Financing an Expensive Graduate Degree | 02.04.10

Posted in Graduate Loans by Kristin Morris

College CampusWhen it comes to financing graduate school a lot of students wonder if it is better to choose a lesser-know inexpensive school or a more well-known expensive school. Although this is completely a matter of opinion, there are a few justifications for going to a graduate school with a higher pricetag.

1: Your workplace might have a tuition reimbursement program: If you are going to graduate school while you are working you may be able to take advantage of tuition reimbursement benefits.  This means that your employer will pay for you to take classes as long as they are relevant to your field and could help you in your job.

2: Graduate students can qualify for more federal financial aid: Stafford loan limits are a lot higher for graduate students than they are for undergraduate students. In fact, the lifetime aggregate Stafford loan limit is $138,500 for graduate and professional degree students.

3: You may be able to take advantage of income based repayment: Most students coming out of graduate school have loans to pay off. If your monthly loan payments are very high after graduate school you may qualify for income based repayment.This plan helps borrowers keep payments low with caps based on their income and family size. If a borrower still has a loan balance after 25 years it is forgiven completely.

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65 Responses to “Financing an Expensive Graduate Degree”

  1. credit restoration says on March 5, 2010 at 6:31 am:

    credit restoration…

    I only wish that I had discovered this website a long time ago….

    Reply To This Comment
  2. shannon says on March 3, 2010 at 9:33 pm:

    This is my life.

    Reply To This Comment
  3. amanda says on March 3, 2010 at 12:13 am:

    Great information! I hope I remember all this for my college career. Thanks!

    Reply To This Comment
  4. Courtney says on March 2, 2010 at 5:03 am:

    Very helpful!

    Reply To This Comment
  5. Kristie says on March 2, 2010 at 2:23 am:

    i will make to remember this

    Reply To This Comment
  6. Brittany says on February 26, 2010 at 4:26 pm:

    good to know if i decide to go to grad school!

    Reply To This Comment
  7. Erin says on February 26, 2010 at 4:14 am:

    I'll keep this information in mind! Thanks!

    Reply To This Comment
  8. tamara says on February 25, 2010 at 11:30 pm:

    wow forgiven after 25 years….maybe we should keep postponing it

    Reply To This Comment
  9. ariela says on February 22, 2010 at 11:20 pm:

    this is a very helpful article… thank you.

    Reply To This Comment
  10. Britany says on February 20, 2010 at 6:20 am:

    very useful!

    Reply To This Comment
  11. jen says on February 16, 2010 at 6:29 pm:

    thanks for the advise

    Reply To This Comment
  12. Michael says on February 15, 2010 at 10:47 pm:

    very helpful

    Reply To This Comment
  13. Michael says on February 15, 2010 at 10:46 pm:

    will definitely utilize the tuition reimbursment program

    Reply To This Comment
  14. Kim says on February 13, 2010 at 9:55 am:

    When I do finish college I will remember this!

    Reply To This Comment
  15. C Capps says on February 12, 2010 at 6:10 pm:

    I think it is a great idea

    Reply To This Comment

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