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MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY
PAYING FOR GRADUATE SCHOOL
Steps to help pay for
graduate school
1. Complete financial aid applications
The FAFSA:Required by every school
The CSS/Financial Aid PROFILE
®
Required by some schools
Your college/university financial aid applicationRequired by some schools
Submit applications by the deadline!
You will be considered
for:
College LoansDirect Unsubsidized Loan
$20,500 max per year (more for health care programs)
Perkins Loan$8,000 max per year
Other AidTEACH Grant
For teaching programs
Federal Work-StudyEarned through part-time work on campus
Massachusetts Graduate Tuition WaiverYour college/university-specific funds
2. Ask each school about
merit-based aid
Based on achievement
You might need to submit:•A separate application•An essay•A nomination
Each school will have different opportunities
3. Look For Fellowships
Start here at GradSchools.com
Ask for opportunities at each school
Prepare for academic work, training, or research
Your monetary award:•Can cover up to full cost of tuition & stipend
•Can be awarded on financial need or merit
4. Search for Teaching or Research
Assistantships
Seek out faculty to ask about opportunities
Check with individual departments at each school
Prepare for classroom instruction or research
Your monetary award:can cover up to full cost of tuition & stipend
5. Apply for Private
Scholarships
U.S. Department of Labor
Fulbright Program
Fastweb
Seek out scholarships in your field through:•Associations•Foundations•Professional Organizations
6. Research Other Ways
to Pay
Resources for Veterans and Active Military Service Members
Employer’s tuition remission
Part-time evening classes
College payment plan
7. Consider Private Loans
MEFA Graduate Loan
Graduate PLUS Loan
Loans from other banks/lenders
8. Seek Out Tax Benefits
Lifetime Learning Tax Credit
For eligible tax payers, earn up to a $2,000 tax credit based on paid
qualified school expenses
9. Take These Steps
Now
Work to establish good credit Understand your undergraduate loan repayment options Pay down current debt Start saving Practice living on a budget
