Graduate Financial Aid
Graduate student aid describes numerous types of financial aid available to graduate
students. Graduate students often have access to fellowships and scholarships, and
there are also grants, work-study programs and student loans that can help round
out graduate financial aid packages.
A fellowship is a highly competitive, achievement based form of financial aid that
is given out to students to help pay for tuition and living expenses. Fellowships
are awarded to students through private institutions, schools and the federal government.
Graduate school scholarships work similarly. Graduate school grants are provided
through the government and individual schools. Lastly, students can apply for work-study,
which provides jobs to students to help pay for school.
Obtaining a student loan for graduate education is the same as the undergraduate
process. All students must fill out the FAFSA web-form in order to be eligible for
any federal student loans or grants. Loan limits for graduate students are higher
than those for undergraduates which help graduate students better afford the high
price tag of graduate school. Graduate students can receive a Stafford Loan, Perkins
Loan or a PLUS loan for graduate and professional students.
If you need graduate financial aid beyond federal student loans, you may want to
consider graduate private loans. Private loans are not guaranteed or subsidized
by the federal government and are offered by private lenders. A Think Student Loan
can be used to pay for graduate school expenses, and you can apply online or over
the phone in about 15 minutes.