Financing an Expensive Graduate Degree | 02.04.10

Posted in Graduate Loans By Student Loan Network Staff

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. krishna kisi says on February 11, 2010 at 8:49 pm:

    good to know

    Reply To This Comment
  2. Amanda says on February 11, 2010 at 7:57 pm:

    i did not know graduate students qualify for more federal financial aid than undergrads.

    Reply To This Comment
  3. Cherri says on February 11, 2010 at 4:40 pm:

    cool beans

    Reply To This Comment
  4. Kevin says on February 11, 2010 at 4:07 pm:

    Great informational article. Wish scholarships or grants were easier to come by.

    Reply To This Comment
  5. Brittany says on February 11, 2010 at 3:15 pm:

    Nice article, just wish there were more options list. It would also be nice if more companies offered tuition reimbursement – it would help alot with my upcoming graduate courses.

    Reply To This Comment
  6. Carolyn Morway says on February 11, 2010 at 3:05 pm:

    I would like to learn more about companies paying off student loans. Are there corporations who advertise this benefit as part of an employment package?

    Reply To This Comment
  7. Antigone says on February 11, 2010 at 1:39 pm:

    When I do finish college I will remember this!

    Reply To This Comment
  8. kumah says on February 11, 2010 at 8:22 am:

    yes that is true but it will be helpful if the workplaces assist bit when one is furthering his education

    Reply To This Comment
  9. Lovoro Baker says on February 11, 2010 at 12:57 am:

    I think the tuition reimbursement is a great thing for college students that will be going into a healthcare major because most places will participate in this program. It is wonderful how some companies will pay for your education. I did learn a lot about the income based repayment on a loan. That is great to here that the loan companies have a repayment option like that. It takes the stress off of wondering how you will pay back your loans if you can’t make enough money in the begining of your job.

    Reply To This Comment
  10. Brittani says on February 10, 2010 at 11:25 pm:

    Paying to attend a university is a scary thing to think about since now I am fully covered by financial aid in a junior college, and I know the cost of attendance is soo much more anywhere else.

    Reply To This Comment
  11. Simorey says on February 10, 2010 at 10:53 pm:

    Sad a person trying to become more educated has to struggle with the expensive tuition of grad school.

    Reply To This Comment
  12. Cam says on February 10, 2010 at 10:16 pm:

    These are great tips for me to look into for grad school. Its such a pain having to come up with all that money.

    Reply To This Comment
  13. Valerie says on February 10, 2010 at 8:49 pm:

    Thank you for the help, any bit helps when it comes to paying for school!

    Reply To This Comment
  14. Lee-Ann says on February 10, 2010 at 8:24 pm:

    wow I hope I dont have to deal with too much debt.

    Reply To This Comment
  15. maira says on February 10, 2010 at 8:22 pm:

    this is really helpful and thanks for the information that yous bring us

    Reply To This Comment
  16. Whitney says on February 10, 2010 at 7:00 pm:

    You should also apply for graduate teaching assistantships

    Reply To This Comment
  17. stephen says on February 10, 2010 at 5:01 pm:

    In this economy students should not expect any assistance from their employer, if they get it, consider it a blessing. Most likely loans will be involved and my opinion is the better name university is worth the money. After all, most people come out with the same education but its the name that will get you the job.

    Reply To This Comment
  18. Hannabanana says on February 9, 2010 at 2:06 am:

    That is really neat that a workplace might assist you in furthering your education! great deal.

    Reply To This Comment
  19. Andrew says on February 9, 2010 at 12:11 am:

    What an eye opener!

    Reply To This Comment
  20. Kyle says on February 8, 2010 at 7:32 pm:

    im going to be 43k in the hole soon

    Reply To This Comment
  21. Kelly says on February 8, 2010 at 6:15 pm:

    I did not think of considering a college with that point of view

    Reply To This Comment
  22. Freyja says on February 8, 2010 at 3:55 pm:

    There has to be a better way than taking out more loans!

    Reply To This Comment
  23. dominga says on February 8, 2010 at 12:58 pm:

    that is so true that many student have to work to pay their colleg

    Reply To This Comment
  24. dominga says on February 8, 2010 at 12:55 pm:

    that is so true that many students have to work and pay college

    Reply To This Comment
  25. Concha says on February 7, 2010 at 5:42 pm:

    WHOA!! I did not know this.. this is really helpful to know. I’m glad some buisnesses do this

    Reply To This Comment

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