Continuing your education and going to graduate school to earn your master’s degree or PhD sounds like a great idea, but how do you fund such extensive education? During tough economic times, many schools have less money to fund grad students which will lower your chances of affording school. But, if you really want to up your odds, there are some things you should know. US News offers some tips on how to get financial aid for your graduate school education.

• Apply to wealthier schools. Public universities in states with stronger economies, and schools with endowments large enough or managed well enough to weather Wall Street’s collapse, have more money to hand out.
• Apply early. To lock up the best Ph.D. students, schools are making earlier offers and demanding quicker commitments, says Michael Lesk, who chairs Rutgers’s Department of Library and Information Science.
• Work the competition. The growing number of professional graduate programs, especially online, is sparking price competition. About 1,000 universities now offer masters’ in business, for example, up from about 700 in 2002.
• Think long term. Julia Mortyakova, president of the National Association of Graduate-Professional Students, says students need to think realistically about their careers and salary prospects before investing time in or spending borrowed money on graduate degrees.

With some careful planning, you can increase your chances of getting the funding you need for you advanced degree. Online masters degrees programs can also be a good option.

A scholarship is a form of financial aid that is awarded to a student based on certain qualities such as financial need, educational merit, involvement in community service, or membership in a certain group. However, each scholarship will have its own specific requirements. Scholarships vary in amount and do not have to be repaid. Often, students are required to submit certain things in order to be considered for a scholarship, including an application, FAFSA results, and an essay.
There are literally hundreds of thousands of scholarships out there, and many go unused year after year. This is because finding a scholarship requires a significant amount of time and research. This is true for online college scholarships as well as traditional college scholarships. Often, a student’s school … | Read the rest of this entry »

Many students that are considering pursuing an MBA ask themselves this question prior to enrolling in graduate school: is the cost of an MBA worth the end-result? In part, the answer depends on how hard you work, what type of program you enroll in, and the state of the economy upon your graduation. However, many studies show that MBA graduates earn significantly more than their non-MBA holding business professionals. Consider this advice from Hobsons’ MBA Central:
At a time of global economic uncertainty, MBAs from the best schools are the most attractive to employers. During a boom, almost any MBA is employable.
As for earnings, most full-time MBAs who pay their own way and attend a good school can reasonably expect to recover their fees, subsistence … | Read the rest of this entry »

Finding sources of paying for you college education can be a nightmare. There are hundreds of grants and scholarships to apply for, and, even when you get the financial aid you need, it’s not always enough to cover your living expenses. Therefore, it’s important that students know how to stretch what little money they have. Consider these money-saving tips from CollegeScholarships.org:

Get a free checking and savings account. The bank will nickel and dime you on dumb stuff like too many ATM withdrawals, too many checks written, or a funds transfer. Shop the town for banks catering to students. Make sure you can access online banking, pay bills and manage your account without attached fees.
If you have to have a credit card, make sure you get … | Read the rest of this entry »

While tuition costs are the number one concern of MBA-seekers, there are a lot of other costs that students must plan for when considering enrolling in an MBA program. Cost of living, textbooks, and software costs are just some of the other expenses of students in an MBA program. Students who are not going to work need to know all of the possible funding sources available to them. Consider these sources listed at MBAMap.com:
MBA Loans
There are a number of loan programs available to MBAs. Check to see if you are eligible for government-subsidized loans. Also, the GMAC has started the MBA LOANS program.
Scholarships
MBA programs have scholarship monies available for applicants fitting particular profiles.
Employers
Sometimes employers can be convinced to help support the costs of MBA programs. … | Read the rest of this entry »

Because online education is a relatively new institution, there has been some question as to whether or not the GI Bill, a military institution begun in 1944, would apply. The answer: It does. Considered an IHL or institute of higher learning, many online education programs are covered under the GI Bill, including non-degree programs like HVAC or other vocational certifications. According to the U.S. Department of Veteran Affairs:
The GI Bill is available for attendance at IHLs such as:

Four Year Universities
Community Colleges
Advanced Degrees

Payment is based on the number of classes you attend:

12 hours or more – fulltime
9 – 11 hours – ¾ time
6 – 8 hours – ½ time
less than 6 hours – reimbursed at a rate not to exceed the tuition & fees charged for … | Read the rest of this entry »

Signing up for a class online is a great way to check out a new career interest without giving up any other schedule commitments. However, it’s not always the most financially savvy way to figure out how much you’re interested in a new career.
One entrepreneur, boggled by the high costs of textbooks, has built a web site where curious students can take a look at potential course topics by perusing free textbooks online at TextbookRevolution.org. Meant to ease the financial burden of textbooks for enrolled students, it can also serve to assist a prospective online student in getting a feel for the material before investing the bucks.
Here’s what U.S. News reports:
The net result for students is that their book bill now averages about $900 a … | Read the rest of this entry »

The high cost of graduate school shouldn’t end your dreams of going. Best bet is to approach you finance sensibly and utilize the help that’s available. Here is some more advice.
Shaving expenses. Graduate students and aid officers say a few simple strategies can reduce the chances of being saddled with a lifetime of onerous payments. It starts at the very beginning, with the choice of grad school. But even if students don’t choose a low-cost school, they can reduce their debt while they are in school by minimizing their expenses and shopping for better rates.
About a third of all schools give their students no choice but to take their loans directly from the federal government, a policy that saves taxpayers money. The rest … | Read the rest of this entry »

The cost of college tuition has been on a steady rise over the last few years will most likely continue. How much do you think college will cost when your kids are ready to go?
If you plan early on you can put away enough money to pay for or at least help with the costs of a college education.
CNN Money offers some tips on saving for you child’s college education.
The sooner you start saving, the better.
Even modest savings can pack a punch if you give them enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8 percent average annual return.
Stocks are best for your college savings portfolio.
With tuition costs rising faster than inflation, a portfolio … | Read the rest of this entry »