Top Scholarships for Graduate Students with Upcoming Deadlines

Education is a double-edged sword: it's among the most effective ways to gain knowledge and accrue wealth. In 2022, the National Center for Education Statistics reported that employees with a graduate degree earned, on average, 20% more income than those with a bachelor's.

A graduate degree can set you up for success and position you ahead of your peers, but only if your earning potential outweighs any student debt you incur. Minimizing debt is one of the most important things you can do in graduate school. Applying for graduate school scholarships is an effective way to save money and maximize your income once you start working.

In this guide, we'll help you finish your graduate degree with as little debt as possible. Here's what we'll provide:

1. List of exclusive graduate school scholarships
2. Tips on how to apply and win scholarships
3. Types of financial aid for graduate students (fellowships, tuition reimbursement, etc.)
4. Resources for graduate students (National Science Foundation, American Historical Association, etc.)

Winning scholarships and working in paid fellowships are among the most effective ways to budget for graduate school. It's also important to accurately estimate how much your degree will cost and how much you'll need to pay out of pocket. The average cost of a master's degree is $62,820, though this will vary between schools, the duration of the graduate program, and the area of study.

Get started planning your budget with these estimates on the average costs of graduate school, from the least to most expensive degrees. Data is sourced from the Education Data Initiative's statistics on master's programs, law school, and medical school.

1. Master's degree in Education: $44,640
2. Master's degree in Business Administration: $60,410
3. Master's degree in Science: $61,380
4. Master's degree in Arts: $71,140
5. Law school: $230,163
6. Medical school: $238,420

We'll provide you with scholarships for each of the graduate programs listed, among other opportunities. With that in mind, let's dive into the best graduate school scholarships for the average graduate student, plus scholarships by area of academic interest and more.

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The Top Scholarships for Graduate School Students

Graduate school scholarships can help cover tuition fees and assist with federal student loans, easing the financial burden and allowing you to focus more on your studies.

These scholarships are funded by various sources, including private organizations, government agencies, and professional associations. They can be merit-based, need-based, or awarded based on specific criteria such as field of study, demographic factors, or research interests.

General Graduate Scholarships

1. Merit-Based Scholarships for Graduate Students

Students with high test scores or GPAs can apply for these merit-based scholarships. As a graduate school applicant, you'll likely have above-average scores or other academic achievements that will make you a competitive candidate for these merit scholarships. Check each scholarship for different GPA cutoffs and required documents, like transcripts.

2. Need-Based Scholarships for Graduate Students

Not many students qualify to pay the entirety of their grad school bill out of pocket. Aside from filling out the FAFSA, apply for these need-based financial aid grants to make up the difference. With a combination of financial aid packages, your graduate school expenses can be manageable.

3. Grants to Pay Off Student Loans

Similarly, these grants can help students who demonstrate financial need. Apply whether you're still in graduate school or a fresh graduate. Some may help repay federal student loans, while others offer general financial aid packages. Many graduate students incur some loan debt regardless of their finances, meaning you'll likely be able to apply for these scholarship opportunities.

4. Minorities Scholarships for Graduate Students

Students of color seeking a master's or other higher degree may apply to these financial aid opportunities. As scholarships for minorities have more specific requirements for who can apply, eligible candidates may face less competition.

5. Gap Year Scholarships

Many graduate schools have competitive admissions processes, particularly medical schools. Unlike academic scholarships, gap year scholarships offered to grad students may also help pay for living expenses, depending on the eligibility requirements. A gap year can also give you time to stock up a budget for your tuition. Earning some money first means you can shift your attention to paying attention in class after you enroll.

Graduate School Scholarships for Popular Degrees

First, let's look at scholarships for some of the most popular graduate degrees. Refer to the data above if you'd like a general idea of how much each will cost you. Average tuition costs will vary between schools, but we've ordered this list from least expensive to most expensive graduate programs.

1. Master's in Education Scholarships

Education is important in every community. There are several federal and state-funded programs to help teachers finish their degrees. If you plan to become an educator, apply for these education scholarships, and also be sure to check out the TEACH grant, which offers up to $4,000 to students pursuing a degree in teaching. The TEACH grant is conditional on students completing a teaching service obligation.

1. Early Childhood Education Scholarships
2. English Major Scholarships
3. TEACH Grant
4. Teacher Scholarships

2. Master's in Business Administration Scholarships

Business administration is one program for which companies often provide tuition reimbursement. If you've already established professional ties with an employer or are already working, ask about employer tuition reimbursement. That, coupled with the scholarships in this list, can help you graduate with little to no debt.

3. Master's in Science Scholarships

A Master's in Science is a broad field that could cover computer science, data science, psychology, and more. Apply for any science grants you're eligible for on this list, as well as these more major-specific graduate scholarships in science.

1. Computer Science Scholarships
2. Cybersecurity Scholarships
3. Engineering Scholarships
4. Math Scholarships
5. STEM Scholarships
6. Tech Scholarships

4. Master's in Arts Scholarships

Like science, art has several sub-categories, like performing arts, graphic design, and other fields. We'll list some niche scholarships for graduate students pursuing art as well. In a competitive and oversaturated field like art, an advanced degree can set you apart and make you a more viable candidate for employment. Apply for the scholarships in this list to avoid incurring too much debt from private student loans.

