Every graduate journey begins with a vision: A degree that advances your goals, a field you care about deeply, a future you want to help shape.

However, before the first class, research project, or milestone, there is an equally important step: figuring out how to fund that vision. For most students, this process feels like standing at a crossroads with four signposts. One points to FAFSA, another to scholarships, a third to grants, and a fourth to loans and institutional aid. With each route carrying its own requirements and timelines, choosing where to begin can feel daunting.

Fortunately, with adequate research, graduate students can approach this step strategically.

In this guide, we break down the four primary forms of financial aid for graduate school to help you understand how each can help you fund your education.

What Types of Financial Aid Are Available for Graduate Students?

Graduate students can draw from several financial aid and scholarships, each with its own eligibility rules, timelines, and advantages. Knowing what is available early can make the difference between a rushed decision and a well-planned one.

#1 Federal Student Loans (via FAFSA)

Federal student loans remain one of the most widely used funding options for graduate and doctoral students. Completing the Free Application for Federal Student Aid (FAFSA) helps you access these loan programs, which can help cover tuition, fees, and living expenses. FAFSA is important if you are applying for financial aid since it is usually the first form you will complete.

• Graduate students may qualify for Direct Unsubsidized Loans, which allow borrowing up to $20,500 per year with a lifetime aggregate cap of $138,500, including any undergraduate borrowing.^[1] Interest begins to accrue when the loan is disbursed, but repayment can be deferred while you are enrolled at least half-time. For new borrowing through June 30, 2026. Any loans disbursed before that date will follow the current terms, while those after will be subject to the revised structure under Title IV funding changes.
• For students who require additional support, Graduate PLUS Loans can help cover the remaining cost of attendance after other forms of aid have been applied.^[2] These loans require a credit check and, unlike unsubsidized loans, are tied to upcoming federal changes. The program will only remain available for new borrowing through June 30, 2026. Any loans disbursed before that date will follow the current terms, while those after will be subject to the revised structure under Title IV funding changes.

Because these loans offer more flexible repayment plans and borrower protections than private options, acting early can give you greater control.

#2 Scholarships and Fellowships

For many graduate students, scholarships and fellowships are what make advanced education possible. Unlike loans, they do not need to be repaid, making them one of the most impactful ways to ease the financial burden of a degree. So, how do you apply for scholarships, or more specifically, how do you get scholarships for graduate school?

Start Close to Home

At Alliant University, institutional scholarships are available for many graduate and doctoral programs.

• Some honor academic excellence.
• Others reward leadership, service, or professional impact.
• Many are tailored to specific disciplines, such as psychology, education, business, and law, fields where Alliant has deep expertise and a legacy of producing leaders.

Look Beyond Your Campus

University scholarships are only one part of the landscape. Professional associations, nonprofits, and government programs all invest in graduate students who align with their mission. 

A psychology student might find support through the American Psychological Association, while an aspiring educator could apply for funding from the American Educational Research Association or state teaching fellowships.^[3]

Many of these programs are tied to workforce needs, meaning that a well-chosen scholarship can advance your career while supporting your studies.

#3 Grants & Work-Study (Where Available)

Graduate grants and work-study programs often receive less attention than loans or scholarships, but for some students, they fill significant gaps in their financial aid. Consider financial aid alternatives such as departmental research stipends, state-funded grants, or targeted program awards when loans or scholarships do not fully cover costs.

• Students in fields such as public service, education, or health may find state or association grants, as well as departmental research stipends, to help offset costs.
• Work-study, though less common, can provide a steady income and relevant experience through research or campus roles.

Even if the options are more limited at the graduate level, they are worth exploring. These smaller pieces can make a real difference when combined with other funding sources.

#4 Employer Tuition Assistance or Reimbursement

If you already work (or plan to) while earning your graduate degree, your employer might be your strongest ally in funding part of it. Many organizations offer tuition assistance or reimbursement as part of their benefits packages, and it is worth investigating whether yours does.

