5 Ways to Afford Grad School | Chapman University
Archived: 2026-04-23 17:19
5 Ways to Afford Grad School | Chapman University
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5 Ways to Afford Grad School
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5 Ways to Afford Grad School
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5 Ways to Afford Grad School
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Attend an Event
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So, you’ve done your research and
decided that grad school is the right move for you
.
Now you just have to figure out how you’re going to pay for it.
Let’s face it: going to grad school is a big investment.
So what can you do to afford being a grad student?
Plenty, it turns out. Here are five tips that will help you afford grad school no
matter where you choose to go.
Contents
1.
Get Traditional Financial Aid
2.
Work on Campus
3.
Take an Integrated 4+1 Program
4.
Have your Employer Pay for It
5.
Earn your Degree Online
1. Get Traditional Financial Aid
The first thing you’ll want to do as you figure out how to afford grad school is see
how much financial aid you can get.
Financial aid comes in all shapes and sizes. So let’s break down the most common types:
Scholarships
You’ve probably heard of scholarships. They’re one of the most common types of financial
aid.
Scholarships are financial awards that help fund your graduate study. They’re available
from schools and a number of different sources, such as private organizations, nonprofits
and state and federal governments. Scholarships are free money: you don’t need to
pay them back.
Whether or not you’re eligible for a scholarship depends on the scholarship itself.
In other words, every scholarship has different requirements.
That said, almost all scholarships base their requirements on academic achievement.
After all, they’re called
scholar
ships for a reason.
Certain scholarships have requirements besides academic merit, but in general the
better you’ve done academically, the better your chances of receiving scholarships.
Grants
Grants are similar to scholarships: they’re financial awards that will help you find
your education. They typically come from federal, state or local governments.
Like scholarships, grants are completely free. You don’t need to pay them back.
Unlike scholarships, however, grants are usually based on financial need rather than
academic achievement.
Fellowships
Like scholarships and grants, fellowships are financial awards that you don’t need
to repay.
Fellowships can be based on merit (like scholarships) or need (like grants). But unlike
scholarships and grants, fellowships typically come with a
work requirement
, such as teaching or doing research.
Because of this, fellowships may seem less worthwhile than scholarships or grants.
After all, scholarships and grants are free money.
But remember: fellowships don’t just give you money; they give you
experience
. That experience can be invaluable as you pursue your goals in graduate school and
beyond.
Loans
Loans are also a common way to pay for your education. As a grad student, you have
two options for taking out a loan:
Federal loans (only available to U.S. citizens)
Private loans
Let’s explore each option.
Federal Loans
The United States federal government provides loans for graduate students (as long
as they’re U.S. citizens). But there’s a catch: graduate loans are
unsubsidized
(as opposed to undergraduate loans, which are subsidized).
There’s good news and bad news when it comes to unsubsidized loans.
The good news is that unsubsidized loans aren’t based on financial need; anyone can
get them.
The bad news is that with an unsubsidized loan, you start accruing interest from the
moment you take out the loan. This means that when you pay the loan back, you’re responsible
for the full loan amount plus all the interest accrued.
Private Loans
If federal loans aren’t enough or if you don’t qualify for federal loans, you can
get loans from private organizations. Private loans typically have no borrowing limit,
so they are a good option if you’re in need of a lot of funding.
Try starting with your current bank or financial institution. Find out if they provide
loans for graduate students.
Just keep in mind that most private loans:
Have higher interest rates than federal loans.
Require you to have a good credit score or someone to cosign the loan for you.
Tip
No matter which type of loan you choose, make sure you’ve exhausted all your other
financial aid options first and gotten as much money as you can out of scholarships,
grants and fellowships. Unlike these other options, loans cost money in the long run.
One last point to keep in mind: typically, to receive financial aid of any type (scholarships,
grants, fellowships and loans) you must be one of the following:
A U.S. citizen.
A U.S. national
A U.S. permanent resident
If you are an international student or an undocumented student and you need financial
aid, check out this
list of scholarships that don’t require proof of citizenship
.
2. Work on Campus
Working on campus is a great way to make money to pay for grad school. That much is
a no brainer. But working on campus won’t just
make
you money; it’ll actually
save
you money in the long run as well.
