How To Get Financial Aid For Graduate School

Q: How does someone get financial aid for graduate school? Is the process similar to undergraduate financial aid, or are there additional steps?

A: Obtaining financial aid for graduate school is similar to obtaining financial aid for undergraduate school, however graduate students may have more options available to them, and depending on what they are attending graduate school for (i.e. business, law and medical school) there may even be additional financial aid programs and opportunities available to them that are not available to undergraduate students.

The best source for financial aid for college (regardless of graduate or undergraduate school) is going to be scholarships and/or grants. Students should always exhaust all of their scholarship and grant opportunities, as this is money for college that will not have to be repaid. Often, grad students can find specific grants and/or scholarships available to grad students only, or available to grad students in a particular field of study.

As with undergrad students, graduate students should also apply for FAFSA. FAFSA may provide graduate students with low interest federal student loans, and grants for college. In addition to the federal student loan programs offered to both graduate students and undergraduate students, graduate students can also take advantage of the Grad PLUS loan to help cover education expenses. To learn more about Grad PLUS Loans view: Grad PLUS Loan Requirements.