Apply for scholarships. Many master's degree programs give students full or partial scholarships based on academic excellence, professional work in their major, volunteer work, sorority/fraternity association, military status, income level and parenthood status. Inquire with your school's financial aid office to see what you might apply for.
Apply for fellowships and teacher assistantships. Liberal arts programs often offer master's degree students reduced or waived tuition, as well as a living stipend in exchange for research, working within the school, and/or teaching undergraduate courses while earning their degree. This gives you an opportunity to pay for school, as well as providing experience for your resume after graduation.
Apply for work-study. Work-study programs allow you to work for your school in exchange for a salary that can be applied to your tuition. The availability of work-study programs and the rate of pay vary, depending on your school and your job function.
Seek tuition reimbursement from your job. Employers of full-time workers often offer tuition reimbursement for employees going back to school to earn a degree in a subject that will benefit the company after graduation. They consider it an investment rather than a liability, because the company stands to make more money if you increase your level of expertise. Inquire at your job about the details; some companies make employees sign an agreement to continue to work for them for a certain amount of time after earning their degree to ensure the company receives some benefit in exchange for funding the degree.
Apply for a grant. Research the Internet and the public library for government and privately-funded programs that offer grants for adults looking to further their education with an advanced degree. Qualifications may be age- or income-based. If you find a grant you'd like to apply for, consider seeking help with the application process. Writing a grant proposal can be difficult and complex.
Secure a loan. Although it's optimal to finance your master's degree without having to borrow money, sometimes there is no other way. The government offers the Federal PLUS Loan for graduate students who need tuition assistance. According to Suze Orman at Oprah.com, the interest rate for these loans is typically eight to nine percent. Although it might take a few years to repay the loan, your degree will assuredly increase your earning potential and standard of living.