Graduate school can be an extremely costly endeavor, but it doesn’t have to be! If you’re considering applying to graduate school, you should also consider applying for scholarship opportunities. Scholarships are a great way to offset the cost of graduate education so you can focus on your academic career, and not your finances.
How Common are Graduate School Scholarships?
Graduate school scholarships are less prevalent and more accessible to receive than undergraduate scholarships. This does not mean they are impossible, however. Thousands of graduate-level scholarships are available; you just need to know where to look. Graduate scholarships are often listed on a school’s financial aid webpage, so that is a good place to start.
Here is just one list of potential scholarships available to graduate-level students. Graduate scholarships are typically awarded based on academic and professional achievements. They are separate from grants, however, which are based on financial need. Be sure to check if the scholarship(s) are available to all graduate students as opposed to only master’s students, as this is sometimes the case. You can always contact the provider directly to confirm whether you are eligible for a scholarship.
Myths and Facts about Graduate School Scholarships
Don’t let yourself be a victim of scholarship misinformation! We’ve debunked the following common misconceptions about graduate school scholarships:
Scholarships are based on your financial status.
This is not true. Scholarships are based on achievements, as opposed to grants, which are awarded based on finances.
It’s too hard to apply for scholarships.
Each scholarship will have different requirements, so just because one requires you to jump through a lot of hoops to apply for doesn’t mean they all will be like that. And while there typically are a series of steps you must go through when filling out a scholarship application, it’s usually not more arduous than applying for graduate school. Plus, the payoff should be worth it! Just read the directions thoroughly and keep a spreadsheet to stay organized if you’re applying for more than one scholarship.
It’s not worth it to apply for small scholarships.
If someone handed you $500 on the street, would you turn it down because it’s not “enough”? A little bit goes a long way! Many people avoid the smaller scholarships because they don’t think the payoff is worth it, but it’s better than nothing! $500 can cover your books for an entire semester. Plus, sometimes smaller scholarships are easier because so many people believe they’re not worth it, so there’s less competition. Which brings me to my next myth…
Scholarships are too competitive.
There are literally over one million scholarships available. A few of them are indeed highly competitive, but the majority of them are not. Don’t let this common myth keep you from receiving free money! Do your research and follow the directions carefully; this will already set you apart from other students who rush through the application process.
Scholarships are suitable for all four years of school.
Don’t make the mistake that just because you were awarded a scholarship once means you’ll get it every year. Read the fine print; some scholarships require you to apply for them yearly. Also, make sure you continue to fit the criteria for the scholarship each year, and that you don’t do something that makes you ineligible.
How to Increase Your Chances of Getting a Graduate School Scholarship
Do your research.
We touched on this several times above, but a million scholarships are available. There’s no reason why you wouldn’t qualify for at least one, and likely more than one. Take the time to research your options, and don’t forget to check local sources. Often, community groups and organizations offer scholarships, and you’re more likely to receive them if you’re local to the community. Oftentimes, people overlook these, and then no one applies, and the money goes to waste that year! That money could be yours if you try to search for it.
Stay organized.
We recommend applying for more than one scholarship, but this can get confusing since the requirements for scholarships are generally different. Some might require you to write an essay, while others have a written application, and others might want professional references. We suggest creating a scholarship spreadsheet that lists all the scholarships you’re applying for, plus their individual requirements. Then, you can check off the boxes as you complete each requirement. You want to take advantage of a financial opportunity just because you forgot to complete part of the application.
Don’t skip the small ones.
They really do add up, and you can apply for as many as you want! A handful of small scholarships could pay for your books, your room and board, supplies, and more!
Here is another great resource to call on if you’re trying to find scholarship opportunities; enter your information and be amazed at the scholarships available! Happy hunting!
Educators never stop learning; check out our available graduate degree programs to hone your skills and promote lifelong learning and academic excellence.
