This report looks at graduate students’ attitudes, aspirations, and actions as they choose to study—and pay—for an advanced degree.
How America Pays for Graduate School
A snapshot of the national study by Sallie Mae® and Ipsos
Career goals are driving students to grad school
9 in 10 believe a degree will mean increased earnings
Two-thirds see a grad degree as a new minimum standard for professional careers
They’re ready to move ahead
63% begin school within 12 months of an undergrad degree
24% already have an advanced degree
42% are male and 58% are female
75% have some experience working in a field related to their graduate program
They’re determined to get their degree
57% are going full-time; 43% are part-time
The average time for a degree, estimated by master’s students
The master’s matters
48% are studying for a Master of Science
22% are studying for an MBA
24% are studying for a Master of Arts
Cost isn’t the deciding factor in choosing a school
choose a school based on
quality or convenience
choose based on cost
How students pay for graduate school
Average amount spent
of costs are paid by students
of costs are covered by student borrowing
of costs are covered by student earnings—income and savings
of costs are covered by grants, scholarships, fellowships, and tuition waivers
of costs are covered by external contributions from family or friends
They’re anticipating loan forgiveness
49% of students with federal loans expect them to be forgiven