The MONEY MATTERS category on the left is aimed at helping students identify possible sources of financial aid funds and extra income, as well as give practical suggestions that will help cultivate a more positive view of their financial situation while in graduate school.
One of the main things that can be particularly discouraging to graduate students is the lack of financial stability that often comes with the territory. In short: We need money! This can be a particularly difficult situation for even the most motivated of graduate students. If you were not fortunate enough to have complete funding for your education with a hefty stipend (which let’s face it; it’s not as common of a situation as it used to be), then likely you are making use of student loans and whatever other funds you can earn in your very limited spare time.
While financial stress in grad school can become overwhelming for many students, please keep in mind that these troubles will eventually pass. There are some things that you can do, however, to ensure that you are using all of the resources that are available to you as a student that will make your financial situation a little bit more stable.
MAKE SURE THAT YOU ARE UTILIZING ALL “FINANCIAL AID” RESOURCES TO YOUR BENEFIT!
I am not suggesting that you loan out the maximum amount of the student loans available to you (unless you absolutely need them to cover tuition). Rather, I am suggesting that you take advantage of all available FREE money. While most students are very familiar with the FAFSA (Free Application for Federal Student Aid) process by the time they enter a graduate program, there are other sources of grant and scholarship funds that are out there. A visit to the scholarship office on campus will be helpful in finding money that might be available to you.
Even if you take full advantage of all grants, federal aid, and scholarship opportunities, you may still need to earn extra money. Most students still have to pay bills and living expenses. Even if these expenses are fairly reasonable, after all the classes, research, and writing, many students find it difficult to muster the extra energy for secular work. A combination of cutting expenses, utilizing your unique skill set, and adopting a resourceful attitude will be a great help in getting the extra funds needed to survive in grad school.
Article by Heather Blanchard
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