Graduate school can be a significant financial burden, but it doesn’t have to leave you drowning in debt. With careful planning and research, there are several avenues to help you cover the cost of your advanced degree without taking out loans. My goal in my mid-twenties to go back to back to school and earn my degree with little-to-no debt. I figured that obtaining an advanced degree could help boost my income or job prospects in the future, I just didn’t want to go broke paying for a degree. Whether you’re a recent graduate, a career changer, or a former athlete, there are opportunities available to fund your education. Here are some effective ways to get your grad school paid for without adding to your debt burden.
8 Ways to Get Grad School Paid For
Scholarships and Fellowships: Many organizations and institutions offer scholarships and fellowships specifically for graduate students. As a former athlete, you might be eligible for scholarships tailored to athletes or those in specific fields of study. Research both merit-based and need-based options.
Graduate Assistantships: Many universities offer graduate assistantships, where you work as a teaching assistant, research assistant, or in another capacity in exchange for tuition waivers and sometimes a stipend. These positions often come with valuable experience in your field of study.
Employer Sponsorship. This is what I did! If you’re currently employed, your company might offer tuition reimbursement or sponsorship programs for employees pursuing advanced degrees. Many companies see the value in investing in their employees’ education, especially if it benefits the organization. Check with your employer to see if they have such a program. Keep in mind that you may be required to commit to staying with the company for a certain period after graduation, so consider this when planning your educational journey.
Grants: Look for grants available for graduate students, particularly those in specific fields of study. Grants don’t have to be repaid and are often provided by government agencies, non-profits, or professional organizations.
Athletic Alumni Programs: Some universities have special programs or funds for former athletes who want to continue their education. Reach out to your alma mater’s athletic department or alumni office to explore any available opportunities.
Teaching or Research Opportunities: If you have a strong academic background or relevant experience, you might be able to secure a position as an adjunct instructor or research associate, which could come with tuition benefits.
Service Programs: Consider programs like AmeriCorps, Teach for America, or Peace Corps, which offer education awards or other financial assistance for graduate school in exchange for service.
Military Benefits: If you or a family member are eligible, military benefits like the GI Bill can cover graduate school costs. Some programs also offer special scholarships or grants for veterans.
There are so many ways you can get grad school paid for, so don’t limit your options! For former athletes, sometimes we have the opportunity to coach or become a graduate assistant, which gives you the opportunity to stay in sports while earning your degree for free. This might not be the best option for everyone, especially if you have other career goals after sports. There are so many roles outside of sports that pay very well, giving you a triple benefit: salary, benefits and tuition reimbursement. Keep your options open and do your research before signing up for classes.