Funding for masters

Graduate School
1

<p>So I will hopefully be doing a masters this fall in chemical engineering. I am anticipating having to pay for most of the tuition/board myself, since I guess masters are generally not funded. The thing is, my parents have been paying for my undergrad schooling for the past four years, and this time I don't want them to continue dumping money for me (especially since the lagging economy might mean they could get laid off). So I have no experience with regard to loans and financial aid. I have had scholarships before in college, but never any other kind of aid. </p>

<p>My parents' combined income is 100k+, so does that affect how much I can get? And what services are available? Ideally I want loans that I can pay off myself after I get a job. I've heard of organizations like FAFSA and government agencies, but do those apply to grad schools too?</p>

<p>Any help is appreciated!</p>

2

<p>Yes, fill out the FAFSA and you can qualify for Stafford loans. If you are going into grad school, you should (or soon should) be independent of your parents. If they no longer claim you as a dependent on their taxes their income will not affect your loans, you may want to talk with them about it before they file this year and discuss your options. </p>

<p>Stafford loans come in subsidized and unsubsidized and should help well with a masters. The only difference between the two is that subsidized loans do not start generating interest until after you leave school. You can start paying them off while still in school but you do not have to pay anything until after you leave grad school for good.</p>

<p>I suggest calling the financial aid office of the school you are at now and/or the schools to which you are applying for more information. Good luck!</p>

3

<p>gimp,</p>

<p>I am fully aware that your question is about a ChemE Masters, but for others who might be reading this thread, I wish to note that full funding is available for MANY Masters programs in the humanities (including mine)!</p>

4

<p>Apply for a PhD program, get full funding and get masters in passing.</p>

5

<p>Once you have completed your bachelors you are independent for FAFSA. Whether your parents claim you on their tax return does not matter for FAFSA purposes. ( we have not claimed our son for 2 years but when he went back to college he was still considered dependent for FAFSA). There are several dependency questions are asked in FAFSA:
<a href="http://www.studentaid.ed.gov/students/publications/completing_fafsa/2008_2009/ques4.html%5B/url%5D"&gt;http://www.studentaid.ed.gov/students/publications/completing_fafsa/2008_2009/ques4.html&lt;/a> if you answer yes to any of them you are independent for financial aid purposes - otherwise you are not. If you are independent parents income is not asked for ( though certain schooling such as medical school may still ask for it.) </p>

<p>As far as federal aid for post bachelors it is loans. Grants such as Pell and SEOG are only for undergrad. Finaid has information about student loan programs including maximum annual and cumulative limits.</p>

<p><a href="http://www.finaid.org/loans/%5B/url%5D"&gt;http://www.finaid.org/loans/&lt;/a&gt;&lt;/p>

6

<p>thanks so much for the responses</p>

<p>Charlie's World:</p>

<p>I am aware that that is a possibility, but I think it's frowned upon since they know people abuse this in order to not pay money. I'd rather be on good terms with people in the department after I graduate.</p>

7

<p>Often the PhD students feel they're the abused ones as they do the grunt work for under-worked profs, teach their sections and do grading. </p>

<p>Nevertheless, in engineering since going for a doctorate is less common don't many master's programs fund their students?</p>

8

<p>i would check with the college about departmental scholarships. you might have a better chance of getting one, given that fewer people are applying for them. also, i would definitely make sure that you are independent of your parents on the FASFA. i think that by the time you are going to graduate school you should pretty much be on your own.</p>

9

<p>If you can answer yes to FAFSA question 49 you are independent for FAFSA purposes.

[quote]
49. At the beginning of the 2008-09 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, Ph.D., EdD, or graduate certificate, etc.)? You should answer, "Yes" if you will be enrolled in a master's or doctorate program in the initial term you attend in 2008-09. If you will be finishing your bachelor's degree in the initial term of the school year and then moving on to a master's or doctorate you should first answer Question 49 as "No." Once you have completed the undergraduate degree, this Question should be corrected to "Yes" and resubmitted. You should also notify your FAA.</p>

<p>A graduate or professional student is not eligible for a Federal Pell Grant, an ACG Grant, a National SMART Grant or Federal Supplemental Educational Opportunity Grant, so if you incorrectly report that you are a graduate or professional student, you will need to correct this answer to receive any of these federal grants as an undergraduate student who is otherwise eligible.

[/quote]
</p>

<p>If you can answer yes to FAFSA question 49 you are independent for FAFSA purposes.</p>