As a former undergraduate student, you might remember the journey that is the Free Application for Federal Student Aid (FAFSA).
If you’re hoping to receive financial aid as a grad student, then that journey shall continue. Even though you’ve successfully completed your bachelor’s degree, you still must file the FAFSA to receive financial assistance.
If you need a refresher, check out our guide on how to file the FAFSA form.
Since you are going back to college to receive an advanced degree, you will not get the same financial aid package as the one you might have received as an undergrad student. For example, you are no longer eligible to receive a Pell Grant.
So, how can you get financial aid as a graduate student?
(Some) Grants or Other Assistance
Those who are going to school to become teachers should consider applying for a TEACH Grant. Just be sure to read the fine print because there is a service component to that grant, and if you don’t complete the service component, this grant becomes a loan.
Graduate students can also participate in work-study. This opportunity is based on the availability of positions at the institution.
There are other opportunities for grad students to receive employment at colleges and universities as well. For example, at The College of Saint Rose, you can work as a Graduate Assistant (GA).
Graduate Assistants work in an office or academic department and they typically assist with research or other tasks related to the college. Large universities may also offer Teaching Assistants (TAs), who are involved in teaching courses.
Graduate Student Loans
Federal student loans are available for grad students, such as an Unsubsidized Direct Federal loan. Students can borrow up to $20,500 in a given academic year.
There’s also a Federal Graduate Plus Loan, which mirrors the Parent Plus loan. The maximum amount you can receive is equal to the cost of attendance at your prospective college or university.
To receive the Unsubsidized Direct Federal or the Federal Graduate Plus Loan you have to be at least a half-time student. Check with your college or university to learn the maximum amount of credits needed to be considered full time.
Private loans are also an option, but we recommend them being your last option.
Also, research to see if your profession can get loan forgiveness. You can learn more about that here.
Graduate Scholarships
There are some scholarship programs for graduate students. FastWeb is a great resource to check out!
If you want to learn more about grants, loans, and scholarships, the Financial Aid King is at your beck and call!
