Graduate school can be a substantial financial commitment and it is important to be versed in your financial aid options. Learn more about the types of available aid and your ability to earn awards or borrow funds.
Decide What You Can Afford
Each institution will have different financial aid packages available and different criteria for selecting those who receive aid. Remember that in addition to tuition and fees you need money for food, rent, and other expenses.
Common Types of Aid
These are awards given to students with a proven academic record of achievement. Applications are generally available from graduate departments. Fellowships vary and may include a tuition waiver and a stipend. High-achieving students also consult with the Office of Global and National Fellowships.
These are teaching, research, and other staff positions that usually include a tuition waiver, a stipend, and some benefits. At MU, obtain applications from your department or from the campus department for which you want to work. Graduate Assistantships at Mizzou are also be listed on HireMizzouTigers.
- Federal Loans
Loans can be subsidized (the government pays the interest while you’re in school) or unsubsidized (you pay the interest with the possibility of deferment) and have variable interest rates.
- Federal Work-Study (FWS)
Students work to earn money over the course of an academic year. Wages and hours vary, but students make at least the minimum wage. The U.S. government pays about 75 percent of the wages and the school provides the rest. Financial Aid determines eligibility.
- Other Loans
Alternative Loans have variable interest rates and generally cost more than federal loans. PLUS Loans for are now available to eligible graduate and professional degree students. The amount varies and is based upon your cost of attendance and other aid received. A credit check is performed and other restrictions may apply.