How Grad Students Can Get Money for School

My career is going nowhere. I have been working at the same place for five years, and am still doing the same things I did back when I started. In other words, there has been no professional growth, no increase in responsibilities, no promotion, and no significant salary boost. I can't imagine sticking around here for much longer, so I've been quietly checking out available positions at other firms. It looks like at my age and experience level, most employers expect candidates to have a Master's degree. Since that's the case, I need to find a way to get money for school so I can head back for additional qualifications.

Of course, lots of students are interesting in learning how to get money for school. Colleges and universities hike tuition fees every single year, a practice that really takes its toll -- especially when the economy is as bad as it is now. Most people have trouble paying for books and classes even in a good year, so the problems are amplified in times like this. Fortunately, there are still several good ways for prospective graduate students to get money for school.

A majority of the information online is aimed at undergrads trying to finance a Bachelor's degree, but many of the same options apply to grad students as well. For example, the government remains the number one institution to turn to when you need money for school. As such, I fully plan on applying for as many government loans and grants as possible in order to offset the expense of pursuing an advanced degree.

Another way I can get money for school is from my employer. That's one advantage that I have over the latest crop of 18-year-olds who are entering college for the first time. One of the few perks of working at this place is that my employer offers tuition reimbursement for classes that are directly related to my field. They will pay for up to 80 percent of my books and fees, which is an amazing rate.

There are two drawbacks, however. First, they cap the spending at a limited amount per calendar year, so I'd have to take a lighter class load than usual. And second, they would require me to sign a contract stating that I'll stay on with the company for a certain number of years if I accept money for school. I'm not sure that I'm wiling to make that kind of commitment, though.

And finally, I might be able to get money for school by applying for scholarships, fellowships, and research grants. These are the traditional ways that graduate students pay for their advanced degrees, so competition for the funds is probably pretty fierce. Still, I have to give it a try.

Even though my career has just about completely stalled at this point, I'm not giving up on myself. It's time to get some more education and see where a Master's degree takes me. Once I obtain money for school from one or more of these sources, I'll be back on track!

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