How To Afford Grad School

Find out how to afford grad school before you enroll. Grad school costs money, so plan ahead. It is not a good idea to interrupt your studies once you have started due to a lack of funds. There are several ways to make sure you will be able to afford grad school.

  1. Work. Working and attending graduate school at the same time is quite a challenge, but you need to keep your job. If you do not have a job, get one.
  2. Get a student loan. Take out a student loan, but do not borrow an excessive amount of money. Borrow less than you need and use money from your job to make up the difference. This way you will not graduate with a lot of debt.
  3. Attend grad school part-time. If you are not sure you can afford grad school, attend part-time. Start by taking one or two classes. Your financial situation may improve allowing you to increase your course load in the future.
  4. Live with your parents. Your parents will probably give you a break on room and board if you are attending graduate school. Be respectful and responsible if you choose to live with them. Remember it is their house so you have to follow their rules. But if attending graduate school is your priority, you will do what is necessary.
  5. Find a roommate. If living with your parents is not an option, a roommate is the next best thing. Another graduate student is your best bet. You will share the common goal of pursuing a graduate degree and be able to offer each other moral support. Plus your living expenses will be cut in half.
  6. Attend a local public university. It may cost you twice the price to attend college out of state, so stay close to home. The same holds true for private colleges. Attend grad school at a local public university or college and it will be easier to afford.

A solid grad school education is affordable if you make a few adjustments and follow some of the mentioned tips on affording grad school.

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