In fact, nearly 48% of U.S. employers currently offer some form of tuition benefit for undergraduate or graduate education.^[4] Despite this, only a fraction of eligible employees utilize these programs annually.

How It Works

An employer may reimburse you for tuition and sometimes fees after you complete a course (or meet a grade threshold). Others front the costs upfront, effectively paying the institution directly.

The IRS even allows employers to offer up to $5,250 per year in tax-free educational assistance under Section 127, meaning that portion is not treated as taxable income to you.^[5]

If your employer does not yet have a formal policy, it is still worth asking. Companies often view educational benefits as investments in workforce development. Some employers may even negotiate terms, especially if your advanced study aligns with your role or the organization’s mission.

Does FAFSA Cover Graduate School?

Yes, it does. However, the kind of aid you will find as a graduate student looks different from what you may have experienced as an undergraduate.

For many students, the FAFSA is the first step that turns a broad academic goal into a concrete reality. Besides determining whether you are eligible for federal aid, it connects you to institutional and sometimes external funding sources. At the graduate level, however, most of that support comes through loans and school-based financial aid, rather than grants.

What Graduate Students Can Access

Filling out the FAFSA gives you access to federal Graduate PLUS Loans.^[6] You should also note that some federal aid programs do not carry over to graduate study, with the Pell Grant being one such example. Understanding what Pell Grants are and the difference between Pell Grants vs. FAFSA can help clarify what is available at the graduate level.

Graduate students usually rely on a different mix of funding, combining:

• Unsubsidized loans
• Scholarships
• Fellowships
• Assistantships
• Employer tuition support (occasional)

How to Apply for FAFSA as a Graduate Student

Filing the FAFSA may feel like one more item on your graduate school checklist, but it is the step that unlocks nearly every major source of federal and institutional aid.

FAFSA Application Basics

The good news is that the FAFSA for graduate students uses the same form as the undergraduate version. You can apply online at studentaid.gov, select your program, and include the school code for the institutions you are considering.

The FAFSA school code for Alliant University is 011117.

Once submitted, your FAFSA results are sent directly to the schools you have listed. Those results determine your eligibility for federal loans (and, in some cases, institutional aid or scholarships), making it a critical early step in your graduate funding plan.

What You Will Need to Complete FAFSA

Completing the FAFSA is straightforward when you have all your materials ready.^[7] Before beginning, ensure you have:

• Tax returns and income information (yours or your household’s, if applicable)
• FSA ID (a username and password you will use to access and sign your application)
• Program details, including the school code
• Any additional personal financial documentation if your situation has changed since filing taxes.

Having these documents on hand can prevent delays and help you avoid common errors.

Key FAFSA Deadlines You Should Not Miss

While the FAFSA is not a first-come, first-served process for all aid, early submissions can open doors to additional funding opportunities.

• Federal deadline: Typically June 30 of the academic year for which you are applying.
• State deadline: Varies by state and may close earlier than the federal date.
• Institutional deadlines: Due to upcoming Title IV funding changes, students seeking Graduate PLUS Loans should plan to have aid disbursed by June 30, 2026, to remain eligible under current loan structures.^[8]

Tips to Maximize Your Graduate School Financial Aid

Completing the FAFSA is a chance to put yourself in the best position for funding. A few smart strategies can make the process work for you:

• Apply early: Early submissions give schools more time to assemble your aid package and help you qualify for priority funding.
• Cast a wide net: Departmental scholarships, field-specific opportunities, and nonprofit grants often rely on FAFSA data to determine eligibility.
• Plan for the full cost of attendance: Use cost estimators to budget for tuition, fees, housing, textbooks, and other essentials.
• Talk to a financial aid counselor: At Alliant, our financial aid team provides personalized guidance to help you understand your options, prepare for Title IV changes, and build a clear plan.

