Financial Aid For A Graduate Certificate

Created for professionals who completed a bachelor’s degree, graduate certificates teach new skills over 1-2 semesters. A graduate certificate condenses advanced materials, helping students learn valuable skills that could lead to new career opportunities, and certificates can generate higher income than associate or bachelor degrees

While a graduate certificate does not match the quality of a master’s degree, many learners still benefit from certificates. For example, graduate certificate programs usually cost much less than a master’s programs, and can sometimes lead to similar positions. These programs also take less time than master’s programs.

Despite the affordability, a graduate certificate could end up costing more than a master’s degree. Students pursuing a master’s degree qualify for federal financial aid, while graduate certificate students are not eligible. Before enrolling, prospective students should research ways of paying for a graduate certificate. This resource explores how to obtain financial aid for graduate certificates.

While a graduate certificate shares many commonalities with a master’s degree, there are several exceptions. A graduate certificate does not match the academic quality of a master’s degree, although the certificate covers advanced topics usually found in a master’s program.

Most graduate certificates take 1-2 semesters to complete, although most learners can finish the certificate in just one semester. A graduate certificate often consists of 12-15 credits. A master’s program often requires at least 30 credits, with most requiring more. A master’s degree usually takes 2-3 years to complete, although some accelerated programs take just one year to finish.

The shorter time frame and smaller credit requirements help keep the costs of a graduate certificate low. However, because learners pursuing a graduate certificate do not qualify for federal financial aid, earning a certificate could cost more than a master’s degree. Many graduate certificates cost $5,000-$6,000, though specific costs vary by institution.

Graduate certificates cover multiple topics, including environmental management, advanced practice nursing, global health, entrepreneurship, international business, and law. After earning a graduate certificate, professionals demonstrate proof of new skills required for different positions.

While a graduate certificate does not lead to the same outcomes as a master’s degree, certificate-holders still enjoy new career prospects. Depending on students’ backgrounds and current careers, a graduate certificate could either advance their career or help them enter a new field entirely.

In some instances, a graduate certificate teaches skills required for niche positions. For example, someone interested in becoming a nonprofit manager could earn a graduate certificate in nonprofit management. Because the program teaches skills specific to the position, learners could become better prepared for the position than other candidates. Graduate certificates could also teach new skills not covered in the individual’s undergraduate program, such as new technology or coding skills.

Employers reviewing resumes might prefer candidates with a graduate certificate than those without any post-undergraduate experience. Earning a graduate certificate could also increase potential salaries.

A graduate certificate does not qualify students for federal financial aid. While some students, such as those pursuing a graduate certificate approved by the Department of Education, may become eligible for financial aid, learners should not count on securing federal financial aid.

However, students pursuing a graduate certificate can still secure some forms of financial aid. For example, veterans interested in a graduate certificate could become financial aid eligible. Learners can also win scholarships and grants to help cover their graduate certificate costs. Offered by schools, employers, and private organizations, scholarships and grants do not require repayment. While a graduate certificate may not meet the quality of a master’s degree, a certificate still leads to higher-paying positions not available to those with just a bachelor’s degree.

Aside from financial aid, scholarships, and grants, those earning a graduate certificate can research other payment options. For example, military benefits could cover some or all of the graduate certificate costs.

Working students could get their employer to cover some or all of their educational costs. Businesses want to retain talent, so many companies establish employer assistance plans for students. As employees learn during the graduate certificate program, they apply their new skills to their career. Both the employee and employer benefit from an employer assistance plan. However, employer assistance availability varies by employer.

When no other options become available, learners must cover the remaining costs themselves. However, paying for education could make students eligible for tax credits, potentially increasing the size of their tax returns.

Since furthering their education can make them better employees, prospective students can see if their employer can provide tuition assistance. Up to $5,250 in employer-paid tuition assistance may be excluded from income each year. Most employers require the employee to earn at least a B in the course to receive reimbursement. Some require the employee to continue working for them, typically one year for each year of support. After all, employers would be less likely to pay for their employee’s graduate certificate if the employee was going to use their education to get a job elsewhere.

Prospective students who want to learn more about graduate-level study and financial aid can use the following resources for additional guidance.