Financing an Expensive Graduate Degree | 02.04.10
When 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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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.
wow college is going to be hard
wow college is going to be a lot of work
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!
i’ts hard to pay for college
This was very helpful, I wish my college had tuition reimbursements.
This helps, especially since I don’t qualify for financial aid.
This was so helpful. Thank you for all the great information. I am debating on a small private school or a larger public school.
I hope I won’t owe too much… but this information is actually really helpful!
Cool, I didn’t know that.
I wish that I find a job that provides tuition reimbursements
sweet! Wow great stuff.
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!
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.
I never knew that your job could reimburse you for college. Thanks for the tips!
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.
This is good to know.:)
Good, i see it not only depends on opinion
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.
I’m going to try and ask my job about the tuition reimbursement. Thanks for the advice.
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.
this is very helpful thanks!
This is good to know as I have only two more years of undergraduate studies to go.
I wish my organization has the tuition reimbursement benefits
That is so true many college students still owe money