Paying for Grad School
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![Page 1: Paying for Grad School](https://reader031.fdocuments.us/reader031/viewer/2022022414/5878c5cf1a28ab26728b5e9d/html5/thumbnails/1.jpg)
MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY
PAYING FOR GRADUATE SCHOOL
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Steps to help pay for
graduate school
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1. Complete financial aid applications
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The FAFSA:Required by every school
The CSS/Financial Aid PROFILE
®
Required by some schools
Your college/university financial aid applicationRequired by some schools
Submit applications by the deadline!
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You will be considered
for:
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College LoansDirect Unsubsidized Loan
$20,500 max per year (more for health care programs)
Perkins Loan$8,000 max per year
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Other AidTEACH Grant
For teaching programs
Federal Work-StudyEarned through part-time work on campus
Massachusetts Graduate Tuition WaiverYour college/university-specific funds
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2. Ask each school about
merit-based aid
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Based on achievement
You might need to submit:•A separate application•An essay•A nomination
Each school will have different opportunities
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3. Look For Fellowships
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Start here at GradSchools.com
Ask for opportunities at each school
Prepare for academic work, training, or research
Your monetary award:•Can cover up to full cost of tuition & stipend
•Can be awarded on financial need or merit
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4. Search for Teaching or Research
Assistantships
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Seek out faculty to ask about opportunities
Check with individual departments at each school
Prepare for classroom instruction or research
Your monetary award:can cover up to full cost of tuition & stipend
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5. Apply for Private
Scholarships
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U.S. Department of Labor
Fulbright Program
Fastweb
Seek out scholarships in your field through:•Associations•Foundations•Professional Organizations
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6. Research Other Ways
to Pay
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Resources for Veterans and Active Military Service Members
Employer’s tuition remission
Part-time evening classes
College payment plan
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7. Consider Private Loans
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MEFA Graduate Loan
Graduate PLUS Loan
Loans from other banks/lenders
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8. Seek Out Tax Benefits
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Lifetime Learning Tax Credit
For eligible tax payers, earn up to a $2,000 tax credit based on paid
qualified school expenses
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9. Take These Steps
Now
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Work to establish good credit Understand your undergraduate loan repayment options Pay down current debt Start saving Practice living on a budget