phd funding student loan

Best Ph.D. Student Loans

Expertise: Mortgages, real estate, investing, credit, debt, small businesses

Lauren Ward is a personal finance writer who regularly covers topics like mortgages, real estate, and investing.

Expertise: Insurance planning, education planning, retirement planning, investment planning, military benefits, behavioral finance

Erin Kinkade, CFP®, ChFC®, works as a financial planner at AAFMAA Wealth Management & Trust. Erin prepares comprehensive financial plans for military veterans and their families.

Ph.D. student loans offer a pathway to finance the extensive costs associated with higher education, covering everything from tuition to living expenses. We’ve identified the best Ph.D. student loans from the Department of Education and private lenders.

Use federal Ph.D. student loans first

If you must borrow using Ph.D. student loans, always max out federal student aid as your first funding source. Federal student loans , offered by the U.S. Department of Education, tend to be cheaper, provide more repayment flexibility, and come with other borrower perks, such as the potential for loan forgiveness.

Federal Direct Unsubsidized loans

The first federal loan option to consider is the Direct Unsubsidized Loan . These loans don’t require students to demonstrate any financial need and allow for up to $20,500 in annual federal funding toward your Ph.D. program, depending on your actual educational expenses.

One benefit is that you don’t need a cosigner or a credit check when you apply, which you do by filing the FAFSA . 

Federal Grad PLUS loans

The Department of Education offers Direct PLUS Loans to graduate students to cover advanced education. If you’re eligible, you could borrow up to the school-certified cost of attendance, minus any grants or scholarships you’ve received.

Unlike some federal loans, however, Grad PLUS Loans aren’t available to you if you have an adverse credit history, and you’ll need to undergo a credit check to prove you don’t.

Best private Ph.D. student loans

After maxing out your federal student loans, you may still need more money to pay for your doctoral degree . If that’s the case, you’ll need to look into getting private Ph.D. loans.

Private student loans tend to have higher interest rates, can be harder to qualify for, and have less flexible repayment plans. However, they can cover shortfalls in funding that otherwise might make getting your Ph.D. impossible.

Our team spent hours evaluating the options to choose the best Ph.D. student loans. Among other factors, we considered their options for deferment, repayment plans, cosigner policies, and grace periods .

• Best overall: College Ave
• Best for cosigners: Sallie Mae
• Best for no fees: Earnest

College Ave: Best overall

LendEDU rating: 5 out of 5

• Choose between 20 different repayment schedules
• 36-month grace period
• Deferment during residency

College Ave is an online lender offering new student loans and refinancing. The company covers a variety of doctorate programs, including those for Ph.D.s. 

It stands out in several ways, including a 36-month grace period. You can also get a cosigner release after just 24 consecutive on-time payments. 

Repayment terms go up to 15 years, which is a little shorter than some other lenders who let you spread payments out over 20 years. However, you can borrow anywhere from $1,000 up to the total cost of attendance each year. 

Sallie Mae: Best for cosigners

LendEDU rating: 4.8 out of 5

• Cosigner release after 12 months of consecutive on-time payments
• 48 months of deferment during residency and fellowship 
• No origination or prepayment penalty

Sallie Mae is the largest private student loan lender in the country. It offers loans for graduate students seeking a range of degrees and certifications, covering up to 100% of your educational costs.

Sallie Mae doesn’t have a Ph.D.-specific student loan product, but it offers graduate loans for students in master’s and doctorate programs.

Sallie Mae provides loans for up to 100% of your certified educational expenses, with no maximum loan limit. Repayment terms are up to 15 years, and cosigners can be released after 12 months of on-time payments. Though Sallie Mae loans are not federal, student borrowers may still be eligible for loan payment deferment in 12-month increments.

Earnest: Best for large loans

LendEDU rating: 4.7 out of 5

• Skip a payment once per year, if needed
• Check your rate without affecting your credit

Earnest is a popular online lender offering private student loans and the ability to refinance existing student loans. The Earnest Graduate School Loan covers Ph.D. programs in all states except Nevada. 

These can help cover between $1,000 and up to 100% of your school-certified educational costs. You can choose from five repayment terms, and Earnest provides a nine-month grace period.

Best Graduate Student Loans

How to get Ph.D. student loans

A graduate loan can be an important step in paying for your Ph.D. degree program. Whether you’re looking to cover tuition and fees, housing, or even miscellaneous expenses (such as a laptop for class), federal and private student loans can help.

Our expert’s take on loans for Ph.D. students

Erin Kinkade

The amount of student loans needed for a Ph.D. program will likely be more than a bachelor’s or master’s degree. But along with that, the earning potential could be greater and facilitate an easier repayment.  It’s important to understand the repayment terms; try to make extra payments while pursuing the Ph.D., and don’t wait until you graduate or get a job, if possible. Of course, make room in your budget for this payment, and when job searching, ask whether the employer offers any benefits for paying back student loans, such as 401(K) employer plan matching , which takes effect on January 1, 2025. This will assist with “lost” retirement savings and help you gain traction to meet your retirement goals.

To gain access to these loans, you must do the following.

• Fill out the FAFSA. The Free Application for Federal Student Aid is a form you must fill out months in advance before the deadline for each year you want financial aid. It helps determine your financial need. This is required if you hope to take out federal loans for any part of your educational expenses.
• Consider federal loans. Federal student loans have protections and features that private loans don’t offer. While you may be limited in how much you can borrow based on financial need and annual limits, consider borrowing as much as you can with federal loans before turning to private loans.
• Shop around for a private loan. If you’ve exhausted all your other options (including scholarships, grants, educational savings, and federal loans), it may be time to turn to private loans. Shopping around is a wise step when looking for the right private student loan, and it can help you find the right loan with the right terms and rates.
• Add a cosigner. If your credit history is limited, you have a low score, or you don’t meet the income requirements for a particular lender, consider adding a creditworthy cosigner to your private loan(s). This cosigner will be held equally responsible for your loans until you refinance or release them, but adding them initially can often unlock lower rates and higher loan limits.
• Provide documentation. Before disbursing your loan, your new lender may want to see some documentation. This could include proof of employment, academic progress, identity, and more.
• Get your loan. Once approved, your loan funds will be sent directly to your school, where they’ll be applied to any outstanding balance. The difference will often be refunded to you after the start of the semester.

Alternatives to a Ph.D. student loan

If you’re looking for alternatives to Ph.D. student loans, consider these funding options that could help lower the cost of attendance. 

Tuition reimbursement

Look into tuition reimbursement programs with your employer—where your employer will repay a portion of your tuition costs in exchange for an employment contract.

Program support

Some Ph.D. programs offer financial support, which can be structured in several ways. The first is a fully funded Ph.D. program, which covers tuition, fees, and a stipend for living expenses. 

You can also search for Ph.D. fellowship programs. You get financial help during your studies based on merit, and there may be a service requirement attached to the funding. 

Which Ph.D. student loan is the best?

When it comes to taking out loans for your Ph.D. program, federal student loans are usually the best place to start your search. Federal loans offer more benefits and protections than private student loans. They may even allow you to have some of your debt forgiven later on, particularly if you plan on working in public service. 

If you must turn to private funding, the best Ph.D. student loan for you is the one that offers approval at the lowest interest rate, with the best repayment terms for your unique situation. This lender may be different for each student borrower, so it’s wise to shop around first.

Do I need a cosigner for Ph.D. student loans?

Depending on your credit history, credit score, and current income, you may need to add a cosigner to qualify for a private Ph.D. loan. In exchange for adding a creditworthy cosigner, you may be eligible for certain loans, rates, and repayment terms you didn’t qualify for on your own. Depending on the lender, you may be able to release your cosigner from this obligation later on, once you’ve made a certain number of on-time payments.

Do Ph.D. student loans cover living expenses?

A Ph.D. loan can help cover your school-certified expenses, which may include housing. It’s important to note that some lenders (including federal student loan lenders) may have annual or aggregate limits. If you take out too much for tuition and fees, you may need to consider adding a private loan to cover your living expenses, too.

How much can I borrow with Ph.D. student loans?

The amount you can borrow with a Ph.D. student loan depends on the type of loan and even the specific lender. With federal graduate loans, you are limited to a maximum of $20,500 per year (though certain healthcare fields may qualify for higher limits). With private loans, you may be able to take out up to 100% of your eligible expenses.

When does repayment on Ph.D. student loans start?

Once you drop below half-time enrollment or graduate (depending on the lender), your grace period will usually begin. This grace period often ranges from six to nine months in length, during which you don’t need to make any Ph.D. loan payments. After that grace period, repayment will typically start.

Recap of the best Ph.D. student loans

• Credit cards
• View all credit cards
• Banking guide
• Loans guide
• Insurance guide
• Personal finance
• View all personal finance
• Small business
• Small business guide
• View all taxes

You’re our first priority. Every time.

We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners .

Financial Aid for Graduate School: Who Qualifies and How to Apply

Cecilia Clark is a writer and spokesperson on the education team. She covers student loan refinance and manages product reviews and roundups. Previously, she worked as a freelance writer and developed communications strategies for cybersecurity firms. Cecilia has also worked in post-secondary education, elevator operations management and sales and military nuclear command control, maintenance management and public affairs.

Des Toups was a lead assigning editor who supported the student loans and auto loans teams. He had decades of experience in personal finance journalism, exploring everything from car insurance to bankruptcy to couponing to side hustles.

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Key takeaways

Financial aid for graduate school includes grants, scholarships, fellowships, assistantships and loans.

Exhaust all opportunities for free aid before considering student loans.

If you take out student loans, borrow federal direct loans first. For additional funding, compare offers between federal PLUS loans and private loans to see where you’ll get the best deal.

If you’re considering graduate school, make sure you have a funding plan in place ahead of time. Costs for graduate school can vary greatly depending on the type and length of the program, but there are opportunities to help cut down out-of-pocket costs.

Graduate students can get financial aid through:

FAFSA: The Free Application for Federal Student Aid provides access to federal, state and some school-based grants.

Organization grants: Industry-specific organizations may provide grants to those studying in relevant fields.

Scholarships: State governments, schools and private organizations may provide scholarships for academic excellence or other factors, like studying in high-needs fields or increasing diversity.

Fellowships: Schools, private organizations and government entities offer fellowships based on field of study and academic performance in exchange for research activities.

Assistantships: Schools may award living stipends and tuition waivers to full-time students in exchange for work.

Employer tuition assistance: Employers may offer to reimburse their employees’ tuition expenses as an employment benefit.

Here’s who qualifies and how to apply for each type of aid.

» MORE: How to pay for grad school: 5 strategies for students

Top Private Student Loan Lenders

Best private student loan overall.

4.17-16.69% College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. As certified by your school and less any other financial aid you might receive. Minimum $1,000. Rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/14/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

Variable APR

5.59-16.85% College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. As certified by your school and less any other financial aid you might receive. Minimum $1,000. Rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/14/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

Min. credit score

on College Ave's Visit this lender's site to take next steps.

on Credible Credible lets you check with multiple student loan lenders to get rates with no impact to your credit score. Visit their website to take the next steps.

4.25-15.49% Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 5/31/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.

5.37-15.70% Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 5/31/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.

Mid-600's

on Sallie Mae's Visit this lender's site to take next steps.

Complete the Free Application for Federal Student Aid, or FAFSA , as your first step to funding your graduate education. Citizens and eligible non-citizen graduate students, including permanent residents and U.S. nationals, are eligible to file.

You must file the FAFSA to qualify for federal and state-based grant awards. Many school-based grants also require the FAFSA.

Federal grants for graduate students include the Teacher Education Assistance for College and Higher Education, or TEACH, grant. The TEACH grant provides up to $4,000 a year to education students who will teach in a low-income school or high-needs field after graduation.

Contact the department of education for your state and your school’s state to learn more about state-based grant opportunities.

Contact your school’s financial aid office to learn more about school-based grants and ask your department head about industry-specific grants.

» MORE: Guide to grants for college

Scholarships

Scholarships are available at the state, local and school levels. These awards are based on various eligibility criteria, which can include field of study and academic achievement. Some scholarships are also need-based or allocated only for certain demographics.

Apply for as many scholarships as you qualify for to increase your chances of getting the most money.

Check the Department of Labor’s Scholarship Finder or National Association of Student Financial Aid Administrators’ state-based scholarship search tool to find programs.

Contact your school’s financial aid office and department head about specific scholarship programs you may be eligible for.

» MORE: How to get a scholarship

Fellowships and assistantships

Eligibility requirements and service commitments for fellowship and assistantship programs vary. While fellowships are offered by schools, private organizations or government agencies, assistantships typically only come from the school.

With a fellowship, you may perform research activities outside of your school and payment may not be directly tied to tuition. As assistantships are generally school-based, they are more likely to directly provide full or partial tuition waivers. Some assistantships also come with living stipends .

Contact your financial aid office about school-based fellowships and assistantships, including teaching and resident assistantships. Search the zintellect database, which has ties to the Department of Education and a consortium of Ph.D.-granting institutions, for government and private-sector fellowships.

» MORE: Is a masters degree worth it?

Employer tuition assistance

According to a 2020 survey by the Society for Human Resource Management, or SHRM, about 47% of employers offer tuition assistance as part of their benefits package. This benefit can be in the form of tuition reimbursement, where the employer gives a lump sum to employees after they prove their tuition expenses. Other companies may pay tuition costs directly to the school, so the employee doesn't have to front the bill.

The amount of reimbursement varies by employer. The most common benefit ranges from $5,000-$5,999, according to a 2019 report by the International Foundation of Employee Benefit Plans.

Contact your human resources team to ask about your company’s tuition assistance benefit. Make sure to verify that graduate school tuition qualifies. You also want to get an understanding of any service commitments that come with accepting the benefit. Some employers require you to stay with the company for a certain period after the reimbursement funds are disbursed.

If you exhaust all of your opportunities for aid that doesn’t have to be repaid, look to student loans to fill the remaining funding gaps for graduate school. Schools may include student loans as part of your aid package, but you have to repay them.

Filing the FAFSA typically qualifies you for direct unsubsidized federal student loans. As a graduate student, you can borrow up to $20,500 each year. These loans will accrue interest while you are in school, but typically come with lower interest rates than their private loan counterparts. They also offer repayment options that private student loans don’t, like income-driven repayment .

» MORE: Government student loans: What are the benefits?

If you still need more funding, compare offers between the Grad PLUS loan from the federal government and options available with private student loan companies .

Unlike other federal student loans, PLUS loans require a hard credit check and may come with a higher rate than you can get with a private lender. But if you think you’ll need the protections of federal student loans, they’re still a better option.

On a similar note...

• Student Loans

How to Pay For Graduate School With Scholarships, Grants And Fellowships

Updated: Aug 22, 2023, 1:00pm

A master’s degree can often guarantee higher earnings than a bachelor’s degree, but it can also come with more student loan debt. Approximately 60% of those who complete graduate school have student loans , with an average balance of $66,000, according to a study by Northeastern University.

But before you get discouraged by the cost of earning a master’s degree, know that you may not have to pay the full price yourself. By using graduate school scholarships, grants and fellowship programs, you can save money and reduce the need for student loans. We’ll walk you through how to find the right program for you, without having to pull out more in student loans .

How to Find Free Ways to Pay For Grad School

The median earnings for master’s degree holders is $77,844—nearly $13,000 more than those with a bachelor’s degree. However, the cost of graduate school can be steep. The National Center for Education Statistics reported that the average cost of tuition and fees—not including room and board—is $19,314 per year, or over $38,000 to complete a two-year program.

Thankfully, there are many financial aid programs specifically designed for graduate students, including scholarships, grants and fellowships.

Graduate School Scholarships

Scholarships for graduate students are awarded by schools, nonprofit organizations and private companies. They’re usually based on academic and professional achievements. There are thousands of scholarship opportunities available; below are just a sampling of potential awards.

• American Indian Education Fund : Through the graduate school scholarship program, the American Indian Education Fund awards scholarships of $1,000 to $2,000 to eligible American Indian, Alaska Native and Native Hawaiian students pursuing a graduate or doctoral degree.
• Davis-Putter Scholarship Fund : The Davis-Putter Scholarship Fund is a nonprofit organization focused on social change. Its scholarship program gives up to $15,000 to graduate students that plan to use their degrees to advocate against racism, sexism, homophobia and other forms of oppression.
• Foster G. McGaw Graduate Student Scholarship : Awarded by the American College of Healthcare Executives , this scholarship gives recipients up to $5,000. It’s for students in their final year of a healthcare management graduate program.
• American Speech-Language-Hearing Foundation : The ASHFoundation scholarship offers awards of $5,000 for those who are enrolled in a communication sciences and disorders graduate program.

Grants for Grad School

While scholarships are usually based on past achievements, grants are awarded based on your financial need. As a graduate student, you may be eligible for federal or state grants, and some nonprofit organizations issue grants as well. For example:

• American Association of University Women : Through the Career Development Grant , women going to graduate school to advance their careers or change fields can get up to $12,000. To qualify, the applicant must be studying education, health, medical sciences or the social sciences.
• TEACH Grant : With a federal TEACH Grant , you can get up to $4,000 per year to pay for your graduate degree. However, you must commit to teaching in a high-need subject for at least four years in an elementary or secondary school that serves low-income students. Otherwise, your grant is converted into a student loan and must be repaid with interest.
• California State University Grant Program : This program gives eligible graduate students that are California residents up to $7,176 to pay for their degrees. Awards are determined by financial need and the degree you’re pursuing.

Fellowships for Graduate Students

Fellowships are often awarded based on your future potential, rather than your past achievements. Issued by government agencies, companies and nonprofit organizations, fellowships are designed to give you the funding you need to advance your career or complete your research. Here are a few to consider:

• Goldman Sachs MBA Fellowship : The Goldman Sachs MBA Fellowship program is for first-year MBA students pursuing a summer associate position with the company. Students must be Black, Hispanic or Latino, Native American or identify as women. Fellowship recipients will get $35,000 on top of their summer associate salary.
• Paul & Daisy Soros Fellowship : The Paul & Daisy Soros Fellowship is for immigrants and the children of immigrants that the organization believes will make significant contributions to society or culture. Fellows receive up to $90,000 over two years.
• National Science Foundation Fellowship : The National Science Foundation Graduate Research Fellowship Program recruits individuals in science, technology, engineering and mathematics (STEM) fields. Past recipients include over 40 Nobel Laureates. It’s a five-year award program totaling $138,000 in financial assistance.

Grants vs. Scholarships

Grants and scholarships are two types of aid that usually don’t have to be repaid, but they work differently. Here’s how they compare.

When To Apply for Scholarships and Grants

Begin applying for scholarships and grants as soon as possible. Ideally, you’ll back about these awards before the school year starts (or early on) so you can determine if you have any funding gaps.

The actual deadlines for scholarships and grants can vary. Most scholarship deadlines fall between October and May, according to Scholarship.com. Since scholarships may involve writing essays and submitting recommendations, it’s best not to wait to apply.

