<p>If I'm considering going to graduate school in history or going to law school. I've been accepted to Yale EA, which will cost $20k a year, which will basically wipe out my parents after four years. (They make $75k a year and have $120k in stocks). Let's assume I go to Yale, what kind of need-based scholarship money could I get for grad school? Am I screwed for going to a top school? Could anyone tell me about options available? I don't see how people pay for it.</p>
<p>"Most graduate students in the Ph.D. program in History receive fellowship support from the Yale Graduate School. As of 2004 this support typically covers full tuition for the four years in which full tuition is due, a living stipend of $17,000 for the first two years, and a teaching fellowship of at least that amount for the next two years."</p>
<p>-from the Yale History Department site (<a href="http://www.yale.edu/history/gradprogram.html%5B/url%5D">http://www.yale.edu/history/gradprogram.html</a>).</p>
<p>Most graduate students in PhD programs are funded, i.e. their tuition is free and they are paid a stipend for living expenses, typically in the mid-teens to low 20s per year. Law school is another matter; tuition often costs $30,000 per year, and it's common to take out loans of over $100k.</p>
<p>Thank you for the information; so basically, this means people who say "Don't go to Yale - go elsewhere so you can pay all of that money for graduate school," are a little misguided? I'm much more interesed in a PhD than law. Thanks a bunch!</p>
<p>You should keep in mind that if you pursue a PhD after going to Yale, you won't really have a substantial income to pay off the debt you incur during your time at Yale unless you maintain a job while pursuing your PhD. So the stipend you receive while studying for your PhD will have to be used for living expenses and to also pay off whatever debt you might have. This is why people say that going to a cheaper undergraduate school will allow you to live easier and to more quickly pay off any debt when you go to graduate school.</p>
<p>"You should keep in mind that if you pursue a PhD after going to Yale, you won't really have a substantial income to pay off the debt you incur during your time at Yale unless you maintain a job while pursuing your PhD." Students on assistantships typically are not allowed to have extra employment. For example, Stanford limits them to 8 hours per week, while international students cannot work any extra hours at all.</p>
<p>"So the stipend you receive while studying for your PhD will have to be used for living expenses and to also pay off whatever debt you might have." No, your undergrad loans are deferred during grad school, so you will start repayment after you get the PhD.</p>
<p>To carolinequips: ultimately, it's up to you how much to spend for undergrad, but grad school is free for virtually all PhD students...the hard part is to be admitted!</p>
<p>Thanks, guys! I won't have a problem paying off undergrad - my parents can easily do that (only child). But for grad school, I'll be more independent. So question: How good are the living stipends they give you? I realize you get a tuition waiver, but are there more mysterious costs?</p>
<p>Well, you should have a pretty good idea of your living expenses (housing, food, books, travel, and personal expenses) as an undergrad, which may vary by the cost of living in the area. Along with tuition, all school fees are usually covered, except health insurance.</p>