Sallie Mae published a report titled How American Pays for Graduate School that details how graduate school financing differs from its undergraduate counterpart. While parents generally fund the bulk of undergraduate expenses, graduate school students pay over half themselves with grants and scholarships making up roughly 15% of the total.
Perhaps as a result, it’s no wonder why so many prospective graduate school applicants want to closely examine their options and try to ensure they will receive a positive return on their investments. The good news, of course, remains that graduate school can be worth it if the degree is in a high-paying field such as finance, medicine or STEM. Additionally, the prestige of the program, which is often directly related to the price, will make more of a difference if the field is business or law than medicine.
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