You’ll need to complete the FAFSA for state, federal and institutional aid. The application opens each October before the start of the school year and closes in June of that school year. For example, the 2023-2024 school year application opened on October 1, 2022 and closes on June 30, 2024.

States may also have their own FAFSA deadline . Submit your application soon after the open dates since money may be limited and funds could be awarded on a first-come-first-serve basis.

3 Tips To Apply for Scholarships and Grants

If you’re looking for grants and scholarships for graduate students, follow these tips:

1. Fill Out the Free Application for Federal Student Aid (FAFSA)

Even as a graduate student, completing the FAFSA is a crucial first step in applying for financial aid. It’s what the government and many schools use to determine your eligibility for awards, including grants and student loans.

2. Apply for Multiple Opportunities

You’re not limited to only one or two awards. You can combine multiple scholarships and grants to reduce your expenses. You can find scholarships for graduate students using resources like The College Board’s Scholarship search tool , Sallie Mae’s database , and FastWeb .

3. Pay Attention to Deadlines

Deadlines vary by issuing organization, so research available opportunities early and set reminders for applicable deadlines. Make sure you follow the program’s application directions and submit your materials by its deadline.

Applying for Fellowships

The application process for fellowships can be more involved than it is for graduate school scholarships and grants. Most fellowship programs are highly competitive, and require evidence of your potential within your field. You may need to complete a research proposal, submit multiple letters of recommendation, collect transcripts and create a detailed curriculum vitae (CV).

To find fellowship opportunities, you can check with your university and related professional associations. You can also search for fellowships using ProFellow.com .

Paying for Graduate School

While graduate school can be expensive, earning a master’s degree can have a positive return on your investment. And by utilizing grants, fellowships and scholarships for graduate students, you can lower your education costs so you don’t need to borrow as much money to pay for school. With some extra work and a little luck, you may be able to completely avoid graduate student loans .

Find the Best Private Student Loans of 2024

Frequently asked questions (faqs), what are other financing options for grad school.

If scholarships, grants and fellowships can’t cover the full cost of grad school, you could use loans to pay for the remaining expenses. Financing options include:

• Unsubsidized Direct loans. Unsubsidized Direct loans are federal loans for undergraduate and graduate students not based on financial need. These loans come with fixed interest rates and can qualify for loan forgiveness programs and income-driven repayment (IDR) plans like the new Saving on a Valuable Education (SAVE) plan.
• Grad PLUS loans. Grad PLUS loans are federal loans specifically for graduate and professional students. Interest rates on grad PLUS loans are higher than other federal loans, so it’s best to use them only after exhausting all other federal loan options. Grad PLUS loans may also qualify for loan forgiveness programs and IDR plans, including the new SAVE plan.
• Private student loans. Lenders offer private student loans , but these loans don’t have the same borrower benefits as federal loans. However, interest rates on private graduate student loans may be lower than federal loans if you have good credit.

Are there any requirements for receiving grants and scholarships?

Grants are typically offered based on the applicant’s financial need, while scholarships may be based on financial need and professional, athletic or academic achievements.

When qualifying for grants, the cost of your school and your family’s ability to contribute to your education are considered. Scholarship applications may require a copy of your college transcripts, essays and other documentation showing a record of achievement.

How can I improve my chances of getting financial aid for grad school?

First, apply for financial aid early. Applying early could improve your chances of getting need-based aid since it can be offered on a first-come, first-served basis. Next, consider applying to several schools to receive and compare multiple offers. If you don’t get as much aid as expected or your financial situation changes after submitting the FAFSA, you could ask the school to reevaluate your offer, which might help you get more assistance.

How is a fellowship different from a scholarship?

A graduate fellowship is an academic or professional enrichment opportunity. Typically, fellows receive a stipend in cash while training, studying, researching or participating in a project. You can use the stipend funds to pay for school or other expenses. Scholarships generally don’t require ongoing professional development and are based on past achievements. Funds from scholarships may also go directly to the school to cover tuition.

Get Forbes Advisor’s ratings of the best lending platforms and helpful information on how to find the best loan based on your credit score.

• Best Private Student Loans
• Best Student Loan Refinance Lenders
• Best Low-Interest Student Loans
• Best Student Loans For Bad or No Credit
• Best Parent Loans For College
• Best Graduate Student Loans
• Best Student Loans Without A Co-Signer
• Best International Student Loans
• Best 529 Plans
• SoFi Student Loans Review
• College Ave Student Loans Review
• Earnest Student Loans Review
• Ascent Student Loans Review
• Citizens Bank Student Loans Review
• Student Loan Calculator
• Student Loan Refinance Calculator
• Net Price Calculator
• What Is The FAFSA ?
• Applying Financial Aid Using The FAFSA
• When Is The FAFSA Deadline ?
• Answers To Biggest FAFSA Questions
• FAFSA Mistakes To Avoid
• Guide To Hassle-Free FAFSA Renewal
• How To Correct Or Change Your FAFSA
• How Do Student Loans Work?
• How To Get A Private Student Loan
• How To Refinance Student Loans
• How To Get A Student Loan Without Co-Signer
• How To Apply For Federal & Private Student Loans
• How To Pay Off Student Loan Debt
• How To Recover From Student Loan Default
• How Much Can You Borrow In Student Loans?

Next Up In Student Loans

• Best Student Loan Refinance Lenders Of July 2024
• Student Loan Calculator: Estimate Your Payments
• Best Private Student Loans Of July 2024
• Best Low-Interest Student Loans Of July 2024
• Best Parent Loan For College Of July 2024: Parent PLUS Loan & Private Options
• How To Get A Student Loan Without A Co-Signer

Private Student Loan Rates: July 8, 2024—Loan Rates Slip

Private Student Loan Rates: July 2, 2024—Loan Rates Decrease

Federal Judges Pause Parts Of SAVE Student Loan Forgiveness Program

SoFi Student Loans Review 2024

Private Student Loan Rates: June 25, 2024—Loan Rates Rise

Private Student Loan Rates: June 17, 2024—Loan Rates Fall

For the past seven years, Kat has been helping people make the best financial decisions for their unique situations, whether they're looking for the right insurance policies or trying to pay down debt. Kat has expertise in insurance and student loans, and she holds certifications in student loan and financial education counseling.

• Credit Cards
• All Credit Cards
• Find the Credit Card for You
• Best Credit Cards
• Best Rewards Credit Cards
• Best Travel Credit Cards
• Best 0% APR Credit Cards
• Best Balance Transfer Credit Cards
• Best Cash Back Credit Cards
• Best Credit Card Sign-Up Bonuses
• Best Credit Cards to Build Credit
• Best Credit Cards for Online Shopping
• Find the Best Personal Loan for You
• Best Personal Loans
• Best Debt Consolidation Loans
• Best Loans to Refinance Credit Card Debt
• Best Loans with Fast Funding
• Best Small Personal Loans
• Best Large Personal Loans
• Best Personal Loans to Apply Online
• Best Student Loan Refinance
• Best Car Loans
• All Banking
• Find the Savings Account for You
• Best High Yield Savings Accounts
• Best Big Bank Savings Accounts
• Best Big Bank Checking Accounts
• Best No Fee Checking Accounts
• No Overdraft Fee Checking Accounts
• Best Checking Account Bonuses
• Best Money Market Accounts
• Best Credit Unions
• All Mortgages
• Best Mortgages
• Best Mortgages for Small Down Payment
• Best Mortgages for No Down Payment
• Best Mortgages for Average Credit Score
• Best Mortgages No Origination Fee
• Adjustable Rate Mortgages
• Affording a Mortgage
• All Insurance
• Best Life Insurance
• Best Life Insurance for Seniors
• Best Homeowners Insurance
• Best Renters Insurance
• Best Car Insurance
• Best Pet Insurance
• Best Boat Insurance
• Best Motorcycle Insurance
• Best Travel Insurance
• Event Ticket Insurance
• Small Business
• All Small Business
• Best Small Business Savings Accounts
• Best Small Business Checking Accounts
• Best Credit Cards for Small Business
• Best Small Business Loans
• Best Tax Software for Small Business
• Personal Finance
• All Personal Finance
• Best Budgeting Apps
• Best Expense Tracker Apps
• Best Money Transfer Apps
• Best Resale Apps and Sites
• Buy Now Pay Later (BNPL) Apps
• Best Debt Relief
• Credit Monitoring
• All Credit Monitoring
• Best Credit Monitoring Services
• Best Identity Theft Protection
• How to Boost Your Credit Score
• Best Credit Repair Companies
• Filing For Free
• Best Tax Software
• Best Tax Software for Small Businesses
• Tax Refunds
• Tax Brackets
• Taxes By State
• Tax Payment Plans
• Help for Low Credit Scores
• All Help for Low Credit Scores
• Best Credit Cards for Bad Credit
• Best Personal Loans for Bad Credit
• Best Debt Consolidation Loans for Bad Credit
• Personal Loans if You Don't Have Credit
• Best Credit Cards for Building Credit
• Personal Loans for 580 Credit Score Lower
• Personal Loans for 670 Credit Score or Lower
• Best Mortgages for Bad Credit
• Best Hardship Loans
• All Investing
• Best IRA Accounts
• Best Roth IRA Accounts
• Best Investing Apps
• Best Free Stock Trading Platforms
• Best Robo-Advisors
• Index Funds
• Mutual Funds
• Home & Kitchen
• Gift Guides
• Deals & Sales
• Amazon Prime Day
• Sign up for the CNBC Select Newsletter
• Subscribe to CNBC PRO
• Privacy Policy
• Your Privacy Choices
• Terms Of Service
• CNBC Sitemap

Follow Select

Our top picks of timely offers from our partners

Compare Personal Loans

The best graduate student loans of july 2024, these top lenders can help graduate student loan borrowers of all types..

Deciding whether or not to go to graduate school is an expensive decision to make. Graduate degree programs typically cost more than undergraduate programs, plus some students enter their grad school era already carrying student loan debt from their undergrad years.

At the same time, however, grad school can pay off. Many people pursue an advanced degree to become more specialized in their field and, ideally, earn more money in the future.

To lessen the burden that an advanced degree can have on your finances, give good consideration to how you'll pay for it. The most favorable borrowing option for graduate students is generally federal direct unsubsidized loans through the government. But because there's an annual $20,500 limit, you'll likely need to turn to grad PLUS loans or private student loans to finance the rest.

CNBC Select  set out to find the best graduate school student loans from private lenders. In choosing the top ones, we focused on lenders' loan amounts, loan specializations offered, credit requirements and eligibility, as well as repayment terms, interest rates and fees. (See our methodology for more information on how we made this list.)

Best graduate student loans

• Best for instant credit decision : College Ave
• Best for multi-year financing : Citizens Bank
• Best for applying with a co-signer : Sallie Mae
• Best for applying without a co-signer : Ascent
• Best for fair credit : Earnest
• Best for a grad-level certificate : SoFi

Compare offers to find the best student loan

Best for instant credit decision, college ave, eligible borrowers.

Undergraduate and graduate students, parents

Loan amounts

$1,000 minimum; maximum cost of attendance

Range from 5 to 20 years

Variable and fixed

Borrower protections

Deferment, forbearance and grace period options available

Co-signer required?

Only for international students

Offer student loan refinancing?

Yes - click here for details

Terms apply.

• High loan amount
• Flexible repayment terms
• Variable and fixed rates, so you can choose
• Borrowers have hardship protections
• No co-signer required for U.S. students
• Offers co-signer release
• No origination, application or prepayment fees
• 0.25% interest rate discount for autopay
• Offers student loan refinancing
• Accepts in-school payments
• Non-cosigned loans tend to charge higher interest rates
• Co-signer release can't be made until half of repayment term has passed

With College Ave , borrowers can apply within minutes and get an instant decision on their student loan so they can quickly know their next move.

[ Jump to more details ]

Best for multi-year financing

$150,000 maximum, or cost of attendance, whichever is lower

Range from 5 to 15 years

Forbearance options available

• No co-signer required
• Up to 0.50% interest rate discount for autopay
• Loan amount is limited to $150,000 maximum, or cost of attendance, whichever is lower

Instead of having to re-apply each year for grad school funding, Citizens Bank lets borrowers apply for all years in one go. This relieves the stress of worrying about how you'll pay for that next semester. (Borrowers may need to verify their continued eligibility.)

Best for applying with a co-signer

Sallie mae student loan.

Undergraduate and graduate students, borrowers seeking career training

$1,000 minimum; maximum up to cost of attendance

Range from 10 to 15 years

Deferment and forbearance options available

Read our Sallie Mae student loan review .

• Loans available to part-time students
• Co-signer release after 12 payments
• No student loan refinancing
• No parent loans
• Hard credit check to prequalify 
• Doesn’t disclose credit score requirements
• Late fee and returned payment charge

Sallie Mae offers a co-signer release option with a relatively easy-to-meet threshold: Borrowers can apply to let go of their co-signer after they graduate, make 12 on-time principal and interest payments and meet certain credit requirements. This could be an incentive for a co-signer to sign on, knowing they don't have to be on the hook the whole loan term.

Best for applying without a co-signer

Ascent® funding.

Qualifying undergraduate juniors and seniors, graduate students

Up to $200,000 for undergraduate and $400,000 for graduate loans

• Considers borrowers with no credit
• Up to 1% interest rate discount for autopay
• 1% cash back rewards
• Doesn't offer student loan refinancing

Ascent can be a good lender to consider if you don't have access to a co-signer. Borrowers without a co-signer must meet the following requirements to get a grad school loan: either a U.S. citizen, U.S. permanent resident or someone with DACA status, an annual income of at least $24,000 and at least two years of credit history. There are minimum credit score requirements as well, but these vary. To help with your grad school funding, Ascent also offers graduate school scholarships .

Best for good credit

Undergraduate and graduate students, parents, half-time students, international and DACA students

$1,000 minimum (or up to state); maximum up to cost of attendance

9-month grace period

• Applicants with fair credit can qualify
• No origination or prepayment fees
• Allows qualified borrowers to skip one payment every 12 months and make it up later
• No co-signer release option available
• Variable rates not available everywhere

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 5.19% APR to 9.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.99% APR to 9.74% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. The maximum rate for your loan is 9.99% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account.

Those with good credit should look to private lender Earnest to help finance their graduate degree. Earnest allows borrowers — or their co-signers — with a minimum FICO® Score of 665 to apply. Earnest also stands out for offering a Rate Match Guarantee where the lender will match a competing lender's rate, plus give a $100 Amazon gift card upon rate match confirmation.

Best for a grad-level certificate

Undergraduate and graduate students, parents, health professionals

$5,000 minimum (or up to state); maximum up to cost of attendance

Range from 5 to 15 years; up to 20 years for refinancing loans

Offer parent loan?

• 0.125% interest rate discount on any additional SoFi lending product
• Loan size minimum of $5,000

It can be harder to find financing for those seeking just a graduate certificate instead of a full-on graduate degree since not all graduate certificate programs qualify for federal aid. However, SoFi provides lending to eligible borrowers in graduate-level certificate programs, as well as to half-time graduate students (which not many private lenders accommodate).

More on our top graduate school student loans

College Ave offers competitive interest rates, plus no application, origination or prepayment fees. Borrowers can choose a fixed or variable rate and there's a 0.25% rate discount when signing up for autopay. College Ave also offers hardship protections like deferment, forbearance and grace period options. Borrowers with College Ave student loans can start repaying while still in school.

In addition to a generic graduate student loan, College Ave offers financing for those pursuing degrees in the following programs: dental, law, medical, MBA and health professions.

Eligible loans

Undergraduate and graduate loans, parent loans

5, 8, 10, 15 years; graduate loans up to 20 years

[ Return to account summary ]

Citizens Bank

Citizens Bank is a big bank that offers competitive student loan rates, plus no application, origination or prepayment fees. Citizens Bank also offers hardship protections like forbearance, and student loan borrowers can start repaying while still in school.

Citizens Bank provides loans for master's degrees, MBAs, law school, medical school and dental school.

5, 10, 15 years

Sallie Mae has interest rates that are competitive with other private lenders, and they can be variable or fixed. Borrowers can score a 0.25% autopay rate discount and take advantage of no origination, application or prepayment fees. Borrower protections include deferment and forbearance. Sallie Mae lets its borrowers start repaying their loans while still in school.

Sallie Mae offers general graduate school loans (for master's or doctoral degrees), MBA loans, medical school and medical residency loans, health professions loans, dental school and dental residency loans, law school and bar study loans.

Undergraduate and graduate loans

10, 15 years

Ascent borrowers can choose between a fixed or a variable rate, and there's an up to 1% interest rate discount for autopay. There are no fees for paying off your loan early, as well as no origination or application fee. Ascent also offers  rewards  like 1% cash back on principal loan amounts at graduation. There are also deferment and forbearance options available to borrowers. Ascent student loan borrowers can start making their payments while in school.

Ascent offers the following graduate school loan options: MBA loans, medical school loans, dental school loans, law school loans, doctorate and master's loans, plus health professional loans.

$2,001 minimum; maximum up to $200,000 for undergraduate loans and up to $400,000 for graduate loans

5, 7, 10, 12, 15, 20 years

With Earnest , there are competitive interest rates and the option to choose between variable or fixed. Borrowers will also get a 0.25% autopay rate discount. There are no origination fees or prepayment penalties. Borrower protections include a 9-month grace period and borrowers can make payments while in school.

Earnest offers general graduate student loans, MBA loans, medical school loans and law school loans.

Undergraduate and graduate loans, parent loans, international and DACA student loans

5, 7, 10, 12, 15 years

SoFi offers solid interest rates, both fixed and variable, as well as a 0.25% autopay rate discount. There are no application or origination fees and no prepayment penalties. Borrowers can get unemployment protection and other forbearance options, plus make student loan payments while still in school.

SoFi offers general graduate school loans, law school loans, MBA loans and health professions loans. As a SoFi student loan borrower, you'll get exclusive member benefits  like premium travel offers, personalized career advice, financial planning from real-life advisors and more.

5, 7, 10, 15 years; refinancing loans up to 20 years

Compare offers to find the best personal loan

Types of graduate school loans.

Graduate student loans consist of both federal and private loans. Under the federal student loan umbrella, there are federal direct unsubsidized loans and grad PLUS loans. (Unlike undergraduate borrowers, graduate borrowers can't access federal direct subsidized loans.)

Federal direct unsubsidized loans are low-interest, fixed loans that don't have any credit requirements and come with federal benefits like income-driven repayment (IDR) plans and loan forgiveness programs. Borrowers can only borrow up to $20,500 per year, however.

To finance the rest of grad school after reaching this limit, borrowers can either turn to the other federal loan option, grad PLUS loans or private student loans.

Grad PLUS loans and private student loans both require a credit check but should be weighed against one another. PLUS loans come with federal borrower protections but charge a loan origination fee. Meanwhile, many private lenders offer zero origination fees and lower interest rates for those with good credit. Plus, private lenders tend to have loans for specialized programs such as law school, medical school, dental school, residencies, MBAs or certain health professions, as well as general graduate loans for those pursuing a master's or doctoral degree.

