Three Strategies to Save Money on the Cost of Grad School

There are many reasons why you might be thinking of going back to school to pursue a postgraduate qualification. Perhaps you’re hoping to land a job that requires you to have studied for a master’s degree in accounting, or maybe you simply don’t feel ready to give up on the student lifestyle just yet. A master’s degree can be a great way to give yourself an edge over your competition when applying for jobs, as postgraduate qualifications often hold more weight and are more respected by potential employers. But, when you have just paid thousands of dollars in tuition fees for your bachelor’s degree, the idea of forking out more money for extra study probably isn’t your favorite thought right now. So, we’ve put together some top tips to help you save on the cost of grad school.

Tip #1. Study Online

Online education is quickly becoming one of the most popular alternatives to traditional study; there are hundreds of different programs available, from nursing and medical studies to arts and media or business and finance, such as this online accounting masters degree. When you study online, you can often save a significant amount of money on tuition fees. Since online schools tend to have lower costs, this allows them to charge a lot less in terms of tuition fees for students. In general, you can expect to save around one-third when you pay for studying online.

Tip #2. Employer Funding

If you graduated from college and went on to find a job, your employer will probably benefit just as much as you do when you study for a postgraduate qualification. A master’s degree will provide you with more knowledge and skills, which can be great for your employer – if a position is available that you’re a good fit for, they can simply promote you rather than having to worry about advertising the job and finding suitable candidates. So, a good way to save on some or even all the cost of your postgraduate qualification is to ask your employer for help with funding.

Tip #3. Secure a Scholarship

Scholarships may be few and far between these days, but there are many things that you can do to improve your chances of getting one. Graduate programs typically offer scholarships to students based on merit, so it’s a good idea to apply as early as possible if you want to be in with a chance of getting the funding that you need. At many schools, scholarships are often given out by your specific academic department rather than the financial aid office. You may also want to look into other private or public organizations that provide students with funding for grad school, such as athletic scholarships.

Studying for a postgrad qualification is a great decision; not only do you get to extend your student life, you’ll also improve your chances of landing a great job once you graduate. But, covering the cost of grad school can be tricky! Did these tips help you? We’d love to hear from you in the comments.

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