Become a graduate assistant. Colleges and universities make a number of different graduate assistantships available to students obtaining their master's degree. Some of these are in research or teaching, while others are in academic advising and student life. Students who qualify for an assistantship receive a tuition waiver as well as a monthly stipend for approximately 20 hours of work per week.
Apply for a grant. The U.S. government provides the TEACH grant to any person seeking a master's degree who plans to serve as an elementary, middle or high school teacher. Students receive up to $4,000 per year. No repayment exists if a teacher fulfills a teaching commitment of one year for each year she received the grant. Learn more about this grant by visiting the federal student aid website. In addition to the government, professional associations and nonprofit organizations make grant funding available for a master's degree.
Borrow student loans. Each graduate student qualifies to borrow up to $20,500 per year in student loans from lenders approved by the government. If a student qualifies for financial assistance, $8,500 of this amount is subsidized. The government pays the interest on the loan while the student is in school. Interest on unsubsidized loans is the responsibility of the student.
Use scholarships. Check with the graduate department of your school to find out if any scholarships are available to students in your graduate program. Visit the website of professional associations related to your degree subject to find out about scholarship opportunities. Check with nonprofit organizations and private foundations to learn if scholarships are available to you.
Talk to your employer about the possibility of receving funds for your master's degree. Ask your employer to fund your master's degree. Many employers pay for education for their employees since they see it as an investment in their company.