What kind of loan is best for graduate school?

The loan that's best for graduate school is a federal student loan from the government, also known as federal direct unsubsidized loans. Note that grad students can't get access to subsidized loans like undergraduate students can. Federal direct unsubsidized loans have low, fixed interest rates and come with all the typical federal benefits like income-driven repayment (IDR) plans and loan forgiveness programs. Borrowers aren't required to meet any credit requirements like they have to with private student loans.

What is a good interest rate for grad school loans?

A good interest rate for grad school loans is in line with the current rate on federal direct unsubsidized loans for graduate students, which, at the time of this writing, is 7.05% .

How can I get the best student loans for graduate school?

To get the best student loans for graduate school, start by filling out and submitting the FAFSA ® form (Free Application for Federal Student Aid) to see what federal aid you qualify for. This type of aid can include federal student loans, scholarships, grants and work-study. After you exhaust all federal aid — and any college savings you have — then move on to a private lender on this list to fill in any financial gaps.

What is the maximum federal loan for graduate school?

The maximum federal loan for graduate school is up to $20,500 per year (unsubsidized only).

Bottom line

The best graduate school student loans are federal direct unsubsidized loans from the government. But because they have a funding limit of up to $20,500 per year, to fill in the remaining gap consider the private student loan lenders on this list.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

Why trust CNBC Select?

At  CNBC Select , our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every student loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See  our methodology  for more information on how we choose the best graduate school student loans.

Our methodology

To determine the best graduate school student loans, CNBC Select analyzed and compared private student loan funding from national banks, credit unions and online lenders. We narrowed down our ranking by only considering those that offer competitive student loan rates and prequalification tools that don't hurt borrowers' credit.

While the companies we chose in this article consistently rank as having some of the market's lower interest rates, we also compared each company on the following features:

• Broad availability: All of the companies on our list offer undergraduate and graduate private student loans, and they all offer variable and fixed interest rates to choose from
• Flexible loan terms:  Each company provides a variety of financing options that borrowers can customize based on their monthly budget and how long they need to pay back their student loan. Each company also allows borrowers to start repaying their student loans while still in school, ultimately saving them money
• No origination or signup fee: None of the companies on our list charge borrowers an upfront "origination fee" for taking out their loan
• No early payoff penalties:  The companies on our list do not charge borrowers prepayment penalties for paying off loans early
• Streamlined application process:  We made sure companies offered a fast online application process
• Autopay discounts:  All of the companies listed offer an autopay interest rate discount
• Private student loan protections: Each company on our list offers some type of financial hardship protection for borrowers
• Loan sizes:  The above companies offer private student loans in an array of sizes, all the way up to the cost of college attendance. Each company advertises its respective loan sizes, and completing a preapproval process can give borrowers an idea of what their interest rate and monthly payment would be
• Credit requirements/eligibility: We took into consideration the minimum credit scores and income levels required if this information was available
• Customer support:  Every company on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help borrowers educate themselves about student loans in general

After reviewing the above features, we sorted our recommendations by best for instant credit decision, best for multi-year financing, best for applying with a co-signer, best for applying without a co-signer, best for fair credit and best for a grad-level certificate.

Note that the rates and fee structures for private student loans are not guaranteed forever; they are subject to change without notice and they often fluctuate in accordance with the Fed rate. Choosing a fixed-rate APR will guarantee that one's interest rate and monthly payment will remain consistent throughout the entire term of the loan.

A borrower's interest rate depends on their credit score, income, debt-to-income (DTI) ratio, savings, payment history and overall financial health. To take out private student loans, lenders will conduct a hard credit inquiry and request a full application, which could require proof of income, identity verification, proof of address and more.

Catch up on CNBC Select's in-depth coverage of  credit cards ,  banking  and  money , and follow us on  TikTok ,  Facebook ,  Instagram  and  Twitter  to stay up to date.

• 4 best RV loan lenders of 2024 Jasmin Suknanan
• 4 best cyber insurance companies for small businesses Jasmin Suknanan
• Nationwide home insurance: Affordable rates, riders for earthquake and flood damage Liz Knueven

• Best Graduate Student Loans of 2024
• College Ave
• Custom Choice
• Federal Direct
• Why You Should Trust Us

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate student loans to write unbiased product reviews.

Student loans may allow people to bridge the gap between what they can afford for college and the overall cost of an education. If you've already used your "free money" (scholarship, grants, and your savings) to pay for college and still find that you're unable to pay for school, a student loan could be a good option.

When considering your options, federal student loans should always take precedence over private ones. Federal loans have the lowest interest rates and come with a level of protection that private lenders don't offer.

The Best Graduate Student Loans of 2024

Ascent graduate student loans, college ave graduate student loans, earnest graduate student loans, sallie mae graduate student loan, custom choice graduate student loans, compare the top graduate student loans.

Graduate students don't qualify for all types of federal loans, but they are able to take out Direct Unsubsidized loans and Direct PLUS loans.  Here are some of the best options for graduate students looking to take out private loans. 

Ascent has a lower minimum APR on fixed-rate graduate student loans than most other competitors. However, its maximum APRs on both fixed and variable are higher than what you'll find at most comparable companies. 

Ascent also doesn't charge any origination fees. 

What to watch out for: Maximum APRs on both fixed and variable are higher than what you'll find at most comparable companies

Read our Ascent graduate loans review .

College Ave offers many term lengths and doesn't charge any origination or prepayment fees. Five, eight, 10, or 15 year repayment terms are available. A longer repayment term will reduce out your monthly payments, but you'll pay more in overall interest.

What to watch out for: Middle-of-the pack interest rates. College Ave's graduate student loans aren't quite as good of an offering as its undergraduate students loans, as the lender has so-so APRs compared to competitors and comes with no extra perks.

Read our College Ave graduate loans review .

Earnest's loans have a distinguishing feature: the ability to skip one payment every year. You can request your first skip once you've made at least six months of consecutive on-time, full principal and interest payments, as long as your loan is in good standing.

However, interest will accrue during this time, and the lender will extend the final payoff date of your loan by the length of the skipped payment period. 

What to watch out for: May need to add a cosigner. To get the lowest rates, you may need to enlist a cosigner to help. Cosigners can also help you qualify for a loan where you otherwise might not have. 

Read our Earnest graduate loans review .

Sallie Mae loans are available to international students with an eligible cosigner. Not all lenders allow international students to apply, so Sallie Mae may be able to help you if you're coming to the US to study from abroad. 

What to watch out for: Only one repayment term option. Your repayment term will be set for you at 15 years. However, if you want to pay off your loan earlier and avoid forking over more cash in interest, you won't pay any prepayment penalties. 

Read our Sallie Mae graduate loans review .

Custom Choice offers a 2% reduction of your loan's principal after you graduate. This may not seem like much, but will save you some on the overall cost of your loan. 

What to watch out for: Credit check required. While most of the lenders on the list require a credit check, you run the risk of not qualifying if your credit isn't in the best shape. 

Read our Custom Choice graduate loans review .

Federal Direct Unsubsidized Loan

Federal loans have some of the lowest rates around. And you don't need to have a superb credit score to qualify for them like you would with the private lenders on our list.

You'll also qualify for certain protections with federal loans that you otherwise wouldn't with private loans. This includes the ongoing repayment pause on federal loans and the potential for student loan forgiveness — though that is currently being challenged in courts.

What to watch out for:  Interest will begin to accrue shortly after you take out the loan. This means that if you don't pay off your interest while in school, you'll end up with a higher balance than you initially borrowed. 

Federal Direct PLUS Loan

Federal loans offer some of the lowest rates available, and you don't need to have excellent credit to qualify for them like you would with the private lenders on our list.

Additionally, you'll qualify for certain protections with federal loans that you otherwise wouldn't with private loans. This includes the ongoing repayment pause on federal loans and the potential for student loan forgiveness.

What to watch out for: You'll pay an origination fee of 4.228% with Direct PLUS loans, which will be deducted from the loan disbursement. However, there are no prepayment penalties with a Direct PLUS Loan, so you can pay it off early without facing a fee.

Which Graduate Student Loan Lender Is the Most Trustworthy?

We've only selected student loan lenders with no public controversies in the last three years. We've also compared each institution's Better Business Bureau  score.

The BBB, a non-profit organization focused on consumer protection and trust, evaluates companies by judging a business's responses to consumer complaints, honesty in advertising, and clarity about business practices. Here is each company's score:

Of our top private lender picks, only Custom Choice is not currently rated an A- or higher by the BBB. The BBB doesn't have a rating for Custom Choice. That said, this doesn't necessarily reflect Custom Choice's trustworthiness, and you should ask others about their experiences with the businesses before deciding against borrowing from the companies. 

Graduate Student Loans FAQs

Federal student loans have a number of protections that private student loans don't. These include  income-based repayment plans , which help to lower payments to a percentage of a person's income. It's always best to use all of your available federal loan options first to take advantage of these protections.

Unfortunately, private student loans are not eligible for any federal forgiveness programs. However, if you have federal student loans, you may be eligible for forgiveness if you are under a certain income threshold or if you work a certain job.   

As you'll likely be repaying your student loans over a longer period, you'll want to know your options for your term length. You may want an extended length to spread your costs out, but be aware that you'll pay more in overall interest this way. Some lenders, like Sallie Mae, set your repayment term for you.

Every lender is different when it comes to your repayment choices while you're in school. Some allow you to pay down your monthly debt in full every month, others offer interest-only or flat payments, and you may be able to defer all costs until after you graduate.

Why You Should Trust Us: How We Chose the Best Graduate Student Loans

Personal Finance Insider's mission is to help smart people make the best decisions possible with their finances. To do that, we looked through many student loan companies, comparing interest rates, terms, and fine print so you don't have to. We looked for several factors in determining the best student loans, including: 

• Interest rates: The lower the interest rate the better, and we prioritized lenders with the lowest interest rates for graduate students.
• Nationwide availability: We searched for student loans available in all or most US states. 
• Flexibility of repayment plans:  There are four main options for repayment offered by most lenders: defer payments until after school; interest-only payments in school; small, fixed payments in school; and full monthly in-school payments. We looked for lenders with the most ways to pay.
• No or few fees: We prioritized lenders that didn't charge fees, like origination fees or prepayment penalties.

See our full ratings methodology for student loans >>

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

• Main content

• Communications
• Computer Science
• Criminal Justice
• Environmental Management
• Forensic Psychology
• Healthcare Admin
• Human Resources
• Project Management
• Social work
• Special Education
• Sports Management
• Supply Chain Management
• Adult Education
• Business Intelligence
• Early Childhood Education
• Educational Technology
• Homeland Security
• Information Systems Security
• Information Technology
• International Business
• Management Information Systems
• Nonprofit Management
• School Counseling
• Academic Publishing Guide
• Building a Graduate School Resume or CV
• Choosing Between a Thesis or Non-thesis Master's Degree
• Expert Guide to Studying Abroad
• FAQ: Online Master's Degrees
• Grad School Guide Book
• Graduate School for Students with Disabilities
• Green Graduate Degrees
• How to Be a Successful Grad Student
• How to Choose the Right Graduate Program
• How to Get a Master's Degree in an Unrelated Field
• How to Transfer College Credits in Grad School
• How to Write a Winning Personal Statement
• Inside Graduate Admissions
• Ivy League Grad Schools
• Master's Degrees for Veterans
• Master's Degree for Women
• Mental Health in Grad School
• Progressive LGBTQ Graduate Degrees
• Should You Apply for a Graduate School Assistantship?
• Surviving Grad School with a Family
• Taking a Gap Year Before Grad School
• Women in STEM Graduate Resources
• Writing a Successful Statement of Purpose
• Alternative Ways to Pay for School
• The Best Part-Time Jobs During Grad School
• Company Funded Graduate School
• FAFSA For Grad Students
• Financial Aid Resources
• Graduate Student Loans
• Paying for Your Master's Degree
• Paying Off Student Loans
• Paying for Your PhD
• Fellowship Opportunities
• LGBTQ Scholarships
• MBA Scholarships
• Scholarship Resources
• Scholarships for Veterans
• Scholarships for Women
• Crushing the GRE Guidebook
• GMAT Guidebook
• Guide to the LSAT
• MCAT Prep for Medical School
• Study Guide: Exam Resources
• TOEFL Prep for Non-Native English Speakers
•       Financial Aid

Graduate School Financial Aid Awards, Loans, Reimbursements and Alternative Methods to Fund an Advanced Degree

Prospective graduate students often feel overwhelmed by the process of applying to graduate school, and finding ways to lessen the financial burden can be stressful, leaving many opting to fund their program with tens of thousands of dollars in student loans . This comprehensive resource center highlights a multitude of financial aid opportunities available to graduate students. Explore multiple guides to learn about various funding opportunities including ideas for crowdfunding and frugal living, expert insight on crafting a strong essay, hundreds of scholarships, and tips for completing a degree on a budget.

• Graduate Financial Aid
• Graduate School Scholarship Database
• Student Loans
• Alternative Ways To Pay
• Get Your Company To Fund Graduate School
• What Does a PhD Cost?
• 10 Advantages To Pursuing An Advanced Degree

WHAT TYPE OF GRADUATE FINANCIAL AID IS BEST FOR YOU?

Today’s students have access to a wide spectrum of funding options, some of which will suit their individual needs better than others. While some degree paths are heavily focused on fellowship and research grant opportunities, others may offer employer assisted tuition programs or military benefits. Similarly, funding options for students at the masters versus doctorate levels may also vary.

Determine what financial aid options may best suit your needs in the guide options below.

Featured Online Schools

Search hundreds of scholarships and funding options offered on the basis of degree area and level, academic merit, career path, background, and special interest.

Find out-of-the-box funding options including crowdfunding, assistantships, military benefits and ways to accelerate your degree program in this guide.

As advanced degrees rise in popularity, many employers now see the benefit of empowering their workforce to undertake further education. Whether offered as tuition assistance programs or salary advancements, this guide provides tips on navigating the conversation.

Discover the differences between federal and private loans, review loan forgiveness programs and various repayment plans.

Doctoral students typically have more specialized funding options available, ranging from research roles to teaching opportunities. Learn about these and more in this guide.

During the most recent academic year, public and private master’s degrees averaged $26,288 and $61,104, respectively. As the rising cost of education outpaces economic growth, many students are realizing their dreams of further education will only be possible if alternate methods of funding can be secured.

GRADUATE SCHOOL SCHOLARSHIP DATABASE

Finding funding, while time consuming, doesn’t have to be an arduous or disheartening process. Though top scholarship and fellowship programs are highly competitive, innumerable options are available for students of all different backgrounds and interests.

For students who are able to blend a mix of personal funds, scholarships and grants to avoid significant amounts of debt, graduate school is a significant step toward growing their careers.

A 2013 study by the National Center for Education Statistics found that individuals with a master’s degree earned 23 percent more than their bachelor’s level peers. Aside from long-term earning potential, a postgraduate degree also opens doors to expanded career options, advanced skill sets, and teaching or research positions.

Aside from general and degree-specific scholarships, countless specialized grants are available to students of varied backgrounds and interests. The following databases have been compiled to help students find a scholarship created with them in mind.

With 2015 estimates of tuition and fees for an MBA topping out at $140,000 – not to mention lost income – scholarships for this degree can make a significant dent in overall debt. Whether offered by a private foundation or for-profit company, MBA students typically have many scholarships available to them, provided they know where to look.

• MBA Graduate Scholarships
• MBA Scholarships for Women
• MBA Graduate Scholarships for Minorities
• MBA Graduate Scholarships for Military/Veterans

Business school graduate students can find a wide variety of scholarships available, many that are offered by foundations, associations, donors and businesses. They can be applied to annual tuition, as well as related fees, including technology and books. Search dozens of scholarships for an MBA degree programs.

Government Finance Officers Association (GFOA) Daniel B. Goldberg Scholarship

Awarded to a full-time graduate student who is pursuing an advanced degree and intends a career in state or local government finance.

Government Finance Officers Association (GFOA) Minorities in Government Finance Scholarship

For full- or part-time upper division or graduate students studying in one of several finance-related areas including business administration, and who belong to one of a number of minority groups.

Women are often the most underrepresented group in business and MBA programs, according to research from the Graduate Management Council. Earning an MBA can lead to significant career advancement in leadership and business endeavors. Find a variety of scholarships and grants specifically tailored for women MBA students.

American Association of University Women (AAUW) Career Development Grants

Grants made to provide assistance to women making a change of career, seeking advancement in a current career or reentering the workforce.

Chicana / Latina Foundation Scholarship Program

Offered to women of Chicana/Latina heritage who are enrolled in a college or university program in one of 13 Northern California counties.

Samuel Schulman Memorial Scholarship

Applicant must be a single mother entering or continuing in school to earn a marketable skill. Must be a resident and attending a college or university in Los Angeles, Ventura, Orange or Riverside counties in California.

For minority groups, such as African Americans, Asian Americans, Hispanics and American Indians/Alaskan Natives/Pacific Islanders, pursuing an MBA can lead to increased diversification in the business world. Learn more about these scholarship opportunities specifically created to help these groups fund and achieve their MBA.

National Black MBA Association Graduate Scholarship

For students pursuing careers in business, academia and related professions. Must be a member of the NBMBAA to be eligible.

The Paul and Daisy Soros Fellowships for New Americans

Merit-based award that supports 30 students annually. Must be child of naturalized citizens or be a permanent resident or naturalized citizen on his or her own.

Kosciuszko Foundation Tuition Scholarships

Candidates must be U.S. citizens or permanent residents of Polish descent and a graduate student at a college or university in the United States. Available to full-time student only.

Active military service members and veterans alike can utilize various MBA funding opportunities, including the Post-9/11 GI Bill® and the Montgomery GI Bill®. Additionally, scholarship and grant options are available to help advance an active duty members transition to a civilian employment path. Find more information about military scholarships in the following MBA scholarships.

* GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill/ .

PNC-SVA “Serving with Integrity” Scholarship

Open to individuals who have been honorably discharged from Active Duty military service or currently serving in Guard or Reserve. Sponsored by the Student Veterans of America and PNC Bank.

SVA-NBC Universal Scholarship

Sponsored by Comcast/NBC Universal and the Student Veterans of America. Open to veterans pursuing a degree at an accredited U.S. college or university. Requires completion of an essay.

Army Women’s Foundation Legacy Scholarship Program

Applicant must be a woman, or child of a woman, who is currently serving or has served honorably in the U.S. Army, U.S. Army Reserve or Army National Guard.

Female students currently account for 53 percent of the national student body, yet they remain underrepresented in numerous key areas. Funders and foundations alike are stepping up to the plate to provide financial incentives to women entering traditionally male-dominated fields. In addition to areas related to science, technology, engineering and math (STEM) topics, women can find scholarships for almost any topic of interest with this resource.

