How to find graduate school scholarships

Getting a master’s or doctoral degree can be a smart move for your career. Advanced degrees often lead to higher earnings and lower unemployment rates, according to the Bureau of Labor Statistics. However, the cost of grad school can be steep, with average tuition and fees exceeding $20,000 per year as reported by the National Center for Education Statistics. 

Graduate school scholarships can help ease this financial strain, making your advanced education more affordable. Scholarships are financial awards that don’t need to be repaid, covering part or all of your college expenses.

Types of graduate school scholarships 

Finding the right scholarship can make a significant difference in managing the cost of grad school. There are various types of scholarships, each with its own eligibility criteria. Knowing your options can help you target the scholarships you’re most likely to qualify for:

• Need-based scholarships: These are scholarships awarded based on your financial situation. Eligibility typically depends on your income and assets, similar to need-based college grants.
• Merit-based scholarships: These scholarships are given to graduates who excel in academics, arts, athletics, or other areas. They recognize outstanding achievements and talents. 
• Field of study scholarships: Some scholarships are specific to certain areas of study, such as MBA scholarships for business students or STEM scholarships for students in science, technology, engineering, and math fields. 
• Identity-based scholarships: These awards are given based on factors like gender, ethnicity, religion, or disability. They can also be awarded to students from certain communities or affiliations, such as veterans or first-generation college students.
• Institutional scholarships: These scholarships are offered directly by the school or institution you plan to attend, The eligibility criteria and award amounts can vary widely. 
• Research-based scholarships: You may qualify for awards to focus on your research. At the graduate school level, these may come in the form of fellowships. For example, the NSF Graduate Research Fellowship Program offers three years of financial support to STEM graduate students. 
• State scholarships: Some states offer scholarships for residents, often in specific fields. For example, New York state has the Masters in Education Teacher Incentive Scholarship for students who commit to teaching in eligible schools after graduation. There also may be scholarships from foundations that support certain students in a particular state, such as the Sachs Foundation, which provides undergraduate and graduate scholarships to Black Coloradans.
• Private scholarships: These scholarships are funded by private companies, nonprofit organizations, or foundations. They come with a variety of eligibility requirements and application processes.

Where to find graduate scholarships

The application process for graduate school scholarships can vary, but a good starting point is filling out the Free Application for Federal Student Aid (FAFSA). Many schools use your FAFSA to determine your eligibility for various types of financial aid, including scholarships, graduate student loans, and work-study programs. 

Next, contact your financial aid office and your specific department to ask about available scholarships. They often have information on school-specific awards that aren’t widely advertised. 

After taking these initial steps, you can find graduate school scholarships through a variety of websites: 

• Fastweb
• Unigo
• Bold.org
• Sallie Mae
• Scholarships.com 
• GoGrad
• CareerOneStop
• CollegeBoard
• Scholarships360
• GoingMerry 
• ScholarshipOwl
• Appily
• Scholly
• BrokeScholar 
• Niche
• Scholarship America

Current graduate student loan rates 

Scholarships for women and minorities

Women and minorities are enrolling in graduate programs at higher rates, yet they remain underrepresented according to the American Council on Education (ACE). Women across all racial groups also carry a higher share of student loan debt. To alleviate the burden, specialized grad school scholarships are available for women and minorities. 

Here are a few notable scholarships to look into: 

• WTS Helene M. Overly Memorial Scholarship: This scholarship offers eligible female graduate students in transportation-related fields up to $1,000. You must be a resident or student attending a college in Northeast Florida.
• Legal Opportunity Scholarship: Provided by the American Bar Association (ABA), this scholarship awards $15,000 to first-year law students who are underrepresented racial or ethnic minorities. 
• The Hispanic Scholarship Fund: This fund offers scholarships between $500 to $5,000 to graduate students of Hispanic heritage with demonstrated financial need.
• The (ISC)2 Women's Cybersecurity Scholarship: This scholarship offers up to $5,000 for women pursuing a degree in cybersecurity. Graduate students are eligible. 

Full-ride scholarships for grad school

Full-ride scholarships for graduate school are rare and highly competitive. To qualify, you typically need to be an exceptional candidate, and some fields of study may offer more opportunities than others. 

Your best bet is to research scholarships offered by your school and private organizations that cover all costs. Additionally, applying to multiple scholarships and combining their awards could help cover most of your expenses.

Check out: Graduate PLUS loan: Is it right for me?

Tips for a successful scholarship application 

Securing scholarships to pay for grad school can be highly competitive due to limited funding. To improve your chances, follow these tips: 

• Start early: Each scholarship may have a different deadline. Give yourself enough time to fill out the scholarship application completely and gather your materials. If you need letters of recommendation, ask right away so you have a buffer of time. 
• Get feedback: Have a friend or family member look over your application. If there’s an essay component, get feedback and support. Consider seeking advice from mentors or professors who can provide valuable insights or suggestions for improvement.
• Check everything: Before submitting your scholarship application, review it for spelling and grammar errors. Look over the instructions again. Double-check that you’ve met all of the eligibility criteria and included all required documents. 

FAQ 

Grants vs. scholarships: What’s the difference? 

Graduate school grants and scholarships are both types of gift aid that don’t require repayment. The main difference is that grants are typically based on financial need. Scholarships can be awarded for merit, field of study, or race and ethnicity, though some also consider financial need.

Are there scholarships available for all types of graduate programs?

Yes, scholarships are available for various graduate programs. Some scholarships are general and open to students in any field of study, while others are specific to certain programs. You can find them through schools, companies, nonprofits, and local community organizations.

How competitive are full-ride scholarships for graduate school? 

Full-ride scholarships for graduate school tend to be highly competitive. To qualify, you often need to be an exceptional candidate. Fellowships, which provide full funding based on merit, are another option. Both types of awards require strong academic and personal achievements.