Q&A for the Head Advisor

Ask the Head Advisor

The names have been changed, but the questions are real...

Q: If I decide to stay at my college and get a master's degree, will I be able to keep all the financial aid that I'm getting now?

-- Fiscal Fiona

A: Hi Fiona. Thanks for writing. Your question reminds me of these immortal words penned by the Wu Tang Clan:

"Cash Rules Everything Around Me

C.R.E.A.M.

Get the money

Dollar dollar bill y'all."

Paying for graduate school can be a challenge, and alas, no, you won't keep the same financial aid package from your undergraduate years. When you cross the stage at graduation and wave to Mom and Dad, you'll also be waving goodbye to the financial aid that helped you get there.

But there is new cash out there, and it's great that you're thinking about this now. You can start figuring out how much you'll need and you can develop your strategy for getting that money.

There are two main categories of cash for graduate school: institutional aid and outside aid. To get either type, you'll need to have top grades, great faculty recommendations, and a strong résumé.

Outside aid comes from fellowship and scholarship sponsors and is usually highly competitive. You'll need to work on your brand: "future public servant", "high-potential new immigrant", "education policy prodigy", etc. Take a look at CUNY’s guide, linked below, and make a list of fellowships and scholarships you might want to aim for. Your college probably has its own grants guide, so read through that as well.

And Fiona, since you're considering staying at your current college for graduate school, you now have twice as many reasons to befriend the faculty and staff in your department. The day will come when the graduate admissions committee is divvying up the research assistantships and teaching fellowships, and you'll want to be more than just another name on their list!

Web Resources

Guide to Prestigious Fellowships and Scholarships:

www.CUNY.edu/prestigious

www.finaid.org

www.kiplinger.com/magazine/archives/2006/01/gradschool.html