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. Heather says on February 7, 2010 at 5:04 pm:

    The tuition reimbursement benefits is a great idea. It’s hard enough for students to pay their way through college without having a job, but jobs take so much time and attention. I agree with Alex.

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  2. michael says on February 7, 2010 at 4:53 pm:

    wow college is going to be hard

    Reply To This Comment
  3. michael says on February 7, 2010 at 4:52 pm:

    wow college is going to be a lot of work

    Reply To This Comment
  4. Stephanie says on February 7, 2010 at 4:40 pm:

    yep a lesser known college will be less expensive and you may play a role in making it a well known college when you graduate there and become well known yourself!

    Reply To This Comment
  5. daisy says on February 7, 2010 at 12:22 am:

    i’ts hard to pay for college

    Reply To This Comment
  6. Steph says on February 6, 2010 at 11:49 pm:

    This was very helpful, I wish my college had tuition reimbursements.

    Reply To This Comment
  7. Lauren says on February 6, 2010 at 10:43 pm:

    This helps, especially since I don’t qualify for financial aid. :(

    Reply To This Comment
  8. Brittany says on February 6, 2010 at 8:14 pm:

    This was so helpful. Thank you for all the great information. I am debating on a small private school or a larger public school.

    Reply To This Comment
  9. Rebecca says on February 6, 2010 at 7:58 pm:

    I hope I won’t owe too much… but this information is actually really helpful!

    Reply To This Comment
  10. Taylor says on February 6, 2010 at 4:57 pm:

    Cool, I didn’t know that.

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  11. Brittani says on February 6, 2010 at 4:53 pm:

    I wish that I find a job that provides tuition reimbursements

    Reply To This Comment
  12. Yaneli says on February 6, 2010 at 2:23 pm:

    sweet! Wow great stuff.

    Reply To This Comment
  13. Amanda says on February 6, 2010 at 11:17 am:

    It saddens me that we want to earn a degree but we are left in debt. Look at the economy right now, the unemployment rate. Is it worth it if later we cannot find a job? I sure am going to try!

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  14. Amanda says on February 6, 2010 at 11:14 am:

    It saddens me that students want to work hard and graduate but are left with so much to pay. Look at the economy right now, the unemployment rate. Is it worth getting a degree? I sure want to but I do not want to be left with the debt.

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  15. Rachel says on February 5, 2010 at 10:00 pm:

    I never knew that your job could reimburse you for college. Thanks for the tips!

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  16. Jon says on February 5, 2010 at 8:26 pm:

    A more expensive graduate school may equate to better facilities in specific areas of interest such as a robotics research lab for graduate students studying that subject. Views and decisions regarding graduate schools should depend on affordability, potential for financial aid, quality of education, interests, long-term goals, etc.

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  17. moriah says on February 5, 2010 at 4:46 pm:

    This is good to know.:)

    Reply To This Comment
  18. Mary says on February 5, 2010 at 2:27 pm:

    Good, i see it not only depends on opinion

    Reply To This Comment
  19. Ana says on February 5, 2010 at 12:06 pm:

    It was interesting about the tuition reimbursement thing. I’ll try to get into that to get more money. I didn’t know about this.

    Reply To This Comment
  20. XIOMARA says on February 4, 2010 at 9:24 pm:

    I’m going to try and ask my job about the tuition reimbursement. Thanks for the advice.

    Reply To This Comment
  21. Alex says on February 4, 2010 at 7:09 pm:

    I think it is great that some businesses will do this because in todays society we are practically required to have a degree to get hired. We should be reimbursed for all the years of schooling we must go through.

    Reply To This Comment
  22. ayecie says on February 4, 2010 at 6:34 pm:

    this is very helpful thanks!

    Reply To This Comment
  23. Paige says on February 4, 2010 at 5:58 pm:

    This is good to know as I have only two more years of undergraduate studies to go.

    Reply To This Comment
  24. yanti says on February 4, 2010 at 4:46 pm:

    I wish my organization has the tuition reimbursement benefits :(

    Reply To This Comment
  25. Juana says on February 4, 2010 at 4:11 pm:

    That is so true many college students still owe money

    Reply To This Comment

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