Grad school applicants spend countless hours stressing over the admissions processing and wondering about whether or not they’ll get in, but they tend to forget their next-biggest source of anxiety: If they do get in, how will they pay for the whole thing? To take some of the mystery out of the financial aid process, we’ve just released The Veritas Prep Guide to Graduate School Financial Aid.
This isn’t another “Find 1,000 free loans!” service… Rather, it’s Financial Aid 101 for anyone who is about to start writing some really big checks to attend grad school. It covers grants, merit-based fellowships, subsidized federal loans, and private financing options. All of these should be part of your toolkit as you start to plan how to finance your degree.
The following are four key things you should do, starting now, as you consider how to finance your MBA, MB, or JD:
- Start early, and stay organized. While separate from admissions, the financial aid process is concurrent and equally important. Deadlines should be placed on the calendar and prioritized similar to admissions deadlines, and checklists can be very valuable in keeping everything organized.
- Doggedly search for outside funding. Searching for outside scholarships is often something that slips past graduate school applicants compared to their undergraduate counterparts. Scholarships, fellowships and writing competitions for graduate students are often listed on school websites, while independent websites also collate these opportunities.
- Carefully review the financial aid opportunities at every school of interest. While applicants generally apply to multiple schools, most applicants do not perform a thorough search of the scholarships and fellowships offered at each of the schools to which they are applying. This simple step of due diligence may reveal students qualify for a cost-savings they were otherwise unaware of.
- Emotions aside, consider the bottom line. Be willing to briefly consider the enrollment decision in purely financial terms. It sounds overly rigid, but considering how emotionally most students make their decisions, it will help balance things out to take a short period of time to consider the enrollment decision the way an accountant would.
You can download the full report for free here. If you want more help in getting into business school, law school, or medical school, call us at (800) 925-7737 and speak with a Veritas Prep admissions expert today!