Paying for School

One of the biggest obstacles to attendinga few weeks if you have to, but you certainly
graduate school is the question of how to pay fordon’t want to, and by careful planning
it. Tuition for one year of law school averagesand budgeting there’s no reason for
over twenty thousand dollars; at private lawthings to come to that. Be realistic about how
schools it’s around thirty thousand.much money you’ll need for food
Medical school costs are even higher. And whileevery month. And don’t forget things
non professional graduate degreeslike laundry supplies, trash bags, light bulbs,
don’t cost as much as law and medicalpersonal hygiene products, etc. They may seem
degrees, they’re still expensive,like incidentals, but if you don’t plan for
averaging closer and closer to twenty thousandthem they quickly add up. How much is basic and
dollars a year. That’s the first costlong distance phone service? And what sort of
most people think about when consideringlifestyle will you be wanting at grad school? Yes,
graduate school. The second cost, which isyou’ll often be burning the candle at
probably even bigger, is the loss of incomeboth ends, and you won’t probably
you’ll suffer while you’re inwon’t be attending many parties. But
school. You’ll certainly want to sit downwill you need cable TV? How about the occasional
with a calculator and weigh the pros and cons ofmovie rental? What about eating out once a
attending grad school. Most people who do so willweek or so? And don’t forget
find that the costs are worth it, with tuition coststransportation costs, if those apply to you. Ideally,
and loss of income being more than made up foryou could get an apartment within walking
by increased future earnings.distance of school and shopping, but
And there’s no doubt that graduatethat’s not always possible. You may
school is expensive. But if you really want towell need your own vehicle, in which case
attend, and you think you’ve got whatyou’ll be paying for at least gas and
it takes to earn an advanced degree, youinsurance. If you’re making car
shouldn’t let money worries hold youpayments, it might be best to sell the car and
back. There is lots of financial aid available forbuy a used one for cash. If you have no car,
worthy grad students. And, depending on youryou’ll need money for taxis and buses,
circumstances, there is one decision you canand car rentals on occasion. All these figures add
make which will radically reduce your grad schoolup to quite a bit, no matter how closely you
expenses. It won’t be possible orwatch your money. And then you’ve
appropriate for everyone considering grad school,got school required health insurance, possible lab
but you can save tens of thousands of dollars byfees, parking expenses, etc. Each school
enrolling in a graduate program of a publicyou’re considering should have a
university of the state in which you’resection that tells you about how much all this
a legal resident. Doing so may not be your firstcomes to for the average student, which makes
choice, but you should give it strong considerationit easy to compare different schools. But
if you’re concerned about finances, andremember, everyone’s situation is
if a public university in your state has a suitabledifferent, and your costs may well be higher or
graduate program. Alternatively, if youlower.
can’t find a program at a publicOnce you know how much grad school is going to
university in your state, be sure to look atcost you, the next step is figuring out how to
surrounding states-more and more states havepay for it. There are three main sources of funds
reciprocal agreements with neighboring statesfor grad school money. The first one, of course,
which allow each other’s residents toif yourself. If at all possible, it’s best to
attend their schools at state tuition rates.pay for as much of your graduate school as
You’ll find this information on thepossible without resorting to borrowing. Many
university website, or by contacting your statestudents have savings they can tap into, and
department of education. If neither of thesesome have parents that will assist them. One idea
options works for you, you may be able tothat many people use to fund their graduate
attend an out of state school for a year, andstudies is taking a year or two after to college to
after that be considered a resident for tuitionwork and save before getting their advanced
purposes. But some states prohibit grantingdegree. Others are married, and the
residency to someone who’s movedspouse’s income is used to support
to the state to attend school. Check with thethem while in school, and also pay for some
university.educational expenses. Another option is part time
Of course, tuition is a large part of what it willwork either during the school year, or between
cost you to go to grad school, but it’ssemesters. Many grad students find that, with
nowhere near the complete story.their considerable knowledge of a subject matter,
You’ll also be buying lots of textbooks,they’re able to make money tutoring
and as a college graduate, you know howschool kids or even college undergraduates.
expensive those can be. Then you’llOthers take part time jobs in retail stores or
need to secure housing, which will run severalother businesses which will work with them when
hundred dollars a month at a minimum. You canit comes to scheduling and flexibility. Working full
save money on housing by making yourtime while pursuing a graduate degree is
arrangements as early as possible afterextremely difficult, and not recommended. Both
you’ve been accepted-the longer youyour job and your education would suffer. But
wait, the fewer choices you’ll have,part time work can often be found, and many
and the more expensive they will be. When itstudents find it very manageable to work 20
comes to student housing it truly is the case thathours or less a week while pursuing their grad
the early bird gets the worm. The next biggeststudies. Of course, you’re the best
chunk of your budget will be groceries and relatedjudge of what you’re capable of, and
expenses. Yes, you can live on ramen noodles foryou’ll have to make your own decision.