1. Fashion Scholarships
2. Film Scholarships
3. Graphic Design Scholarships
4. Music Scholarships
5. Performing Arts Scholarships
6. Photography Scholarships

5. Law School Scholarships

Planning for law school means financial aid for both undergraduate and graduate students. Apply for pre-law and law school scholarships to build up a budget and prevent yourself from accumulating debt. Remember that you can apply for scholarships at any time during your undergrad or graduate school years!

6. Medical School Scholarships

Last, but by no means the least expensive, we have medical school scholarships. Doctoral students will likely need to apply for federal financial aid, medical school scholarships, and research grants to afford their education. Start with these scholarships for medical school students and consider other STEM or life sciences scholarships for your major, or occupation-related scholarships like these:

1. Biology Scholarships
2. Healthcare Scholarships
3. Dental School Scholarships
4. Medical Assistant Scholarships
5. Occupational Therapy Scholarships
6. Physician Assistant Scholarships

Why a Graduate Degree Matters

Unlike an undergraduate degree, graduate school and doctoral programs come with their own set of unique costs, like application fees, interview prep, and other enrollment expenses. Compared to your undergrad degree, graduate school is a different beast altogether. The application process is grueling, and so are the classes if you're lucky enough to get into the grad program of your choice.

Graduate school can be a smart investment when done correctly. To make your graduate studies worthwhile, you'll need tuition assistance and measurable academic benefits that will make you a competitive candidate for employment.

Bachelor's degree holders earn an average of $3 million over the course of their careers, while master's degree holders are projected to earn $3.5 million. Considering that difference, master's programs are likely worthwhile if you can maintain a healthy financial status during school.

Getting the Most Out of Your Graduate Degree

Considering what you're paying for, be strategic about how you pay for grad school and what resources you graduate with.

Besides your degree, measurable academic benefits could be becoming a student member of a professional organization, which can provide you with a valuable network of connections. Talk to your professors, too: a personal referral link from a peer or professor could go a long way in the workforce. Remember that there's more to a graduate education beyond just your diploma. Leverage every resource your school offers to make sure you're getting what you paid for.

In addition, use your school's connections to gain as much real-world experience as possible. Showing that you can apply what you've learned in the classroom is key. Especially for students pursuing doctoral degrees, search for research, lab, and other positions through your university to prove to employers you know what you're doing.

Experience doesn't have to be solely academic. Consider other prospects as well, like mentoring a high school senior in your area of study, or other projects to demonstrate your knowledge. These experiences can also help you gain grant and scholarship funding.

Different Forms of Financial Aid for Graduate Students

Paying for graduate school can add a lot of stress to an already busy life. Balancing school, work, and family is challenging enough without the added financial strain of grad school tuition on top of your undergrad expenses. Luckily, there are scholarships specifically designed to help with these costs.

Undergraduate students interested in graduate school programs like law school or med school should explore funding opportunities and application resources to achieve their academic goals.

Graduate programs are pretty different from undergraduate programs, and there are different types of degrees you can earn depending on the school, department, or program you get accepted into. Earning scholarships is a great way to offset the cost of tuition and other expenses, but there are many types of scholarships that are exclusive to graduate students, which should help your chances. 

Fellowships and Grants 

Fellowships and grants are financial awards you’re more likely to find at the graduate level. Grants usually depend on your financial need and can come from federal, state, or private sources. Fellowships, on the other hand, are often awarded based on your potential and are meant to support your research or career goals.

Teaching Assistantships

Teaching assistantships offer financial support by requiring students to take on teaching responsibilities or assist professors with their courses. In addition to a stipend, these positions often come with tuition coverage, making them a valuable option for funding your education. Teaching assistants may lead discussion sections, grade assignments, or provide support during lectures, gaining valuable experience in teaching and academia.

Graduate Assistantships

Graduate assistantships provide financial aid in exchange for work that supports research, administrative tasks, or other functions within the academic department. These roles often include a stipend and may also offer tuition remission. Responsibilities can vary widely, from conducting research and managing data to assisting with departmental activities or student services. This type of assistantship allows you to gain hands-on experience relevant to your field while receiving financial assistance.

Federal Student Aid

Graduate students interested in federal student aid can explore various options to help fund their graduate degree programs. The Teacher Education Assistance for College and Higher Education (TEACH) Grant is a valuable Federal Student Aid program designed for graduate students pursuing a career in education. It provides financial support to those committed to teaching in high-need fields and low-income schools. Legal residents may apply. Federal funding for international students may be less available. To qualify, you must meet specific eligibility criteria, including agreeing to teach in a designated shortage area for a specified period after graduation.

Academic Merit-Based

These scholarships are all about your academic achievements. They might consider your GPA, standardized test scores (like the MCAT or LSAT), or other academic accomplishments. Some schools offer these scholarships as part of their admissions process, while others might require separate applications. If you’re awarded a merit-based scholarship, you might need to maintain a certain GPA to keep receiving the funds each year.

