Graduate school is expensive, and scholarships can make an online master’s degree far more affordable. Unlike loans, scholarships do not need to be repaid, so they are worth pursuing before borrowing.
Public universities usually charge less than private ones, but costs still add up once fees, books, and technology are included. Start by calculating the full cost of each program on your list. Knowing the real number helps you judge how much aid you need.
Scholarships come from many sources. Schools themselves offer awards, including some aimed at online students. Private foundations, professional associations, and employers also fund scholarships. Some are based on academic merit, others on financial need, and others on background or career field. Searching broadly turns up more options.
Professional organizations in your field are a good place to look. Many offer scholarships to students entering the profession. Your employer may also help. Tuition assistance programs are common at larger companies, and they sometimes cover job-related graduate study.
Applications take work. Most ask for an essay, transcripts, and sometimes recommendation letters. Start early, since deadlines often fall months before the term begins. Tailor each essay to the award instead of reusing one generic version.
Do not overlook smaller awards. A few thousand dollars from several sources can cover a large share of tuition. Combine scholarships with federal aid, and borrow only what remains. For more help, see affordable online master’s degrees with scholarships, scholarship opportunities, and tips for maximizing financial aid.
