Universities' Scholarships: A Better Deal For Graduate Students?

Graduate school can be expensive, and many students rely on scholarships, grants, and fellowships to fund their education. While scholarships are usually merit-based, grants are typically awarded based on financial need. Tuition waivers, on the other hand, are a less common form of financial aid offered by universities to reduce or eliminate tuition fees for students who meet certain requirements. This could be based on factors such as financial hardship, academic merit, or other criteria specified by the university. It is important to note that, unlike scholarships and grants, some waivers may be considered taxable income. Graduate students should explore all available options, including scholarships, grants, fellowships, and tuition waivers, to ensure they can fund their education without accumulating excessive debt.

Pros and cons of scholarships vs. waivers

Scholarships and tuition waivers are both forms of financial aid for students. While scholarships are usually "free money" that doesn't need to be paid back, tuition waivers are granted by the school and reduce the amount charged by the institution. Here are some pros and cons of scholarships and waivers for graduate students:

Scholarships

Pros:

• Scholarships do not have to be repaid, meaning students can secure a debt-free education and avoid the stress of future interest payments.
• They alleviate the financial burden of studying, allowing students to focus on their academic performance without the pressure of debt repayment.
• Scholarships reward academic excellence and merit, which can boost students' self-esteem and sense of validation.
• They offer flexibility, as they can be used to cover a range of expenses, including fees, books, and living costs.
• Scholarships can promote diversity in educational institutions by supporting students from underprivileged backgrounds.
• They can inspire academic excellence by providing an incentive for students to perform well.

Cons:

• Scholarships are highly competitive, and students often need to demonstrate good academic records, extracurricular involvement, or meet specific criteria to qualify.
• There is a scarcity of scholarships, and the demand often exceeds the supply, leaving many students without sufficient funding.
• Eligibility criteria can be stringent and specific, such as requiring a certain GPA, test scores, or participation in particular activities, which may not be achievable for all students.
• Scholarships are typically awarded for a single academic year or a specific period, requiring students who need long-term support to reapply or seek alternative funding sources.

Tuition Waivers

Pros:

• Tuition waivers directly reduce the cost of tuition, making education more accessible and affordable for students.
• They can be granted based on financial need, such as for students with low family incomes or those who have overcome significant hardships.
• Tuition waivers are often offered to specific groups, such as Native American students, adopted or foster children, culturally diverse students, and those with disabilities, ensuring that these groups have improved access to education.
• For graduate students working as teaching assistants, a tuition waiver can serve as a form of income, although it may be subject to taxes if it exceeds a certain amount.

Cons:

• Tuition waivers only cover the cost of tuition and cannot be used for other educational expenses like books or accommodation.
• They are typically granted based on financial need rather than merit, which may not recognize and reward academic excellence.
• The eligibility criteria for tuition waivers can be restrictive, and they may not be available to students who do not meet specific requirements, such as demonstrating high financial need or belonging to certain minority groups.
• In some cases, tuition waivers may be considered taxable income, adding an additional financial burden to graduate students.
• Students who drop out of school or fail to meet academic progress requirements may need to repay their tuition waiver, creating a potential financial risk.

Both scholarships and tuition waivers can provide valuable financial support to graduate students. However, it is important to consider the eligibility criteria, the extent of financial coverage, and the potential tax implications when deciding between these options.

Types of scholarships available for graduate students

Graduate school scholarships are financial aid for college created specifically for graduate students. They can help students attain higher education opportunities that may otherwise be out of reach due to financial reasons. All scholarships are free money for college that you don’t have to pay back.

