Can You Still Receive the Pell Grant for a Master's Degree?

You have your bachelor's degree, but now you're thinking about going back to school for a master's. You know that college can be expensive, and you're wondering how you're going to pay for your degree. Can you receive a Pell Grant as a graduate student?

Pell Grant awards are primarily intended for undergraduate students. While some graduate students may be able to use Pell Grant funds for their education, the vast majority will need to seek out other forms of financial aid.

What Is a Pell Grant?

A Pell Grant is a type of need-based financial aid award granted to qualifying college students. It is the largest federal financial aid program in the U.S. and has been around since 1972.

Pell Grants may be used to cover tuition and fees, room and board, textbooks, and a variety of other college costs. Award amounts vary and depend on financial need.

In most cases, Pell Grants do not have to be paid back. This sets them apart from student loans, another common type of federal aid students can obtain.

Can You Receive a Pell Grant as a Graduate Student?

Pell Grants are usually awarded to qualifying undergraduate students. Graduate students usually are not eligible for Pell Grant funds.

According to the grant's eligibility requirements, any student who has completed a bachelor's degree is ineligible for the Pell Grant. Undergraduate students who have not yet completed their degree are typically the only students who qualify for this particular financial award.

There are exceptions to this rule; however, if you're going back to school for a master's degree, your best bet is to complete the FAFSA and apply for scholarships to see what other forms of financial aid you may qualify for.

What Types of Master's Degrees Do Pell Grants Cover?

Again, there are exceptions to the rule noted above; in some cases, Pell Grants may be applied to master's degrees and professional programs. Let's take a look at the types of advanced degrees you may be able to receive Pell Grant funds for.

Long Professional Degrees

Some professional advanced degrees, such as six-year pharmacy programs, take several years to complete. In these programs, there is no clear distinction between graduate and undergraduate students; therefore, students enrolled in these types of programs may be able to receive Pell Grant funds for the first three years of their studies.

Dual Degrees

Many schools offer accelerated bachelor's-to-master's programs, also known as dual degrees. Because you are working toward a bachelor's and master's degree concurrently, the distinction between graduate and undergraduate students is not clearly defined. In these cases, the Pell Grant may be applied to your first three years.

Postbaccalaureate Teaching Program

Finally, students enrolled in a postbaccalaureate teaching licensure or certification program may be able to apply Pell Grant funds to the program. The program must not lead to a master's degree, must be offered at a school that doesn't have a bachelor's in education program, and only applies to those seeking initial certification or licensure and needing additional coursework to qualify.

What Forms of Financial Aid Are Available for Graduate Students?

Though the vast majority of postbaccalaureate students are ineligible for the Pell Grant, there are other types of financial aid you could pursue to graduate without debt. Let's look at some of the options.

Federal Aid

Graduate students can apply for federal grants, loans, and work-study programs by filling out the FAFSA. A variety of financial aid options are available to students who are able to demonstrate financial need, even if you're earning your second master's degree.

Scholarships

You may also want to seek out and apply for scholarships. Some scholarships are available to both graduate and undergraduate students, while some may be specifically available for graduate students. Keep in mind that scholarships are merit-based and often competitive, so choose options that you think would be a good fit for you.

Employer Tuition Benefits

Your employer may be willing to cover some or all of your master's degree expenses. Find out if your company offers these benefits to find out what type of employer aid may be available to you.

Fully Funded Programs

Finally, many master's degree programs are fully funded, meaning you receive stipends, tuition waivers, or other benefits to cover the costs of the program. These types of programs are common in STEM and fine arts degrees, but they may be available in other industries as well. They are highly competitive, but the payoff is highly rewarding if you're accepted into a fully funded program.