For many students, this is also the point at which the question: “Does FAFSA cover graduate school?” takes on its full context. Yes, it does but understanding how it works at the graduate level can help you make more informed choices.

Take Action Now — Do Not Wait to Secure Your Funding

Graduate funding does not arrive all at once. It is built in small, strategic steps: the FAFSA, scholarship applications, financial aid deadlines, and choosing the best-fit program.

Those steps are easier to take when you start early. And the earlier you start, the more doors stay open.

At Alliant, our graduate programs are designed for people who want to lead, teach, research, and build.

• Whether you are pursuing a PhD in clinical psychology, a doctorate in education, a DBA in business administration, or a master’s program in one of our other fields, each program is built around practical skills and flexibility that fit into your life.
• Our evening, hybrid, and online formats are designed for people who are already balancing work, family, and ambition.
• You will not navigate funding alone, either. Our financial team works closely with students to develop a funding strategy and help them stay informed about Title IV changes and deadlines.

Take the next step toward the career you have been working for. Start your FAFSA and apply to Alliant today to secure your funding. For more information, please visit our Financial Aid page or contact Student Finance at (858) 635-4700 and SF@alliant.edu.

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Sources:

^[1] 2025-2026 Federal Student Aid Handbook. “Annual and Aggregate Loan Limits”. Federal Student Aid Knowledge Center. July 26, 2023. https://fsapartners.ed.gov/knowledge-center/fsa-handbook/2025-2026/vol8/ch4-annual-and-aggregate-loan-limits. Accessed October 31, 2025.

^[2] Federal Student Aid. “Direct PLUS Loans for Graduate or Professional Students.” The U.S. Department of Education. August 21, 2025. https://studentaid.gov/understand-aid/types/loans/plus/grad. Accessed October 31, 2025.

^[3] APA. “Grants, awards and funding.” American Psychological Association. October 2, 2025. https://www.apa.org/about/awards. Accessed October 31, 2025.

^[4] Jessica Dickler. “Many companies are adding, expanding tuition assistance so workers can go back to college.” CNBC. May 30, 2023. https://www.cnbc.com/2023/05/26/many-companies-offer-tuition-assistance-for-workers-to-go-to-college.html. Accessed October 31, 2025.

^[5] IRS Fact Sheets. “Frequently asked questions about educational assistance programs.” Internal Revenue Service. June 12, 2024. https://www.irs.gov/newsroom/frequently-asked-questions-about-educational-assistance-programs#:~:text=Under%20section%20127%2C%20the%20total,is%20%245%2C250%20per%20calendar%20year. Accessed October 31, 2025.

^[6] Federal Student Aid. “Direct Subsidized and Direct Unsubsidized Loans.” The U.S. Department of Education. August 07, 2023. https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized. Accessed October 31, 2025.

^[7] Federal Student Aid. “Filling Out the FAFSA Form.” The U.S. Department of Education. December 17, 2024. https://fsapartners.ed.gov/knowledge-center/fsa-handbook/2025-2026/application-and-verification-guide/ch2-filling-out-fafsa-form. Accessed October 31, 2025.

^[8] The White House. “The One, Big, Beautiful Bill is a Once-in-a-Generation Chance.” The White House. May 16, 2025. https://www.whitehouse.gov/articles/2025/05/one-big-beautiful-bill-is-a-once-in-a-generation-chance/. Accessed October 31, 2025.

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Deborah Spindler
University Director of Financial Aid, Financial Aid Administration, Alliant University

In the role of University Director of Financial Aid, Deborah Spindler leads the Alliant University Financial Aid Administration. The financial aid administration is committed to providing assistance to qualified students who would otherwise be unable to pursue their educational and professional goals.

Alliant offers federal financial aid, including Title IV financial aid, and scholarships for U.S. citizens and legal residents. Financing is available through scholarships, grants, part-time employment, and loans. The federal government, state government, Alliant, and private sources finance these programs.