There are several types of scholarships available for graduate students. These include:

• Need-based scholarships: These are for students who have demonstrated a financial need. There is no universal number or set income level that qualifies you for these scholarships. They are offered by the federal government, specific organizations, corporations, and colleges/universities/schools.
• Merit scholarships: These are for students who have shown high academic, athletic, or extracurricular achievement over their high school careers. Not all schools/colleges offer merit-aid—highly selective schools typically don’t. The process for applying for merit scholarships varies. For merit scholarships offered through colleges and universities, you generally don’t have to do anything other than complete the application to the school itself.
• Career-specific grants or scholarships: These are awarded to students who know they want a career in a specific industry. To be eligible for grants, students must submit the Free Application for Federal Student Aid (FAFSA). To find career-specific scholarships, try searching for your major and “association”.
• Community or nonprofit scholarships: Nonprofit and community organizations often receive funding from donors to create scholarship programs for students who need them.

There are also fellowships, which are a special kind of merit scholarship that often covers all tuition expenses. Fellowships are usually granted by the school itself, not a third-party provider. They often have competitive applications and a limited number of spots.

• The Mensa Foundation Scholarship Program: This program awards over $200,000 to college-bound students globally, based on essays expressing academic and professional goals.
• The Gloria Barron Wilderness Society Scholarship: This scholarship is only given to graduate students interested in protecting the wilderness. There are two awards given, each worth $25,000. Applicants must be attending an accredited graduate program in the U.S.
• The Earl Warren Scholarship: This scholarship is given to a current law school student interested in civil rights. This $15,000 annual award can be renewed for three years, for a $45,000 total. Only U.S. citizens attending an accredited law school are eligible to apply.
• The National Health Service Corps Scholarship Program: This scholarship is awarded to students pursuing a career in the healthcare industry, including those in medical school. Recipients may receive a monthly stipend for living expenses, as well as funds for tuition and other expenses.

How to apply for a graduate scholarship

Start Early and Search for Opportunities

Start the scholarship application process early. Begin your search as soon as you decide to apply to graduate school. Scholarships are less common for graduate students than for undergraduates, so you need to be strategic. Websites such as Scholarships.com, Fastweb, Appily, Unigo, and GoGrad can help you find graduate school scholarships you are eligible for.

Check with Your School

Contact your prospective school's financial aid department to ask about grants, scholarships, and fellowships. You may be automatically considered for scholarships when you complete the initial application, but it's always good to double-check. Many graduate students can work as teaching assistants or research assistants to help cover their tuition.

Local Scholarships

Don't overlook local scholarships, which are usually less competitive than national ones. Your employer, your parent's employer, or your place of worship may offer scholarships. Graduate students can also benefit from filling out the Free Application for Federal Student Aid (FAFSA).

Deadlines and Requirements

Deadlines for scholarships vary, so stay on top of them. Read the requirements carefully to determine your eligibility. For private, outside scholarships, it's important to understand the awarding organization's mission and let them know how you will forward their mission by receiving the scholarship.

Ask for Help

Before submitting your application, have a peer or adviser review it for errors. Graduate students have the advantage of more life and educational experience to draw from when writing a scholarship essay.

Types of waivers available for graduate students

There are several types of waivers available for graduate students. These waivers can be offered by schools, state governments, or the federal government, and they provide financial assistance to students who meet certain criteria. Here are some of the common types of waivers available for graduate students:

