Makes It Easy: Preparing YOU for Graduate School

Paying for Graduate School

bdarnellspring09 — Tue, 05 May 2009 01:42:17 +0000

Before we discuss the types of aid available to advanced-degree students and the best strategies for obtaining that aid, let’s first briefly cover such topics as “what is a graduate student,” “why people go to graduate school” and “what are people studying in graduate school.”

So, what, exactly, IS a Graduate Student?

A “Graduate Student” is any student who is looking to continue his/her education beyond the Bachelor Degree level of education. There were 2.7 million students enrolled in Graduate School in the year 2000¹, and of these almost 60% were enrolled at the Master’s Degree level¹ with another 13% enrolled in Doctoral programs and 12% in “first-professional” programs of study¹. The other 16% were enrolled in programs such as post-baccalaureate certificate programs and non-degree-granting programs¹.

First-Professional students are those enrolled in advanced degree programs in the fields of law, medicine and related fields, and theological professions.

The Rationale for Graduate School:

An estimated 364,000 students took the Graduate Record Exam (GRE) each year from 2000-2004². This means that almost 30% of students who received a Bachelor’s Degree in those years were at least contemplating the possibility of continuing their education, despite the significant costs associated with Graduate School. So, what would motivate this many of your peers to incur this expense? Perhaps one factor would be that all but one of the fifty highest-paying occupations requires a college degree or better³. In fact, the median household income is $65,922 for people who hold a Bachelor’s degree, while that figure rises to $77,935 for households in which a person possesses an advanced degree⁴.

So, what are people studying in Graduate School?

At the Master’s Degree level of study, about one half of all student’s are working on either a MBA (master’s degree in Business Administration, 20%) or a master’s degree in education (28%). Master’s degrees in Social Work, Public Administration and the Fine Arts are also popular choices¹.

While some students proceed immediately to an advanced degree after achieving a Bachelor’s degree, about 67% of MBA students waited three or more years before enrolling in a program, and 75% of them worked full-time while pursing their MBA. Of those student’s pursuing a master’s in education, 83% wait at least one year before enrolling in a program, and nine out of every ten students combine work with school.

As for Doctoral degree students, 18% enroll in either an Education programs (either Ed.D or Ph.D), while 62% enroll in non-education related disciplines. The other 21% enroll in programs such as Business Administration, Public Finance, etc.

Types of Aid Available for Graduate School

The vast majority of graduate students, 82% of full-time students and 60% of students overall, receive some type of financial aid¹. In the 2003-2004 academic year, the average amount of aid received by Graduate and First Professional students was $15,100¹. The most common forms of aid received by graduate students are grants, loans, assistantships, aid from employers and work study. We will now explore each of these aid types, and then present some statistics that will provide you with an idea of what the typical graduate aid package encompasses.

Getting Ready to Go to Grad School

bdarnellspring09 — Mon, 04 May 2009 19:06:20 +0000

Practical advice on programs, getting in, and managing families and money

Admit it: Maybe your choice of college was influenced by where your high school friends were going or the on-campus sushi bar. But graduate school is too important, too difficult, and too expensive for such kid stuff. Besides, most grad school applicants are adults with jobs and, often, families.

America‘s Best Graduate Schools and usnews.com have uniquely practical and realistic information for grad students. Our well-established rankings can help applicants narrow their search by identifying the nation’s very best programs. And our newest rankings also shed light on some of the hottest grad programs, including occupational therapy, pharmacy, and public affairs. Applicants can search our database of thousands of schools for the right program for them—geographically, financially, and educationally.

The following pages also offer lots of real-world advice about admissions, juggling responsibilities, and finances.

And there’s plenty of good news. Many grad schools are themselves becoming more practical. More of them are tweaking their schedules to make them friendlier to adults. Law schools are giving students more training in business. Medical schools are training doctors to succeed in the new managed-care world. There are new cheap loan and loan repayment programs to reduce the financial burden. And, best of all, employers are still clamoring for grad school grads.

The Grad School Payoff

bdarnellspring09 — Mon, 04 May 2009 18:58:34 +0000

By: Kim Clark

U.S. News World and Reports

Kevin Murphy, an economics professor at the University of Chicago who has studied the economic benefits of higher education, warns that money shouldn’t deter anyone from any level of education—including graduate school. “I hate to see people get discouraged” by high tuition costs, says Murphy, who won a MacArthur “genius” prize in 2005. Educated people do so much better “in so many aspects of life by deepening your mind, and improving your appreciation of life. You should go for a master’s in poetry if you enjoy it,” he says.

Those who finish their grad degrees also tend to earn bigger paychecks. The average worker with a college degree earns about $42,000 a year. Master’s degree recipients earn an average of $52,000. Ph.D.’s earn an average of about $71,000 a year. And those who’ve earned professional degrees such as law or medicine earn an average of about $82,000.

But since grad courses can be expensive, and most students have to borrow to pay at least some of their tuition, it would be foolish not to at least consider the financial costs against the financial benefits.

So before you commit to a program, or an education loan, check out:

What salaries people in your intended field are earning.
What your monthly payments will be on your student loans.
How quickly graduates from your school got jobs.
What salaries graduates from your program are earning.

So…You Are Out of College! Now What?

bdarnellspring09 — Thu, 30 Apr 2009 12:54:11 +0000

Hello, graduates and undergraduate students alike! Welcome to Makes It Easy: Preparing YOU for Graduate School. First, I would like to introduce myself. My name is Britney Darnell and I am currently attending the University of North Texas pursuing a Bachelor’s Degree in Arts and Sciences. It is my duty to help you tag the right job for you, regardless of this shamed economy. So, sit back, breathe, relax, and enjoy everything the site has to offer. From tips on how to choose the right graduate school to uploading your video resume for future employers to take a look at, this site has a lot to offer! Enjoy! And go and get your dream job!