Financing Graduate School

ariesathena
Tue, 07 Dec 2004 02:10:15 +0000

Having done the professional school thing, I can answer with that (and some other knowledge). If your son is doing something like a master’s, he might get some funding, especially if it’s for the sciences. For humanities, you’ll more likely have to pay. However, he’ll be able to be a TA and receive a stipend for that.

As for the actual forms - well, each school has a different system. Some require your parent’s info for any aid (even loans); some consider you to be independent; some made adjustments for every year that you haven’t been claimed as a dependent. See UMich law - your parents income is considered for 100% when you are a dependent, 80% when you’ve been independent for a year, 60% for two years, etc.

Generally, yes, parents are often expected to cough up for graduate school. At least, they are by the schools. My dad was quite clear that I would get undergrad paid wherever I wanted to go, but nothing afterwards. I know this is probably the last thing you want to hear - but the best thing to do is let your son know NOW what you’ll pay for. Speaking as someone near his age, I can say that the best thing to do is be able to know what you are in for. I know people who were quite upset to find out that their parents weren’t paying for grad school (or not what they expected), and that revelation usually came after they had acceptances. Lots of bitter feelings.

(also - just my opinion - it’s great to take a year off between undergrad and grad. You don’t realize how stressed you are, and, after earning a real salary, you end up going to grad school because you want to, not because it’s a way of delaying adulthood.)