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Edited By: Graduate School Scholarships
Key takeaways:
- Workers with at least a master’s degree earn a median salary of $81,848, about 15% more than those with only a bachelor’s, according to the U.S. Bureau of Labor Statistics.
- Graduate students in fields like engineering, nursing, and architecture have a federal student loan borrowing cap of $20,500 per year and $100,000 in total.
- Graduate students in medicine and law have a loan cap of $50,000 and $200,000 in total.
Scholarship availability, eligibility, and awards are not guaranteed and are subject to each school’s terms and selection criteria.
Depending on the field you hope to enter after college, going back to school can be a necessary next step.
However, a graduate degree can be expensive. According to the Education Data Initiative, the average cost of a master's degree is $62,650, and other degrees can cost well over $100,000. Graduate student borrowers hold an average of $106,129 in debt. Given that federal student loan caps limit how much students can take out after 2026, finding scholarships for graduate school is essential.
For detailed information pertaining specifically to common types of graduate degrees, see:
If you are considering applying to graduate school and decide to take out federal student loans, make sure you know whether your degree is classified as “graduate” or “professional” by the U.S. Department of Education. This will affect how much you can borrow.
Jump to:
- 25 best graduate school scholarships
- What is a graduate school scholarship?
- Are graduate programs funded?
- How do I apply for graduate school funding?
- Can PhD students apply for graduate school scholarships?
- Are there international graduate school scholarships?
- Can I apply for a graduate school scholarship if I’m a part-time student?
- What are other ways to pay for graduate school?
The 25 Best Graduate School Scholarships with Approaching Deadlines in 2026
What is a graduate school scholarship?
Graduate school scholarships are awards for students who have completed their bachelor's degree and are looking to fund their postgraduate studies.
Common postgraduate degrees include master’s degrees such as a Master’s of Business Administration (MBA) or Master of Public Policy (MPP); professional doctorates, such as a Juris Doctor (JD) or Doctor of Medicine (MD), and a Doctor of Philosophy (PhD).
Merit-based scholarships for graduate students are also called “fellowships.“
Some fellowships may cover a significant chunk of your educational costs. For example, the Paul and Daisy Soros Fellowship for New Americans awards $90,000 per student. Applicants must be immigrants or the children of immigrants planning to attend graduate school.
Applying for graduate school can also get expensive. The Mellon Mays Undergraduate Fellowship Program (MMUF) supports students from underrepresented backgrounds who plan to earn a PhD with application expenses such as standardized testing and application fees.
Frequently asked questions about graduate school scholarships
Are graduate programs funded?
Most master’s and professional doctorates are not funded: you pay tuition and living expenses.
These costs can add up. Master’s degrees range from one to two years. A JD, which is necessary to practice law, lasts three years; an MD, which is necessary to practice medicine, lasts four.
The U.S. Department of Education classifies master’s-level degrees in fields such as nursing, engineering, and architecture as “graduate degrees,” and professional doctorates (JDs and MDs) as “professional degrees.”
The distinction matters for taking out federal student loans. Students enrolling in graduate degrees can borrow up to $20,500 per year and $100,000 in total in direct unsubsidized loans. Students earning professional degrees can borrow up to $50,000 a year with a $200,000 total.
There are also fellowships available for students earning professional degrees.
For example, the Earl Warren 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. Only those in their first or second year of law school may qualify.
The National Health Service Corps Scholarship Program is awarded to students pursuing a career in the healthcare industry, including those in medical school. You may receive a monthly stipend for living expenses, as well as funds for tuition, expenses and more. Eligible students must plan to work as a dentist, nurse practitioner, nurse midwife, or physician assistant and commit to working in an underserved area after graduation.
PhD programs in the U.S. are typically funded: if you get in, you get paid. (Admission is very competitive, and schools are cutting back intake.)
PhD students earn a stipend covering the cost of tuition and most living expenses for the duration of the degree, which typically lasts at least five years. Students may be required to teach or take on administrative duties to earn the awarded amount. Stipends vary by school, location, and field of study.
How do I apply for graduate school funding?
You may be automatically considered for grants, scholarships, or fellowships by your university when you submit your application. You can also apply for external fellowships.
Some graduate students can work as teaching assistants or research assistants to help cover educational costs. This work often involves grading papers, teaching introductory courses, developing quizzes or exams, and more.
While this work is usually expected of PhD students, master’s students may not be eligible for it. Law and medical students may be eligible on a case-by-case basis.
Graduate school students are also eligible for Federal Work-Study. To be considered for it, you must complete the Free Application for Federal Student Aid (FAFSA).
Can PhD students apply for graduate school scholarships?
While PhD students in the U.S. are typically funded by their universities, they may be eligible to apply for additional fellowships to offset their teaching and administrative responsibilities.
PhD students who are nearing degree completion are also eligible for dissertation completion fellowships. These are competitive research grants that buy time to finish dissertation research by reducing workloads and may be provided by the university or an external institution.
For example, the Charlotte W. Newcombe Dissertation Fellowships are open to late-stage PhD students in the humanities or social sciences. Students are elgible to earn a $31,000 stipend, which supports them in the writing phase of their dissertation.
Are there international graduate school scholarships?
There are multiple merit-based scholarships available for U.S. college graduates who wish to pursue postgraduate studies in other countries, particularly in the United Kingdom and in Ireland. These tend to be highly competitive.
For example, the Rhodes Scholarship supports students from around the world, including the U.S., in studying for a postgraduate degree at the University of Oxford in the United Kingdom. Applicants must demonstrate academic excellence and a commitment to public service.
The Marshall Scholarship allows U.S. students to study at any university in the U.K. Applicants must demonstrate academic excellence, a commitment to public service, and an interest in strengthening U.S.-U.K. cultural ties.
The George J. Mitchell Scholarship allows U.S. students to study at any university in the Republic of Ireland. Applicants must demonstrate academic excellence, a commitment to public service, and an interest in fostering cultural exchanges between the U.S. and Ireland.
U.S. students looking to pursue graduate studies, research, or teaching opportunities abroad can also apply for the Deparment of State's Fulbright Program scholarships, which can cover tuition and living expenses at non-U.S. universities.
Can I apply for a graduate school scholarship if I’m a part-time student?
Many graduate students attend school part-time so they can keep working and take out fewer loans for living expenses. Some graduate school scholarships require full-time attendance to qualify, but many will still accept part-time students.
If you're still working while you’re in school, you may also be able to get a scholarship or tuition assistance from your employer. For example, the Chick-fil-A Remarkable Futures Scholarship awards $25,000 to current team members who will be attending undergraduate or graduate school and who have demonstrated financial need. You must have worked there for at least 12 months and be an employee in good standing.
What are other ways to pay for graduate school?
If you're currently employed and plan to keep working while you’re in school, you may be able to receive tuition reimbursement through your employer.
Most employers require that the degree program be relevant to your current job. If you’re a graphic designer getting a master’s in psychology, you may not be eligible for tuition reimbursement. Many also require that you receive a certain grade to qualify for reimbursement. The cutoff will depend on the employer.
In addition, some employers may require that you work at the company for a certain period of time after your tuition has been paid for. If you leave before then, you may have to repay part or all of the reimbursed costs.
If you submit the FAFSA, you become eligible for direct unsubsidized federal student loans. You can also take out a private loan, though it is best to consider scholarships and federal loans before you do.
Graduate students are not eligible for federal Pell Grants.