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Career Development Center University of Illinois Springfield

Cost Factors

Figuring out how to pay for graduate school is, you certainly know, one of the biggest obstacles of getting in. Professional graduate degrees are becoming more expensive.

  • The average annual tuition for law school exceeds twenty thousand dollars.
  • To attend a private law school, the cost is about thirty thousand dollars.
  • Medical school is even more expensive.
  • The average cost of earning non-professional degrees is nearing twenty thousand dollars annually.

Of course, there are more costs for college than just tuition. You need to take into consideration the costs of books, housing, and living. There are three main ways of financing graduate school: yourself, federally-provided student loans, and the graduate school itself.

Yourself

It is best for you if you can personally finance attending grad school. You can use your savings, ask your parents for help, or work and save your money before attending grad school. If you are married, your spouse can help you cover living costs as well as school costs. You can also work part-time during the school year, or between semesters.

Federal Loans and Work-Study

Many graduate schools as well as associated universities have work study programs that receive some Federal funds. If you take on a work-study program, you do not have to pay any loans. No matter what loan or work-study you do, always
apply early and do not put off applying. View our Financial Aid Sheet to learn more.

You can also check out these links:

 

Graduate School Assistantships and Fellowships/Scholarships

Whether you receive an assistantship, fellowship, or scholarship, you never have to repay. With an assistantship, you assist the professors with coursework, lab, or whatever else they do. A fellowship and a scholarship are virtually the same; fellowship simply sounds better than scholarship. A fellowship, or scholarship, is a cash reward that covers the cost for one-four years, and some can be renewed if you can demonstrate that you deserve a renewal.

Please see these links below for more information:

Also, please take some time to fill out some of the following worksheets:

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