Scholarships for graduate school can help students pay for college and supplement their income as they pursue a graduate-level academic or professional degree. Even with a variety of options to help reduce the cost of their degree, including fellowships, teaching assistantships, and stipends, graduate students face stiff competition to obtain these awards and often continue struggling to pay living expenses once they receive financial assistance. Graduate scholarships are designed to meet the unique needs of this student group as they strive to obtain their degree in the years ahead.
Amid many sacrifices, the financial commitment required to complete graduate school can have a profound effect on students, both before and after graduation. Many graduate students are faced with the financial burden of paying for school while also working a full-time job and caring for their family, and still the debt grows — totaling nearly $60,000 for the average graduate student. They may have to pass on a lucrative job opportunity with benefits or rearrange personal priorities to complete their degree, which begs the question, "Is it worth it?" For advanced professionals across a variety of in-demand fields, the answer is a resounding, "Yes!"
Whether pursuing an occupation in medicine, science, or engineering that requires an advanced degree for licensure or certification, or studying in another subject for which a graduate degree is voluntary, graduates can expect to eventually see the benefits of their decision in the long term. Workers with a master's degree out-earn those with only a bachelor's degree by an average of $12,000 a year. Additionally, though it may take some time and is contingent upon factors such as work experience, students with advanced qualifications also enjoy lower unemployment rates and may experience greater job growth in their field of choice after graduation.
Featured Online Programs
Eligibility Requirements
Eligibility requirements for graduate scholarships typically vary according to the source and type of scholarship. Scholarships may be awarded based on the academic merit, financial need, or cultural heritage of the student, or in a particular subject or industry. Awards may be offered by corporations, government agencies, universities, and professional and nonprofit organizations. Though requirements vary, students may see one or more of the following qualifiers on scholarships for graduate school applications:
A bachelor's degree from an accredited institution or current enrollment in a bachelor's program
Meet specific minimum GPA or other academic requirements
Study within a field related to the scholarship (such as business or counseling)
Legal U.S. citizen/resident
Considering employment with the scholarship's provider (if provided by a corporation or organization)
Alumnus of the relevant college or university
Participation in community service or volunteer activities related to the scholarship
Affiliation with a cultural or ethnic community related to the scholarship
The above list is merely an example of the kinds of eligibility requirements you may encounter when searching for graduate scholarships. Be sure to read through the guidelines carefully; meeting the requirements does not guarantee you will be granted the scholarship. Below are just a few of the various types of graduate scholarships available to qualified applicants: