Nowadays, many students feel that an undergraduate degree simply isn’t enough to guarantee the job security, earning potential and career path they want. Getting a Master’s degree can be a natural extension of these career goals, however, many students worry about accruing a lot of debt getting their degrees. Fortunately, there are some scholarships and award programs out there that can help reduce the costs and make graduate school a more positive and profitable experience.

Students who have financial need, are raising families or who come from low income families may be eligible for scholarships through the federal government. These scholarships are limited in number, but can be a great help to students without the means to afford to continue their education. State funding may also be available in some places and students should check with the state they are a resident of to see if they qualify for any assistance.

Another place where Master’s students can get funding is through the university or college they are attending. Depending on the program the student chooses, their academic history, work experience and other factors, scholarships can be quite generous. Many students can get additional assistance if they take on jobs through the university as teaching assistants, though these positions may be limited.

Students pursuing degrees in careers that are in high demand may qualify for specialty scholarships. These can include fields like nursing, library science and teaching where the demand for qualified graduates exceeds the current supply. Women and minority groups may also enjoy additional scholarship opportunities especially those pursuing advanced degrees in fields like engineering and the sciences which have traditionally dominated by white males.

• ACS Master‘s Degree Scholarship in Nursing: $10,000 to graduate level nursing students with an interest in cancer nursing.
• The Consortium Scholarship for Graduate Study in Management: Varied amounts to over 300 students working towards Master‘s degrees in Business who are of African American, Hispanic American and Native American descent.
• Harry S. Truman Scholarship Foundation: Up to $30,000 to students pursuing their Master‘s degree in public service.