The TEACH Grant program is available for graduate students who are willing to sign an Agreement to Serve. This agreement states that the graduate will serve as a full time teacher at certain low-income schools and within certain high-need fields for at least four academic years. The graduate must complete the teaching assignment within eight years of graduation.
Federal work-study programs help pay tuition expenses and provide the student with part time work in their field of study while they are attending school. Graduate students are paid by the hour or salary, depending on the work performed. The hours are limited, and should not interfere with academic achievement.
Federal Perkins loans are available for graduate students, with amounts based upon financial need. This is a loan, at a reduced interest rate, which will need to be repaid after graduation.
Stafford Loans are for undergraduate, graduate and professional degree students. You must attend at least half time to be eligible. Half time is determined by the individual school, but includes at least 12 credit hours per semester.
There are two types of Stafford Loans: subsidized and unsubsidized. The subsidized Stafford Loan is based on financial need. The interest that accrues on the subsidized loan will be paid by the US Department of Education. Financial need is not a requirement to obtain an unsubsidized Stafford Loan, and students are responsible for paying the interest.
PLUS loans are also available for Graduate and Professional Degree students. These loans are based on credit history, and require the student to apply first for the Stafford loan.
In addition, many individual schools offer assistance for graduate students. There are also grants available in states, but these vary by state and educational institution.