• WOMEN GENERAL
• WOMEN NURSING, PHYSICAL AND LIFE SCIENCES
• WOMEN SOCIAL WORK
• WOMEN EDUCATION

Innumerable opportunities are available to help support women’s career and academic pursuits in graduate school. Many scholarships and grants will help offset school costs, such as tuition, books and fees, as well as provide advancement in various fields. Explore what scholarships are available to women graduates.

American Association of University Women (AAUW) Dissertation Fellowships

Graduate school funding for women preparing to complete dissertations, full-time post-doctorial research, and/or research for a publication project. The dissertation fellowship can cover any or all of the following: education and living expenses, including childcare; research assistants and equipment; travel for field research and conferences.

American Association of University Women (AAUW) Postdoctral Research Leave Fellowship

Postdoctoral funding for women engaged full-time in the completion of a dissertation, and post-doctoral institutional research or research for publication. The postdoctoral fellowship can be used to purchase equipment, hire research assistants, pay for publication costs, and cover living and childcare expenses.

American Association of University Women (AAUW) Summer/Short-Term Research Publication Grants

An 8-week grant for graduate scholars engaged in independent research for publication and preparing research for publication. Grant money can cover living expense, research assistants, clerical and non-technical support, office supplies, and journal fees.

A Masters in Business Administration (MBA) can help many women achieve their goals in the business world, including leadership, entrepreneurship, and executive areas of business. Learn more about the variety of funding options available to women MBA students below.

Ada I. Pressman Memorial Scholarships

Open to women undergraduate and graduate students who are pursuing degrees in all areas of engineering, including construction, chemical, computer, mechanical, and marine/oceanographic engineering. This scholarship is renewable for up to five years.

Sponsoring Organization: Society of Women Engineers (SWE)

AAUW Selected Professional Fellowships, Science and Technology Group

Aimed at supporting women entering graduate work in disciplines in which women have traditionally been underrepresented, including master’s programs in architecture, computer science, engineering, mathematics, and statistics. Covers education and living expenses, including travel to professional meetings and conferences.

Sponsoring Organization: American Association of University Women (AAUW)

Amelia Earhart Fellowships

The 35 Amelia Earhart Fellowships overseen by Zonta International are awarded annually to women pursuing doctoral degrees in aerospace science and aerospace engineering fields. Applicants must be enrolled full-time in a qualifying PhD program, and the fellowships do not cover post-doctoral research.

Sponsoring Organization: Zonta International

Women have often been underrepresented in the science, technology, engineering and mathematics (STEM) industries. However, in recent years, these industries have sought to increase the number of women professionals, and today, many scholarship and grant opportunities are available to help women achieve their STEM graduate school goals.

AAUW Selected Professional Focus Professions Group Fellowships

Fellowship grants that provide education and living expense to minority women pursuing graduate studies, specifically African-Americans, Mexican Americans, Hispanic Americans, Native Americans, and Asian Americans. Targeted at graduate-level study in fields in which these groups have been historically underrepresented, including MBA programs (second year of study only); JD in law (third year of study only); and MD or DO in medicine (third or fourth year of study).

Chicana/Latina Foundation Scholarship Program

The Chicana/Latina Foundation is a regional organization serving Northern California. It awards merit-based scholarships for undergraduate and graduate schooling for students of Chicana/Latina heritage in designated counties of California.

From biology and anatomy to chemistry and nursing, women can increase their expertise by achieving a graduate degree. Find dozens of funding opportunities specifically for women seeking to complete a degree program in nursing and the physical and life sciences.

Nursing and Healthcare AACN Scholarships

AACN scholarships are targeted to further the continuing education and specialization goals of active registered nurses pursuing further graduate studies. They can cover up to $3,000 in tuition costs and other expenses, including up to $750 for travel.

Sponsoring Organization: American Association of Critical-Care Nurses (AACN)

AfterCollege/AACN Scholarships

A joint venture between the AACN and AfterCollege, this scholarship offers awards of $2,500 quarterly to graduate students in nursing programs, particularly those who are on track to become a nurse educator. Applicants must be members of the AACN.

Thompson Scholarship for Women in Safety

Awarded by the ASSE to women pursuing a graduate degree in fields related to occupational safety management and engineering, including occupational health nursing and medicine, fire and environmental safety, and industrial risk management.

Sponsoring Organization: American Society of Safety Engineers (ASSE)

For women interested in advancing their education in counseling, public health, psychology or social work, there are a variety of tailored financial aid opportunities including scholarships and grants. Learn more about the specific options available to prospective women graduates in these degree programs.

Social Work Scholarships American Cancer Society Health Professional Training Grants

The ACS targets one of its grants for Health Professional Training at second-year master’s degree students in clinical oncology social work. The grant covers two years of graduate training.

Sponsoring Organization: American Cancer Society (ACS)

American Society on Aging Graduate Student Research Award

The ASA’s Graduate Student Research Award is given to a student who is nominated by an ASA member for graduate research in the field of aging, including clinical social-work research in this area. Applicants must have a faculty sponsor and a fully formed research project ready to undertake.

Carol A. Sarchet Scholarship

This scholarship is open to students in the CSU Schools of Social Work; Education; Occupational Therapy; Human Development & Family Studies; Food Science & Human Nutrition; Family & Consumer Sciences; or Design & Merchandising. Candidates must be first generation students, and preference is given to those raised in foster or kinship care.

Sponsoring Organization: Colorado State University

The high and increasing demand for educators, from early to special education, has provided a vast array of special funding opportunities for women seeking an education graduate degree. Explore dozens of scholarship opportunities available to women pursuing a graduate degree in education.

Renshaw Fellowship

Doctoral students or applicants to doctoral programs in education who are members of the Intercollegiate Studies Institute can apply for the Renshaw Fellowship, which is targeted at individuals aiming to teach at the college level or to work as a superintendent or administrator/researcher in the field of curriculum development.

Sponsoring Organization: Intercollegiate Studies Institute (ICI)

Barbara Lotze Scholarships for Future Teachers

Future high-school physics teachers can apply for a $2,000 scholarship from the AAPT. These scholarships are available to students pursuing a teaching certificate at the undergraduate and graduate school levels.

Sponsoring Organization: American Association of Physics Teachers (AAPT)

American Chemical Society (ACS)-Hach Second Career Teacher Scholarship

Administered by the American Chemical Society, the ACS-Hach Second Career Teacher Scholarship is aimed at chemistry majors and professionals in the chemistry field who are pursuing a master’s in education with the intention of teaching chemistry. Applicants should have a bachelor’s degree in chemistry and at least one year of experience working in a professional capacity. For those who have not spent at least a year working in a field related to chemistry, there is an ACS-Hach Post-Baccalaureate Teacher Scholarship

Although 62 percent of military veterans are first-generation college students, the number of retired military learners is set to soar. As of 2013, more than one million veterans were taking advantage of GI benefits to pursue their educations, and this number is expected to increase by 20 percent in the coming years. Given that 85 percent of veteran students are considered nontraditional, this resource provides crucial awareness of scholarships that aren’t exclusively focused on high school seniors.

• General Scholarships for Military Veterans
• Disabled War Veterans
• Spouses and Dependents of Military Veterans

There are numerous options for military veterans seeking graduate school financial aid assistance. From government-funded programs to countless scholarship opportunities, veterans can find funding to help offset the cost of graduate school.

Google SVA Scholarship

Candidate must be an Active Duty or veteran student currently enrolled in or accepted to a college degree program in computer science, computer engineering or closely-related subject.

Anne Gannett Award for Veterans

For veterans who are former music students who interrupted their education to serve in the U.S. Armed Forces and wish to resume music study in pursuit of a music career.

Army Nurse Corps Association (ANCA) Scholarship

Offered to those currently serving or honorably discharged veterans of a U.S. Army component (Army, National Guard or Reserve) who is currently enrolled in a nursing or nurse anesthesia undergraduate or graduate program. Must not be currently receiving from a U.S. Army component (GI Bill benefits or ROTC scholarship.)

Multiple scholarships and grants are available to disabled war veterans, such as those who were injured during combat in Operations Iraqi Freedom or Enduring Freedom. Funding opportunities like these, and many more, are available to assist and offset disabled war veterans’ graduate school costs.

American Airlines Veteran’s Initiative Scholarship

Military veterans who are pursuing aviation or aeronautical education or training are eligible. Personal factors considered include achievements, teamwork, leadership skills, motivation, and community service involvement.

Colorado Technical University Wounded Warrior Scholarship

Open to U.S Armed Forces (including National Guard and Reserve) Active Duty members or veterans currently receiving medical treatment for injuries (over 30 percent) suffered in the line of duty.

New York State Military Enhanced Recognition Incentive and Tribute – MERIT Scholarship

Available to members of the U.S. Armed Forces at any time on or after August 2, 1990 and who became severely and permanently disabled as a result of injury or illness suffered or incurred in combat or during training for combat. Must be New York State resident attending a postsecondary institution in New York State. Also open to spouses, children, and other financial dependents.

While families of military veterans may have not served in the military, they often have helped support the military and its members. In respect of the spouses and dependents of military veterans, many scholarship and grant opportunities are available to them for graduate school, such as the AMVETS National Scholarship Program and Leadership Through Action – Tillman Military Scholars program.

Fleet Reserve Association (FRA) Non-Member Scholarships

These scholarships are open to U.S. Navy, Marine and Coast Guard personnel and veterans, as well as their spouses, children, grandchildren and great-grandchildren. Does not require FRA membership.

Fleet Reserve Association (FRA) Member Scholarships

These FRA-sponsored scholarships are open to spouses, children, grandchildren and great-grandchildren of current FRA members in good standing. FRA membership requires an affiliation with the U.S. Navy, Marines or Coast Guard. A number of these awards give preference to post-graduate students.

506th Airborne Infantry Regiment Association Scholarships

Family member applicants must be a child, grandchild, sibling or spouse of a veteran who served with the 506th Airborne. Factors considered include the applicant’s overall academic excellence, financial need and quality of the chosen postsecondary institution.

This growing area of funding is set to expand exponentially as more educational institutions, foundations, companies, and individuals begin earmarking scholarships for this community. Options are expansive, ranging from grants to students pursuing gender topics to students who identify as lesbian, gay, bisexual, transgender, or queer (LGBTQ). Many of these funding options are also available to individuals who are considered allies of the LGBTQ community.

• PHYSICAL AND LIFE SCIENCES
• SOCIAL SCIENCES

Lesbian, gay, bisexual, transgender and questioning (LGBTQ) individuals pursuing graduate degrees in the arts – theater, photography, fine and graphic arts – can find a variety of financial aid options to help them fund their schooling. Learn more about the variety of scholarships available to LGBTQ graduate art students.

Bill Bendiner and Doug Morgenson Scholarship

Sponsored by the Pride Foundation and open to residents of Alaska, Idaho, Montana, Oregon and Washington, but may apply funds for study elsewhere. Open to LGBTQ identifying students pursuing a career in human services, health sciences, or the visual arts.

Bill McKnight Legacy Scholarship

Available to Arts and Humanities students in the queer community. Sponsored by the Pride Foundation and open to residents of Alaska, Idaho, Montana, Oregon and Washington, but may apply funds for study elsewhere. Preference given to residents of Kitsap County/Bainbridge Island, Washington.

Gregori Jakovina Endowment Scholarship

Candidate must be LGBT or child of a LGBT parent, a resident of Oregon or Clark County, Washington, and pursuing a career in the arts.

LGBTQ students seeking a degree in a scientific discipline — such as chemistry, geology, physics, engineering, and biology — can find a wide variety of funding options for graduate school. Explore the many scholarship opportunities available to physical and life science LGBTQ graduate students.

Women in Medicine Leadership Scholarships

Four scholarships awarded to women studying at allopathic or osteopathic medical schools in the U.S. or Canada. Factors considered include academic standing and contributed/demonstrated leadership in the LGBTQ community.

AfterCollege STEM Inclusion Scholarship

Eligibility to students currently working toward a STEM-related degree from a group underrepresented in their field of study, including groups defined by sexual orientation.

National Organization of Gay and Lesbian Scientists and Technical Professionals (NOGLSTP) Out to Innovate Scholarship for LGBTQ+ Students in STEM

Must be declared major in accredited STEM or STEM-related teaching field and an active supporter of and participant in programs or organizations promoting LGBTQ inclusion and visibility.

The social sciences examine various aspects of the human experience, including society, culture and economy. There are various scholarship and grant options for LGBTQ-individuals wishing to pursue a social science graduate degree.

Alexander G. Gray, Jr., Scholarship Fund

Applicant must be enrolled at a law school in the Commonwealth of Massachusetts and a member of the Massachusetts LGBTQ Bar.

Kay Longcope Scholarship Award

Applicants must be an LGBT individual of color planning to pursue a career in journalism and be able to demonstrate their passion and commitment to the profession. Selection based on journalistic and scholastic ability. Applicants also must demonstrate an awareness of the issues facing the LGBT community and the importance of fair and accurate news coverage.

Leroy F. Aarons Scholarship Award

Must be enrolled in a journalism program. Selection based on journalistic and scholastic ability. Applicants also must demonstrate an awareness of the issues facing the LGBT community and the importance of fair and accurate news coverage.

Becoming a leader in the LGBTQ community can be supported with an advanced degree in various community and advocacy-related graduate degree programs. Find a vast array of scholarship and grant opportunities available to LGBTQ-individuals who demonstrate active community roles, or a desire to lead in their communities in the near future.

American Atheists Chinn Scholarships

Must be an atheist and self-identify as gay or lesbian, or have a demonstrated commitment to LGBT rights and equality.

Asian Pacific Islander Queer Women & Transgender Community (APIQWTC) Scholarship

Awarded to Asian/Pacific Islander lesbian, bisexual, or queer women or transgender individuals pursuing technical/professional training or an undergraduate/graduate degree.

FINANCING YOUR FUTURE: STUDENT LOANS

Students typically pursue a blend of funding options, incorporating scholarships and grants alongside any necessary loans. The following section will review loan options and provide helpful tips on how to navigate common steps, including the Free Application for Federal Student Aid (FAFSA ® ).

While private loans are available, the vast majority of student financial aid experts strongly recommend taking full advantage of federal loans before considering those offered by lending agencies and banks. This is due in part to lower and more stable interest rates, but also because private loans generally don’t offer the same flexible repayment plans as federal lenders.

To qualify for federal loans, all students – regardless of their educational level – must fill out the FAFSA ® every year they are enrolled in a degree program. This document, which is based on either the student’s or their parent’s financial information, assesses income levels to predict the amount of funding available via federal grants and loans.

Students who used federal funds during baccalaureate studies will be familiar with the process, although there are a few different options available for advanced degrees. Some of the most common questions associated with completing the FAFSA ® and taking on student loans include:

Funds are awarded on a first-come, first-served basis beginning at the first of the new year. Students should aim to have all documents ready so they can apply as soon as the new calendar year starts.

If a student is applying as a dependent, they’ll need their parent’s financial records. As an independent, they’ll need their own financial documents along with their social security and driver’s license numbers, investment records, bank statements, federal tax records, documentation of untaxed income, and their federal student aid PIN number provided by the U.S. Department of Education.

Each of the main federal student loans have different lending amounts; for instance, the Perkins loan allows graduate students to borrow up to $8,500 per year, while the maximum amount for the Stafford loan is based on the current year of education.

It’s easy to get caught up in the excitement of going back to school and not fully consider the implications of taking on debt. While some loan repayment plans begin while students are still in school, the majority will start once a student has graduated. Students should be considering their next moves – be they further education or entering the workforce – before completing their degree. Students who pay toward their loans faithfully each month can use this time to help build good credit for future significant purchases, but those who fall behind may find themselves penalized when it comes time to purchase their first house or make other big buys.

Students should ensure they understand all of the terms and conditions before signing the dotted line for any loan. While the goal will always be to land a top job immediately after graduation, understanding options for deferment, forbearance, loan forgiveness, and alternate repayment plans can help alleviate a lot of anxiety and avoid negative credit scores if it takes a while to start repaying student debt.

Students who did not take advantage of federal funds during their undergraduate degree will also need to complete an entrance loan counseling session and sign the complete master promissory note before funds are disbursed.

When used knowledgeably, federal student loans can be a helpful addition to a student’s funding bundle. Aside from making the difference in whether or not a student is able to complete graduate school, they also remove many of the pressures of private loans. Our Student Loan and Graduate School guide provides details on these topics and more to consider when plotting out graduate school funds.

ALTERNATIVE WAYS TO PAY FOR GRADUATE SCHOOL

Aside from traditional funding routes such as scholarships or loans, today’s students can utilize numerous innovative methods of paying for their graduate degrees. The Alternate Ways to Pay for Grad School guide highlights inventive ways to lessen the financial burden, including crowdfunding, employer tuition assistance programs, teaching or research assistantships, and general ideas about frugal living while in school.

These thrifty tips give students a weeklong glimpse of some cost cutting ideas.

Gasoline is cheapest on Sunday, so scheduling a fuel up for this day will save a few pennies per gallon. Lots of electronics stores will also have special flash sales on Sunday, so a trip to the local Best Buy may be in order for students in need of a tablet, laptop or other study aid.

Students who enjoy doing a lot of their shopping online can take advantage of the best sales on this day, ranging from clothing and electronics to textbooks and household items. Some websites will also allow users to sign up for notifications when new items go on sale.

Research has shown the best day for booking a flight is Tuesday, while they tend to be marked up on weekends. The day is also perfect for eating out, with the largest number of happy hours and meal deals being offered on the second day of the workweek.

Daily Finance found that hump day is the best for weekly grocery shopping. Not only do more than half of all stores start their sales on this day, they’ll often honor the previous week’s sales as well. As a bonus, if meat counters, bakeries, or prepared food counters have food nearing the end of its shelf life, this is the most common day for scoring a bargain.

Thinking about buying new clothes? Research has shown that a lot of shops and department stores mark down items on Wednesday evenings, making Thursday the perfect day to snag a good deal before items get picked over.

While the majority of yard and garage sales take place on weekends, sometimes sellers will have a preview or early bird sale on Friday. Students with nontraditional schedules that can take advantage of being one of the first on the scene can often find excellent bargains on items that typically get scooped up quickly.

Although many assume that retailers aren’t shy about charging full prices over the weekend, there are still plenty of bargains buys to be found. Clothing stores in particular are known to have some of the best sales on this day of the week.

Lots of resale shops and thrift stores will have sales based on items with same colored tag all being discounted on different days of the week.

These helpful hints are only the tip of the iceberg; further ideas for saving money while not feeling deprived can be found in the Alternate Ways to Pay for Grad School guide.

Train people well enough so they can leave, but treat them well enough so they don’t want to.

GET YOUR COMPANY TO FUND GRADUATE SCHOOL

One guiding principle many business leaders believe is that employers should help fund graduate programs — it can impart a sense of gratitude in employees and provides a more skilled workforce to companies. Numerous national organizations have tuition assistance programs in place already, but it’s always worth asking your current employers if an agreement could be made.

