Earning a master’s degree in education can help you advance your career, increase your earning potential, and bolster the skills needed to make a difference in education. If you are thinking about earning an MEd, you’ve probably also begun thinking about how to pay for it.
Here’s some good news: Many students take advantage of financial aid opportunities to pay considerably less than the “sticker price” listed on a school’s website. Prospective MEd students can benefit from varied funding options—including scholarships, loans, and military benefits—when they enroll in the Tulane University online Master of Education (MEd) program.
This article explores options that can reduce your financial commitment when you pursue this respected credential.
Advance Your Career With an Online MEd Degree
See How Scholarships Can Fund Your Tulane MEd
Understanding Federal Student Loans
Many graduate students use federal loans to help cover the cost of their tuition. Master’s degree students can borrow up to $20,500 per academic year in Direct Unsubsidized Loans. These fixed-rate loans are available to students regardless of demonstrated financial need. Interest on these loans accrues from the first disbursement; borrowers do not have to start repaying the loans until six months after graduating.
Borrowers requiring more than the Direct Unsubsidized Loan limit can take out additional Direct PLUS Loans. PLUS loans require a credit check; as with Direct Unsubsidized Loans, interest starts accruing when the loan is disbursed.
To apply for federal aid, you must complete the Free Application for Federal Student Aid (FAFSA). Completing this form as early as possible maximizes your opportunities for federal, state, and institutional aid.
20% Tuition Discount for Eligible Students
Tulane offers a 20% tuition discount to:
- Full-time educators and paraprofessionals
- Phi Theta Kappa (PTK) members
- Tulane alumni
- Active and retired public safety personnel (firefighter, police officer, or paramedic)
- Veterans and active-duty military personnel
- Employees who work for government offices in Jefferson Parish, Orleans Parish, or New Orleans
Discounts cannot be combined (i.e., a Phi Theta Kappa member who is a full-time educator receives a 20% discount, not a 40% discount); the discount can be used in conjunction with scholarships and other aid. The discount is applied after all other awards have been accounted for and is capped at 100% of tuition (i.e., if scholarships and tuition waivers cover 100% of your tuition without the 20% discount, you cannot receive the discount).
To apply for the 20% tuition discount, complete the online application form each semester after registering for your classes.
Employer Tuition Assistance
Nearly half of all employers offer tuition assistance benefits. If you plan to work while you earn your MEd, your employer may be willing to contribute. Eligibility requirements and coverage details vary by employer. Taking advantage of these benefits can significantly offset the costs associated with earning an advanced degree.
Students should reach out to their employer’s human resources department or benefits coordinator to learn more. Then, they should complete SoPA’s online form that outlines the corporate sponsorship agreement.
Military Benefits
Military veterans and active duty service members may qualify for education benefits under the Montgomery GI Bill, Post 9/11 GI Bill, and the Yellow Ribbon Program. The Montgomery GI Bill Active Duty applies to individuals who have served at least two years on active duty (at any time). The Post-9/11 GI Bill provides financial support to veterans who served on active duty after September 10, 2001. Candidates may qualify for both of these benefits, but they can only use one at a time.
If you qualify for the Post-9/11 GI Bill and need additional financial assistance to pay for higher out-of-state, private school, foreign school, or graduate school tuition and fees not covered by the GI Bill, you can also apply to the Yellow Ribbon Program. The Yellow Ribbon program uses SoPA resources combined with funds from the VA to fill the gap between your maximum GI Bill tuition benefit and SoPA graduate tuition.
Current members of the Army, Navy, Air Force, Marine Corps or Coast Guard Reserve, Army National Guard, or Air National Guard with a six-year service obligation may qualify for up to 36 months of education and training benefits through the Montgomery GI Bill Selected Reserve program.
To learn more about these benefits and discuss your eligibility, contact Student Veterans Services.
Take the Next Step Towards Financing Your MEd
Various financial aid options help Tulane MEd students offset tuition costs. Understanding and utilizing these resources is key to making your graduate journey as affordable and stress-free as possible. Connect with an enrollment advisor today to discuss the application process.