A number of Brazen Careerist bloggers have been posting about decisions to NOT go to grad school. What I’ve yet to see pointed out by any of the bloggers is that there are ways to make grad school affordable. While it does matter to some extent what field of study you’re interested in, there are ways to make grad school affordable.
Location, Location, Location
While researching the program of your choice, you might find out that some of the best ones are at state schools, which are typically much cheaper than private ones. Publicly funded universities typically have different rates for in-state versus out-of-state students. MOVE and establish your residency in the state with the most opportunities for the programs you’re interested in. If you’re already working for a company with an office in that state, ask about transferring. Otherwise, be prepared to squirrel some money away, and take a risk.
Case in point: California has an amazing public higher education system. And it’s relatively affordable. Several years ago, a friend moved to Los Angeles from Ohio with the intention of getting a job and establishing residency. He plans to apply to graduate programs in the fall, and several of his top choices are in Southern California within the University of California system.
Work for a university
If you know you want to go back to school for a particular degree, try to get hired at a school that offers the program you are interested in. Just like big corporations, universities have departments for PR, accounting, marketing, business development, event planning, etc. These roles are not just centralized, but are scattered across different schools on campus. Universities are frequently the largest employers in their respective communities.
The perks of working for a university?
- Tuition remission: Universities typically cover the cost of their employees completing an advanced degree, or a college degree if you still need to cover step one. The children of employees frequently have access to free or heavily discounted education at the same institution if accepted.
- Health insurance: student health insurance is freakishly comprehensive at many schools and affordable. As an employee, you have access to that same coverage. Your friends will be jealous.
Case in point: A friend of mine is doing his MFA in Creative Writing. To cut back on costs, he got a job in the school’s opthamology department part time. Accordingly, he receives tuition remission, benefits and some cash for his time.
Funded programs — you can actually get paid to go to school.
If you’re doing your PhD, you better be applying to partially or fully funded programs. While you won’t be living in a luxury loft apartment, the cost of living is generally factored in to what they pay you. Typically you serve as a teaching assistant to a professor in the classroom or a research assistant to a professor working in your target niche. Depending on the school’s financial strength, you might need to get a part time job outside of your university responsibilities
Yes, these programs are more competitive, but they also tend to be more prestigious, which may or may not help you down the road. You’re not only competing with you peers domestically, but the best and brightest around the globe that want to study in your field.
Bonus: Depending on your field of study and the size of the university, you just might find you can do your Masters degree for (almost) free, as well. I served as a teaching assistant for the duration of mine because there weren’t enough PhD students to cover the teaching load and wound up with a heavily discounted degree. Thus, I typically stay very quiet when people are complaining about the cost of graduate education, unless being asked directly about it.
Tip: If you’re a competitive candidate, and the university is interested in you, don’t be afraid to ask about funding options. A MA student I know, upon being accepted, told admissions that she’d love to do her graduate work at their school, but she needed half funding; she got it.
Caveat: if you’re an international student (to the US), your visa typically blocks you from picking up extra work outside your university funding. Thus, you want to find the best funding for your cost of living in a given city before committing to a university.
Outside funding
Depending on your field of study, outside organizations might be willing to (partially) fund you. You need to get creative, and find all the scholarship opportunities available to you. A friend of mine is doing her PhD in Public Health and is partially funded by national non-profit that draws awareness to a certain societal issue. Her research focuses on that issue, and she worries less about paying the bills.
The World is Flat
Yes, the exchange rates is abysmal right now, but you might consider doing your graduate work abroad. Not only will you have a Masters degree, but you’ll also have international experience, which could give you and edge in interviewing.
Caveat: The cost of degrees is much cheaper overseas, but you may need to work harder to drum up funding upfront.
Depending on your graduate study of choice, the above solutions may help you, particularly if you’re interested in the liberal arts or sciences. For law school, med school and business school, just some of the above apply.
Regardless of your interest, remember that there are always ways to cut corners and costs, you just have to get creative. Please share your own creative funding experiences below.
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