In many cases, companies will supplement educational costs in return for a commitment to stay with the organization for a set number of years after a degree is completed.

These are some of the best companies offering tuition reimbursement programs in the U.S. today:

Bank of America

PROGRAM: Tuition Reimbursement

BOA provides tuition assistance for employees seeking to complete graduate level classes, provided they are in some way related to their area of work.

PROGRAM: Graduate School Assistance Program

Deloitte offers its employees generous benefits, allowing them to attend graduate school and move into Senior Consultant roles upon graduation. After two years of post-college employment, workers receive full tuition reimbursement. They are also given a technology stipend during their education to help purchase necessary computer-related items.

PROGRAM: Educational Assistance Program

Employees completing approved classes and programs relevant to their positions at Raytheon can apply for their educational assistance program, provided they are employed full-time.

PROGRAM: Tuition Reimbursement Program

In addition to other great benefits, Google employees who maintain A’s and B’s through their educations qualify for the company’s tuition reimbursement program.

PROGRAM: Educational Assistance

Employees of BP can take advantage of the company’s generous tuition assistance program, provided they’re enrolled in courses relevant to their area of work and achieve passing grades.

PROGRAM: Tuition Assistance Program (TAP)

Microsoft is known for placing great importance on furthering the knowledge and skill sets of its employees, and the company provides assistance for both tuition and textbook costs.

J.M. Smucker Company

PROGRAM: Financial Well Being Program

Smucker’s takes great pride in providing holistic care for their employees, and this includes a generous reimbursement program providing up to 100 percent of the costs for all approved coursework.

PROGRAM: Career Development and Training

Chevron takes a wide lens view when it comes to employees reaching their potential and continuing their educations. In addition to tuition reimbursement, the company also offers internal training, mentoring programs, and opportunities for professional development.

PROGRAM: College Achievement Plan (CAP)

70 percent of Starbucks employees are students or aspire to attend college, and the organization is focused on making that possible. The company recently partnered with Arizona State University to provide assistance to part and full-time employees undertaking online education.

To learn about additional companies providing tuition benefits, or to find tips on convincing your boss to provide educational assistance, check out the guide, Expert Guidance and Strategies for Company Tuition Reimbursement.

WHAT DOES A PHD COST?

The actual costs associated with obtaining a PhD can vary wildly based on the subject area, type of school, and institutional assistance available. The following section helps interested doctoral candidates learn about all the costs associated with working toward an education at this level.

Students have innumerable reasons for pursuing a doctoral degree, ranging from higher salaries to career requirements. In many academic or STEM-related fields, individuals may not be able to fully participate in their field without obtaining the highest level of degree available. Yet PhD programs can also cost hundreds of thousands of dollars, leaving cash-strapped students wondering if it’s practical to complete another degree.

BREAKING IT DOWN

Before enrolling in a program, students should have a thorough understanding of all the costs associated with committing to a further degree.

The cost of a PhD can vary significantly depending on whether the institution is public or private, and which degree path the student intends on pursuing. For in-state students at state colleges, tuition is typically between $7,000 to $10,000 annually, while students at private universities can expect to pay between $30,000 to $50,000 each year.

The cost of rent represents a wide spectrum across the U.S. Birmingham topped the 2015 list for affordable cities, averaging $949 for a two bedroom. Conversely, a two bedroom in San Francisco, the most costly city for renters, tops out at $3,650 per month.

According to a living wage calculator provided by MIT, single adult students will spend just over $1,000 per month on average for living costs, including food, medical coverage, transportation, and miscellaneous expenses. These numbers are also likely to fluctuate based on their location

Costs for books and additional fees are often wholly based on a student’s degree. While science, technology, engineering and math (STEM) related paths tend to have more intensive fees for laboratory use and materials, humanities courses may require substantially more books. On average, books and fees combined cost between $1,500 and $3,000 per academic year.

Research for doctoral level dissertations or projects is typically extensive, requiring students to spend hundreds of hours poring over materials. Depending on the area of study, this could either mean being able to access materials via a short car ride or spending several months in a foreign country. While these expenditures can quickly add up, scholarships and grants specifically covering research and conference travel costs abound.

Aside from all the costs reviewed above, students should always plan to have funds on hand for unforeseen purchases. Whether it’s an unexpected trip to the mechanic, stocking up on winter clothes, or an emergency trip home, students should plan to spend approximately $3,000 to $5,000 per year on miscellaneous expenses.

After reading through all of the costs associated with undertaking a doctoral degree, interested students may be wondering how on earth they’ll ever be able to justify taking this next step. GoGrad’s Paying for Your PhD guide is here to answer this question and any others arising.

10 ADVANTAGES TO PURSUING AN ADVANCED DEGREE

Obtaining a doctoral degree has innumerable benefits for individuals in many different industries and areas of work.

While some fields – such as psychology or astrophysics – require professionals to hold a PhD to be fully certified, professionals in other areas often undertake this degree to move into specialized research or teaching roles. For mid-career workers who already hold a bachelor’s degree, a master’s degree can help propel them into a senior-level role in their new industry.

Looking for more benefits? Keep reading.

Obtaining a master degree is an investment that pays off throughout your career. As reported by National Center for Education Statistics (NCES), a master’s degree will net individuals a paycheck that’s 23 percent higher than their baccalaureate-holding colleagues, while those with a doctoral degree earned up to 52 percent more.

Whether deciding to pursue a professorship after years of experience in the field or moving directly into teaching, the vast majority of four-year universities require faculty to hold a PhD to teach courses.

While some may think of in-depth research opportunities being relegated to STEM-related industries, the spread of digital technology is continually increasing the importance of both data gathering and data analysis. Individuals able to delve into research projects and glean useful insights are valuable to almost any industry.

Consultants to government agencies, non-profit organizations and corporate businesses display the highest levels of expertise and knowledge, gleaned from both years of experience and an advanced education.

Students who pursue graduate degrees typically all have one thing in common: they love their subject. While undergraduate degrees offer excellent foundational knowledge and skills, advanced degrees allow students to truly immerse themselves and gain a holistic understanding of the discipline.

As of 2014, less than one percent of the American population held a PhD and only eight percent had completed master’s level programs. Advanced degrees and those who complete them are highly respected due to the sheer fact that pursuing academics at this level requires commitment and intelligence.

Advanced degree holders recognized as leaders in their fields often have many opportunities to travel, be it for research collaboration, guest lectures or speaking at/attending conferences held by professional organizations.

Individuals with advanced degrees are typically those who innovate, push the boundaries of what’s possible, and lead groundbreaking research that changes the way people live their lives. Whether working in the arts and sciences, technology, medicine or law, master’s and PhD level professionals are constantly shifting the way the world works.

Although highly competitive, numerous fellowship and grant opportunities not only pay all costs associated with an advance degree, in some cases they also provide a living stipend. Instead of worrying about housing expenses or other general costs of living, recipients of these awards are able to devote their full attention to learning.

While some jobs may be quite rigid in their structure, advanced degree holders often have more autonomy to structure their work days and projects. They may decide to split their time between offices, complete projects while traveling, or outsource basic tasks to focus on more specialized work.

Studentships and doctoral training

Get a studentship to fund your doctorate.

UKRI studentships offer funding for doctoral research. They also offer you access to training, networking and development opportunities to help you build a research and innovation career.

Our expectations for research organisations, supervisors and students are set out in the statement of expectations for doctoral training .

You could get:

• a minimum stipend of £19,237 per year for your living costs, which is paid to you in regular instalments
• support for your tuition fees (minimum £4,786 per year)

The stipend is usually non-taxable and does not need to be paid back. Some research organisations may offer more if you study in London, or they or one of their collaborators might decide to top up the payment. This will be outlined in the studentship advert from the research organisation.

We normally pay the support for tuition fees directly to your research organisation.

The levels given here are for the academic year 2024 to 2025. UKRI’s approach to doctoral stipend and fee levels will be reviewed through the  new deal for postgraduate research .

Additional support for your doctoral studies

As a UKRI-funded doctoral student, you may be able to access additional funding to cover the cost of other related training and development opportunities.

This could include:

• conference attendance
• language training
• overseas research visits
• internships or placements with a non-academic partner

The availability of support will depend on the research organisation and the training grants they have on offer. You should contact the research organisation you are interested in applying to, to find out what you could get.

Extra support if you have a disability

If you have a disability, you may be entitled to a Disabled Students’ Allowance (DSA) on top of your studentship.

You should speak to your research organisation’s disability advisor to assess your needs. They can help put the right support in place, including a DSA application if necessary. You cannot claim DSA directly from UKRI.

DSA helps to cover the cost of any additional support that a person studying for a doctorate might need as a result of a disability, mental health problem or specific learning difficulty.

The allowance covers:

• non-medical personal assistance
• specialist equipment
• extra travel costs
• general expenses

Find out more about DSA in our framework .

If you are a research organisation you can download claim forms and guidance for DSA .

Who can apply

Any prospective doctoral student wishing to study at a UK research organisation, including prospective international students, can apply for a UKRI studentship.

All UKRI-funded doctoral students will be eligible for the full award, both the stipend to support living costs, and home-level fees at the UK research organisation rate.

How to find opportunities

Many UK research organisations offer some form of studentship funding from UKRI. These opportunities will depend on the subject you want to study and will normally be advertised by the research organisations.

Research organisations may have additional opportunities that do not involve UKRI. UKRI supports around 20% of all UK-based postgraduate researchers. You should speak to the research organisation you are interested in to find out what studentships are available.

You could also consider using a specialist website like   FindaPhD  to look for opportunities.

When to apply

Research organisations set their own deadlines for applications.

Many open for applications early in the academic year and close in January or February. This is not a hard and fast rule. It is important that you check the deadlines for the research organisation where you want to study.

How to apply

You cannot apply to UKRI for a studentship. You must contact the research organisation you are interested in studying with and use their application process.

For doctoral students who are already studying with a studentship, there are opportunities to get additional funding to support placements that are separate from your doctorate.  Find training and development opportunities .

Last updated: 14 February 2024

This is the website for UKRI: our seven research councils, Research England and Innovate UK. Let us know if you have feedback or would like to help improve our online products and services .

• Postgraduate Doctoral Loan
• Academic excellence and merit
• Care experienced students
• Disabled students
• EU and international students
• Funding a year abroad
• Low income households
• Specific subjects
• Widening participation
• What is DSA?
• DSA eligibility FAQs
• How to apply for DSA
• What to expect from a DSA assessment
• Receiving confirmation of your DSA application
• DSA: Acronyms and abbreviations
• Disabled Students’ Allowance: Scotland
• Disabled Students' Allowance: Northern Ireland
• Disabled Students' Allowance: Wales
• Financial support for students not supported by their family (estranged)
• Cyllid i fyfyrwyr
• Student budgeting tips
• An overdraft will be your buffer
• Avoid hefty broadband bills
• Be the boss of your budget
• Check if you're covered by your parents' home insurance
• Credit cards aren't as cool as they might sound
• Don't let mighty mobile bills get you
• Get expensive software for free!
• Keep your wits about you when renting
• Register to vote
• Choosing a bank account
• Use your UCAS status codes to open a student account
• Managing student debt
• UCAS student discounts
• 10 money tips for starting uni
• How much does uni or college cost?
• Eight tips if you're worried about money at university
• How much will I spend during Freshers' week?
• Scholarship guidance for UK students
• What you can do if your student finance isn’t enough
• Balancing work and study
• Refugees, asylum seekers, and those with limited leave to remain
• Student finance in Scotland
• Student finance in Wales
• Undergraduate tuition fees
• Finance for part-time tuition fee only students
• Tuition Fee Loans - Part-time students
• Living costs for part-time students

Postgraduate Master's Loan

• Disabled Students' Allowance
• Parents' Learning Allowances for full-time students
• Childcare Grants for full-time students
• Adult Dependants' Grants for full-time students
• Other funding for full-time students
• Repaying your student loan
• Student finance guidance for parents and partners
• Taking a break or withdrawing from your course

Taking a break or withdrawing from your postgraduate studies

• Finance for independent students
• Student finance for migrant workers
• Student finance for family members of migrant workers
• Advanced Learner Loans
• Going through Clearing?
• Household income details needed!
• Going back to uni or repeating a year
• Student finance in Northern Ireland

What's on this page?

• What's available?

How to apply

Eligibility, what's available.

You could get a Postgraduate Doctoral Loan of up to:

• £29,390 if your course starts on or after 1 August 2024
• £28,673 if you started between 1 August 2023 and 31 July 2024

This is to help with your course and living costs while you’re studying, and has to be repaid .

Your loan payments will be spread out across all the academic years of your course. For example, if you’re studying over five years and apply for the maximum loan amount of £29,390, your payments would be £5,878 in each academic year. The loan is paid in three instalments at the start of each term.

You can apply for a Postgraduate Doctoral Loan amount in any year of your course, but if you apply after the first year, you might not get the maximum amount.

Disabled Students' Allowance

If you have a disability, including a long-term health condition, mental health condition, or specific learning difficulty, such as dyslexia, you might be able to get Disabled Students’ Allowance. This doesn’t have to be paid back. You don’t have to be getting a Postgraduate Doctoral Loan to apply.

Find out more

Applications for 2024 to 2025 Postgraduate Doctoral courses are now open! The quickest and easiest way to apply is online at  www.gov.uk/studentfinance .

When you apply for student finance, you'll need to agree to Student Finance England's terms and conditions .

You can apply for a Postgraduate Doctoral Loan in any year of your course, but you might not get the full amount if you apply after the first year of your course.

To get a Postgraduate Doctoral Loan, you must apply no more than nine months after the first day of the final academic year of your course.

You don't need to apply each year for a Postgraduate Doctoral Loan.

If Student Finance England ask you for any evidence, send this as quickly as possible to avoid delays with your application.

If you don’t have a UK passport, you may have to send Student Finance England evidence, such as a non-UK passport, or a copy of your UK birth or adoption certificate.

You should send this as quickly as possible to avoid any delay in your application being processed. Remember to include your Customer Reference Number with everything you send them.

In some circumstances, you may be asked to send Student Finance England additional information or evidence, for example, evidence of your previous addresses or documents from the Home Office. They can’t process your application until they have everything they need, so you should send them anything they ask for as soon as possible, so your application isn’t delayed.

Changing your details

If any of your details change after you’ve applied for student finance, don’t worry – you can simply update your application. You can use your online account to make changes to your personal details before or after your course has started. To update any other details, such as your university or course, you need to send Student Finance England a completed postgraduate 'Change of circumstances' form. You can download this from www.gov.uk/doctoral-loan . 

What happens next?

Once Student Finance England has assessed your application, they’ll send you a letter confirming how much Postgraduate Doctoral Loan you’re getting. The letter will also show the dates they expect to pay your Postgraduate Doctoral Loan to you. You should keep this letter safe, as your university might ask to see it when you register.

If you’re starting a full-time or part-time postgraduate Doctoral course in the 2023 to 2024 academic year, you could get a Postgraduate Doctoral Loan to help towards your course and living costs.

Nationality and residency

To apply for a Postgraduate Doctoral Loan you must:

• be a UK national or Irish Citizen or have 'settled status' under the EU Settlement Scheme or Indefinite leave to remain, with no restrictions on how long you can stay in the UK
• normally live in England
• have lived in the UK, the Channel Islands or the Isle of Man for three continuous years before the first day of your course, apart from temporary absences such as going on holiday. You can also have been living in the UK, Islands and/or Ireland, or the UK, Islands and/or the specified British Overseas Territories.

If you’re an EU national or a family member of an EU national, you may be eligible if all of the following apply:

• you have pre-settled status under the EU settlement scheme. (Irish citizens do not need EU Settlement Scheme status but need to have been living in the UK by 31 December 2020)
• you’ve normally lived in the UK, Gibraltar, the European Economic Area, Switzerland, or the Overseas territories for the past three years (this is also known as being ‘ordinarily resident’)
• you’ll be studying at a university in England

You may also be eligible if you’re a UK national (or family member of a UK national) or an Irish citizen who either:

• was living in the EU, Switzerland, Norway, Iceland or Liechtenstein on 31 December 2021, or returned to the UK by 31 December 2020 after living in the EU, Switzerland, Norway, Iceland or Liechtenstein
• has been living in the UK, the EU, Gibraltar, Switzerland, Norway, Iceland or Liechtenstein for the past three years

You can apply for funding if:

• you’re a UK national (or the family member of a UK national) and living in the EEA or Switzerland on 31 December 2020 or living in the UK on 31 December 2020 after returning from the EEA or Switzerland on or after 1 January 2018
• you have Gibraltarian status as an EU national or family member
• you are resident in Gibraltar as a UK national or family member

You may also be able to apply for a Postgraduate Doctoral Loan if your residency status is one of the following:

• refugee (including family members)
• humanitarian protection (including family members)
• migrant worker from the EU, Switzerland, Norway, Iceland or Liechtenstein (including family members) with settled or pre-settled status
• a family member of a UK national and living in the UK and Islands for three years
• child of a Swiss national and you and your parent have settled or pre-settled status under the EU Settlement Scheme
• child of a Turkish worker who has permission to stay in the UK – you and your Turkish worker parent must have been living in the UK by 31 December 2020
• a stateless person (including family members)
• an unaccompanied child granted ‘Section 67 leave’ under the Dubs Amendment
• a child who is under the protection of someone granted ‘Section 67 leave’, who is also allowed to stay in the UK for the same period of time as the person responsible for them (known as ‘leave in line’)
• granted ‘Calais leave’ to remain
• a child of someone granted ‘Calais leave’ to remain, who is also allowed to stay in the UK for the same period of time as their parent (known as ‘leave in line’)
• you, your parent or step-parent have been given settled status (‘indefinite leave to enter or remain’) because you have been a victim of domestic violence
• you, your parent or step-parent have been granted indefinite leave to remain as a bereaved partner
• family member of a person with Settled Status in the UK
• you or your family member have been granted leave under the Afghan Relocations and Assistance Policy (ARAP) or the Afghan Citizens Resettlement Scheme (ACRS)
• you or your family member have been granted leave to enter or remain in the UK under the Ukraine Family Scheme, the Homes for Ukraine Sponsorship Scheme or the Ukraine Extension Scheme
• you’re a person of Chagossian descent and have British citizenship

You could also be eligible if you’re not a UK national and are either:

• under 18 and have lived in the UK for at least seven years
• 18 or over and have lived in the UK for at least 20 years (or at least half of your life)

To be eligible for support under the long residence category, you must have lived in the UK for three years before the first day of your course and have held a form of leave to remain in the UK issued by the Home Office during that time. You must also live in England on the first day of your course.

You must be under 60 years of age on the first day of the first academic year of your course to get a Postgraduate Doctoral Loan.

Previous study

If you have a loan from a previous undergraduate course or postgraduate master’s course, it won’t affect your eligibility for a Postgraduate Doctoral Loan.

