Furthering your education by attending graduate school is an exciting step in your life. However, you must have a source of funding, especially since the costs of attending depend on the type of program you select and its length.
Below, we’ll go over a few ways to fund your schooling that will make qualifying for graduate student loans easier and pay off what loans you take out.
Employer Tuition Assistance
If you already have a job that you plan to keep while furthering your education in grad school, then asking your employer if they offer tuition reimbursement is a good idea.
Even though large companies do offer this as a benefit for their employees, some do set limits on how much they reimburse each year. However, some have an unlimited amount for reimbursement. If you’re unsure if your company has this benefit, talk to someone in human resources.
Fellowships
A fellowship is similar to an assistantship, except that it doesn’t have the teaching responsibilities that an assistantship has. The purpose of the fellowship is to allow the student to focus on their professional development at the same time as their educational development.
Grants
Grants are one of the best sources of financial aid for college, and you don’t have to repay them. If you meet the criteria to earn the grant, you can use that money for education-related expenses, such as books, tuition, and supplies. While grants might not cover all your expenses, they do help.
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Paid Internships
While internships provide an opportunity to gain experience, necessary skills, and exposure to knowledge in a prospective field, people shy away from unpaid internships.
However, there are paid internships, and there are even remote paid internships these days. As with grants, the paid internship might not cover everything, but it does help.
Scholarships
Scholarships are another excellent funding option as you don’t have to repay the funds. Scholarships aren’t only based on merit but also on your field of study, location, heritage, and many others. Due to the many types of scholarships available, it’s best not to assume that you don’t qualify for one.
Loans
While many students take out loans to help pay for college, students have to pay the loans back. Federal direct student loans are one of the most favorable options as they don’t require credit checks. Not only that but there are options that protect you, such as income-driven repayment.
A grad PLUS loan is credit-based and has a higher interest rate, which costs you more in the long run. There are also private student loans that have a lower fixed interest rate. Remember that to qualify for some loans, you must have good credit, demonstrate a financial need, and have full-time enrollment in your program.
At Ascent Funding, you can get one step closer to financing your education. They offer affordable rates and allow you to repay on your terms; it doesn’t matter if you want to start making payments after leaving school, before you graduate, or if you pay off your loan early.
Their fee-free application process lets you see your pre qualified rates without impacting your credit score. If you’re ready to apply for your graduate student loans, then now is the time to act.
