One way of funding postgraduate education is through a grant. A grant is money given to a PhD student by a donor based on a financial need or course of study. The donor can be an individual, corporation, government or non-government association. The foremost advantage of receiving a grant, is that it does not need to be paid back.
A scholarship and fellowship is a another type of PhD funding that does not need to be repaid by a student. The award of a scholarship or fellowship is based primarily on the qualities of the candidate, such as academic excellence and talent. Scholarships and fellowships can be found in many fields of research by way of businesses or non-profit organizations looking forward to advancing the field of study.
Apply for a teaching or research assistant position. An assistant position provides a student with the capacity to learn while being compensated with a stipend and a decrease in tuition fee. As an assistant, a postgraduate student will work in conjunction with the faculty and gain further knowledge that can improve his or her prospects of attaining a PhD degree.
A loan may be a choice of PhD funding but it requires paying back. Government backed loans, small bank institutions or private individuals are good sources for loans. The conditions for acquiring a loan is different among lenders. Interest is normally imposed and re-payment may commence before or after graduation. So, be sure to review all terms and conditions before signing loan documents.