Specialty graduate programs
The same approach—start with outcomes, maximize free money, and borrow smart—still applies if you're applying to a specialized program. What does change is where you look. Medical, dental, business, and other professional tracks often have funding sources built specifically for that field. If you don’t zoom in, you’ll miss them.
Here’s how to think about it:
Professional programs usually have their own scholarships, fellowships, service commitments, and loan options tied to workforce needs. Hospitals need nurses. Rural towns need vets. Airlines need pilots.
When industries need people, they invest in people. Your job is to find those investments and see if they align with your goals.
Below are specialty areas where funding works a little differently. Use these as starting points for your research:
Specialty programs may cost more, but they often come with funding options other graduate students don’t see, so you have to look beyond a basic scholarship search.
If your program isn’t listed, don’t assume there’s no support. Reach out to your department head or coordinator and ask about financial aid resources specific to your field.
1. Understand costs and future earnings
Paying for graduate school starts with understanding the full financial picture—and what you’re likely to get back in the long term. That means looking beyond tuition and pairing costs with the career outcomes tied to your degree.
Nearly 9 in 10 graduate students say they expect their degree to increase their earning potential — and most choose programs based on career impact, not just cost. Evaluating both sides of the equation helps you decide whether the investment makes sense for your goals.
Source: How America Pays for Graduate School
Get clear on your total costs, including:
- Tuition and required fees
- Housing and transportation
- Books, supplies, and technology
- Program-specific costs
- Any limits on working while enrolled
Knowing these numbers upfront helps you plan more confidently and avoid surprises.
Just as important: Understanding what your investment might return. Look at:
- Typical earnings in your field
- Job demand and long-term outlook
- How quickly graduates tend to find work
When you weigh cost and outcomes together, it’s easier to decide whether a program’s price tag makes sense for you.
Compare options before you commit.
Graduate school funding often looks different from undergrad. Most graduate students have access to fewer grants and need-based aid, so loans and self-funded options tend to play a bigger role.
Aid can vary based on things like:
- Degree type
- Field of study
- School and location
That’s why it’s smart to compare programs side by side—not just on price, but on how each one fits into your bigger financial plan.
Start by exploring different types of graduate degrees to understand requirements, timelines, and outcomes. Then, use Scout College Search to compare schools side by side and check total costs, financial aid, and average earnings for grads.
If the numbers don't feel right, that's ok. You have time to adjust or look at other paths. Planning smart now can save you financial stress in the future.
2. Maximize free money
Free money should always be your first stop when paying for graduate school. Scholarships, grants, fellowships, and assistantships can significantly reduce how much you need to borrow—and in some cases, cover a large portion of your costs.
Know your aid
The Free Application for Federal Student Aid (FAFSA®) isn't just for undergrads. Complete it every year even if you don’t expect need-based aid. Once you get an offer, make sure you understand what aid is free, what’s earned through work or research, and what needs to be repaid. Check our FAFSA guide for step-by-step help.
Graduate scholarships
Scholarships for graduate students are great because you don't need to pay them back, and you can apply for as many as you want. Applying early—and continuing to apply each year—can pay off. Even smaller awards can add up over time and help keep your borrowing in check.
Tools like Scholly Scholarships can match you to scholarships based on your background, major, and career interests. And options like our $5,000 Grad School No Essay Scholarship and Scholly Easy Apply Scholarships make it easy to apply without adding extra stress to your schedule.
Graduate school grants and fellowships
Grants and fellowships are also financial aid that you don’t have to pay back. Grants can come from your school, government programs, or nonprofits. They're often need-based, which means you need to file the FAFSA to qualify.
Graduate fellowships are typically merit-based awards that provide tuition support, a stipend, or research funding. They're usually awarded for academic excellence, leadership, or potential in a particular field.
Graduate assistantships
Assistantships let you earn money while you’re in school by working part time for your department—often helping with teaching, research, or admin work. In return, you may get help with tuition, a stipend, and sometimes benefits. They do take time, but they can also give you real experience and connections in your field.
After you’ve maximized free money, the next step is figuring out how to borrow what you need to move forward.
3. Borrow smart
Even with scholarships and grants, many graduate students still need loans to cover remaining costs. Research shows that borrowing is a common part of paying for grad school — but most students rely heavily on savings and free money to help keep loan balances manageable. The goal is to borrow thoughtfully—so your loans support your future instead of holding you back.
Source: How America Pays for Graduate School
Federal student loans
Federal student loans can be a good start. They come from the U.S. Department of Education and may offer programs private loans don’t, like income-driven repayment options. To apply, you need to file the FAFSA.
The federal graduate PLUS loan program is ending on July 1, 2026, but grad students can still qualify for Direct Unsubsidized Loans. These don’t require a credit check or cosigner, but interest starts accruing as soon as the loan is disbursed, and you’re responsible for all of it.
What are the new federal borrowing limits?
Starting July 1, 2026, lower federal borrowing caps will apply to Direct Unsubsidized Loans
Graduate students: $20,500 per year ($100,000 lifetime)
Professional students: $50,000 per year ($200,000 lifetime)
To understand how recent federal loan changes—including the end of the federal grad PLUS loan program—may affect your funding plan, review Sallie Mae's guide to federal PLUS loan changes.
What other loans can I use to pay for graduate school?
With new limits in place, many students may need to adjust their funding plan. Keep applying for scholarships and grants and consider using private graduate student loans strategically to cover remaining costs.
Private graduate student loans
Private graduate student loans can play a role when combined with federal aid and scholarships. Comparing options carefully can help you find a loan that fits your timeline, career plans, and budget.
Some graduate loans—especially medical and dental programs—may offer deferment or residency-related considerations that affect when repayment begins. Understanding these details ahead of time can help you plan with confidence.
Many students choose to explore Sallie Mae® Graduate Student Loans alongside federal options to build a funding mix that works for them. These private loans are designed with grad students in mind and come with features that can make borrowing more flexible and tailored to your needs.
Before you borrow...
• Review your federal aid offer: Look at the breakdown of grants and federal loans, then figure out what you'll still need to cover.
• Factor in upcoming changes to federal loans: Understand if you’re affected and if you need to adjust your funding plan. For details, check out Sallie Mae's guide to PLUS loan changes.
• Think long term: Consider how your expected earnings and job prospects line up with how much you plan to borrow. Use a loan calculator to estimate your payments ahead of time.
Borrowing smart isn’t just about choosing the lowest rate — it’s about creating a plan that fits your goals, your budget, and your future. For more tools and resources to help you borrow confidently, explore Sallie Mae's Student Loan Guide.
Take on grad school with confidence
Paying for graduate school doesn’t have to feel overwhelming. When you understand your full costs, focus on free money first, and borrow thoughtfully, you put yourself in a stronger position from the start.
With a clear plan and the right mix of tools and resources, you can move forward with confidence—and make grad school an investment that works for your future.
