Scholarships, Fellowships and Grants
The first place M.Ed. candidates should look for financial awards is the school they are planning to attend. Most schools build aid into their budget, with nearly all funding going to students enrolled at that specific institution.
M. Ed students in particular should also check with local educational organizations, as many create award opportunities for students who plan to teach a specific subject, grade-level or school-type. Joining an honors society or teachers association in order to take advantage of their scholarship or fellowship opportunities is another option.
General or need-based scholarships that aren’t awarded by academic institutions are less available for graduate students. Below we’ve assembled a short list of education awards open to a broad pool of applicants.
- Editor's Picks
- Scholarships
The AECT Legacy Scholarships
- Amount
- $200
- Deadline
- TBA for 2016
The Applegate-Jackson-Parks Future Teacher Scholarship
- Amount
- $1,000
- Deadline
- December 31
James Madison Memorial Fellowship
- Amount
- Up to $12,000 annually
- Deadline
- August 31
Outlaw Student's Teacher Scholarship
- Amount
- $500
- Deadline
- TBA for 2016
Bright Futures Scholarship
- Amount
- $250-$1,000
- Deadline
- TBA for 2016
AFCEA Educational Foundation STEM Teacher Scholarship
- Amount
- $5,000
- Deadline
- TBA for 2016
Roothbert Fund Scholarship Grants
- Amount
- $2,000-$3,000
- Deadline
- February 1
Teacher Education Assistance for College and Higher Education (TEACH) Grant
- Amount
- $4,000
- Deadline
- Rolling Application
Loans
Whether they come from the government or a private lender, most loans must be repaid. Graduate students cannot receive Pell Grants, but they are still eligible for the Perkins Loan and other federal funds. It is important to keep in mind that all government loans offered to graduate students are unsubsidized; they begin to accrue interest the moment they are put into use. If they are your only form of financial aid, you will end up paying more in the long run.
Loan Comparison Chart
Eligibility Requirements | No previous federal loan defaults; Must attend school at least half time |
FAFSA | Yes |
Credit Check | No |
Amount Available | Up to $20,500/year; $138,500 for entirety of degree |
Interest Rates | Tied to 10-year treasury note + 3.6%; Maximum of 9.5% |
Fixed Rate/Subsidized | Yes/No |
Repayment | 6 months after leaving school |
Income-based repayment | Yes |
Forgiveness | After 20-25 years; 10 years for public servants |
Eligibility Requirements | Must attend school at least half time; acceptable credit |
FAFSA | Yes |
Credit Check | Yes |
Amount Available | Full cost of graduate study, including living expenses |
Interest Rates | Tied to 10-year treasury note + 4.6%; maximum of 10.5% |
Fixed Rate/Subsidized | Yes/No |
Repayment | Deferred until 6 months after school or after attendance drops below half time |
Income-based repayment | Yes |
Forgiveness | After 10 years if employed in nonprofit or government |
Eligibility Requirements | Must qualify as low-income student; income cut-off varies by school |
FAFSA | Yes |
Credit Check | No |
Amount Available | $8,000/year; varies according to college |
Interest Rates | 5% |
Fixed Rate/Subsidized | Yes/Yes |
Repayment | 9 months after leaving school |
Income-based repayment | Yes |
Forgiveness | Various Cases |
Eligibility Requirements | Based on credit |
FAFSA | No |
Credit Check | Yes |
Amount Available | Varies |
Interest Rates | Varies |
Fixed Rate/Subsidized | No/No (Usually) |
Repayment | Immediately (Generally) |
Income-based repayment | No |
Forgiveness | No |
Teacher, Graduate or Research Assistant Jobs
Similar to an undergraduate work-study job, TA, GA or RA positions often provide students with a stipend, taking a set amount off of their yearly tuition. Those pursuing a Master’s in Education stand to strongly benefit from a TA position; not only will it help cut the cost of school, but graduate students will gain valuable classroom experience. The best way to apply for one of these positions is to directly contact the department in which you want to work. You may also check your school’s job board.