<p>Just a silly question, but how do students usually pay for graduate school? Is there need-based aid for ** that ** too? Or is that "you're-on-your-own, best of luck to ya" financing?</p>
<p>The reason I ask is because.. well, I'm considering the five-year BSFS/MSFS program at Georgetown. It's only an extra year, but I guess with a lot more work with only a short amount of time. I was wondering if I should try for it. You have to be accepted I think at the end of the sophomore year, but, I don't know. I'm a bit clueless to the whole graduate school planning thing.</p>
<p>For the most part graduate school funding tends to be an on your own type of thing. Most graduate schools have both merit and financial need based aid, but it tends to be extremely competitive. For example, I applied to five grad schools this year, got into all five, got full ride plus stipend from two and nothing from three. It's really luck of the draw. It gets even harder if you're trying to go to grad school straight outta undergrad.
As for the Gtown Five year program, you need to have a 3.5 GPA in order to apply. This can be considerably difficult seeing as how you've got four semesters of econ to deal with (that's usually the killer for most BSFS students). I know a few of my friends that have done it and they enjoy being able to graduate in 5 years. Of course, you have to be sure that international affairs is your thing. But if you do, go for it!</p>
<p>I was in physics grad school late 80's. I was able to support myself with teaching and research assistantships</p>
<p>klactan,</p>
<p>Probably a lot depends on the school. My son is doing a 5 year combined program (Carnegie Mellon). He had to apply sometime in his third year, take GRE's etc. The good thing is he finishes both undergrad and grad degrees at the same time, at the end of 5th year. That way his undergrad loans/grants have held for all 5 years. </p>
<p>Hopefully Georgetown has something like this (called AMP-acclerated masters program at CMU). The key is finishing both degrees together. That way even federal loans are able to still be used in the 5th year because you are technically still an undergrad. They worked with him in financial aid...hopefully someone at G'town can help you.</p>
<p>It saved us thousands of dollars doing it this way plus the time he saved.</p>
<p>Whoa! Settle down little pony. You get yourself over to Washington DC for a few years. THEN you can think about these big scary decisons.</p>
<p>Am I gonna have to give you a Needless Worry Coward?</p>
<p>Hah..I don't want to hijack the thread, but I guess the question sort of relates- does grad school at a private school cost more than at a public school, disregarding any financial aid/merit aid, such? for example, as a california resident, woudl UCBerkeley be cheaper than Columbia grad school, for example? </p>
<p>About the question of grad school- I, personally, have to pay for my grad school and my half of the tuition for my last two years of undergrad. It was the deal i struck with my parents to let me go to a private school. I have also heard that law school's do not give much financial aid because they know that you will be successful and do not need the aid- you'll be able to pay off any loans you end up taking.</p>
<p>grad school financing seriously is luck of the draw...it can be very unpredictable which is why it's a good idea to plan carefully for your undergrad if you know you intend on doing grad later. My roommate applied to law schools this year and was expected to take out at least $25,000 in loans...PER YEAR! I applied to grad schools and, for the most part, am expected to borrow at least $10,000/year from the schools that I didn't get a full ride from. (good thing I'm only looking at two years...my roomie is looking at three...)
Of course, future jobs are always an issue. For example, the average Harvard Kennedy grad leaves with $60,000 in debt after two years (not including undergrad debt). But the starting salary for those grads is usually about the same per year. Some people don't mind taking on the debt if they know they'll be able to pay it back later.</p>
<p>The reason I ask about the BSFS/MSFS thing is... one of my scholarships that I will be applying for, the LAWAC scholarship, allows up to a 5th year of study, as long as the Bachelors hasn't been earned yet.</p>
<p>Thanks for answering!</p>
<p>PS: No, I don't need a worrywort coward. :P</p>
<p>tlaktan, if you're taling aboug PhD/doctoral programs, there is no need-based aid. They assume everyone has need, so to speak, and also that they are "on their own" (no expectation that parents will contribute). You finance your doctoral studies typically through a combination of fellowships and assistantships (for teaching and research).</p>
<p>I'm really thinking about Masters Degree programs, mackinaw. Maybe even JD. Thanks though, I'll keep the Ph.D info in mind!</p>
<p>Also don't forget, if you want to go onto grad school in some fields (usually tied heavily toward academia, such as the sciences) you usually get a stipend to go to grad school and don't have to pay a cent. Of course, these fields are typically competitive, but I've known many a student who has decided they'd prefer to get a higher degree in pure biology then pay money for med school.</p>