Are you struggling to make the salary that you deserve? Then getting a masters degree, which will enhance your skills, make you a more valuable employee, and boost your earning potential, could be just what you need.
Regardless of what masters program you choose to pursue, the education won’t come cheap. Whether you’re hoping to go the traditional route and get your master of business administration in a brick and mortar college or you’re hoping to get a public health degree onlineat a school that has the most complete program, knowing how to afford to study for that masters degree is the first step. Continue reading to learn more about how you can afford it more easily.
Seek Out Scholarships
Many graduate programs will award scholarships, as well as fellowships, based upon merit. Scholarship opportunities will vary from one school to another, so you will need to look into the options available from the academic department or grad school of your choice, rather than going to the central financial aid office. This will require some research, but working with a graduate admissions official or at least someone who is affiliated with the program that you want to pursue could help you access and sort through your options.
Ask Your Employer for Help
Your employer may be willing to give you at least some money towards your masters degree. After all, the skills that you will be acquiring throughout the degree program will end up serving your employer because you can immediately apply those skills to your work and do your job even more effectively. Ask your employee about any available tuition reimbursement programs within the organization, and be sure to find out about any restrictions. Find out how much money the employer is willing to give you so that you can calculate how much you will have to pay yourself. Some companies even provide 100% of the money you need, but it will depend upon your employer.
Apply for Financial Aid
There are federal and state grants available, but you will need to fill out the Free Application for Federal Student Aid (FAFSA) form in order to see if you qualify. The grants are based on financial need, so if you can prove that you do not have the money available in your bank account to pay for your college tuition, you may be eligible for some help.
Apply for Student Loans
Finally, you can apply for student loans. These act like any other loans, providing you with the money that you need to cover your tuition and then charging interest on the amount that you owe the lender. Research the loan options available to see which one fits your needs best.
As you can see, there is no reason to fret if you do not have the cash available to pay for your masters degree. There are several different paths that you can take to get the financial aid that you need, whether you apply for loans, grants, or scholarships, or you ask your employer for assistance.