Five Ways to Pay for Graduate School
Posted: September 17, 2025 | Author: Madelyn Bushman | Read Time: 5 minutes
Is the cost of graduate school keeping you from starting your master’s degree?
Pursuing a master’s degree at Southern Utah University can open doors to new career opportunities and personal growth, but the cost can be a significant hurdle. Staring at the price and examining the numbers can be overwhelming, and make you want to postpone graduate school until later in your career and life. Fortunately, there are numerous ways to pay for your education without breaking the bank.
Here’s a look at various strategies to help you pay for graduate school:
Scholarships
Scholarships are one of the most effective ways to fund your education. There are various types of scholarships that you can apply for or start looking into. Keep in mind that scholarships are subject to funding availability, applicant eligibility, and that applying for a scholarship does not guarantee an award.
Departmental Scholarships
SUU Master’s programs may have scholarships available for students within each program. So, when applying for graduate school, reach out to the program’s department to see if there are any scholarships available. Students can reach out to the program’s department head or advisor in order to learn about degree or research-specific scholarships.
Some SUU departments also offer tuition waivers to help make the graduate program degrees more affordable for students. Some of the graduate programs that offer partial tuition waivers for students at SUU are:
- Master of Accounting program
- Master of Business Administration program
- Master of Science in Business Analytics
- Master of Interdisciplinary Studies
It’s helpful to reach out, as many departments have funding options available for graduate students, but they do not aggressively promote them online.
University Scholarships
Many institutions, like SUU, offer scholarships based on academic performance, financial need, or specific fields of study.
SUU’s Financial Aid office assists with scholarships, helping all students find opportunities that can help them alleviate their financial stress.
Additionally, SUU offers the Let’s GO Master’s Degree Scholarship to help students begin their master’s education.
Additional Scholarships
There are various scholarship websites available to browse and apply for scholarships. Some scholarship databases are:
Tuition Reimbursement
Some employers will offer tuition reimbursement as a part of their employee benefits package, where they will reimburse employees for tuition fees or other education costs after the employee has initially paid for them. This can cover a significant portion of tuition costs, often up to a certain amount per semester.
Check with your HR department to see if your employer has a tuition reimbursement program. Or when applying for jobs, be on the lookout for such programs just in case. Many larger, more established companies offer tuition assistance to their employees, such as:
- Amazon
- Fidelity
- Procter & Gamble
- UPS
- Verizon
- Wells Fargo
- Bank of America
- Apple
- Chick-fil-A
- McDonald’s
- Jack in the Box
For example, Southern Utah University offers tuition waivers and benefits to its employees and faculty. Tuition waivers are available to all full-time employees and to the spouses of employees, where tuition and institutional student fees are waived for 9 or fewer credit hours per semester. Additionally, half-time employees are eligible to register for three or fewer credit hours without being charged tuition and regular fees.
Graduate Assistantships
There are graduate assistantships that are offered through the graduate departments, which help fund master’s degrees for students.
For example, SUU’s Master of Arts in Professional Communication offers opportunities for Online Utah Resident Students to apply for teaching assistantships and non-teaching assistantships that will help them fund their master’s degree while in the program. Reach out to your graduate program’s department to find out more about available assistantships.Loans
Federal loans are a reliable option if you need additional funding for your master’s degree. For example, direct unsubsidized loans can help graduate students borrow money in order to help pay their tuition and fees for graduate school. Also, Grad Plus Loans can help graduate students pay for education expenses that are not covered by other financial aid.
However, it’s important to understand the terms of loans. Be aware of the interest rates, repayment plans, and any associated fees before committing to a loan. Be sure to complete the FAFSA to determine your eligibility for loans and financial aid.
Alternative Income Streams
You may also want to consider supplementing your income while enrolled in graduate school. Here are a few ways that other graduate students have supplemented their income:
Part-time Jobs
Part-time jobs are a great way to add in more income to your life to help pay for graduate school, groceries, rent, and more. Look for flexible part-time positions that will fit your schedule. Additionally, many universities offer on-campus jobs that cater to students. For example, SUU offers on-campus jobs and occasionally remote jobs for students that will cater to their schedule while enrolled in courses.
Freelancing
Another way that graduate students have supplemented their income is by freelancing. If you have marketable skills, such as writing, graphic design, or tutoring, consider freelancing your work in order to earn extra money.
Side Hustle
Many students have a side hustle, or want to start a side hustle, that adds to their monthly income. For example, you could start a small business in a niche catered to your skills and hobbies, like candles or decorated cookies. Or you could mow lawns for the neighborhoods around you. Another example of a side hustle is landscaping yards in the spring and summer season or shoveling snow in the winter season. There are so many opportunities for you to start a side hustle that could add to your income and help pay for graduate school.
Paying for graduate school doesn’t have to be an overwhelming challenge. By exploring different options on how you can pay for graduate school, you can develop a financial plan that works for you.Investing in your education is an investment in your future. With careful planning and resourcefulness, you can achieve your academic goals without excessive financial stress.
Learn more about SUU’s graduate programs today.
Tags: Financial Wellness Prospective Students SUU Online
