The cost of graduate school continues to rise, yet a higher degree is often vital for career advancement in a variety of industries. Since many grad students don't have the time to work full-time jobs to finance their studies, searching for a scholarship is an important step. And while resources may seem scarce, hundreds of thousands of fellowships and other financial aid are awarded annually.
Types
The main types of grad school scholarships are fellowships, assistantships and employer tuition funding. Getting any of these positions generally means that rather than paying for school, graduate students are actually paid to attend in addition to having their studies covered, in exchange for some extra work. Graduate fellows and assistants can pay their way through school by working as assistant teachers to small undergraduate classes in the subject they specialize in. Graduate research assistants also are hired to aid faculty on various research projects in their field. If grad students are able to work during their studies, some employers will offer tuition payment to keep valuable employees who seek to better their understanding of a given field.
Considerations
In most cases, scholarships and fellowships are granted to those students who fit certain criteria and are not limited to those in financial need. These qualifications could come in the form of academic strengths, artistic or athletic talent, or even ethnic background. Grad school scholarships are also given to prospective students in specific academic fields.
Benefits
Aside from the obvious benefits of having tuition paid, many graduate fellowship and assistantship programs also offer a paycheck, health benefits and a monthly stipend to help cover living expenses. Plus, the experience gained working alongside seasoned faculty can be invaluable and can be significant resume boosters.
Where to Look
Reliable Internet scholarship sites are still some of the best means to find a scholarship to match each student's personal background and traits. Some tried and true websites include Fastweb.com and Studentscholarshipsearch.com. School financial aid offices also provide abundant resources, and a meeting with a financial aid officer can help set a scholarship search on the right path.
Expert Insight
Graduate school scholarship pros advise prospective grad students vying for financial aid to avoid common pitfalls during the application process. One of the greatest mistakes many people make when applying for scholarships is simply not beginning the search early enough, according to Mary Watkins of the grad school at the University of Cincinnati in a Gradview.com article. She reminds future graduate students that this wasted time can cost thousands of dollars that might have otherwise been awarded.
Additionally, experts urge future grad students not to miss the resources available at the graduate schools themselves, many of which offer their own scholarships, fellowships or teaching assistantships to fund tuition.
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