Scholarship Strategies That Help Cut Grad School Costs
by Jean O’Toole
It’s no secret that grad school is expensive, but scholarship strategies to help reduce the cost shouldn’t be. Start finding opportunities with this advice!
W
ith student loan debt at an all-time high of $1.6 trillion in the United States, it’s a wise decision to look for alternative ways
to reduce the cost of grad school before you sign your name to new or additional student loans. A largely overlooked way to reduce the cost of a master’s or doctoral education is through private scholarships. Many companies, organizations, individuals, and foun- dations have created private scholarships that can be used by students at any level of higher education and at any college or university. But why don’t many people apply for these scholarships, and where can you find them? Let’s discuss.
Why don’t more grad students pursue private scholarships? There are many reasons why people don’t pursue
private scholarships despite the fact that they can dramatically reduce or even eliminate the costs of graduate school, medical school, law school, or doc- torate programs. Some people wrongly assume that scholarship applications will take a lot of time that they don’t have. Some students don’t know how to start looking so they give up before they even start. Others mistakenly believe the window of opportunity to apply for scholarships ended when they graduated from high school. And still more simply believe they couldn’t possibly be “good enough” to win an award and don’t ever try.
Where to look for private scholarships for grad school With so many people opting out of the application pro- cess, you have an increased probability statistically of
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becoming the recipient of a scholarship award. The key is knowing where to find the scholarship opportu- nities. Here are five places to look for scholarships for advanced degree programs.
Academic department offices Many private scholarship committees actively reach out to academic departments at colleges and universi- ties offering or promoting career-specific scholarships. Utilize both the academic departments of where you completed your undergraduate degree as well as where you’re looking to pursue your advanced de- gree. This should be your first step, as it’s a massive time-saver in finding scholarships that align with your future goals. Follow up with an email to those depart- ments every three months to check in on any new opportunities.
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