Request Info
How College Finances Work

PAYING FOR GRADUATE SCHOOL

When you think about advancing your education, you know there will be a price tag associated with that goal. Fortunately, you can be excited about the possibilities that come with investing in your future ‒ a future where you’re ready to meet your challenges and pursue your career goals with confidence.

Beyond tuition, it’s a good idea to review some of the other costs that come with a graduate level education. Understanding what expenses are necessary can help you create your plan for paying for them, and being prepared for a range of potential costs can help save you time and expense in the long run.

Calculator

Tuition

Tuition costs vary depending on the number of credits you’re taking, the program you’re in, and what financing options are available to help you. Also remember that college tuition typically covers the cost of enrollment in your classes and, but not other variable costs of being a grad student, such as books, equipment or other university fees.

Wallet

Other Expenses

Your total cost of earning your graduate certificate or degree includes not only your tuition, but the indirect costs and fees required to complete your education. These additional costs might include:

  • Textbooks
  • Supplies
  • Transportation
  • Loan fees
  • Technology expenses, such as devices, software, Wi-Fi access
  • Additional costs for tutoring, dependent care, extracurricular activities, etc.

Learn more about tuition and expenses at Keller Graduate School of Management.

WAYS TO SAVE

While investing in college can feel like a stretch, there are many options available that can help you save.

Transfer Credits & Course Waivers

Military Benefits

Employer benefits

Federal Work-Study

Payment Plans

Transfer Credits & Course Waivers

If you’ve already taken classes at the graduate level, or if you’ve received corporate training, you might be able to start a step ahead with your master’s degree by transferring your credits. Not all credits qualify, so you’ll need to check with your graduate school to determine which ones are eligible.

Military Benefits

If you’ve served in the military, or if you’re active duty in any of the five branches of the U.S. Armed Forces, you or your spouse are eligible for discounted military tuition rates for undergraduate or graduate programs; through the GI Bill®.

Learn More

Employer benefits

Many employers offer tuition reimbursement or other education to their employees to help with costs of graduate school. These benefits can include waived application fees, deferred billing plans, or a direct billing arrangement between your school and your employer. Talk to your human resources department about any education benefits available to you.

Federal Work-Study

To help you offset college expenses, part-time work may be available, on or off campus, if you qualify for this program. Wages are paid directly to the student through a combination of federal and institutional or agency funds. These funds do not count against loan eligibility.

Payment Plans

Many colleges offer payment plan options so you don’t have to pay all your school expenses at one time.  Talk to the Financial Aid office at any graduate school you are considering to understand payment plan options available to you.

Grad School Scholarships, Grants and Loans

There are a range of options to look into when it comes to financial aid programs available to you to help pay for your education. Scholarships and grants are awards that usually do not need to be paid back. Loans must be repaid, so it’s important to be only borrow what you need for educational expenses. Speak to your prospective school’s Financial Aid office to find out if there are any non-loan sources of financial assistance before utilizing a loan.

Scholarships

Grants

Federal Direct Unsubsidized Loans

Federal Direct Graduate PLUS Loans

Private Loans

Scholarships

Thousands of scholarships are made available each year from a variety of sources to help graduate students pay for tuition or other education expenses. Scholarship funds to be used for college expenses typically represent money that you will not have to pay back. Scholarship search tools online can help you find awards that you might qualify for. An overview of these financial options includes:

Learn More

Grants

Grants can be aid provided by federal or state governments or other outside sources which will not need to be repaid. Find out more about Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, and more.

Learn More

Federal Direct Unsubsidized Loans

These loans are available to students with no requirement to demonstrate financial need. The student is responsible for paying the interest while in school, however the student may defer paying interest by capitalizing it, which adds it to the principal of the loan. Students who graduate, leave school, or enroll in less than half time per semester have a six-month grace period before repayment begins.

Learn More

Federal Direct Graduate PLUS Loans

These are non-need-based loans available to eligible students enrolled at least half time. This loan will require a credit check of the borrower to establish credit worthiness, the student or parent may borrow up to a maximum of unmet costs (cost of attendance) minus aid per academic year.

Learn More

Private Loans

These are loans provided by outside resources such as banks or credit unions with unique payment terms and interest rates.

Learn more about ways to manage tuition costs at Keller Graduate School of Management.

GRAD SCHOOL FINANCING CHECKLIST

When you’re ready to begin working on the process of investing in your education, there are several steps you can take to get off to a solid start:

Eligibility

Determine your eligibility for federal aid. There are a variety of requirements, ranging from citizenship to previous academic standing and loan status.

Dependency

Determine your dependency status. Additional information may be needed if you are considered a dependent of your parents or other guardians.

Documents

Gather financial documents needed to complete the Free Application for Federal Student Aid (FAFSA®).

FAFSA

Apply for your Federal Student Aid ID and complete your application at fafsa.ed.gov. If you are a dependent student, both you and a parent will need a FSA ID to electronically sign your FAFSA.

Financial Plan

Set up a meeting with your prospective school’s Financial Aid office to discuss your personalized financial plan.

Learn more about tuition and financial aid at Keller Graduate School of Management, or download our financial guide that includes checklists and other details. 

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by the VA is available at the official U.S. government website: www.benefits.va.gov/gibill.

FAFSA® is a registered trademark of the U.S. Department of Education.