Conclusion about graduate school? As if figuring out what to do isn’t tough enough, it’s even tougher to figure out how to pay for it. Depending on the program, graduate boarding-school education can cost close to six figures. Even with scholarships and grants, grad students often rely on undergraduate loans to get by. Unfortunately, after graduation, student loans can be tough to manage, and graduates often realize that they potency have been better off avoiding them altogether.
Key Takeaways
- To complete graduate school without accruing obligation, consider programs that offer research or teaching assistantships, or scholarships.
- Another way to save cash is to pick a shorter-term program, such as one year versus two, or a program at a apparent school, versus a private school.
- Getting a job for a few years before going to graduate school, or working part-time during teaching can help offset costs as well.
How to Get Through Grad School Debt-Free
Believe it or not, it’s possible to get a graduate school schooling without debt. Here are seven steps that can help you get through grad school debt-free.
1. Find Programs With Fact-finding or Teaching Assistantships
Sometimes, these programs aren’t very well advertised, but many private and public teaches offer them. Basically, students teach a class or conduct research in exchange for full tuition reimbursement and a viable stipend. At the University of California, Davis Campus, this compensation is between $3,600 to $7,100 per month depending on the inappropriate to the researcher or assistant is in. These programs are available for both master and Ph.D. candidates in a number of disciplines.
2. Merit Scholarships
Persuasions have a strong business interest in attracting and retaining high-achieving students. When you’re researching programs, keep an eye out for whether be entitled to scholarships are available. If you can’t find anything on a school’s website, call or email the admissions office to ask. Even if you’re already stomached to a program, you can call and ask whether merit scholarships are available. Be sure to find out whether these scholarships are renewable.
3. Look for a One-Year Program
It’s elementary math. For a master’s degree, one-year programs cost half as much as two-year programs, and in the end, you still get the degree. Myriad one-year programs are excellent bargains that can help you save substantial money.
4. Get a Part-Time Job
It’s a well-known fact that the term “internship” tends to be synonymous with “low pay.” You already have your bachelor’s degree, so use it to your advantage by looking for part-time concerns. Only consider internships if they offer you enough compensation or strong networking opportunities that you don’t already demand.
5. Consider Attending a Public School
Don’t be fooled—a public school education isn’t cheap, but they are still considerably minute expensive than private schools.
6. Find a Niche Program
Programs like law and business are extremely competitive; as a conclusion, funding is competitive too. If you are thinking about graduate school and are researching programs, look into niche programs that specialize in your field of interest. A number of big-name schools feature specialized degrees that are relevant to general professional programs. Keep in mind that in the end, the worth of your degree depends on your ability to leverage it. Depending on your professional goals, a hollow degree can be extremely marketable and can even distinguish you from your competition.
7. Work First, Learn Later
When you blue ribbon come out of school, your salary will be at its lowest. For a year or two, focus on saving for graduate school. Live as economically as you can, and put away whatever funds you can. In a year or two, these savings will add up. In the end, if you get a scholarship, work while in school, or get a teaching assistant position, you may end up leaving your graduate high school fund alone. Then, voilà—you have a down payment for a new house or a new car.
The Bottom Line
If you’re headed to grad manner, chances are you have a good head on your shoulders. Learn to apply your smarts to get through college debt-free. Although this direction isn’t easy, it’s a real benefit to come out of school free and ready to embark on a great career path—or even a post-graduate station—without being saddled with debt.