You can only get a Postgraduate Doctoral Loan if you don’t already have an equivalent Doctoral qualification, such as a PhD.

Course eligibility

You must be studying at an eligible university in the UK and your course must be a full postgraduate Doctoral course leading to a qualification, such as:

• ​Subject specialist doctorates: a formal programme of study such as a PhD
• Integrated subject specialist doctorates:  a supervised research project carried out alongside a structured taught course, or after you’ve completed a taught course. (You must register for the doctoral degree at the outset to be eligible for Postgraduate Doctoral Loan.)
• Professional and practice-based doctorates: post-experience qualifications aimed at mid-career professionals, for example an Engineering Doctorate (EngD) ​

A Postgraduate Doctoral Loan is not available to ‘top up’ a lower-level qualification to a Doctoral degree. The course must be a full standalone Doctoral course.

You can choose to study your course at a university in person or by distance learning. Your course must last between three and eight years, and can be studied on a full-time or part-time basis.

University eligibility

Other funding.

You'll be due to start making repayments either:

• the April after you finish or leave your course
• the April four years after the start of your course, if you’re on a course longer than four years 

but only if you're earning over a certain amount of money, which is currently £21,000 a year, £1,750 a month, or £404 a week. You'll be due to start repaying the April after you finish or leave your course, but only if you're earning over a certain amount of money, which is currently £21,000 a year, £1,750 a month, or £404 a week.

Any loan remaining 30 years after you’re due to start making repayments will be cancelled.

You’ll repay 6% of what you earn over the threshold. So if you’re paid monthly and earn £2,500 per month before tax, you’ll repay 6% of the difference between what you earn and the threshold.

For example:

£2,500 - £1,750 = £750

6% of £750 = £45

The table below shows how much you’ll repay towards your loan.

A student loan repayment will be taken even if you don’t earn £21,000 in a year, but earn over the weekly or monthly threshold at any time, for example, if you work overtime or get a bonus.

Previous loans

If you’ve had a previous loan from Student Finance England, you’ll continue to repay this loan at the same time. How much you’ll repay depends on when you started your undergraduate course.

Courses that started after 1 September 2012

If you borrowed a loan for your undergraduate course that started after 1 September 2012, you’ll repay 9% of your income above ££27,295 towards that loan, and 6% of your income above £21,000 towards your Postgraduate Doctoral Loan.

If you borrowed a Postgraduate Loan for a master’s course as well as a Doctoral course, the repayment amount due will remain at 6%. This will go towards any loans borrowed for both master’s and Doctoral courses.

The table below shows how much you’ll repay towards your loans.

Courses that started before September 2012

If you borrowed a loan for your undergraduate course that started before 1 September 2012, you’ll repay 9% of your income above £19,390 towards that loan, and 6% of your income above £21,000 towards your Postgraduate Doctoral Loan.

You can find out more about repaying your loans at www.gov.uk/repaying-your-student-loan .

You might also like to read

Sponsored articles ucas media service, five reasons to sign up to the ucas newsletter, student finance for postgraduate loans, how to find a job.

• PhD Loans – 2023 Guide for Doctoral Students
• Funding a PhD
• A PhD Loan can fund a PhD in any field lasting between three to eight years .
• You can borrow up to £28,673 for courses that started on or after 1st August 2023.
• There are several eligibility restrictions, including that you must be a UK national resident and not receiving other funding (e.g. from Research Council or NHS).
• The repayments will be 6% of your annual income above  £21,000 .

What Is a PhD Loan?

A PhD loan is a form of UK Government loan made available to doctoral students residing in England or Wales. It is designed to help students fund their doctoral programme or equivalent degree, covering basic costs such as the tuition course fees and living costs.

The most common degrees they cover are:

• PhD – Doctor of Philosophy
• EngD – Doctor of Engineering
• EdD – Doctor of Education

Note: PhD Loans are formally known as Postgraduate Doctoral Loans, however, many postgraduate students commonly refer to Doctoral Loans as PhD Loans due to their primary use to fund PhDs.

Am I Eligible for a PhD Loan?

There are several requirements you must meet to be an eligible student for a PhD loan, such as your residency status. The eligibility criteria are summarised below into two categories – those that make you eligible and those that make you ineligible for a PhD loan.

Requirements That Make You Eligible:

• Be a UK or Irish citizen or have settled or pre-settled status under the EU Settlement Scheme , and ordinarily a resident of England or Wales.
• Be under the age of 60.
• Undertake a PhD (or another doctoral degree) that is three to eight years long and provided by a university in the UK.

Note: A common misunderstanding amongst university students is that a Doctoral Loan can fund an MPhil degree. As an MPhil is a Master’s degree, it does not meet the ‘Doctoral or equivalent’ requirement for being eligible for a Doctoral Loan. Therefore, if you are considering undertaking an MPhil, you should instead be applying for a Postgraduate Master’s Loan. If more appropriate for your situation, you can find out more information about Postgraduate Loans here .

Requirements That Make You Ineligible:

You must not:

• Already hold a PhD or equivalent doctoral degree.
• Already be receiving funding. This includes grants from the Research Council (studentships, stipends & scholarships etc.), a social work bursary or NHS bursary (note that being eligible for an NHS Bursary even if you’re not receiving one will make you ineligible for a PhD loan).
• Already have had a Doctoral Loan before, unless you left your course due to illness, bereavement or another serious personal reason. You are still eligible if you have received an undergraduate loan in previous study.
• Obtain your PhD through publication (as this won’t have a period of study associated with it)

Aspects That Don’t Affect Your Eligibility:

There are several aspects of your PhD course that do not affect your eligibility to receiving Doctoral Loans. These are:

• Your doctoral course – your PhD can be in any subject or field. The underlying requirement is that it is provided by a university in the UK; i.e. a university in either England, Wales, Scotland or Northern Ireland.
• Full-time or part-time course – you need not pursue your PhD full-time to be eligible. The underlying requirement is that your PhD can be completed within eight years regardless of how you allocate your time.
• Taught, research-based or a combination of both – as long as your PhD has an aspect of studying associated with it, the method of obtainment of your PhD will not affect your eligibility.

How Much Funding Can I Get?

The amount of funding you can obtain isn’t means-tested. This means that it isn’t related to your financial background or household income and therefore you can qualify for the full amount regardless of your situation.

The maximum loan amount you can borrow falls into one of three categories:

• Up to £28,673 if your course starts on or after 1st August 2023 ,
• Up to £27,892 if your course started between 1st August 2022 and 31st July 2023 ,
• Up to £27,265 if your course started between 1st August 2021 and 31 July 2022 .

You may apply for a Postgraduate Doctoral Loan in any year of study, however you may not receive the maximum amount if you apply after the first year of your PhD. For annual costs, you may receive:

• Up to £12,167 per year  if your course starts on or after 1st August 2023 ,
• Up to £11,836 per year  if your course started between 1st August 2022 and 31st July 2023 ,
• Up to £11,570 per year  if your course started between 1st August 2021 and 31 July 2022 .

When Will I Get Paid?

Your loan payments will be spread out across all academic years of your course.

Example: If you undertake a full-time PhD over 5 years and apply for a loan amount of £25,000, you will receive £5,000 in each academic year.

Further to this, the allocation for each academic year will be paid in three even instalments, with each instalment paid at the start of a new term.

Example: Continuing with the above example, the £5,000 per each academic year would be paid in three instalments of £1,667.

Your first instalment will typically be paid immediately after your course start date. This is because your university will first need to confirm to Student Finance England (SFE) or Student Finance Wales that you’ve officially enrolled with them before the student loan can be released to you.

How and When Do I Repay?

Repayment terms – You will need to start repaying your loan once you have completed your PhD and started earning an annual income over £21,000 .

Once both these conditions are met, you will start making your repayments at 6% of your income above £21,000 . This means that for the first £21,000 you earn, you won’t need to make any contributions towards your loan repayment, however, anything above £21,000 will be subject to a 6% deduction for repayment towards your student loan.

It’s worth noting that if you work for an employer after your PhD, your repayments will be automatically deducted from your salary and there isn’t anything you will directly need to do. However, if you decide to work for yourself as opposed for an employer, you will need to make the repayments yourself.

Like undergraduate loans taken for undergraduate degrees, a postgraduate Doctoral Loan is subject to interest, which will need to be paid on top of your original student loan value. The interest rate is the retail price index (RPI) plus 3%.

Example: The average UK RPI for 2019 was approximately 2.4%. This means that besides the mandatory 3% that is owed, the average interest rate on a Doctoral Loan in 2019 would have been 5.4%.

It’s worth noting that if you aren’t able to completely repay your postgraduate loan within 30 years from the date of your first payment, the remaining loan debt will be voided.

How Do I Apply?

You can apply in one of two ways – either online , by setting up an account on Student Finance England’s website, or by post , by filling in a printable form on GOV.UK ‘s website. Click the respective below to be taken directly to their websites where you can find out more. Note that you will only have to apply once for Postgraduate Doctoral Loans; Student Finance England will contact you every year to confirm the amount you will receive.

Online Application – Student Finance England

Postal Application – GOV.UK

Note: While English residents and EU students who will study in England need to apply to Student Finance England, Welsh residents and EU students who will study in Wales will need to apply to Student Finance Wales .

The application deadline is based on when your doctoral programme is due to start; you should apply within 9 months of this start date.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

Other PhD Funding Options

A PhD Loan is only one of several sources of funding to support your PhD studies and living expenses. The other postgraduate funding options available to you are:

• Research Council funding and studentships
• Scholarships and bursaries
• Employer sponsorship
• Charities and Trusts

Browse PhDs Now

Join thousands of students.

Join thousands of other students and stay up to date with the latest PhD programmes, funding opportunities and advice.

Financial Support for PhD Students

• Dissertation
• Fellowships
• Maximizing Your Degree
• Before You Arrive
• First Weeks at Harvard
• Harvard Speak
• Pre-Arrival Resources for New International Students
• Alumni Council
• Student Engagement
• Applying to Degree Programs
• Applying to the Visiting Students Program
• Admissions Policies
• Cost of Attendance
• Express Interest
• Campus Safety
• Commencement
• Diversity & Inclusion Fellows
• Student Affinity Groups
• Recruitment and Outreach
• Budget Calculator
• Find Your Financial Aid Officer
• Tuition and Health Fee Grants
• External Awards
• FAS Humanities and Social Sciences Support
• Parental Accommodation and Financial Support (PAFS)
• Professional Development Fund
• Master's Degree Funding
• Federal Student Aid
• Other Sources of Support
• Hardship Funding
• Regulations Regarding Employment
• Financial Wellness
• Consumer Information
• Life Sciences
• Policies (Student Handbook)
• Student Center
• Title IX and Gender Equity

On this page:

PhD Students in the Natural Sciences, Engineering and Applied Sciences, and Medical Sciences

Phd students in the humanities and social sciences programs of the faculty of arts and sciences, phd students in humanities and social sciences programs offered in partnership with other harvard schools, acceptance of financial support.

The Harvard Kenneth C. Griffin Graduate School of Arts and Sciences (Harvard Griffin GSAS) offers incoming PhD students full financial support—including tuition, health insurance fees, and basic living expenses—for a minimum of five years (typically the first four years of study and the completion year). This funding package includes a combination of tuition grants, stipends, traineeships, teaching fellowships, research assistantships, and other academic appointments.

Each student is provided a Notice of Financial Support at the time of admission and is assigned a financial aid officer who administers this funding and is available to assist with financial concerns. Each spring, continuing students supported by Harvard Griffin GSAS-administered funding sources are required to activate their funding for the upcoming academic year using the Student Aid Portal, an online financial aid management system.

A typical funding package* includes:

• grants toward tuition and the Harvard University Student Health Program  paid in full for years G1 through G4 and the dissertation completion year
• a combination of stipend, teaching fellowships, and/or research assistantships during years G1 through G4
• summer research support from Harvard Griffin GSAS or faculty grants following the first four academic years.
• subsidy payments to defray dental insurance and transportation costs.

*In some programs, the timing and structure of living expense support may vary from this pattern.

The initial Notice of Financial Support assumes continuous enrollment as a full-time resident student; students not enrolled are not eligible for Harvard Griffin GSAS financial aid programs. Students may find that their actual enrollment patterns necessitate adjustments to the timing of their funding. Students wishing to defer Harvard Griffin GSAS-administered funding indicate this in the Student Aid Portal during the annual financial aid acceptance process. The options for deferring financial support vary by type of aid; please refer to the applicable sections of the financial aid policy web pages for details. Students who are considering deferring financial support are strongly encouraged to contact their financial aid officer to review how such actions may impact their funding in future years.

While funding packages vary by program, PhD students in the sciences typically receive full funding until they complete their programs of study. Contact your department administrator or financial aid officer for details.

See more detailed information about funding for students in humanities and social sciences programs of the Faculty of Arts and Sciences.

Humanities and Social Sciences Programs in the Faculty of Arts and Sciences

• Celtic Literatures and Languages
• Comparative Literature
• East Asian Languages and Civilizations
• Film and Visual Studies
• Germanic Languages and Literatures
• History of Art and Architecture
• Inner Asian and Altaic Studies
• Linguistics
• Near Eastern Languages and Civilizations
• Romance Languages and Literatures
• Slavic Languages and Literatures
• South Asian Studies

Social Sciences

• African and African American Studies
• American Studies
• Anthropology
• History of Science
• Human Evolutionary Biology
• Middle Eastern Studies
• Social Policy

A number of humanities and social sciences PhD programs are offered in partnership with Harvard's professional schools. While funding packages vary by program, PhD students in these interfaculty programs generally receive at least four years of financial support for tuition, health fees, and living expenses; most programs provide dissertation completion fellowships as well. For more information, refer to your Notice of Financial Support or contact your financial aid officer .

Interfaculty Programs in the Humanities and Social Sciences

• Architecture, Landscape Architecture, and Urban Planning
• Business Administration
• Business Economics
• Health Policy
• Organizational Behavior
• Political Economy and Government
• Public Policy

Each student is provided a Notice of Financial Support at the time of admission and is assigned a financial aid officer who administers this funding and is available to assist with financial concerns. Students are required to formally accept their financial aid offers and acknowledge their understanding of financial aid policies. Students should also consult their academic programs to determine whether program-specific conditions apply.

Each spring, continuing students supported by Harvard Griffin GSAS-administered funding sources are required to activate their funding for the upcoming academic year using the Student Aid Portal, an online financial aid management system. Continued eligibility for financial aid is contingent upon an annual report by the faculty that the student is making  satisfactory progress toward the degree.

Financial Aid

Share this page, explore events.

Graduate School

Ph.d. funding.

• Financing & Support

The Graduate School offers incoming doctoral students five years of guaranteed financial support, including a stipend, tuition remission, health-services fee, and health- and dental-insurance subsidies.

This support — which may take the form of a teaching assistantship, research assistantship, fellowship, or proctorship — helps to defray the cost of tuition, and also provides a stipend to assist with living expenses during the student’s program. 

Doctoral students in the Humanities and Social Sciences are guaranteed six years of support. This support can come from a variety of Brown University resources--including Graduate School funds, departmental funds, and faculty research funds--and/or external funds, as applicable.

Stipends, Fellowships & Assistantships

Graduate students at Brown have a plethora of teaching, fellowship, and assistantship opportunities.

Employment Eligibility Verification Form (I-9)

All students entering the Graduate School with any form of financial support are required to complete an Employment Eligibility Verification Form (I-9). Please note: The I-9 cannot be completed without a valid social security number or a receipt proving that a social security number has been applied for.

Learn More About the I-9

Additional Support

In addition to the support available through the University, applicants are urged to compete for national and foundation awards available for graduate study.

Learn about the Incentive Program for Doctoral Students

Funding Guarantee

External funding, internal funding & appointments, doctoral research travel grant, additional resources.

• Insurance Office
• Tax Information for International Students
• Doctoral Funding: Stipend Primer
• Deans’ Faculty Fellows Program
• Initiatives in Doctoral Education and Support at Brown

• PhD Loans for Doctoral Students – A Guide for 2023

PhD Loans for Doctoral Students – A Guide for 2024

Written by Mark Bennett

A UK PhD loan is worth up to £29,390 from Student Finance England or £28,655 from Student Finance Wales. The money only needs to be paid back when you earn over £21,000 a year.

You can borrow a PhD loan of up to £29,390 from Student Finance England for 2024-25 study or £28,655 from Student Finance Wales. All of the money is paid directly to your bank account . You can use it for PhD fees, research expenses, maintenance or other costs.

Doctoral loans aren't based on household income or means tested, so the amount you can borrow isn't affected by your income or savings.

It's up to you to decide how much you want to borrow (up to the maximum, of course). This amount will then be spread evenly across your PhD, in three instalments per academic year .

Frequently asked questions

Below we've answered a selection of commonly asked questions about PhD loan amounts.

Is the value of the doctoral loan linked to my fees?

No. You can borrow the same amount with a doctoral loan regardless of how much your PhD project or programme costs.

Can I change the amount I borrow?

Yes. You can change your PhD loan amount later by submitting a PhD loan request form (PDF). You can't do this online.

Can I borrow more than the cost of my PhD?

Yes. Any extra loan can be used to help with living costs or other expenses.

Do I have to borrow the full amount?

You can borrow anything between £1 and £29,390/£28,655 (for a 2024-25 PhD). Whatever you request will be divided equally across your PhD , but you can't receive more than £12,167 in any one year if your course started between 1 August 2023 and 31 July 2024, and £12,471 if your course starts on or after 1 August 2024.

Are extra loans available for maintenance?

No. You can use some of your doctoral loan for living costs, but there isn't any separate PhD maintenance loan.

Will the loan value increase?

The value of a doctoral loan usually increases slightly with inflation each year. However, this change only applies to new students. The maximum you can borrow with your PhD loan will be capped at the amount available when you began your PhD.

Why can't I borrow more than £12,167/£12,471 per year?

Capping the annual amount for a PhD loan at £12,167/£12,471 is designed to match the Masters student loan system : it means that doctoral students and Masters students can borrow the same amount per year.

The timing of your loan payments will be based on your intended submission date . This means that your loan payments may already have finished if your PhD takes longer than you expect, or you spend extra time 'writing up' your thesis. You should bear this in mind as you plan your project and budget for it.

Student eligibility

You can apply for a PhD student loan if you're a UK national and:

• You've lived in the UK for at least three years (not including time abroad for short-term travel or study)
• You are ordinarily resident in England or Wales (you don't just live there to study)
• You will be aged under 60 (59 or under) on the first day of the first academic year of your PhD (usually 1 September for degrees beginning in the autumn)
• You don't already have a PhD or other doctorate
• You won't be receiving UKRI funding for your PhD (and haven't been funded by a Research Council in the past)
• You won't be receiving other UK public funding for your doctorate, such as a Social Work or Educational Psychology bursary
• Your doctorate isn't eligible for NHS funding (if it is, you should apply for this instead)

PhD loans for Scottish and Northern Irish students

UK doctoral loans are currently only offered by Student Finance England and Student Finance Wales. You won't normally be eligible to apply for their support if you are resident in Scotland or Northern Ireland.

