Student Financing of Graduate and First-Professional Education

In 1989–90, 2 million students were enrolled in master’s degree, doctoral degree, or other graduate programs, and an additional 300,000 students were enrolled in first-professional degree programs.

Approximately one-half of these students were 30 years or older, 41 percent attended full time, and 96 percent were financially independent. Fifty-six percent were female, and the overwhelming majority of students were white, non-Hispanic (82 percent).

Fifty-eight percent of all postbaccalaureate students were enrolled in master’s degree programs; another 11 percent were enrolled in doctoral programs, 13 percent in first-professional programs, and 18 percent in other graduate programs.

Average total expenses for 1989–90 for full-time graduate and first-professional students were $15,920, of which 38 percent was for food and housing, 32 percent for tuition and fees, 6 percent for books and supplies, and 25 percent for other expenses such as commuting costs, transportation to the student’s permanent home, child care, and personal expenses. For students who attended full time, full year, their average expenses were $17,106. Expenses were greater for first-professional students than for master’s or doctoral students, primarily because of higher tuition and fees.

Overall, 45 percent of all graduate and first-professional students received some type of financial aid, including 70 percent of first-professional students, 60 percent of doctoral students, and 40 percent of master’s students.

Institutions were the most important source of aid: 25 percent of all graduate and first-professional students received institutional aid. Federal aid was awarded to 18 percent, and state aid to 3 percent. Ten percent of students received aid from their employers.

The average award to aided full-time students was $10,703. Doctoral and first-professional students received larger awards, on average ($13,395 and $12,310, respectively), than did master’s students ($8,736). At each degree level, full-time students who attended private not-for-profit institutions received larger amounts of financial aid, on average, than did those who attended public institutions. For aided students who attended full time, full year, the average aid award was $12,213.

Among all graduate and first-professional students, 29 percent received grants (including tuition waivers), 17 percent received loans, and 10 percent received assistantships.

The type of aid awarded varied by degree program. Doctoral and first-professional students were more likely than master’s students to receive grants (40 percent and 35 percent, respectively, compared with 28 percent). Doctoral students were the most likely to receive assistantships (29 percent compared with 9 percent of master’s students and 3 percent of first-professional students). First-professional students relied much more heavily on loans (60 percent had loans) than did master’s or doctoral students (12 percent of each had loans).

Almost one-half of all aided graduate and first-professional students (48 percent) received grants only, and another 20 percent received loans only; 15 percent received grants and loans, and 13 percent received other types of aid only (primarily assistantships).

Overall, 6 percent of all graduate and first-professional students were supported by financial aid only, 46 percent by themselves and their families only, and 31 percent by a combination of financial aid and family support (including self-support). Information on how the remaining 17 percent supported themselves was not available.

Of students with family support (including their own savings and earnings), 23 percent received financial support from their parents or other relatives, and 13 percent from a spouse.

For more information about the content of this report, contact Aurora D'Amico at Aurora.D'Amico@ed.gov.