MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY

PAYING FOR GRADUATE SCHOOL

Steps to help pay for

graduate school

1. Complete financial aid applications

The FAFSA:Required by every school

The CSS/Financial Aid PROFILE

®

Required by some schools

Your college/university financial aid applicationRequired by some schools

Submit applications by the deadline!

You will be considered

for:

College LoansDirect Unsubsidized Loan

$20,500 max per year (more for health care programs)

Perkins Loan$8,000 max per year

Other AidTEACH Grant

For teaching programs

Federal Work-StudyEarned through part-time work on campus

Massachusetts Graduate Tuition WaiverYour college/university-specific funds

2. Ask each school about

merit-based aid

Based on achievement

You might need to submit:•A separate application•An essay•A nomination

Each school will have different opportunities

3. Look For Fellowships

Start here at GradSchools.com

Ask for opportunities at each school

Prepare for academic work, training, or research

Your monetary award:•Can cover up to full cost of tuition & stipend

•Can be awarded on financial need or merit

4. Search for Teaching or Research

Assistantships

Seek out faculty to ask about opportunities

Check with individual departments at each school

Prepare for classroom instruction or research

Your monetary award:can cover up to full cost of tuition & stipend

5. Apply for Private

Scholarships

U.S. Department of Labor

Fulbright Program

Fastweb

Seek out scholarships in your field through:•Associations•Foundations•Professional Organizations

6. Research Other Ways

to Pay

Resources for Veterans and Active Military Service Members

Employer’s tuition remission

Part-time evening classes

College payment plan

7. Consider Private Loans

MEFA Graduate Loan

Graduate PLUS Loan

Loans from other banks/lenders

8. Seek Out Tax Benefits

Lifetime Learning Tax Credit

For eligible tax payers, earn up to a $2,000 tax credit based on paid

qualified school expenses

9. Take These Steps

Now

Work to establish good credit Understand your undergraduate loan repayment options Pay down current debt Start saving Practice living on a budget

Questions?Contact us:

(800) 449-MEFA (6332)www.mefa.orginfo@mefa.org