How? Well, unless you get a stipend to help pay your living expenses, you’ll likely
be working your way through grad school regardless. And if your work is on campus,
you will be able to:
Save money on your commute:
You’ll have fewer trips to make per day because your job will be right where your
classes are: on campus.
Save time:
Not commuting each day means you’ll have extra time to do your homework, hit the books
or get some much-needed R&R.
Work in your field:
This one’s not a guarantee, but play your cards right and you might be able to land
an on-campus job or assistantship that lets you work in your field. This means that
you’ll get paid to conduct research, do lab work, attend conferences and more — not
to mention all the networking opportunities.
To sum up, working on campus can help you make money, save money and time and get
worthwhile professional experience.
3. Take an Integrated 4+1 Program
Taking an integrated 4+1 program is another great way to keep costs down.
Earning a typical MA or MS degree usually takes about two years. Earning more advanced
degrees, such as a Ph.D. or a Pharm.D., takes even longer.
And every semester you spend in your program is another semester you have to pay your
tuition and fees.
In short:
the quicker you earn your degree, the less you will have to pay for it
.
And that’s what integrated 4+1 programs are for: earning your degree quickly.
In an integrated 4+1 program, you may end up only having to pay as little as two semesters’
worth of tuition.
If you can’t get enough financial aid to cover years of grad school, look into taking
an integrated 4+1 program (like the ones we offer here at Chapman).
Tip
Keep in mind that some schools (like us for example) allow only their current undergraduate
students to sign up for an Integrated 4+1 program. At schools with this policy, you
can’t start an Integrated 4+1 program after you graduate with your bachelor’s; you
have to start while you’re still an undergrad.
4. Have Your Employer Pay for It
If you work for a large company, you’re in luck when it comes to going to grad school:
some will pay their employees to get advanced degrees. Certain ones will even fund
your tuition in full.
This is called “tuition reimbursement,” and it may sound too good to be true — especially
if you’re already working for a company with a tuition reimbursement program — but
it makes sense:
Companies want intelligent, skilled people.
Grad school makes you more intelligent and more skilled.
Companies like this because it lets them increase their intelligence pool and skill
pool without hiring.
You like this because it means your company pays for your education.
It’s a win-win, and one you should take advantage of if you can. Find out from your
co-workers (or the internet) if your company has a tuition reimbursement program.
If so, break that ice with your HR department or your boss or supervisor, and make
sure you come prepared with a list of reasons why sending you to grad school on company
money is an amazing idea.
5. Earn Your Degree Online
In this day and age, plenty of us live, work and — yes — learn online. So earning
a graduate degree partially or fully online is becoming more and more common.
When it comes to saving money, online classes may not necessarily be cheaper than
their in-person equivalents (though they can be!), but they can still help you
save money in the long run
. With online classes, you will be able to save on
Transportation:
Taking online classes will save you money on transportation because you won’t have
to commute to campus as much. Plus, you’ll save time while you’re at it.
Supplies:
If you take online classes, chances are you’ll also use online textbooks, which are
often cheaper than their physical counterparts. Plus, your school or your professors
may provide you with the class’ required materials and programs for free.
As long as you’re ok with the online class format and can hold yourself accountable
to complete your work on time, earning your graduate degree partially or fully online
will save you money.
Tip
If you do decide to pursue your graduate degree online, keep in mind that Chapman
does not offer online graduate programs under normal circumstances (i.e. outside of
global pandemics). So if online is a must for you, you’ll want to look elsewhere.
To sum up, you can make grad school more affordable by:
Taking advantage of financial aid.
Working on campus.
Getting your work to pay for it.
Earning your degree online.
Taking an accelerated program (if you are qualified)
Mix and match these strategies, and you’ll be well on your way to an affordable graduate
degree.
Chapman University is a private university located in Southern California. We offer
over 40 graduate degree programs and certificate programs, and we’re committed to
helping you get the best education possible. You can contact us at
gradadmit@chapman.edu
or (714) 997-6711.
Financial Aid And Funding
Funding Opportunities by Program
5 Ways to Afford Grad School
Contact Us
Questions? Contact us at:
gradadmit@chapman.edu
(714) 997-6711
Hours:
8 a.m.–5 p.m. (Pacific time
Back to top
Back to top
©
Skip to main content
Skip over carousel to next section
Off
Graduate Admission
5 Ways to Afford Grad School
Admission
Undergraduate Admission
Graduate Admission
Non-degree Seeking Students
Contact the Office of Admission
Activating Your Chapman Account
Graduate
Integrated Programs
Graduate Fairs
Contact Us
International Students
Apply
Events
Financial Aid and Funding
Admitted Students
Financial Aid And Funding
Funding Opportunities by Program
5 Ways to Afford Grad School
»
5 Ways to Afford Grad School
Stay in Touch
Attend an Event
Apply
So, you’ve done your research and
decided that grad school is the right move for you
.
Now you just have to figure out how you’re going to pay for it.
Let’s face it: going to grad school is a big investment.
So what can you do to afford being a grad student?
Plenty, it turns out. Here are five tips that will help you afford grad school no
matter where you choose to go.
Contents
1.
Get Traditional Financial Aid
2.
Work on Campus
3.
Take an Integrated 4+1 Program
4.
Have your Employer Pay for It
5.
Earn your Degree Online
1. Get Traditional Financial Aid
The first thing you’ll want to do as you figure out how to afford grad school is see
how much financial aid you can get.
Financial aid comes in all shapes and sizes. So let’s break down the most common types:
Scholarships
You’ve probably heard of scholarships. They’re one of the most common types of financial
aid.
Scholarships are financial awards that help fund your graduate study. They’re available
from schools and a number of different sources, such as private organizations, nonprofits
and state and federal governments. Scholarships are free money: you don’t need to
pay them back.
Whether or not you’re eligible for a scholarship depends on the scholarship itself.
In other words, every scholarship has different requirements.
That said, almost all scholarships base their requirements on academic achievement.
After all, they’re called
scholar
ships for a reason.
Certain scholarships have requirements besides academic merit, but in general the
better you’ve done academically, the better your chances of receiving scholarships.
Grants
Grants are similar to scholarships: they’re financial awards that will help you find
your education. They typically come from federal, state or local governments.
Like scholarships, grants are completely free. You don’t need to pay them back.
Unlike scholarships, however, grants are usually based on financial need rather than
academic achievement.
Fellowships
Like scholarships and grants, fellowships are financial awards that you don’t need
to repay.
Fellowships can be based on merit (like scholarships) or need (like grants). But unlike
scholarships and grants, fellowships typically come with a
work requirement
, such as teaching or doing research.
Because of this, fellowships may seem less worthwhile than scholarships or grants.
After all, scholarships and grants are free money.
But remember: fellowships don’t just give you money; they give you
experience
. That experience can be invaluable as you pursue your goals in graduate school and
beyond.
Loans
Loans are also a common way to pay for your education. As a grad student, you have
two options for taking out a loan:
Federal loans (only available to U.S. citizens)
Private loans
Let’s explore each option.
Federal Loans
The United States federal government provides loans for graduate students (as long
as they’re U.S. citizens). But there’s a catch: graduate loans are
unsubsidized
(as opposed to undergraduate loans, which are subsidized).
There’s good news and bad news when it comes to unsubsidized loans.
The good news is that unsubsidized loans aren’t based on financial need; anyone can
get them.
The bad news is that with an unsubsidized loan, you start accruing interest from the
moment you take out the loan. This means that when you pay the loan back, you’re responsible
for the full loan amount plus all the interest accrued.
Private Loans
If federal loans aren’t enough or if you don’t qualify for federal loans, you can
get loans from private organizations. Private loans typically have no borrowing limit,
so they are a good option if you’re in need of a lot of funding.
Try starting with your current bank or financial institution. Find out if they provide
loans for graduate students.
Just keep in mind that most private loans:
Have higher interest rates than federal loans.
Require you to have a good credit score or someone to cosign the loan for you.
Tip
No matter which type of loan you choose, make sure you’ve exhausted all your other
financial aid options first and gotten as much money as you can out of scholarships,
grants and fellowships. Unlike these other options, loans cost money in the long run.
One last point to keep in mind: typically, to receive financial aid of any type (scholarships,
grants, fellowships and loans) you must be one of the following:
A U.S. citizen.
A U.S. national
A U.S. permanent resident
If you are an international student or an undocumented student and you need financial
aid, check out this
list of scholarships that don’t require proof of citizenship
.
2. Work on Campus
Working on campus is a great way to make money to pay for grad school. That much is
a no brainer. But working on campus won’t just
make
you money; it’ll actually
save
you money in the long run as well.
