February 8, 2007

Money for Graduate students – there’s just less of it

Posted in Graduate Students, Grants, Scholarships, Stafford Loans at 8:30 AM by Joe From Boston

There is simply less money available for graduate students than undergraduates according to a recent article from the Wall Street Journal. A paid subscription may be required to view the entire article.

Money for Grad Students

By Diana Ransom

When the U.S. House of Representatives recently voted to halve interest rates on some student loans, it left out an entire class of borrowers: graduate students.

Twentysomethings considering going to grad school should also know that there is less federal grant money available than for undergraduates.

Still, there are various types of financial assistance available:

According to 2006 data from the College Board, graduate and professional students use loans to fund 69% of their education costs, while undergraduates rely on loans for 52% of their funding. Students who received master’s degrees in 2004 graduated owing an average $27,000 in debt, …

1 Comment »

  1. That’s a huge amount of debt to leave school with. Most people graduate and still do not know what career path they wish to take, but now they have to make sure that they choose a path that will pay for the cost of living as well as their $27,000 debt.

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