If you're considering enrolling in a graduate program, chances are you've already turned over several stones looking for financial assistance. Grad school funding is notoriously harder to find than financial aid for undergraduate programs, but it does exist. One often-overlooked means of financing a graduate education is the Federal Work Study Program (FWS).
What is FWS? And who can participate?
FWS is a financial aid program through which money is allocated to eligible institutions—both on and off campus—for the purpose of employing aid-worthy students. Work study programs, though federally regulated, can vary somewhat from school to school, so it's always best to contact your prospective school's financial aid office to gather complete information.
There are, however, some common requirements that must be met by all students who wish to take part in a FWS. Students must:
- Meet acceptance/enrollment requirements set forth by prospective institution
- Be a U.S. citizen or permanent resident alien
- Demonstrate financial need and federal eligibility by completing the Free Application for Federal Student Aid (FAFSA)
- Maintain good academic standing
- Carry no defaulted student loans
In some instances, a school can ask FWS students for copies of tax returns or proof of enrollment. Verify your school's individual guidelines in the financial aid office.
Limitations on FWS
While Federal Work Study programs are a helpful option for students who are having trouble making ends meet, it is important to remember that they have restrictions. Students are guaranteed by the government to earn at least the federal hourly minimum wage when participating in work study; however, there are limits to how much a student can make in total earnings. And since FWS is awarded as part of a student's total financial aid package, they can affect loan eligibility.
Alternatives to work study
Research Assistant (RA) positions are another inviting option for graduate students. An RA assists faculty with research projects and is paid accordingly through allocated research grants. RA positions are especially attractive to students who want the opportunity to share their acquired expertise and practice research techniques in an academic setting.
Like RA, a Teaching Assistantship (TA) allows students to aid faculty while earning money toward tuition. Teaching Assistants, instead of performing research, are usually involved in grading papers and tests, leading class discussion, and executing administrative tasks in the instructor's stead.
Contact a member of your school's graduate financial aid office to learn more about these and other financial aid options.
