Graduate school is an investment in your future – it doesn’t have to be out of reach financially. Whether you’re returning to school after years in the workforce or continuing directly after completing your undergraduate education, there are more ways than you might think to fund your degree.
Many institutions, including Valparaiso University, offer comprehensive support to help students navigate the financial aid process and find the funding solutions that work best for their unique circumstances. Here, we’re breaking down the most common types of financial aid and where to start.
Graduate Assistantships: Earn While You Learn
One of the most valuable opportunities for graduate students is securing an assistantship. These positions allow you to gain hands-on experience in your field while helping to offset the cost of your education.
Valpo offers two types of graduate assistantships:
- Graduate assistantships: Support various University departments and athletic programs
- Research assistantships: Work directly with faculty on research projects
The key to landing an assistantship is applying early. These positions are competitive and fill quickly!
Scholarships and Fellowships
Unlike loans, scholarships and fellowships don’t need to be repaid, making them highly sought after. Graduate-level scholarships come from various sources and often focus on academic merit, research potential, or specific career goals.
Where to look for graduate scholarships:
- University-specific awards: Check out scholarships exclusively for their graduate students
- Professional organizations: Industry associations frequently provide funding for students entering their field
- Government programs: Federal and state agencies may offer scholarships for high-demand career areas
- Private foundations: Organizations focused on specific causes or demographics provide targeted funding
Start your scholarship search early and cast a wide net. Even smaller awards can add up to significant savings over the course of your program.
Federal Financial Aid: Understanding the FAFSA Form for Graduate Students
Graduate students can still benefit from federal financial aid, though the process differs slightly from undergraduate applications. You’ll need to complete the Free Application for Federal Student Aid (FAFSA) form, but as a graduate student, you’re automatically considered independent, which can work in your favor.
Key differences for graduate FAFSA form:
- Independent status: Your parents’ income won’t affect your aid eligibility
- Loan limits: Graduate students can borrow more through federal programs
- Work-study opportunities: Federal work-study positions are available on many campuses
Remember that federal aid operates on a first-come, first-served basis for many programs, so submit your FAFSA form as early as possible.
Employer Tuition Benefits: Leverage Your Current Job
If you’re currently employed, your company might offer tuition reimbursement or assistance programs. Many employers see graduate education as an investment in their workforce and are willing to help cover costs.
Common employer education benefits:
- Tuition reimbursement: Your employer pays back a portion of your tuition after course completion
- Direct payment programs: Your company pays the institution directly
- Professional development funds: Allocated budgets specifically for employee education
Check with your human resources department about available programs, and don’t assume they don’t exist just because they’re not widely advertised. Many companies offer these benefits but don’t actively promote them.
Take the Next Step
Pursuing graduate school is possible — and we’re here to help you take that first step with confidence. The financial aspect of graduate education might seem overwhelming at first, but with proper planning and knowledge of available resources, you can make your educational goals a reality. Visit valpo.edu/graduate-studies to explore programs, connect with an admission counselor, and start planning your path forward. Your future is worth the investment — and with the right financial strategy, it’s more achievable than you might think.