How? Well, unless you get a stipend to help pay your living expenses, you’ll likely
be working your way through grad school regardless. And if your work is on campus,
you will be able to:
Save money on your commute:
You’ll have fewer trips to make per day because your job will be right where your
classes are: on campus.
Save time:
Not commuting each day means you’ll have extra time to do your homework, hit the books
or get some much-needed R&R.
Work in your field:
This one’s not a guarantee, but play your cards right and you might be able to land
an on-campus job or assistantship that lets you work in your field. This means that
you’ll get paid to conduct research, do lab work, attend conferences and more — not
to mention all the networking opportunities.
To sum up, working on campus can help you make money, save money and time and get
worthwhile professional experience.
3. Take an Integrated 4+1 Program
Taking an integrated 4+1 program is another great way to keep costs down.
Earning a typical MA or MS degree usually takes about two years. Earning more advanced
degrees, such as a Ph.D. or a Pharm.D., takes even longer.
And every semester you spend in your program is another semester you have to pay your
tuition and fees.
In short:
the quicker you earn your degree, the less you will have to pay for it
.
And that’s what integrated 4+1 programs are for: earning your degree quickly.
In an integrated 4+1 program, you may end up only having to pay as little as two semesters’
worth of tuition.
If you can’t get enough financial aid to cover years of grad school, look into taking
an integrated 4+1 program (like the ones we offer here at Chapman).
Tip
Keep in mind that some schools (like us for example) allow only their current undergraduate
students to sign up for an Integrated 4+1 program. At schools with this policy, you
can’t start an Integrated 4+1 program after you graduate with your bachelor’s; you
have to start while you’re still an undergrad.
4. Have Your Employer Pay for It
If you work for a large company, you’re in luck when it comes to going to grad school:
some will pay their employees to get advanced degrees. Certain ones will even fund
your tuition in full.
This is called “tuition reimbursement,” and it may sound too good to be true — especially
if you’re already working for a company with a tuition reimbursement program — but
it makes sense:
Companies want intelligent, skilled people.
Grad school makes you more intelligent and more skilled.
Companies like this because it lets them increase their intelligence pool and skill
pool without hiring.
You like this because it means your company pays for your education.
It’s a win-win, and one you should take advantage of if you can. Find out from your
co-workers (or the internet) if your company has a tuition reimbursement program.
If so, break that ice with your HR department or your boss or supervisor, and make
sure you come prepared with a list of reasons why sending you to grad school on company
money is an amazing idea.
5. Earn Your Degree Online
In this day and age, plenty of us live, work and — yes — learn online. So earning
a graduate degree partially or fully online is becoming more and more common.
When it comes to saving money, online classes may not necessarily be cheaper than
their in-person equivalents (though they can be!), but they can still help you
save money in the long run
. With online classes, you will be able to save on
Transportation:
Taking online classes will save you money on transportation because you won’t have
to commute to campus as much. Plus, you’ll save time while you’re at it.
Supplies:
If you take online classes, chances are you’ll also use online textbooks, which are
often cheaper than their physical counterparts. Plus, your school or your professors
may provide you with the class’ required materials and programs for free.
As long as you’re ok with the online class format and can hold yourself accountable
to complete your work on time, earning your graduate degree partially or fully online
will save you money.
Tip
If you do decide to pursue your graduate degree online, keep in mind that Chapman
does not offer online graduate programs under normal circumstances (i.e. outside of
global pandemics). So if online is a must for you, you’ll want to look elsewhere.
To sum up, you can make grad school more affordable by:
Taking advantage of financial aid.
Working on campus.
Getting your work to pay for it.
Earning your degree online.
Taking an accelerated program (if you are qualified)
Mix and match these strategies, and you’ll be well on your way to an affordable graduate
degree.
Chapman University is a private university located in Southern California. We offer
over 40 graduate degree programs and certificate programs, and we’re committed to
helping you get the best education possible. You can contact us at
gradadmit@chapman.edu
or (714) 997-6711.
Financial Aid And Funding
Funding Opportunities by Program
5 Ways to Afford Grad School
Contact Us
Questions? Contact us at:
gradadmit@chapman.edu
(714) 997-6711
Hours:
8 a.m.–5 p.m. (Pacific time
Back to top
Back to top
©