I'm in! Now how do I pay for it?

[AreDee2013]

I was recently admitted to Northwestern's MA Counseling Psychology program. While I'm no doubt thrilled to get accepted into my dream program, I'm struggling to figure out how to finance it and was hoping to hear how others have done it.

My biggest concern is loans that will cripple me long term. I read about people covering most, if not all, of the sticker price through a variety means in these forums. What resources do you use? I've had difficulty figuring out where to start searching for fellowships and scholarships. How many grad students actually win those toward their tuition? Although I've looked into TA or GA positions, most assistantships are reserved for PhD students.

What percentage of the price do most people have to pay through loans?

Any help would be GREATLY appreciated!

[robot_hamster]

There are very few scholarships/fellowships available in my program. I think that only a handful of students are awarded them and they are typically only for $1000 ($500 each semester). The application process is relatively simple, but with so many students the chances aren't good. Most of the people in my program that have funding have it through a TA position. There are some RA positions, but those are mostly for PhD students. Getting a TA position, as I have learned, is pretty much hit or miss. You have to be in the right place at the right time (if an email goes out through the system, then you have to be checking your e-mail right at that second and then respond right away). I only got my position because I begged the associate director. They helped me get "in" and now I have to find a way to stay there since there are no guarantees for future semesters. My first semester was paid for through a loan, it was the entire tuition bill. With my TA position this semester, 100% of my tuition is waived. I guess my advice to you is to not rely on your adviser to help you find a TA position (if that is what you're wanting).

[AreDee2013]

Thanks for the reply. What program are you in, if I may ask? Is your assistantship in your department?

[robot_hamster]

Ecology and, yes, it is through my department. Well, sort of. It is under the larger umbrella.

Edited March 1, 2011 by robot_hamster

[eklavya]

Ecology and, yes, it is through my department. Well, sort of. It is under the larger umbrella.

i think most biology MS students get funding. all my friends (all MS) at my school and those who joined other programs got good funding for full 2 years. i do not know what goes on in other programs, but contacting few professors to see if they RA position available is a good idea. but as hamster said, don't rely on your professor. email the current grad students and find out how they've been managing. i am sure you aren't the first MA student to join this department, so others, who are already there, should be able to provide you with some pointers.

good luck!

[robot_hamster]

bhikhaari - I think that is true at my school too. But I'm not under biological sciences, that is a completely different department.

[Poppet]

*Sigh* I've been wanting to ask this question also. The masters programs I am applying to outside of Canada are very, very, very unlikely to give me funding, but it is precisely those programs I want most to attend. I spend so many hours a week with a calculator trying to determine how much money I can scrounge from various sources which will help me go to the schools with a minimum of loans - but even then, the loans alone still amount to 2-3 times the huge loans I have already taken out. I already have student debt, so adding on more doesn't appeal to me, especially when the truth is that schools in Canada will likely give me a free ride.

But, yeah, I'd really love to know how other masters students are planning on getting funding in the States since there the masters programs often seem to be unfunded.

For the record, my understanding is that you can accumulate as much debt as your expected starting salary - that is supposedly considered a manageable school debt.

[skeedy]

For the record, my understanding is that you can accumulate as much debt as your expected starting salary - that is supposedly considered a manageable school debt.

Interesting, I've never heard that before - but I'm juuuust paying off my undergrad debts right now, two years out, so I guess that makes sense (thank goodness for the Americorps Ed Awards.)

I MAY go with a program that will cover tuition, but then I'll have to take out loans for my cost of living expenses... I'm very curious about what others think is "manageable" as well!

Edit: A question - does anyone think funding can be "negotiable" for Master's programs, or is that something only common (or at least more common) at the PhD level?

Edited March 2, 2011 by skeedy

[Poppet]

I think there's room for negotiation but I have no idea what the protocol is for it, or how it works everywhere... My sister was accepted for a masters at a top-tier Canadian university (University #1) which refused to fund masters students. When she turned the school down to go to another top tier school (University #2) which had offered her funding, one of the professors in the first school contacted her and said that he'd managed to secure funding on her behalf - and not only did he get her funding, but he was willing to top whatever funding the second school had offered. So she accepted the offer, only to have University #2 contact her and top the already-topped offer by University #1! So she went to University #2 in the end. But the point is that even for a masters program, she went from no funding in the first case and regular funding in the second, to having two schools fighting over her - and ended up with around $13,000. That's comparable to PhD stipends! Given the fact that she'd obtained external scholarships totaling almost $20,000, she not only had a free ride during her masters, but she made money off of it.

So, I don't think this is a typical situation, but it appears that rivalry between departments can be healthy, and that there is some room for negotiation if schools really want you there. Like I said though, I have no idea how to initiate any bartering between schools, but I think that sending an email to the department of a school and thanking them for their acceptance but informing them that another school has offered more funding might work to your advantage in some situations.

Does anyone else know about similar situations where this kind of thing has worked?