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College Is Possible
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Introduction
You're nearing the end of school and will soon have your diploma. But you're not ready for the 9 to 5 business world. Have you thought about graduate school?
Applying to graduate school is an excellent career move and more and more people are going the higher-ed. route. Attending graduate school is one of the best ways to sharpen your expertise within in a field as well as increase personal marketability in the workplace. However, for most, the process of applying to grad school is intimidating and the cost of higher education, overwhelming. How do I find the right school for me? What tests do I need to take? What financial options, if any, do I have? Don't fret. Finding the answers to these important questions and applying to the school of your choice has never been easier. If you have access to the Internet you can transform yourself from a lowly undergrad to an esteemed Master's student without ever leaving the comforts of your room! What are you waiting for?
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Peterson's Graduate School Channel
Graduate School Guide
U.S. Higher Education Links
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Setting Priorities
If graduate school is in your near future, now is the time to start the application process. Most graduate schools will not accept your application more than one year in advance of your start date, so don't delay. Fortunately, you can conduct research and register forms instantly on the Web if you follow the basic steps and access the right resources. The first step is to set your priorities. What do you hope to attain by going to grad school? Spend some time writing down your goals as you will be asked to explain your reasons as part of the application process. Do you want to attend school locally or out of state? Would it be better to enroll in a private or public school? What learning environment is important to you? Visit University Web sites and review school literature to find the program that fits your personal goals. There are numerous Web sites that aid in researching individual programs and universities with the use of database-driven search engines. One the most respected names in education is Peterson's, the world's largest education information and services provider. Peterson's is the first of many "one-stop" resources listed in this article that leverage the power of the Internet to consolidate numerous resources into one convenient Web site. Visit their Graduate School Channel to begin investigating graduate programs and universities. For a comprehensive list of schools, visit the University of Texas U.S. Higher Education directory which links you to thousands of schools listed alphabetically and by state. |
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America's Best Graduate Schools
Gradschools.com
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Apply To Your Top Programs
Based on your research, submit applications to your top schools. Aim for the stars and don't hold back on applying to programs you think might be too costly. Each school's financial aid office will develop a financial aid package with consideration to all of the financial options available to you. Theoretically, financial aid is designed to allow you to choose a program based foremost on how the program will meet your academic and professional needs, rather than on how much a school costs. Your application will likely be reviewed for the prerequisite degree, grade point average, test scores, background preparation in your field of study, academic and research ability, relevant experience and the degree you expect to attain. [Back to Top] |
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Peterson's Test Preparation
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Each course of study has its own application requirements. You may need to take one or more standardized tests such as the GRE (Graduate Record Examination), GMAT (Graduate Management Admission Test), LSAT (for law school), MCAT (for medical school), or others to be considered for admission. You will provide a complete application file to the school which will include most of the following: an application form, statement of intent, transcripts of your academic work, information about projected course work and completion dates, work samples (written work, research, or a portfolio), letters of recommendation from faculty, and scores from standardized tests. You can start preparing for these any one of these tests by downloading Peterson's free TestPrep software for Mac or Windows. TestPrep software allows you to complete one full-length test and one half-length diagnostic, and receive a customized score report and study plan for each. |
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Financial Aid Applications can be filled out The U.S. Department of Education's Free
The CSS Profile
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Complete the Appropriate Financial Aid Application
In addition to submitting standardized test scores, your school might ask you to complete one or more of the following:
Schools use these forms to determine your "need" for financial aid. They require information about student and family income, income taxes, family size, assets and more. This need-analysis determines how much students and their families are expected to contribute from their own resources and how much aid students are eligible to receive. Graduate students are normally assigned "independent" financial status when determining need and the family's assets are not taken into account. The idea behind "need-based" aid is that it should cover what you cannot. The gap that exists between a student's expected contribution and the price of attending may be filled by a number of federal and state grant and loan programs, aid provided by institutions, and private sources of aid. Fill out this online Financial Aid Estimation Form if you want to get an idea of your eligibility for aid. |
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The following resources can guide you One Stops
FastWeb
FinAid
Peterson's
CollegeEdge.com
Other Financial Aid Resources
Peterson's Financing Education
The Student Guide
The Financial Aid Resource Center
CollegeNet - Mach 25 Scholarship Database
College Board Online Scholarship Search
The Scholarship Research Network Express
UNCF/The College Fund
The Heath Resource Center's Financial
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Consider Your Funding Options
No matter what your family income, you may be eligible for some type of financial aid. For example, high income families can seek merit-based awards that are given independently of the family's ability to pay for graduate school. These can include a variety of scholarships for individual talents or abilities or group affiliations (clubs, business, etc.). Funds for financial aid come from a variety of sources including federal and state governments, universities, and private organizations. For the graduate student, the university is the primary source of funding. Financial aid you'll want to consider includes the following:
Scholarships and Grants
Fellowships and Assistantships
Loans Student loans have lower interest rates than commercial loans. Federal Perkins Loans, Subsidized Federal Stafford Loans and Subsidized Federal Direct Loans are all need-based. No payments are made while a student is in school, but six months after leaving school, dropping below halftime or graduating, the borrower must begin to make regular monthly payments. Unsubsidized Federal Stafford Loans and Unsubsidized Federal Direct Loans are awarded without regard to need. Interest payments begin immediately and regular payments start six months after the borrower ceases to be at least a halftime student. The amount you may borrow is fixed and is dependent on your year in school. Loans may come from the Federal government by way of the school or from private financial institutions. Interest rates for most student loans are reasonable. Depending on the loan program, money is loaned either directly to the student or to the parents. Generally, students are required to repay their loans after graduation from their program.
The Federal Work-Study Program
Alternative Financing More often than not these days, businesses understand the benefits of employees getting higher degrees. Many companies have programs that help their employees finance a higher degree. These programs can include full tuition reimbursement and generally require a contractual agreement that you work for the company as you get your degree or for a certain length of time after you earn your degree. Another way to save money on your graduate education is to take advantage of tax credits proposed by the Clinton administration. The Lifetime Learning credit is designed to reduce the amount of Federal Income tax owed and therefore, making it possible for families to afford to meet the costs of higher education. The Lifetime Learning Credit is available for vocational college, graduate and professional students, and adults who want to upgrade their job skills or acquire new ones. Finally, the US military can be a good source of funding for education and there are a variety of financial aid programs to choose from. The most popular are the Montgomery GI Bill and the Army or Navy College Fund. For more information visit the Army and Navy Web sites. In addition, hundreds of colleges and universities offer ROTC as an elective course for college credit. Through ROTC, the Army offers merit-based scholarships that can be worth over $50,000. In addition to tuition and fees, the Army pays ROTC students a monthly allowance for living expenses. There is no military commitment for at least the first year in ROTC. So students can feel free to take a course and see if becoming an Army officer is right for them. For more information on ROTC programs, check out ROTC on the web.
Whatever path you decide to take toward higher education, target the programs best suited to your career goals and don't make financial costs your primary concern. One thing to keep in mind is that students typically end up owing about the same amount after graduation whether they attend a public or private institution. Financial aid is designed to meet your financial need based on the availability of funds and to create parity in actual costs paid, even for schools with different tuitions. Good luck! |
