Financing Your Graduate School Career

The cost of an undergraduate education has skyrocketed in the past decade, and the world of postgraduate education has not escaped the same fate. Many people fear that the education they receive at the postgraduate level will be a poor investment, since paying back student loans can take years, if not decades.

Thankfully, many college students who are looking towards graduate school may find that they are eligible for a wide variety of scholarships and grants that can take some of the pressure off their wallet.

Scholarships - Fellowships

Graduate School Scholarships

Although there are thousands of varieties of scholarships available for graduate students, they are still much less common than undergraduate scholarships. Working hard and achieving academic results, engaging with your community, and forging strong relationships can all help a student stand out to a graduate school scholarship committee, and if all of these elements are in place, the applicant might find funding to be easy to find.

Essay-Based Scholarships

There are hundreds of essay-based scholarships available for students seeking any level of graduate education. Since they are so numerous, an ambitious student can gain the edge in some of these contests by applying early and often – that is, making sure to cast a wide net. Make sure to have a trusted advisor or professor correct your essay, and take their suggestions for edits very seriously. The people and institutions that run essay-based scholarship programs are often from academia themselves, and it's unlikely that they are from a significantly different educational background.

It is also worth your time to learn about each organization that you send an application. By tailoring your essay to match their interests and passions, you can gain an often much needed edge over competitors. It may take a great deal of time, but it's worth the potential graduate scholarships you may receive.

You can research a huge number of essay-based graduate school scholarships at:

http://www.scholarshiphunter.com/essaycontests.html

Major-Based Scholarships

Most graduate programs offer scholarships and grants within their specific departments. It is definitely worth your time to investigate what your school or your potential school has to offer. Call up the financial aid department, or peruse their website. You may find a variety of opportunities that cater specifically to your area of interest.

Employer/Professional Scholarships

Many companies and organizations offer scholarships for those looking to pursue an advanced degree that would contribute to their effectiveness as an employee. Major corporations and organizations have tuition reimbursement or sponsorships available, some covering as much as 100 percent of the cost of an advanced degree. This is especially prevalent in the informational technology realm. Companies like Microsoft, Google, Yahoo, Oracle, and Cisco all offer subsidized higher education. Speak with your employer if you suspect this might be a possibility for you.

Research Grants

A great deal of graduate education is research. Whatever area of study a student chooses to pursue, it is likely that he will be eligible for a research grant available through either the university he attends or some private group that wants to further research in the area of study. Many doctoral fellowships are also research-based. For those looking for graduate scholarships, there is a strong support network for students who wish to engage in research as a major component of their study.

Article Resources:

Nationally Coveted Scholarships
Scholarships.com

Graduate Fellowships

Entering into a graduate program for a master's or doctoral degree is a huge decision that will have a large impact on your life. It will mean additional years of research, course work, and study, culminating in the writing of your dissertation or thesis. Undergoing this level of schooling is not easy, especially when you factor in the added stress of finding the funding. Luckily, graduate programs realize that paying for a degree of this nature can be extremely difficult and thus, provide a plethora of graduate fellowships to help you out.

A fellowship is a set amount of money provided to a graduate student to allow him or her to continue his or her education. These are not loans and do not have to be repaid. However, you are expected to earn your degree as a result of receiving these benefits.

Types of Fellowships

There are two basic categories of fellowship programs available to graduate students: portable and institutional. Portable grants allows a student to utilize the funds at the school of their choice. Like most fellowships, the portable grants are geared towards specific fields of study. For instance a science student would not be able to get a portable fellowship in creative writing.

Institutional fellowships are provided to graduate students to continue their education at specific universities. Even if you have decided on a particular university, you aren't limited to finding an institutional grant from that school. Institutional grants often come with living and travel costs as well as a stipend that will allow you to exclusively work on your dissertation without distraction. You'll also find some fellowship programs which provide paid internships upon graduation to help you find job placement.

Funding for Fellowships

Fellowships are funded through a variety of sources. There are a wide range of government grants available through various federal agencies. The Departments of Defense, Education, Energy, Justice, Homeland Security, and Housing and Urban Development all offer fellowship programs. You can research these options by visiting this site:

http://www.grants.gov/

The sciences are equally represented with government fellowship programs provided by NASA and the Environmental Protection Agency. You can find many of the science and engineering grants here:

http://www.nsf.gov/funding/pgm_summ.jsp?pims_id=6201

Other fellowships are funded by corporate or private entities. There are charities whose sole function is to provide fellowships such as the Ford Foundation, the Hertz Fellowship Foundation and the Woodrow Wilson National Fellowship Foundation. Once you begin your research, you'll be amazed at how many different grant programs are available to you. By clicking here, you can begin your search through the wide range of portable and intuitional fellowships available:

http://www.gradschools.com/Article/Graduate-Fellowships/1676.html

The Grant Proposal

Applying for a fellowship means you will have to prepare a grant proposal. Each fellowship program has a specific set of requirements. You will essentially be making the case as to what field you intend to focus on and how your research might benefit society at large. This doesn't necessarily mean you have to set out to change the world with your dissertation but clearly you want to have a positive affect through your course of study. Because research is a big part of any master's or doctoral program, you may have to include some of the various research projects you plan to incorporate into your studies. Be prepared to make a complete list of how you intend to use the awarded money, and where you plan to conduct your research. More detail is better here.

If the company likes your proposal, they will likely invite you for an interview. This can be a nerve wracking process for many individuals. Most of the time they will quiz you extensively on the details of your grant proposal. Therefore, make sure you examine your proposal from every possible angle. Talk about it with your friends and family. Look for holes. Anticipate what they will ask you. Also, research the grant itself. Many interviewees like to see that you've done your research and are clearly interested in the opportunity.

Finally, be prepared for a long wait. You may have to wait months to find out whether or not you got the grant, so be patient and look into applying to other programs.