate loan. If you are in Law, an MBA, medicine, or another professionalized program, you will find that of the loans discussed below, you are often offered one tailored specifically to your needs in that program, such as the MBA Stafford Loan, a MEDLOAN, or GHELP Stafford Loans.
The American government offers a Federal Graduate Plus loan. This loan is fixed at an 8.5% interest rate, though you might be able to get it down to as low as 7% at varying financial institutions. As with all federal loans, you will have to complete a FAFSA : a Free Application for Federal Student Aid.
As a graduate student, you can also qualify for a Stafford loan from the American government. For graduate students, the Stafford loan has a maximum annual value of $18,500. It is the most common school loan, because it is fixed-rate and low-interest.
Graduate students can also get bank loans and alternative loans to help pay for the costs of graduate school.
s a graduate student, you might have other student loans from your undergraduate degree. Consider consolidating your loans to save you money.