Student Finance Northern Ireland and Student Awards Agency Scotland may offer doctoral loans in the future. We'll let you know as soon as that happens.

PhD loans for EU students

You can apply for a UK doctoral loan as an EU student if:

• You began your PhD in the 2020-21 academic year or earlier
• You applied to the EU Settlement Scheme before 30 June 2021

EU students who are coming to study in the UK from 2021-22 onwards will count as international students (see below).

PhD loans for Irish students

Irish students can still apply for a UK PhD loan to study in either England or Wales. This right is guaranteed by the Common Travel Area and isn't affected by Brexit.

PhD loans for international students

International (non-UK) students aren't normally eligible for UK doctoral loans, but an exception may apply if:

• You have settled status in the UK
• You are an EU national and have applied to the UK's EU Settlement Scheme (see above)
• You are an Irish national (see above)
• You or a family member have been granted refugee status or humanitarian protection in the UK
• You are 18 or over and have lived in the UK for at least 20 years and / or half of your life

If you aren't sure whether you qualify for UK student finance, check advice from the UK Council for International Student Affairs (UKCISA) .

We've answered several questions about student eligibility for doctoral loans, covering residency criteria and more.

Where can I study?

If you are ordinarily resident in England or Wales before your course, you can use your PhD loan to study any UK PhD .

If you are ordinarily resident outside the UK, you can only use your PhD loan to study in England or Wales.

What if I have moved from England or Wales to another part of the UK for previous study?

You will still count as an English- or Welsh-resident student if you have studied your undergraduate degree or Masters in Scotland or Northern Ireland and want to continue straight on to a PhD. This means you will be able to apply for a doctoral loan.

What counts as being ordinarily resident in England or Wales?

To be eligible for a doctoral loan as a UK student you must be ordinarily resident in England or Wales. This means that you normally live in England or Wales and you haven’t moved there just to go to university.

You will normally count as being ordinarily resident in England or Wales if any or all of the following are true:

• You lived in England or Wales before you went to university for your Bachelors degree
• You received an undergraduate student loan from Student Finance England or Student Finance Wales
• You have lived and worked in England or Wales after graduating from university

Can I combine a PhD loan with a Research Council studentship?

No. Unfortunately you can't apply for a PhD loan if you're also receiving any form of Research Council funding from UKRI – including a 'fees-only' award.

Can I get a PhD loan now and apply for Research Council funding later?

Potentially. Some Research Council awards allow students to apply again for the second year of their PhD. Having had a PhD loan may not stop you doing this, provided you cancel it before receiving your Research Council funding.

Note that this still doesn't work the other way around: you can't apply for a PhD loan once you've been awarded Research Council funding.

Can I combine a doctoral loan with other PhD funding?

You can't combine a PhD loan with other funding from the UK Government, including Research Council studentships or Social Work, Educational Psychology or NHS bursaries. However, you can potentially top up your PhD loan with other PhD funding , including:

• A scholarship or bursary from your university
• A grant from a charity or trust
• One of our own FindAPhD scholarships

Are EU students still eligible for doctoral loans?

EU eligibility for UK student finance has changed following Brexit :

• All EU nationals can still apply for a doctoral loan for a PhD that began in the 2020-21 academic year
• EU nationals who applied to the EU Settlement Scheme before 31 December 2020 can also apply for a loan for a PhD that begins in 2021-22 or later
• EU nationals who are arriving in the UK after 1 January 2021 and beginning a PhD in the 2021-22 academic year will not normally be eligible for a doctoral loan

These criteria also apply to students from the EEA (Norway, Iceland and Liechtenstein) and Switzerland.

Are doctoral loans available for international students?

Non-UK students aren’t normally eligible for UK student loans, unless they are Irish nationals or have applied to the EU Settlement Scheme.

Exceptions may apply if you have lived in the UK legally for a very long time, have been granted humanitarian protection or have refugee status.

For more information on UK fees and finance as a postgraduate student we recommend you check the resources produced by the UK Council for International Student Affairs (UKCISA) .

And, if you can't get a loan, you might still be eligible for other international PhD funding in the UK .

Are Irish students eligible for PhD loans?

Yes, Irish students are able to apply for UK doctoral loans as part of the Common Travel Area. You will need to be doing your PhD in either England or Wales.

How will my residency be checked?

You’ll be asked to provide at least three years’ address history during your postgraduate loan application. Student Finance England may query any details that might affect your eligibility.

What if I have stayed in another part of the UK to work after university?

Living and working in a different part of the UK means you aren’t just there to go to university. This can change your residency status.

For example:

• You live in Scotland but go to university in England. After graduating you settle and work in England. If you eventually decide to study a PhD, you will now count as being ordinarily resident in England and can apply for a doctoral loan, even though you were once resident in Scotland.

The same would be true for an English student who had lived and worked elsewhere in the UK after graduating – it's possible that this could mean you are no longer classed as English-resident for student loan purposes.

If you aren’t sure about your residency status, check with Student Finance England .

What if I have moved to England or Wales from another part of the UK for previous study?

Because you only moved to England or Wales to study, your residency status won’t have changed. You will still count as being ordinarily resident elsewhere in the UK and, unfortunately, won't currently be able to apply for the PhD loan.

Are PhD loans means-tested?

No. You can borrow the same amount regardless of your income, savings or credit rating.

The only exceptions concern outstanding arrears to the Student Loans Company (for repayments you were eligible to make, but didn't). However, you may be able to apply for a loan if you clear these.

Can I get a doctoral loan if I’ve lived outside the UK in the last three years?

In order to apply for a student loan as a UK citizen you must have lived in the UK for three years prior to your course. You can travel abroad for holidays or other periods of ‘temporary absence’ during this period, but you shouldn’t have become ordinarily resident in another country.

Will a PhD loan affect my benefits?

Potentially, yes. Because the loan is paid directly to you it may be regarded as a form of income by the Department for Work and Pensions. You should check this if you are concerned about your benefit entitlement with a PhD loan.

Can I also apply for Disabled Students' Allowance?

Yes. You can have a PhD loan and receive Disabled Students' Allowance (DSA) during your PhD.

Can I have a PhD loan as well as a postgraduate Masters loan?

You can apply for a postgraduate doctoral loan if you've previously had a postgraduate Masters loan . However, you can't be receiving them both at the same time (you'll need to finish your Masters before you begin your PhD).

Course eligibility

The PhD loan is available for all types of research doctorate, in any subject . This includes academic doctorates such as a PhD and DPhil, as well as professional doctorates such as a DBA (Doctor of Business Administration) or EdD (Doctor of Education) .

However, you can't get a doctoral loan for a PhD by publication (you must be funding a programme of research and / or study).

UK students can study at any UK university . Eligible students who normally live outside the UK can use the doctoral loan to study at any English or Welsh university.

You can study full time or part time provided your PhD lasts between 3 and 8 years . You will be able to choose from different course lengths when you apply. These will be set by your university based on the intended submission date for your thesis.

Your course must have started on or after August 2018.

Below you can find the answers to a selection of questions about PhD loan course eligibility.

Can I study my PhD part time?

The loans don't actually distinguish between full-time and part-time students. Your PhD can last between 3 and 8 years, however you study.

In practice, most UK universities will regard a 3-4 year PhD as 'full time' and a 6-8 year PhD as 'part time'. You will agree the exact length of your programme with your university.

Can I get a loan for a PhD by publication?

No. You can't apply for a loan if you're submitting a PhD by published work (based on a portfolio of research you've already completed). In this case there would be no new project or programme for the loan to pay for!

Can I get a loan if my doctorate begins as an MPhil?

Yes. You can still apply for a doctoral loan for a programme that initially registers students at MPhil level before upgrading them to PhD candidacy.

However, if you are only enrolling for an MPhil, you should apply for a Masters loan instead.

Can I get a loan for a doctorate by distance learning?

Yes, provided you are living in England or Wales (depending on which loan you are applying for) on the first day of the first academic year of your PhD and living in the UK for the entire course.

You can't get a PhD loan to study by distance learning and live outside the UK.

Can I apply for a loan for a PhD that includes a Masters degree?

Yes. You can still get a loan for a PhD that also awards a Masters degree, including an integrated doctorate or a '1+3' programme. However, you must be registering to graduate with the doctorate, not the Masters.

Can I apply for a loan to 'top up' an existing qualification to PhD level?

No. To be eligible for a loan your project or programme must be a complete doctorate, begun after 1 August 2018. You can't get a loan to extend or 'top up' and existing MPhil or other qualification.

Can I get a loan for a joint doctorate?

Yes, provided the UK university is the lead institution for your PhD and you spend at least 50% of your course in the UK.

Can I study at a private university?

In order to receive a doctoral loan you must be doing your PhD at a university with Research Degree Awarding Powers (RDAPs). Most established UK universities have these powers, but your institution should be able to confirm if you aren't sure.

Can I get a loan if I've previously begun a PhD, but not completed it?

Yes, provided you haven't earned a doctoral qualification and you are starting a completely new doctorate (not continuing or resuming your previous programme or project).

However, you can't normally apply for a second doctoral loan, even if your first loan was for an incomplete qualification. Exceptions may apply if you can demonstrate compelling personal reasons for exiting your first doctorate - Student Finance England will consider your case if so.

Can I get a loan to study a doctorate abroad?

You can't get a PhD loan to study your entire doctorate abroad. However, you can spend part of your degree outside the UK, provided this does not exceed 50% of your programme and your UK university is the lead institution awarding your PhD.

Can I get a PhD loan for a professional doctorate?

Yes. All types of doctorate are eligible for PhD loans, provided the qualification is awarded for a programme of work at a UK university.

Applications

PhD loan applications are now open for doctorates beginning in 2024-25 (or earlier).

Make sure you apply to the correct student finance provider. This will be:

• Student Finance England for English-resident students or Irish students coming to study in England
• Student Finance Wales for Welsh-resident students or Irish students coming to study in Wales

If you have an existing student finance account and Customer Reference Number (CRN) you should use this to apply for your PhD loan. The application system will also ask for details about your PhD (or other doctoral degree), residency status and how much you want to borrow.

The application deadline is fairly relaxed – you have to apply within nine months of the first day of the final academic year of your doctorate. Depending on when you start your PhD during the year, there are four possible ‘first days’, which you can see in the table below.

As an example, if you start a three-year PhD on 22 October 2023, you should apply for a doctoral loan before 31 May 2026.

Remember though, that applying later in your PhD could limit the maximum amount you can borrow (you can't receive more than £12,167 in a single academic year if your course started between 1 August 2023 and 31 July 2024, or £12.471 if your course starts on or after 1 August 2024.).

If you have any further questions about applying for a PhD loan, hopefully the FAQs below will cover them.

When can I apply for a PhD loan?

Applications for 2024-25 PhD loans opened in June 2024. You can apply online or by post (PDF).

Will I receive a loan whilst I'm 'writing up' my PhD?

Only if you are still ahead of your submission date. Your university may allow you extra time to finish writing up your thesis, but you won't receive any extra payments if you've already had your full loan by that point.

When will I receive my first instalment?

You'll receive the first payment for your PhD loan once you start your PhD and your university confirms that you have registered on your project or programme.

When will I stop receiving my loan?

Your payment schedule will be based on the intended submission date for your doctoral thesis, agreed with your university at the start of your degree.

Should I apply at the beginning of my course, or wait?

This is up to you and depends on your funding circumstances.

The PhD loan is meant to be flexible though: you could apply for a loan to help support you throughout your doctorate, or use it to bridge gaps between funding or replace income from a part-time job as you focus on the later stages of your project.

Do I have to reapply in each year of my PhD?

No. You only have to apply for a doctoral loan once.

Can I use an existing student finance account?

Yes. If you have already have an account with Student Finance England you must use it to apply for your doctoral loan.

Do I need to be accepted for a PhD before I apply for a loan?

No. You will need to state which university you intend to research your doctorate at (and how long for) but you don't need to prove you've been accepted before you can apply for a PhD loan. However, you will need to register for your PhD before you receive any actual loan payments (your university should confirm this for you).

Can I apply for a loan for a PhD I've already started?

You can apply after the beginning of a PhD, but it must have started after 1 August 2018.

Doctoral loan repayments are income contingent . You only repay your PhD loan when you are earning over £21,000 a year (£1,750 a month or £404 a week) and you only repay 6% of what you earn over that threshold.

You'll begin repayments in the first April after you leave your course or in the April four years after your PhD starts (whichever is sooner). This means that you can be eligible to start repaying the doctoral loan during your PhD, but only if you're earning enough.

How you repay depends on your employment status:

• If you are employed in the UK HMRC will automatically deduct repayments from your salary on behalf of the Student Loans Company. This will usually happen monthly.
• If you are self-employed you will need to make repayments to HMRC as part of your annual tax return.
• If you are working outside the UK you will need to make repayment arrangements with the Student Loans Company. You should do this before you leave the UK.
• If you are unemployed you won't make repayments. The same applies if you are ever earning less than £21,000 a year.

You may also need to repay other student loans along wth your PhD loan:

• PhD and Masters loan repayments are combined – you will make one repayment of 6% of your income over £21,000 towards a single postgraduate loan debt
• All postgraduate loan repayments are concurrent with those for undergraduate loans – you will repay 6% of your income over £21,000 towards your Masters and / or PhD loan and 9% of your income over £26,575 towards your undergraduate loan

Interest is charged on a PhD loan at the same rate as Masters loans: RPI (the Retail Prices Index) +3%. As of June 2024, the rate is 7.8%, but this changes every year.

Any remaining PhD loan debt (including interest) is cancelled after 30 years from the point at which you begin repayments.

We've answered a few more FAQs about PhD loan repayments below.

When do repayments begin?

You will become eligible to start repaying your doctoral loan on one of the following dates:

• 6 April after your PhD ends
• 6 April four years after you begin your PhD

Note that this is slightly difference to repayments for other student loans, which only ever begin after graduation.

It means you could begin repaying your loan whilst you're still studying for your doctorate (and potentially still receiving loan payments). However, you will only ever make repayments when you're earning over £21,000 a year.

Do repayments still begin after 4 years if I study part time?

Yes, regardless of how you study, you will become eligible to repay a PhD loan (providing you're earning enough) four years after your course begins or in the April after you graduate (whichever is sooner).

Could I have to make PhD loan repayments on my pension?

Potentially, yes. If the money you receive from a pension counts as income you will need to make student loan repayments on it (alongside other potential deductions such as income tax). It's a good idea to check this with your pension plan provider.

Welsh PhD loans

Wales offers its own PhD loan for Welsh-resident UK students. You can borrow up to £28,655 for a degree that begins in 2024-25.

Welsh PhD loans work the same way as English PhD loans. The only difference is that you should apply to Student Finance Wales, not Student Finance England.

Scotland and Northern Ireland don't offer a doctoral loan yet.

Still looking for a PhD?

Head over to our PhD course listings to find the latest opportunities from around the world.

Like hearing about postgraduate funding changes?

So do we it really helps when we're putting together our free weekly newsletter., you may also like....

Our detailed guides and blogs cover everything you need to know about PhD loan eligibility, applications, repayments and much more.

It's time to start applying for postgraduate student finance. Read some tips and advice from the experts at the Student Loans Company.

Have your funding applications been unsuccessful? This blog discusses what it's like to self fund with a UK doctoral loan, and what it might mean for your studies.

PhD loan applications are open! Our handy checklist will help ensure yours is simple and successful.

You can now apply for a PhD loan for 2022! Here are a few things to bear in mind before you start your application.

Don't get lost looking for PhD funding. This simple guide will help you prioritise your search.

FindAPhD. Copyright 2005-2024 All rights reserved.

Unknown    ( change )

Have you got time to answer some quick questions about PhD study?

Select your nearest city

You haven’t completed your profile yet. To get the most out of FindAPhD, finish your profile and receive these benefits:

• Monthly chance to win one of ten £10 Amazon vouchers ; winners will be notified every month.*
• The latest PhD projects delivered straight to your inbox
• Access to our £6,000 scholarship competition
• Weekly newsletter with funding opportunities, research proposal tips and much more
• Early access to our physical and virtual postgraduate study fairs

Or begin browsing FindAPhD.com

or begin browsing FindAPhD.com

*Offer only available for the duration of your active subscription, and subject to change. You MUST claim your prize within 72 hours, if not we will redraw.

Do you want hassle-free information and advice?

Create your FindAPhD account and sign up to our newsletter:

• Find out about funding opportunities and application tips
• Receive weekly advice, student stories and the latest PhD news
• Hear about our upcoming study fairs
• Save your favourite projects, track enquiries and get personalised subject updates

Create your account

Looking to list your PhD opportunities? Log in here .

• Preparing to Apply
• How to Apply
• After Applying
• Why Penn State?
• Military and Veteran Students
• Frequently Asked Questions
• Degree Programs
• Academic Dates and Deadlines
• Policies for Students
• Theses and Dissertations
• Integrated Undergraduate-Graduate Plans
• Commencement
• Planning Your Finances
• External Funding Opportunities
• Information for Graduate Assistants
• Student Recognition Awards

Funding FAQ

• Professional Development
• New Students
• From the Dean
• Advising and Mentoring Tips
• Academic Support
• Student Support FAQs
• Addressing Concerns
• Well-Being Resources
• Office of Graduate Educational Equity Programs (OGEEP)
• Graduate School Open House
• Programs and Initiatives
• McNair Scholars Program
• Summer Research Opportunities Program (SROP)
• Resources and Partners
• Office of the Vice Provost for Graduate Education and Dean
• Vision, Mission, and Strategic Plan
• By the Numbers
• Contact the Graduate School
• Resource Library

This dialog contains the full navigation menu for gradschool.psu.edu.

The Graduate School

• Student Support

Information For

• Alumni and Friends
• Veterans and Military Service Members

Helpful Links

• Graduate Education Policies
• Student Teaching Certificate
• Graduate Exhibition
• Three Minute Thesis
• Accelerate to Industry

For Faculty and Staff

• Graduate Council
• Graduate Education Resource Portal

Social Media

Find answers to the most commonly asked questions related to graduate school funding.

Fellows and Graduate Assistants must be enrolled for at least 9 credits during the fall and spring semesters. Some graduate programs and funding sponsors also require enrollment during summer semesters. Please check with your program for clarification.

Graduate assistants should review the assistantships information page to determine the appropriate number of credits. Please note that you must be registered as a degree-seeking student to receive any financial support.

For more information about fellowships and assistantship requirements, refer to the following two Graduate Education Policies:

• Policy GSAD-901 Graduate Assistants
• Policy GSAD-907 Graduate Fellows and Graduate Trainees

Penn State does not offer tuition waivers. Tuition is fully covered for students appointed to a teaching, research, or administrative graduate assistantship.

