{"id":10402,"date":"2021-08-09T09:32:02","date_gmt":"2021-08-09T14:32:02","guid":{"rendered":"https:\/\/abound.college\/gradschool\/?post_type=advice&p=10402"},"modified":"2022-05-18T10:20:46","modified_gmt":"2022-05-18T15:20:46","slug":"how-to-determine-the-real-cost-of-graduate-school","status":"publish","type":"advice","link":"https:\/\/abound.college\/gradschool\/advice\/how-to-determine-the-real-cost-of-graduate-school\/","title":{"rendered":"How to Determine the Real Cost of Graduate School"},"content":{"rendered":"

If you\u2019re thinking about pursuing a master\u2019s degree, you might be wondering if you can afford it. Before you can answer that question, you have to know how much it will really cost. Unfortunately, knowing the true cost of a graduate program is not as simple as it could be. There\u2019s more to the bottom line than just the tuition and fees, so how do you figure out the cost? Here are 5 helpful tips to determine the cost of your graduate program: <\/span><\/p>\n

1. Add up everything<\/strong> <\/span><\/h3>\n

In order to know the true cost of your graduate degree, you have to add up all of the expenses you will incur. Colleges often boast a cost per credit on the functional cost of attendance. But with textbooks, living expenses, technology fees,and other necessities, the true cost of a graduate program can be much higher than you expected. <\/span><\/p>\n

Navigating the financial aid process can be challenging to do on your own, which is why you should reach out to the financial aid office at your institution. They will be able to help you make sense of what aid you will receive, and what it can be used for, such as <\/span>personal expenses<\/span><\/a>! <\/span><\/p>\n

Abound: Grad school <\/span>Elmhurst University<\/span><\/a> strives to make its graduate programs as affordable as possible through competitive credit rates, alumni vouchers, and various forms of financial aid. <\/span><\/p><\/blockquote>\n

2. Measure the costs. <\/strong><\/h3>\n

What is the average cost per credit hour for graduate school? Does it depend on the program? How long is the program? The total cost of earning your degree will depend on the length of the program. Naturally, the more time you are in school, the more you will pay. Luckily, there are plenty of accelerated options that will help you earn your degree faster, saving you money in the long run. <\/span><\/p>\n

Lewis University<\/span><\/a> offers high quality, flexible, and accelerated graduate programs. Some of which can be completed in as fast as two years. Other features include 8-week courses, small classes for personalized attention, and career-focused curriculum.<\/span><\/p><\/blockquote>\n

3. Know what you can afford. <\/strong><\/h3>\n

What is a reasonable cost per credit hour? (The answer is going to depend on what you deem as affordable \u2013 and whether you\u2019ll be <\/span>working part-time<\/span><\/a> ) While you can most certainly expect a <\/span>higher salary<\/span><\/a> after graduation, it\u2019s still important to have a reasonable budget. An advisor in your institution\u2019s financial aid office can help you determine what is in your budget.<\/span><\/p>\n

4. Look for financial aid<\/h3>\n

Did you know you can file a Free Application for Federal Student Aid <\/span>FAFSA<\/span><\/a> for graduate programs? Yup, even as a grad student, you\u2019re eligible for <\/span>federal aid<\/span><\/a>. There are a few differences between your undergraduate and graduate application, such as your independent status, but the process is quite similar. This means it\u2019s quick and <\/span>free<\/span><\/i> to apply for money to put toward your education. Your institution will use your <\/span>student aid report<\/span><\/a> (SAR) to determine what kind of aid you are eligible for and dole it out accordingly.<\/span><\/p>\n

5. Look for funds elsewhere:<\/h3>\n

S<\/span>ometimes your federal aid isn\u2019t enough. But don\u2019t despair, your next choice doesn\u2019t <\/span>have<\/span><\/i> to be more student loans. There are so many creative ways to find funding for your education. And the best part? Some of these options don\u2019t have to be repaid! Here are some easy ways to look for extra cash:<\/span><\/p>\n