Grad School Fees and How to Cope

                Recently, an article was published regarding the rising costs of undergraduate college admissions. Between expensive school visits, application fees, SAT costs, tutor expenses, and admissions consultants, now getting into a distinguished undergraduate program is more stressful and expensive than ever. Not only that, but many private programs are reaching $50,000 per year, plus food, books, house-ware necessities like bedding, and graduation fees. While many students and parents already feel the strain of undergraduate costs, many others are starting to worry about the rising costs of graduate school admissions, as well.

                Just when you’re finally starting to see the light at the end of the tunnel, and also the mountain of debt that’s waiting for you after graduation, now you start to look for a career; however, many undergraduate programs leave students with limited career options. Many, but not all, programs that students aspire to get into require acceptance into graduate school or a graduate degree. Thus, the big question now comes into the picture: how am I going to afford this?

                GRE tutors can cost up to $5500 for a program, while signing up for the GRE costs an additional $160, plus score submitting fees for each school that you apply to. You still haven’t even paid the $100 application fees for each graduate school program, and have you tried to find a scholarship yet? While some firms pay for portions of graduate school, many of the tuition reimbursement programs have dwindled over recent years as firms have battled the financial crisis. So now what?

                It seems as though competition for the best schools is now about the money, rather than the qualifications. For those students who have the abilities, but not the cash to conquer grad school: there’s definitely hope. Financial aid programs provide financial grants to students who really need them. While this doesn’t eliminate looming loans completely, it does take off a bit of the burden. Furthermore, it is common for students take time off between undergraduate and graduate work. This is a great opportunity to save up for the future expenses, and also gain some field experience. You might not be in the job of your dreams for a couple of years, but you can still surround yourself with relevant work that will help you out in grad school coursework and also help you catch up on the undergraduate loans. There are also teachers’ assistant positions, research positions at schools, and a few external scholarships available to help ease the burden. Many schools waive or reduce application fees for college seniors, as well.

                While the costs of grad school can be overwhelming, there are opportunities out there for everyone. Some students may not need a $5,000 test prep instructor to do well on the GMATs or GREs, and can settle for a free or much cheaper set of online flashcards. (Hey, we’re just here to help you guys.) In the end, you just have to explore your options, keep an organized budget, and take the time to find the cost-cutting opportunities out there.