Finances and education create a bit of a catch 22. It is difficult to find a well-paying job and to gain financial stability and independence without an education. However, it is difficult to gain an education if you don’t have the resources available to get started.

The education system is driven by people who want to earn degrees, not just by those who have the disposable income to pay for it. This is why there are resources available to help anyone who has the desire to achieve a higher level education make their dream a reality.

Here are the three core ways that your graduate education can be funded:

Scholarships: You would be amazed by the amount of scholarships that are available. Nonprofit organizations, government programs, and even universities direct additional funding towards scholarship opportunities as a way to fund programs in need of financial support. Most scholarships require some form of application process, which often includes a minimum performance on standardized testing, an essay, and a review of past grades and personal recommendations. Applying for scholarships is a great way to have your education funded without being responsible for returning any of the funds that were provided to you along the way.

Grants: Grants are similar to scholarships in that they provide an avenue by which you can have your schooling funded without being responsible for returning those funds, but they are provided based on financial need and not scholastic merit. Those who have the greatest financial need are the most likely to receive grants.

Loans: Loans are a valuable resource for paying for graduate school. Loans are available to anyone who is in need, without any regard to merit, scholarly performance, recommendations letters, or essays. Student loans are different than any other type of loan. They are designed specifically to pay for your schooling and the money is transferred directly to the school. Students are typically only responsible for paying back the funds that were borrowed after they finish attending school. Student loans can be funded by government programs or private banks, and the interest rates and payment responsibilities will vary depending on the type of loan that is accepted.

Luckily, the Georgia College online MBA, MMIS, and online Logistics programs are incredibly affordable, especially compared with other programs. Find out more information and make your next move by visiting our homepage here.