As a college student embarks on their final year of their four year course, they are faced with a decision to enter into the work force, or continue with their studies by enrolling into a graduate program for a master’s or doctoral degree. By opting for the graduate program, they will be signing up for several more years of research, course work and study all leading up to the writing of a doctoral dissertation. This is an extremely rewarding and potentially lucrative option but first a student has to pay for the second round of college. Depending on the field of study, worthy candidates can apply for a variety of grants and fellowships that are award through industry and private foundations.
If you can win it, a fellowship is the best way to go. This is a specific amount of money awarded to a graduate student that enables them to pursue their studies. On the plus side, fellowships do not have to be paid back. There are two types of fellowship programs that a graduate student can apply to. These are portable and institutional. A portable fellowship permits the student select the school of their choice.
As for the institutional fellowships, these are awarded to graduate students to further their study at a specified institution. Even if you have selected on a particular university to get your graduate degree from, you aren’t limited to finding an institutional grant from that school. Institutional grants also provide a cushion of support for living and travel expenses. Some particular fellowship programs offer paid internships which bridge the gap between graduating and final job placement.
You’ll need a grant proposal to apply for fellowship. Each fellowship program has a specific set of requirements. You will need to explain your reasons for going into your chosen field of study and how your research might benefit society. Because research is a big part of any master’s or doctoral program, you may have to include some of the various research projects you plan to incorporate into your studies.