• Tuition Waivers for Adopted or Foster Children: Many public colleges and universities offer tuition waivers for students who have been adopted or were in the foster care system. Students with experience in the juvenile justice system may also qualify for these waivers. To apply, students typically need to submit proof of enrollment, their FAFSA results, and any relevant documentation.
• Tuition Waivers for Culturally Diverse Students: Colleges and universities often promote cultural diversity by offering tuition waivers to minority students from underrepresented groups. This may include students from the LGBTQ+ community and senior citizens. These waivers usually cover full tuition, but additional financial aid may be needed for room and board or summer classes.
• Tuition Waivers for Graduate Teaching Assistants: Graduate students who work as teaching assistants may receive a tuition waiver as part of their compensation package. This waiver is considered taxable income, and taxes may be applicable depending on the student's total earnings.
• Tuition Waivers for Low-Income Students: Low-income students, including those who have experienced unexpected financial hardships, may qualify for tuition waivers. They can work with their school's financial aid office to determine their eligibility and apply for these waivers.
• Tuition Waivers for Nontraditional Students: Some states offer tuition waivers to encourage nontraditional students, such as those over the age of 60, to return to school. Additionally, students whose parents or spouses work full-time at the college or university may also be eligible for tuition waivers.
• Out-of-State Tuition Waivers: Colleges and universities may offer tuition waivers to out-of-state students to attract a more diverse student population. Requirements for these waivers can vary but may include residing in a neighbouring county, working as a research assistant, or pursuing a graduate degree.
• Tuition Waivers for Students Employed by Certain Organizations: Students who are employed by or participate in specific organizations may be eligible for tuition waivers. For example, AmeriCorps participants often receive automatic waivers, and Peace Corps volunteers may qualify for partial tuition waivers upon returning to graduate school.
• Tuition Waivers for Students in Exchange Programs: Students participating in exchange programs may be eligible for financial assistance, including tuition waivers, depending on their FAFSA results. The Council on International Educational Exchange (CIEE) is one organization that provides funding opportunities for students in approved study abroad programs.
• Tuition Waivers for Students Pursuing Certain Majors: Some colleges and universities offer tuition waivers for students pursuing specific majors, often in high-demand fields like STEM. Eligibility requirements may include maintaining a satisfactory GPA and completing general education courses.
• Tuition Waivers for Students with Disabilities: College students receiving Social Security Disability Insurance may qualify for tuition waivers. They will need to obtain documentation from the Social Security Administration and work with their college's financial aid office to apply for these waivers.
• Tuition Waivers for Students with Native Status: Many colleges offer tuition waivers specifically for Native American students who are members of federally recognized tribes. These students can submit their Certificate of Degree of Indian Blood or tribal membership card to qualify.
• Tuition Waivers for Veterans and Their Dependents: Yellow Ribbon schools provide tuition waivers for veterans who have exhausted their GI Bill benefits. Additionally, many states offer tuition waivers for the spouses and children of veterans who have a disability due to combat injury.

How to apply for a tuition waiver

Tuition waivers are a great way to reduce your college tuition costs and lower the amount you may need to borrow in student loans. Here are some steps to apply for a tuition waiver:

Check Your Eligibility:

Before applying, make sure you meet the eligibility criteria for the tuition waiver. Different types of tuition waivers are available, such as need-based and merit-based waivers. Need-based waivers are for students with financial need, while merit-based waivers are for those with outstanding academic achievements or exceptional talent in specific areas. Other types of waivers include employment-based waivers, military member waivers, and waivers for non-traditional students or senior citizens.

Contact the School's Financial Aid Office:

Reach out to the financial aid office at your school to inquire about the availability of tuition waivers and the specific eligibility requirements and application process for that particular institution. Some schools may automatically consider all students for tuition waivers, while others may require a separate application form.

Complete and Submit the Application:

If a separate application is required, obtain the necessary forms from the financial aid office or the school's website. Carefully review the requirements and gather all the necessary documentation, such as proof of financial need, academic transcripts, letters of recommendation, or other supporting materials. Submit your completed application package by the specified deadline, ensuring that all required documentation is included.

Maintain Satisfactory Academic Standing:

If you are granted a tuition waiver, remember that maintaining satisfactory academic progress is usually a requirement to renew the waiver for subsequent semesters or years. Stay informed about the specific requirements, such as a minimum GPA or credit units, to ensure you continue to meet the eligibility criteria.

Explore Other Options:

Even if you don't qualify for a tuition waiver or your school doesn't offer one, there are alternative forms of financial aid available. These include scholarships, grants, work-study programs, subsidized loans, and employee tuition reimbursement plans. Don't hesitate to reach out to your school's financial aid office and explore scholarship search engines to identify additional opportunities to reduce your college expenses.

Frequently asked questions