As a former graduate student, I can tell you that there are Federal Loans available (Stafford) but there are not any Federal Grants (to my knowledge)…unless you will be studying to become a teacher (and then to be teaching in areas that are in deep need for certain subjects). This would involve a certain number of years in committing to teach….as far as State level, if I were you, I would check your state’s department of education website. If you are a veteran or meet some other specific qualifications, you may qualify for some kinds of grants.

Otherwise my advice is the following: think long and hard before you take out loans. Also think long and hard about which school you are applying to (while considering the price tag). I went to a private school and ended up with nearly $50,000 in loans for a two-year program. (I got my degree, but I also got a lot of financial worries as a result). If it’s a grad degree that will pay once you are finished (like law or medicine or something lucrative) then it may very well matter where you go to school. If it is a degree that is in the Arts (like mine) then you must deeply consider whether that private school is worth all that money and years of debt. I would dare to say that in most cases they ARE NOT. Good luck with everything!!!

Aside from the federal loans program, private loans and the scholorships offered by colleges and some private groups, it is incredably hard to get grants for grad school and beyond. Teaching is the one field that has programs to offer, but as mentioned you would be required to agree to teach for the county/state or program for a set number of year (usually 3-5) afterwards. Since many of these programs are used to recruit new teachers into areas that see a lot of teacher turnover (inner city schools and rural districts are two of the main areas) these programs aren’t for everyone.

Knowing this, most grad students have to take out loans. It is a tough call to make, but unfortunately there isn’t much choice. You can do some things to keep the costs down…go to a state school as they usually offer lower tuition to residents. Try to go to a school that will not require you to move and/or will allow you to keep working while taking classes. Some schools even offer graduate degrees online, but in limited majors. Working may mean you will only be able to do school part time, but it may let you pay more as you go rather than having to finance your entire education through loans. If you have to move to get into the program or major of choice, then try and find other grad students to room with. You can also see if the school allows grad students to live in dorms as dorm managers…something that can help with living exspenses. Start looking as soon as you know where and what you plan to study in grad school..the more you know early on, the better you can plan. Good luck!