Table of Contents:
Introduction
1. Understanding the Costs
2. Apply for Federal Student Aid (FAFSA)
3. I Will Be a Master's Student: What's Next?
4. I Will Be a PhD Student: What's Next?
5. Final Tips
Conclusion
Introduction
As you may have understood from the title, this article won’t simply be a guide to help you understand how to pay for grad school in the US. Indeed, by showing you some of the funding opportunities available, I also hope to motivate you in applying for your dream degree and embark on the incredibly rewarding experience of attending grad school in the US. Personally, I am paying for my undergraduate studies in the Netherlands through a scholarship from the Fondazione Paolo and Carolina Zani, and I plan to apply for other grants to fund future degrees and experiences. For all these reasons, I know how financing one’s education can be a challenge, but at the same time I encourage you to keep reading and discover how you can make this journey easier and rewarding by finding the scholarship that is right for you. Let’s begin!
1. Understanding the Costs
The very first step before thinking about scholarships and grants is to understand what are the costs associated with graduate school and more specifically with the program you want to apply for. Indeed, the amount of tuition fees you will need to pay can vary significantly depending on the institution and faculty you are interested in. Also, do not forget to have a clear estimate of the costs of accommodation, books, and other everyday life expenses you will need to take care of. If you are an international student , you will likely need to consider the cost of obtaining a visa and of your health insurance plan.
2. Apply for Federal Student Aid (FAFSA)
The first step to begin your financial planning is to complete the Free Application for Federal Student Aid (FAFSA), which takes into consideration your financial situation, your family’s income, as well as other factors. Although the support that is offered through this system is often directed to US citizens only, you should fill in the form even if you are an international student and email it to your graduate school. Indeed, many universities will need it to determine whether you are eligible for aid offered within the institution you are applying to.
3. I Will Be a Master's Student: What’s Next?
Master's students often finance their studies in two ways. The first strategy is to look for scholarships and grants that are provided by the university you are applying for. More specifically, this aid may come in the form of scholarships, grants, fellowships, and research or teaching assistantships.
The second way of funding your degree is to think about external scholarships. These are offered by a wide range of companies, foundations and organizations. Also, they usually select applicants based on their specific interest in a certain subject, which aligns with the values and mission of the provider. Some of these prestigious opportunities are the Fulbright Program, the National Science Foundation Graduate Research Fellowship, and the Ford Foundation Fellowship Program.
4. I Will Be a PhD Student: What’s Next?
After viewing what are the options for Master's students, let’s discover how you will be able to fund your PhD in the US. First of all, many universities guarantee aid to their PhD students. This often includes a monthly stipend, help for paying health insurance, as well the possibility to join research and teaching assistantship programs. Parallel to this already significant source of aid, PhD can apply to external scholarships as well as additional grants offered within their university.
5. Final Tips
We have nearly reached the end of this article, but before jumping to the conclusion I would like to share some final tips that you can take into account:
The power of online scholarship databases: never underestimate the power of websites such as Scholarships.com and Peterson's Scholarship. They allow students to filter scholarships and funding options based on specific criterias such as nationality, ethnicity, subject of interest and more.
Try essay competitions and contests: winning a prize for an essay you have written, a science project you have contributed to, or a poem you composed does not only add value to your CV. Indeed, these competitions often prize students with monetary awards.
Catch every opportunity on time: remember to allocate enough preparation to your scholarship applications and to select as many awards as possible. Applying widely and early is key to success.
Conclusion
In this article we have discussed the main steps and tips to help you financing grad school through scholarships and grants. Ideally, you should start by understanding your estimated costs and by consulting the FAFSA portal. Once this information is clear, start digging deep into every opportunity you find, checking requirements and deadlines.
My final message is that by being proactive and persistent, you can really make your graduate education more affordable. Even if this may sound like a very simple piece of advice, I truly believe that determination is what allowed me to succeed in my journey until now. I hope you have found this article inspiring and most importantly that it will help you in funding your graduate school dream. Good luck!
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