As long as you don't have a felony conviction or a drug conviction, financial aid is relatively easy to get. You can expect upwards and above $16,000/ year available to you depending on your situation (are you receiving and assistantship, does that cover tuition, etc.) and all you need to do is file a fafsa with the financial aid dept. (and you have to have filed your taxes to do that...don't ask, it was stupid).

That said, depending on where you choose to go to school grad school can be very affordable or not at all affordable. I looked at school in Rutgers and here at VA Tech... at each I would have the same assistanship stipend (and restrictions...can't get a job while they're paying the measly amount they do) .... and because I chose the small town I have a huge apartment (two bedrooms, large living and kitchen rooms for $500) the money to keep two dogs, and plenty left over for good food, dining out and hitting the bars occasionally.

I LOVE small town life. So such a decision was easy for me. I also don't have any dependants (dogs excluded, they're relatively cheap) I have to worry about supporting or uprooting. But I never understood my friends who wanted the arts and excitement of big city life ... 'cause how were they going to afford it?

One thing to know before you take the plunge...and I hear this all the time... if you're coming from a real job back to school, you CAN'T save enough money before you come back. Seriously, no matter what you manage to put aside to help you out, it won't be enough because you've forgotten what living like this is like. I went straight through from BS to MS to PhD and I've managed much better than my friends who took time off to work. Not to say at all that it can't be done or that it shouldn't be done...just saying to get yourself ready for the shock of being poor again ;)

If you want more specifics on assistantships or financial aid, let me know...I check back regularly and am more than happy to send you some links or tell you about my personal experiences. :D

Um...the $16,000 isn't necessarily "subsidized" money, but it is generally available, especially to grad students (who are in a position to get much more than undergrads).

Also, any school worth its weight will provide a decent health insurance plan for very little money. But if you're dependant on any medications or regular doc. visits be sure to closely inspect that plan before you decide where to go.

hi. i'm workin' on my econ phd right now. phds usually get funding from one source or another. It is often a source of stress, however....kind of like the rest of the world.

master's, however...you're on your own. you should be able to take out loans from one source or another, but they will, in all likelihood, be loans, not grants.

if it's a professional degree than it is definitely loans, because you are the big cash cow for the school...they expect you to go off and (on average) earn lots of money.

you can find all sorts of fantastic info on everything to do with gradschool at PhinisheD

Momo

hi, im new here and saw your comment. you are probably .09% of independent grad school students who managed to keep dogs. literally, how the hell did you do that? maybe you can advise me. i'm 25 and will be going to grad school in 2009. i work now and refuse to live without a dog. so i'm getting a puppy this fall. now i live on staten island in my own place where they allow dogs, but don't know where will be going to school yet, pref. not too far. my question is, how difficult will housing (dogs allowed) will be to find, how much in loans can i get to maintain my space? this info could jeopardize my decision, so whoever can comment, please don't be shy
thanks!!

Financial aid from the government is almost completely loans. Unlike undergraduates who can rely on a certain amount of grant-based aid, grad students do not have that available (that I know of).
If you can get the subsidized loans, the government will pay the interest while you're going to school, and you can hopefully pay back all the principle soon after graduation when you get the job that made all the work worthwhile.

Some schools have internal grants available for grad students.

Depending on your department and program, you could get supported on a TA or RA (research assistant). Your best bet is to find a professor who has (or can apply for) a grant for some specific research that you can do and get supported.

Finally, there are a number of extra-curricular grants available through various agencies for grad students (NSF and DOD for example).

I'm in grad school now and was offered a teaching position for the duration, as well as a few scholarships, awarded on the basis of academic merit prior to and during my degree.

I was lucky, I am at a school (in Canada) that offered a lot of funding opportunities. Before looking into financial aid and loans, completely exhaust the scholarships and grants avenue. Keep it reasonable, though. Unless you really have to, you'll have to balance preparing occasionally immense funding proposals with the time you have to complete them. By exhaust, I mean research and gun for a few that you have a reasonable chance of getting.

In the province of Ontario, in my field, I also have the opportunity to apply for two major government funding sources, OGS (Ontario Graduate Scholarship) and SSHRC (Social Sciences and Humanities Research Council). These are grants, not loans. Check if you have something like that in your area.

I have a friend in the faculty who is actually making a net profit after tuition and living expenses because of all the grants and scholarships he got! :eek: