Traditionally, pursuing a master’s degree has somehow facilitated a promotion, career development, or mastery in a particular field. But in recent times, the cost of attending higher education institutes has become extremely high, especially in the case of postgraduate programs. In the case of students who prefer online education, studying from their homes comes with some economic implications as well.
Fortunately, scholarships can be quite beneficial to students seeking funding for their online master’s degrees. Such scholarships can be merit based or need based two of which assist students to pursue higher education and are not a big financial burden.
This article describes how students from different parts of the world were able to successfully obtain funds in the form of scholarships to pursue their online master’s degrees. They managed to tell how they searched for, applied and benefitted from these funding opportunities
1. Merit Based Scholarship Awards
One of the common means, if not the only one, by which students seek to fund their online master’s degree programs is through merit based scholarships. These are the funds which are offered to qualified students that have distinguished themselves academically, or have one or more specific areas of expertise that qualify them to win scholarships. Most students who performed well in their undergraduate level have been able to attend graduate school at a fraction of the cost due to the big scholarships many are offered.
Case Study: Sarah’s Experience with Merit-Based Scholarship
Sarah, a marketing specialist with five years experience, sought to opt for a Master’s in Digital Marketing via an online course. Upon doing so, she discovered that numerous universities, such as the University of Southern California, had online programs with merit-based scholarships.
Sahar earned a commendable GPA in her bachelor’s degree in marketing, coupled with her employment history, which made her highly competitive for such scholarships. Sarah had a superb application in which she included letters of recommendation and a detailed statement of purpose and thus managed to secure a scholarship which paid 50 percent of her tuition fees.
When Henry is asked how she managed to pay for her online masters degree program, she cites her academic as well as professional credentials as the answer. She counsels future candidates to stress their academic and professional experience even those that are not directly fo related to their scholarly pursuits because some of these scholarships, are merit-based and combines both aspects.
2. Scholarships and Other Financial Assisted Programs
Need-based scholarships, on the other hand, target students that are economically disadvantaged but show promise. Need-based scholarships address students who have the potential to perform well academically but cannot afford to go to school since they are from low income families. This is important in breaking the cycle of poverty.
Case Study: Michael’s Story of Need-Based Scholarships.
Michael, the first one to graduate in his family from college, was already in a bit of a struggle when he decided to opt for Master in Public Health (MPH) online. Michael’s first degree had been loaned for and with graduate studies he aimed at not getting himself into any more debt. Many of the institutions that he applied to, however, offered need-based scholarships and most of the students’ location’s institutions have financial hardships.
From an assortment of programs, Michael was able to secure a need-based scholarship from a public health program offered at an online university. This scholarship was particularly useful as Michael only had to pay out of pocket for a small percentage of the tuition while concentrating on other aspects of his study rather than worrying where the money will come from. Federal student aid and a couple of rural area scholarship applications were also filled by him for providing supporting funds.
Michael suggests that students fill out financial aid forms and check their documentation concerning their financial state as well as look for scholarships from governments, non-profit organizations, and other professional associations which relate to their career path.
3. Governmental and Overseas Scholarships
Numerous governments, as well as international institutions, offer scholarships to students specifically aiming to complete online master’s degrees. Such scholarships usually form part of a bigger picture aimed at advancing education, training, research as well as development across the world. For instance, some countries sponsor students of idiosyncratic countries with developing economies to take graduate online courses.
Case Study: Anita’s Encounters with an Overseas Scholarship Opportunity
Anita, a student hailing from Indian, is keen on studying for an online Master’s in International Relations but lacks the funds to do so. She came across the Chevening scholarship which offers to finance students fully who wish to pursue studies in the UK and even afford them the option to study for an online master’s. Although it was initially meant for students studying on UK campuses, Chevening has now branched out to include its students studying online.
Fueled by her love for international relations as well as her hope to work in diplomacy, Anita was granted a scholarship which included covering her tuition fees and provision for living expenses. Also, there is some advice that Anita has for students. Firstly, she advocates for the application of government scholarships for international students pursuing education online because there are quite a number of such programs.
4. Employer Sponsorships and Scholarships
For working adults, one of the best sources to fund an online master’s program is through employer sponsorship or Tuition reimbursement programs. There are many employers who understand the nature of advanced education and provide funds to employees who want to pursue higher degrees or advanced online education.
Case study: John’s Experience with an Employer Sponsorship Program
John, an IT specialist working at a medium-sized firm was looking for an online Master degree in Cybersecurity. He found out that his employer offered tuition tuition assistance that funded 75 percent of the graduate course tuition fees. After talking to his manager about his educational objectives, John was permitted to go back to school. His employer even allowed him some leeway with regard to his work so that he could combine work and studies.
The story of John serves to support the idea of studying and taking advantage of the available employer education benefits. He suggests that full-time employed students should be asking about their firms’ tuition reimbursement policies which can cut their personal expenditure on an online master’s program.
