If you would like personalized assistance, please contact the CDC for an individual appointment, or stop by during drop-in hours Monday through Friday between 2 P.M. and 4 P.M.
|
|
Financing: Financing and Funding Overview
It is important to investigate the variety of options available for financing graduate education! The types and amounts of funding available are often based on financial need and/or merit. Tips for funding graduate education, as well as several forms of graduate education funding are described below.
Tips for Funding Graduate Education
- Apply early!!!!
- Research financial assistance options early! Talk to professors as well as checking with the Financial Aid Office, and Graduate Assistant Office. Also ask to talk to students.
- Determine requirements, procedures, and deadlines for assistantships and work study.
- Find out what forms are needed. The GAPSFAS or FAFSA are frequently required.
- Consider the advantages, disadvantages, and need to work during graduate school.
- If you are unable to obtain an assistantship or work-study position, consider other work using your job search skills. Counselors in the Career Development Office will be glad to help as you plan a job search.
Some Types of Graduate Education Funding
School Assistance
- Assistantships -
Students may choose to apply for graduate assistantships. Assistantships may be for different percentages of time, and may provide tuition waivers and health insurance. Several types of assistantships exist. Teaching Assistants (T.A.) may present lectures, grade papers and exams, tutor students or provide other course related assistance. Research Assistants (R.A.) work with professors on their research. Administrative Fellows work at administrative offices such as academic advising, or admissions. Residential Assistants work in university housing. The number of these positions is limited, and Ph.D. candidates may have preference.
- Departmental Fellowships/Scholarships -
The departmental chair, not the financial aid office, controls these. Fellowships and scholarships may or may not require the student to work in return for this source of funding. Fellowships pay a stipend and may include tuition and health coverage. Be sure to research fellowships connected with graduate schools and departments as well as external sources such as private foundations, special interest groups, professional associations, and the government.
Government Assistance
- e-Scholar - The Office of Personnel Manamgent (OPM) has launched a new web site to increase the number of minority students who take advantage of federally funded shcolarship and job opportunities. This site lists government internships, scholarships, fellowships, and grants for undergraduate and graduate students, and offers advice on creating resumes that will appeal to government employers.
- Federal Perkins Loans - This is a need-based program in which graduate students may borrow up to $40,000 total, less any amount borrowed as an undergraduate. Repayment begins nine months after graduation.
- Federal Stafford Loans - Formerly known as Guaranteed Student Loans, this is another need-based loan program. Graduate students may borrow up to$8,500 per year to a maximum of $65,000, less any amount borrowed as an undergraduate. Repayment begins six months after studies end.
- Federal Unsubsidized Stafford Loans - These loans are not based on financial need. Graduate students may borrow up to $10,000 per year to a maximum of $73,000. Repayment begins 60 days after the loan is disbursed; however, you may defer repayment while you are a full-time student.
- Cooperative Education - Cooperative education combines academic study with an off-campus job related to your program.
- Work-Study - This is a need-based program funded primarily by the government in which your school finds you a job. Your salary will approximate minimum wage. If you receive a $1,000 work-study award, you may work until you earn $1,000 at which point employment terminates.
Foundations
Foundations offer financial aid in areas that concern them. A Reference book on graduate study financial aid is published by The Foundation Center in New York City. (Address: 79 Fifth Avenue, 8th Floor, New York, New York 10003. Telephone: 212-620-4230). Grants offered in different fields are listed on Grant Guides, a fee-based databank
- National Research Council - Seven hundred fifty fellowships of up to $14,000 per year are available for students in the Sciences, Social Sciences, Mathematics, and Engineering. For more information, contact the National Research Council, Office of Scientific and Engineering Personnel Fellowship Programs, 2101 Constitution Ave. NW, Washington, DC 20418. (202) 334-2000.
- Fulbright Scholars - This extremely prestigious and competitive program allows award recipients to live and study abroad. For more information on this and other grants for graduate study in their countries, contact the Institute of International Education, US Student Programs, 809 UN Plaza, New York, NY 10017.
- Mellon Fellowships - Awards equal to tuition plus $14,500 stipend are available for graduate students in the Humanities. Contact: Mellon Fellowships, Woodrow Wilson National Fellowship Foundation, POCD 5329, Princeton, NJ 08543.
Corporations
Some corporations offer support through sponsoring research at universities and providing tuition support to employees. Corporate Tuition Aid Programs: A Directory of College Financial Aid for Employees at America's Largest Corporations by Joseph P. O'Neill.
Other Loans
- Alternative loans (e.g., Law Access Loan, Medloans, MBA Loans, Professional Education )
|
|