Information about student loans, and how to apply for financial aid, is available through the Office of Student Aid.

Graduate assistantships are awarded by academic programs. Contact the program in which you are currently enrolled or are applying for admission to inquire about the availability of assistantships and the application process.

Students on assistantships are eligible for an 80 percent University subsidy of the annual student premium cost for Student Health Insurance Plan (SHIP) at Penn State. Penn State provides a 75 percent annual premium subsidy for spouse and/or eligible dependents of graduate assistants. Contact the Student Health Insurance Office for more information.

For fellows appointed through Penn State, the University provides an insurance subsidy as outlined above for graduate assistants. Some external sponsors/agencies pay 100 percent of the premium based on their funding guidelines.

Penn State does not withhold taxes from fellowship stipends. Please contact the Payroll office with any questions regarding withholding from student stipends. Although taxes are not withheld, these monies may be taxable according to federal guidelines. Please see IRS publications #970 and #505 or contact a tax accountant for additional information. Another resource available to students is Penn State VITA . The Volunteer Income Tax Assistance Program (VITA) is a nationwide, Internal Revenue Service (IRS) sponsored volunteer program that provides free tax preparation services.

If a student is a non-U.S. Resident (for tax purposes), Penn State is required by law to withhold 14 percent federal income tax from the fellowship payment. However, federal income tax withholding can be waived if your country of permanent residence has a tax treaty with the United States. Countries with eligible tax treaties are listed on the Bursar’s website . Please contact Penn State’s Payroll Office if you have any questions or need additional information.

Emergency loans are available through the Office of Student Aid . There are established eligibility criteria for these loans.

No, only degree-seeking graduate students are eligible for graduate student funding.

Legal Statements

• Non-Discrimination
• Equal Opportunity
• Accessibility
• The Pennsylvania State University © 2024

Doctoral loans for 2024-entry

• Eligibility

How to apply

The English and Welsh governments introduced a loan scheme for doctoral courses from 2018/19 entry. If you are a new entrant for 2024/25, find out if you are eligible and how you can take out a loan through the information on this page.

Please note that details for students starting in 2024 have not yet been released in full by the UK government. All figures and eligibility criteria on these pages refer to those who started in 2023, unless stated otherwise, and will be updated when further information is available.

How much is the loan?

You can apply for a loan of up to £29,390 (or £28,655 for students from Wales) towards your course and living costs. These figures have been confirmed for students starting in 2024/25.

The loan will be divided equally across each year of your course in line with the number of years course fees are payable .

The loan is paid into your bank account in three instalments during the academic year.

More information

You can find full details about eligibility, application and repayment in the sections listed across the top of this page. An overview of doctoral loans and details of how to apply is available from your regional funding agency's website:

• Student Finance England
• Student Finance Wales

For courses starting on or after 1 August 2021, the UK government has confirmed that EU, other EEA, and Swiss Nationals will be eligible for student finance from the UK government if they have UK citizens’ rights (i.e. if they have pre-settled or settled status, or if they are an Irish citizen covered by the Common Travel Area arrangement). The support you can access from the government will depend on your residency status. Further details on eligibility can be found on the UK government website .

Who can take out the loan?

The information in this section is presented as a guide only. You should refer to the UK government website for further details.

To take out the doctoral loan, you must be:

• Aged under 60 on the first day of the first academic year of your course (on 1 September 2024 for courses starting in October 2024).
• Starting an eligible doctoral course in the 2018/19 academic year or later (on or after 1 August 2018).
• A UK or Irish national, or have settled or pre-settled status under the EU Settlement Scheme or indefinite leave to remain so there are no restrictions on how long you can stay.
• Normally live in England or Wales.
• Have been ordinarily resident in the UK, Channel Islands, Isle of Man or Ireland for three continuous years before the first day of your course.

You will not be eligible for the doctoral loan if:

• You already have a doctorate or higher level qualification.
• You have received or will receive Research Council funding.
• You are eligible to apply for the NHS bursary.
• You are already receiving funding from Student Finance for the same academic year.
• You have outstanding student loan arrears or have previously been found to be ‘unfit’ for student support (e.g. because of attempted fraud).
• You have received a Postgraduate Doctoral Loan before - unless you left your course due to illness, bereavement or another serious personal reason.
• You have transferred from a Masters to a Doctoral course.

Which courses are covered?

Taught and research standalone doctoral courses in any subject are covered by the loan. Courses must start on or after 1 August 2018, and be 3 to 8 years in duration. Courses can be studied on a full-time or part-time basis.

Doctoral courses that include an integrated master’s degree are eligible for the Postgraduate Doctoral Loan, but you must be admitted to and enrol on the doctoral course. You would not be able to make a separate application for Postgraduate Master’s Finance.

If your DPhil course commences in Hilary or Trinity Term please contact the Student Fees and Funding team and we can arrange for a Hilary or Trinity Term start version of your course to be set up within the Student Finance application portal if it has not been added previously.

Applications for students starting in 2024/25 are expected to open in May 2024. You are encouraged to apply as early as possible via your regional funding agency's website to ensure that funding is in place for the start of your course.

The information below is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.

Will I be charged interest on my loan?

Interest is charged at the Retail Price Index (RPI) plus 3% from the day your first payment is made until your loan is repaid in full.

How do I repay my loan?

You have to repay any loan you borrow, but not until your income is over £21,000 a year. Repayments will be based on your income, not what you borrow.

You will start making repayments the April after you finish or leave your course, or the April four years after the start of your course.

You will only start making repayments once your income is over the current threshold of £403 a week, £1,750 a month or £21,000 a year. You will repay 6% of what you earn over the threshold. So if you are paid monthly and earn £2,500 before tax you’ll repay 6% of the difference between what you earn and the threshold (£1,750):

£2,500 - £1,750 = £750

6% of £750 = £45

So your Postgraduate Loan repayment would be £45 that month.

What if I already have a student loan?

If you already have a Postgraduate Master’s Loan then you’ll make a combined repayment of 6% over the income threshold of £21,000 covering both postgraduate loans.

If you have had any other loan from the Student Loans Company then you will continue to make separate repayments alongside those for your postgraduate loan.

You can find further information on repayments at the  GOV.UK Repayments website .

Can't find what you're looking for?

If you have a query about graduate admissions at Oxford, we're here to help:

Ask a question

Privacy Policy

Postgraduate Applicant Privacy Policy

Ph.D. Student Affiliation and Backstop Funding Policy

To clarify The Graduate School (TGS) expectations regarding the financial obligation for Ph.D. student funding.

Full time Ph.D. students who are in good academic standing and are making adequate progress toward their degree are guaranteed financial support for their first five consecutive academic years beginning at the date of matriculation into the Graduate School. In order to make this guarantee, The Graduate School must have a Management Center backstop for each graduate student in order to protect each student from the potential loss of external funding during his or her projected years of study. Continued support is, as always, contingent on acceptable academic and research performance as determined in an ongoing manner by the student’s advisor, Director of Graduate Studies, and committee, where appropriate. The term “affiliate” is used in this document exclusively to mean the choice of a degree program open to Ph.D. students who have matriculated into an admitting program in which the student can complete the degree in any one of the programs or departments designated as affiliates of the admitting program.

• In the event that a student selects a thesis advisor from a department or program other than the admitting department or program, and therefore opts to affiliate with the advisor’s department or program to complete the Ph.D., the student should be funded in accordance with the compensation model of the department or program with which the student affiliates. Students must be advised by their admitting program Director of Graduate Studies that their stipend level will correspond to that practiced in the department or program of their chosen affiliation. Funding can be provided through any combination of departmental or competitive fellowship, teaching or research assistantship, or external support.  
• In the event that a Ph.D. student’s thesis advisor is the primary source of the student’s support and is unable to meet the five-year funding commitment, the student’s support (tuition remission, fees, and stipend) will be covered by the department or program that receives the indirect cost revenues (ICRs) generated by the thesis advisor’s grants until such a time as suitable rearrangements can be made for renewed support. In most cases, such “backstop” support will come from the department in which the thesis advisor holds his/her primary appointment. Backstop funding agreements are expected to occur for the first five consecutive years of study, which is the standard institutional funding commitment to Ph.D. students. In some schools or graduate programs, this commitment continues until the end of the Ph.D. student’s career.  
• When a graduate student’s thesis advisor has a primary, tenure track appointments in one unit but the ICR revenue from the advisor’s grants flows to another organizational unit within Duke, such as in the University Institutes and Centers (UICs) that are jointly funded by the Provost Area Management Center (PAMC) and the Medical Center Management Center (MCMC), the backstop agreement will be as follows:  
• 50 percent from the UIC budget
• 25 percent from Graduate School reserves, on behalf of the PAMC
• 25 percent from School of Medicine graduate student reserves, on behalf of the MCMC  
• Backstop funding should be provided when there are changes in faculty advisor, whether due to the advisor leaving the institution or other reasons causing interruptions or delays in mentor support. The funding can be provided through any combination of departmental or competitive fellowship, teaching or research assistantship, or external support.
• Faculty advisors will be expected to commit and attest to the financial obligations outlined herein by completing and signing the  Statement of Financial Support form (PDF) .
• The director of graduate studies assistant (DGSA) of the admitting department or program should complete the form, obtaining all required signatures.
• Electronic copies (PDF) of the completed forms should be uploaded into the student’s electronic record in Perceptive Content ( Instructions ).
• For admitting programs in the School of Medicine, an electronic copy should also be available to the Office of Biomedical Graduate Education (OBGE) upon request.

Issued Date

Last revised, last reviewed, related documents.

• form_statement_of_financial_support.pdf

Financial Support

Financial Support Policy

Graduate School

Funding Calendar, University Rates & Costs

Funding calendar.

Graduate student financial support follows the Graduate School academic and enrollment calendar.

Incoming First-year Students:  Princeton fellowships begin in August with the start of the new academic year. Note that pay is provided at the end of each month in which the support is earned per the university payroll cycle . 

Continuing Students: Princeton twelve-month fellowship awards run from August 1 through July 31; ten-month awards run from August 1 through May 31. 

Students with Assistantships in Instruction (AIs):  AI assignments begin at the start of the respective five-month term. Salary is paid beginning August 1 in fall, January 1 in spring.

Students Planning for Degree Completion or Change in Status in a Given Term: When planning for a change in enrollment status or degree completion, please reference this important information regarding student benefits .

University Rates & Costs: 2024-25

Student Health Plan (SHP) Fees are included with a student's monthly tuition or enrollment fee. For degree-seeking students, SHP coverage begins August 1 and extends through the 12-month academic year provided the student remains enrolled. Visit  University Health Services  for more information about SHP coverage.

Cookies on GOV.UK

We use some essential cookies to make this website work.

We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.

We also use cookies set by other sites to help us deliver content from their services.

You have accepted additional cookies. You can change your cookie settings at any time.

You have rejected additional cookies. You can change your cookie settings at any time.

• Education and learning
• Student finance

Doctoral Loan

What you'll get.

You can get up to:

• £29,390 if your course starts on or after 1 August 2024
• £28,673 if your course started between 1 August 2023 and 31 July 2024
• £27,892 if your course started between 1 August 2022 and 31 July 2023

The amount you’ll get is not based on you or your family’s income.

The Department for Work and Pensions (DWP) may take account of the loan when working out any benefits you receive.

The loan is paid directly to you. You can use it for your course fees and living costs.

The loan will be divided equally across each year of your course.

If you apply after your first year

You can apply for a Postgraduate Doctoral Loan in any year of your course. But if you apply after your first year, you might not get the maximum amount.

• £12,471 if your course starts on or after 1 August 2024
• £12,167 if your course started between 1 August 2023 and 31 July 2024
• £11,836 if your course started between 1 August 2022 and 31 July 2023

When you’re paid

You get the first payment after your course start date, once your university or college confirms that you’ve registered.

The loan will be paid in 3 instalments of 33%, 33% and 34% each year. After your application has been approved you’ll be sent a letter with your payment dates or you can check them in your online account.

Related content

Is this page useful.

• Yes this page is useful
• No this page is not useful

Help us improve GOV.UK

Don’t include personal or financial information like your National Insurance number or credit card details.

To help us improve GOV.UK, we’d like to know more about your visit today. Please fill in this survey (opens in a new tab) .

• In the News
• Administration

About DeVry

• Academic Publications
• AI Resource Center
• Workforce Solutions
• Center For Cybersecurity
• Transfer Students
• Student Portal Login

Affordability, Access & Persistence: How DeVry University is Committed to Student Success

LISLE, Ill. – July 1, 2024  – As we look forward to the 2024-2025 academic year, DeVry University is at the forefront of its commitment to providing students with an accessible, high-quality education centered on their personal growth, academic pursuit and persistence.

With the rising cost of living and inflation, college affordability has become more important than ever. Students and families are feeling the squeeze of economic uncertainty, making cost a key factor in deciding where to pursue higher education. The cost of tuition and fees at institutions have been on a mostly upward trend  over the past 20 years .

However, DeVry is committed to help making higher education more affordable, which is why we have frozen tuition rates for Undergraduate and Graduate programs through the 2024-2025 academic year. Earlier this year, the university also expanded on its scholarships offered with an additional four new programs for eligible students and alumni to help them pursue or advance their education. Furthermore, the university will award more than $79 million in student financial assistance in fiscal year 2024.

"We recognize the significant impact financial assistance has on all aspects of the student experience," said  Agnam Memeti,  DeVry University's chief enrollment and student support officer. "Our unwavering commitment to affordability has led us to build scholarships and grants that help make it more affordable for our students as they pursue the necessary skills to excel in their careers," he recalled.

DeVry also understands the importance of closing the opportunity gap by serving a multitude of learners and helping them persist to graduation. For instance, the future of education is digital-first. This is especially true for non-traditional learners such as working adults, parents and underrepresented communities.  

"Our flexible schedule and career-oriented programs cater to a diverse student population, many of whom balance their studies with professional and personal obligations," added Memeti. "These learners have long been left behind by most of the higher education community, but this untapped pool of talent is only growing," he explained.

DeVry has seen increasing enrollment from these demographics seeking technology degrees. According to DeVry's latest Impact Report,  From Aspiration to Action: Closing the Opportunity Gap , 66% of DeVry students are female, 82% are at least 26 years old, and 60% are parents support children and other dependents.

The university views their success through graduation as critical. "Student retention and graduation rates are key indicators of an institution’s overall effectiveness and viability," explained Memeti.  

DeVry's persistence rates reflect this commitment. The university's total session-to-session persistence rate increased from 83.1% in 2019 to 87.6% in 2023. This notable rise can be attributed to strategic initiatives aimed at improving student engagement and providing timely support, all aligned with the  DeVry Care Formula .

"At DeVry, we believe education has the power to open doors and transform lives," added Memeti. "We aim to keep those doors open by remaining sensitive to the financial challenges our students and families face, and we are mindful of the specific resources and support that empower students to persist and succeed on their academic journey."

Hessy Fernandez

Director, Public Relations

Email: [email protected]

Michaela Feldmann

Media Relations Specialist

Alicia McClendon

External Media & Content Specialist

Follow DeVry University

Follow Keller Graduate School of Management

About DeVry University 

DeVry University strives to close society’s opportunity gap and address emerging talent needs by preparing learners to thrive in careers shaped by continuous technological change. Founded in 1931, the university offers undergraduate and graduate  programs  onsite and online in Business, Healthcare and Technology. DeVry University is  accredited  by The Higher Learning Commission (HLC,  www.hlcommission.org/ ). The university’s  Keller Graduate School of Management  is included in this accreditation. To learn more, visit  devry.edu .

Degrees & Programs

Tuition & Financial Aid

• Student Experience

By Degree Level

• Individual College Courses
• Undergraduate Certificates
• Graduate Certificates
• Associate Degrees
• Bachelor's Degrees
• Master's Degrees
• "> View All Undergraduate Degrees >
• "> View All Graduate Degrees >
• "> View All Degree Programs >
• Human Resource
• Sales and Marketing
• Project Management
• Master’s of Project Management (MPM)
• Master's of Business Administration (MBA)
• "> View All Business Programs >
• Health Administration
• Health Information Technology
• Health Information Management
• Medical Billing & Coding
• "> View All Health Programs >
• Artificial Intelligence
• Cyber Security
• Engineering Technology
• Media Arts and Technology
• Software and Information Systems
• Website Design Certificate
• "> View All Tech Certificates >
• "> View All Technology Programs >

Keller Graduate School of Management

• Master's of Business Administration
• Master's of Accounting and Finance
• Master's of Human Reosurces
• Master's of Information Technology
• Master's of Project Management
• "> View All Graduate Programs >

Tuition & Expenses

• Understand Tuition Costs & Fees
• Payment Plans
• Student Loans

Paying for College

• Financial Aid
• Scholarship & Grants
• State-funded Programs
• Employer Tuition Assistance
• Military Benefits
• Alumni & Family Tuition Savings

Admissions & Catalogs

• Admissions Overview
• Undergraduate Admissions
• Graduate Admissions
• Transfer Applicants
• Working Adult Applicants
• Academic Catalogs

Experience & Information

• Academic Calendar
• Transcript Requests
• Accountability Principles
• Title IX Information
• COVID-19 Updates and Online Resources
• About DeVry University
• Campus Locations
• Accreditation + State Authorization
• Student Testimonials
• Center for Cybersecurity
• " tabindex="0"> View All Undergraduate Degrees >
• " tabindex="0"> View All Graduate Degrees >
• " tabindex="0"> View All Degree Programs >
• " tabindex="0"> View All Business Programs >
• " tabindex="0"> View All Health Programs >
• " tabindex="0"> View All Tech Certificates >
• " tabindex="0"> View All Technology Programs >
• " tabindex="0"> View All Graduate Programs >
• Terms Of Service
• Privacy Policy
• California Employee Privacy Policy
• Careers at DeVry
• Accessibility Statement
• Student Consumer Information
• Student Complaint Procedure
• California State Disclosures
• California School Performance Fact Sheets
• DeVry University California BPPE Annual Report
• California Bureau for Private Postsecondary Education

In New York, DeVry University operates as DeVry College of New York. DeVry University is accredited by The Higher Learning Commission (HLC), www.hlcommission.org . The University’s Keller Graduate School of Management is included in this accreditation. DeVry is certified to operate by the State Council of Higher Education for Virginia. Arlington Campus: 1400 Crystal Dr., Ste. 120, Arlington, VA 22202. DeVry University is authorized for operation as a postsecondary educational institution by the Tennessee Higher Education Commission,  www.tn.gov/thec . Lisle Campus: 4225 Naperville Rd, Suite 400, Lisle, IL 60532. Unresolved complaints may be reported to the Illinois Board of Higher Education through the online complaint system https://complaints.ibhe.org/ . View DeVry University’s complaint process  https://www.devry.edu/compliance/student-complaint-procedure.html Program availability varies by location. In site-based programs, students will be required to take a substantial amount of coursework online to complete their program.

© DeVry Educational Development Corp. All rights reserved.