Athletic

If you’re a standout athlete, you might be able to snag an athletic scholarship, although these are rarer for grad students. Coaches might scout you during your sport’s season and offer scholarships based on your performance. The NCAA has a postgraduate scholarship program, so it’s worth checking out if you’re involved in sports.

1. Athletic Scholarships

Identity-based

These scholarships support students from specific backgrounds or communities. They might be geared toward marginalized groups or individuals who share characteristics with the scholarship recipients. These awards are intended to help create more opportunities for diverse student populations.

1. Filipino American Scholarships
2. Asian Student Scholarships
3. Black Student Scholarships
4. Hispanic Student Scholarships
5. Native American Student Scholarships
6. South Asian Student Scholarships

Department or Concentration-based

These scholarships are financial awards only available to students a specific department has accepted in their graduate school. These scholarships can be as broad as any STEM department or only open to those studying in neurology departments. 

How to Apply for Graduate School Scholarships

Looking for scholarships can be complex and lengthy, especially if you don’t know where to look. However, many resources are available to help students look for scholarships. 

Start with Online Resources

The internet is an excellent starting point for finding scholarships. Numerous websites specialize in listing and filtering scholarships based on various criteria, like Bold.org. These platforms allow you to search for scholarships tailored to your field of study, location, or personal background. These can save you hours of time in your scholarship search. You can also save scholarships that aren’t currently applicable but might be relevant in future semesters.

Consult Your Academic Network

Your academic advisor, department staff, and fellow students can be invaluable resources for discovering scholarships. They often have insights into lesser-known scholarships sponsored by your school or specific to your field. Advisors are especially useful as they are dedicated to your success and can guide you or refer you to other resources if needed.

Explore Local Opportunities

Don’t overlook local businesses. Many organizations offer scholarships to students in their community. This is particularly useful if your college has a strong local presence. Community-based scholarships and local scholarships can be less competitive and more accessible.

Applying for Graduate Degree Scholarships

After you earn your undergraduate degree, or even during your undergrad studies, you can find and apply for scholarships to help pay for your graduate program. It's never too early to begin applying for graduate scholarships.

Generally, the application process for graduate school scholarships will consist of these steps:

1. Choose scholarships to apply for
2. Fill out a form with basic personal information
3. Attach documents, such as transcripts, if requested
4. Write a personal statement, if required

Read the criteria carefully for each scholarship to make sure you're eligible to apply. Otherwise, you won't be considered, no matter how good your grades are or how compelling your essay is.

Certain scholarships may request specific documents in the application. These might be your transcripts, letters of recommendation, or a portfolio of some kind. Make sure to prepare these documents ahead of time to avoid missing the deadline.

Not all scholarships will ask for a personal statement. But for those that do, keep in mind the essay will be a deciding factor in whether you win or not. Be sure to take your time crafting a well-written response that directly relates to the prompt. The essay should help the donor understand who you are, what your goals are, and why you deserve to win this scholarship.

The essay is often the most difficult part of the scholarship application. Check out this article on how to write a personal statement for an in-depth guide on the scholarship essay!

Tips for Winning Graduate School Scholarships

Finding where to look for scholarships is just the first step; increasing your chances of winning requires strategic effort. Here are our top tips:

1. Apply for smaller dollar amount awards
2. Apply for scholarships with niche criteria
3. Apply to as many scholarships as possible

Consider applying for scholarships with smaller award amounts. While larger scholarships might seem appealing, they often attract a high volume of applicants, increasing competition. Smaller scholarships typically have fewer applicants, improving your chances. Accumulating several smaller awards can add up to a substantial amount over time, so don’t shy away from these opportunities.

Additionally, target scholarships with specific eligibility criteria. Scholarships tailored to niche fields or unique applicant profiles generally face less competition. For example, a scholarship exclusively for undergraduate art students specializing in realistic digital art will likely have fewer applicants compared to one open to all art students. By focusing on these more specialized scholarships, you can further improve your odds of success.

Most importantly, apply to as many scholarships as you can. this will increase your odds of winning across the board, as many scholarships are highly competitive. It's free money, after all—you won't be the only one trying to win.

Additional Resources for Graduate Students

1. National Science Foundation

The U.S. National Science Foundation offers fellowships, internships, postdoc application resources, and grants to graduate students. Each type of opportunity is dependent on your experience level and field of study, so make sure to look for grants or fellowships that match your academic interests. Research assistants and those looking to supplement federal grants may be especially interested in this resource.

2. Grad Resources

Grad Resources is an online platform that connects grad students with mentors, coaches, and interpersonal support. They organize lists of free resources to help with anything from mental stress to dissertation critiques, and can be a good starting point for grad students looking to get extra help in multiple areas.

3. American Historical Association

The American Historical Association provides free academic papers, research, and other guides for grad students on navigating higher education. Aside from purely academic resources, they also feature outlines and plans for how grad students can successfully run dissertation lightning rounds, career fairs, and other events.

Start applying to graduate school scholarships now and sign up for a free Bold.org profile today!