Financial aid discussions often focus on undergraduate aid, especially for the first year of college. However, getting an education beyond a bachelor's degree can be just as expensive. Students may be able to get financial aid for additional studies, but it depends on what educational path the student is taking.
Degree Program
In general, you must be pursuing a degree program to receive financial aid. Therefore, after getting a bachelor's degree, you must go on to get a master's degree if you want more financial aid. The exception is if you need additional coursework past your bachelor's degree to get teaching certification in your state. Because teachers are in demand, the federal government offers financial aid only for the courses required to get certification after earning your bachelor's degree and only if the school does not offer a bachelor's degree in education. Federal loans also are available for up to one year of post-baccalaureate coursework needed as a prerequisite for a master's program.
Types of Aid
Most financial aid for graduate students is in the form of loans. All of the grants from the federal government are for undergraduate students, except for the TEACH grant for students who commit to teaching high-need subjects in low-income schools. The federal government offers Stafford, Perkins and PLUS loans for graduate students. Individual schools also often provide financial aid to graduate students. It can come in the form of grants, scholarships and on-campus work.
Applying for Aid
Similar to the process for undergraduate education, you must fill out the Free Application for Federal Student Aid as the starting point for financial aid. This determines what federal loans you can get and provides your school with financial information so it can award additional aid. Also contact your school's financial aid office to ask whether graduate students need to fill out supplementary financial aid forms. Your academic department chair also might be able to offer assistance with finding work in the department to help pay your way through graduate school.
Ways to Pay
Because financial aid for graduate school is harder to come by than aid for undergraduates, students should consider other ways to pay for their education. Some employers offer tuition reimbursement, so one idea is to get a job in your field and ask your employer about paying for further education so you can move up in your field. Another option is to join the military and take advantage of the educational benefits it offers. Many students attend school part-time while they work to pay their way through graduate school without accumulating much, if any, debt.
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