Costs for graduate studies begin to add up before you start your program. Phone calls, admissions exams, score reports, copying fees, campus visits, postage (to send all of those applications) and moving are some of the pre-matriculation expenses you will incur.
Once you begin your program there are expenses such as tuition, food, rent, insurance, university fees (e.g., technology and health center fees), and other living expenses. Paying for graduate school can be very difficult if you do not have a plan.
Be sure to take the cost of living and tuition into account when finalizing your graduate program choice. Unfortunately, the financial aspect of graduate studies is a very real concern and should be a part of your selection process.
After you have received your acceptance letters and have narrowed your choices down to 2 or 3 schools, get in touch with each university's financial aid office. Ask them tough questions about getting aid, grants, and scholarships. What opportunities are available? If you are looking at a state university, find out if it is possible to become a state resident and how to go about the process. Also, you should inquire about tuition payment plans. Often these allow you to pay your tuition bill over several months, rather than one large payment in August and January.
When you are close to making your final decision, you should also investigate that possibility of employment through your program and/or department. Sometimes, during the application process, you will be asked if you want to be considered for assistantships. Acceptance offers will thus sometimes include an offer for an assistantship. Teaching and/or research assistantships are excellent ways to gain experience and fund your graduate studies. Often these assistantships carry tuition waivers or scholarships, making your costs even lower.
Finally, and almost expectantly, begin saving now for graduate school. You may only have a few dollars saved by the time you begin, but this small amount can go a long way the first few months of your program. This method is by far preferable to using credit cards or other credit accounts that can quickly become burdensome.
