<p>Do master's programs in liberal art studies/majors, generally tend to operate like undergrad programs when it comes to financial aid? By the question asked, I'm referring to being given financial aid packages dependent on need, like one might receive at the undergrad level? Or are masters programs(in the liberal arts) generally considered to be programs one would have to finance on their own?</p>
<p>Funding for graduate programs is VERY different than for undergrad. Financial aid awards are not based on need for most awards (there are subsidized Stafford loans and some colleges have work study for grad students…both are based on need). BUT there are no “schools that meet full need based on the FAFSA/Profile” for grad school. MOST grad school financial aid (beyond the Stafford loans) is merit based and comes in the form of graduate assistantships, fellowships, scholarships, teaching assistantships, and the like. These awards are based on what you are academically bringing to the program. </p>
<p>Grad schools do not award financial aid grants and scholarships based on financial need (at least not that I know of). In addition there are no federal grants (like the Pell) for grad students.</p>
<p>Thanks. I though that was the case. So assuming one were to get the maximum amount for subsidized stafford loans and work study, and no scholarship/grants from the school, the difference would generally have to be out of pocket and/or private student loans?</p>
<p>That is correct.</p>
<p>The max combined amount for grad stafford loans is $20,500 or COA, whichever is less. Up to $8500 of this may be sub, depending on need (COA-EFC). Grad students are also eligible to apply for PLUS loans (credit-dependent; can use a cosigner).</p>
<p>Thanks for the above information. It’s good to know.</p>
<p>Be sure to complete the FAFSA early for grad school, you are still eligible for a work study and might even be hired by your professor to work in his lab! But if we wait, as many grad students do, to complete the FAFSA once you have chosen a school, those WS$ may be gone</p>
<p>Somemom…not all schools have work study for grad students. </p>
<p>But your advice to complete the financial aid application forms as early as possible is excellent regardless. Also, some colleges have a school based finaid form for grad students. As with any other application, check EACH SCHOOL’S website for the requirements and deadlines for applying for financial aid…and get them done early.</p>