The best kind of financial aid is money you don't have to pay back, such as scholarships, fellowships, and grants. Grants for graduate students can be the difference between earning an advanced degree and ending at the bachelor’s level. But while scholarships are often merit-based, grants are more likely to be need-based. There are many grants available if you know where to look. The following includes a basic overview of the types of grants available.
There has been an increase in career-specific grants, funding given to students focusing on a specific career goal. If you are undecided, or open to any major, consider pursuing a profession in high-demand fields. These high-demand areas of study include foreign language, special education, math, and science. If your career objectives include a specialized role, or advanced position, you might find grant funding that specifically supports your goals.
For example, the TEACH Grant is a non-need based grant awarded to students completing a master’s degree in specific education disciplines.
Another good source for funding is college-specific grants. Your search for funding should include schools that specialize in the field you are interested in. Many colleges have grant funds set up by specific departments or by the alumni, which can be used towards opportunities that will give you valuable experience and enhance your professional credentials—such as internships, academic research, and other career advancement activities.
Opportunities are widespread and highly individualized by the universities that offer them, so it is up to you to uncover what opportunities your school gives graduate students. Financial aid professionals and program administrators can also provide valuable insight into available aid. Here are a few examples from well-known colleges:...