Paying for Master's Degree

[gawro1jd]

Hi all,

As the excitement of admissions decisions are waning away, I am trying to grasp the reality of paying for my master's degree. I got into my number one choice for higher education - University of Michigan - but now I am trying to figure out how I am going to pay for a program that doesn't offer assistantships.

Any advice moving forward? I've filed my FAFSA, and will have an internship during the two-years I am getting my degree, and I may receive some funding from U of M (but not guaranteed). I would really like to look into scholarships, but I am not sure where to begin. Unfortunately, my family can't really help me out here, and I'm using my Teach For America Americorps award to pay off my undergraduate loans.

Thanks!

[Psycherd12]

Although the program specifically doesn't offer assistantships, I wonder what UMich's situation regarding university-wide assistantships looks like....??

Like you, I was accepted to a master's program that didn't guarantee any funding, nor did they really help you find any. It was up to me to secure funding. My university's assistantships are super competitive, so I definitely didn't bank on getting one. However, with a lot of searching and diligence, I ended up landing both an assistantship and a fellowship.

Securing funding isn't impossible, but it does take legwork on your end to find it. I applied for anything I was eligible for, and went up against 25 other applicants for the position I have now. But I would carefully consider just how much your master's degree is going to cost, and what the expected benefit will be once you graduate. What does their job placement look like? What are typical starting salaries? Maybe talking to current students would be a good idea!