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Grad apps, Step 8: Apply for financial aid and scholarships.

Applying for financial aid.

8 of 8 in a series


Let’s be realistic: grad school ain’t cheap.

Now that you’ve completed the applications for admission at each of your schools and programs, you’re almost done. You’ll still need to pay for school, and in order to obtain scholarships and loans, schools require you to submit financial aid applications.

Step 8: Apply for financial aid and scholarships.

In order to apply for financial aid, you’ll need a massive stack of information. Perhaps most crucial in that stack of information: your taxes.

Gather all required application forms and information from each school’s website or other information provided to applicants.

Even if you haven’t heard anything from the programs you’ve applied to, go ahead and submit a financial aid application. Don’t wait for your decisions to start rolling in. In fact, most schools will tell you not to do so. Be sure to find all instructions and deadlines. You should have marked these dates on your application calendars a while back and you should have printed out all the required information and placed it into your application file box. Retrieve all that information now so you can complete the final step.

Retrieve or complete your current year’s tax returns.

In order to complete the FAFSA (Free Application for Federal Student Aid), you’ll need your tax information (and possibly your parents’ info, too). While it’s not 100% necessary to actually file your taxes, you’ll need information that essentially requires you to complete them, so why not submit them? Generally, if you’re under age 30, you’ll also need your parents’ tax information, too. Check with the schools to which you’ve applied to find out if parental information is required; requirements vary from school to school.

Complete a FAFSA.

Virtually all schools require the submission of the Free Application for Federal Student Aid (FAFSA). Your FAFSA is used to determine any need-based grants and your loan awards. New forms are available each year starting January 1st. Get started as soon as possible, as many schools’ deadline is as early as March 1st.

You’ll need the school codes for each program to which you’ve applied. Codes can be retrieved from each program’s website or you can search for a school/program by name and location as you complete the FAFSA online at http://www.fafsa.ed.gov/.

Complete any required school-specific forms.

Some schools have a separate financial aid application you’ll need to complete, and this application is often available online or will be sent along with admissions information. If you haven’t found anything yet, make a call to the financial aid office to find out if there’s anything you should be completing and sending their way.

Apply for every possible scholarship!

Schools and private organizations often offer scholarships ranging from one-time $500 awards to renewable full-tuition awards. Usually, applicants for such a scholarship are asked to submit a topical essay and/or other information (letter of recommendation, résumé, etc.). There are tons of books available at your local bookstore and loads of information available online regarding such awards. Check your schools’ websites and hit the bookstore or your local library. Make a list of all the scholarship programs you’re eligible to apply for, and make a run at every dime you might get to help fund your education.

Research educational loans.

Chances are good you’ll need some loans to help fund your life through graduate school, and it’s never too soon to prepare. Get a credit report so you’re aware of your current standing, then research educational lenders. The financial aid folks at the schools you’ve applied to can offer you more information on public and private lenders with whom they work. Here’s a good place to start researching the different types of loans available: http://www.gradloans.com/.

Hurry up and wait.

Everything is now officially on its way! Many schools will email you to confirm acceptance of your application materials, completion, and decision status, but some won’t. The waiting game you’ll play between application submission and decision notification can be nerve-wracking. Pick up a hobby. Throw yourself into work with new vigor. Read more books. You might hear in a week, but you might not hear anything for several months. Remember that each applicant is different, and try not to hedge bets on whether or not you’ll be accepted or rejected. There’s only one way to find out, and you’ve done all you can. Only time will tell.

Good luck!

Grad apps, Step 3: Prepare for and take the appropriate test(s).

Test preparation

3 of 8 in a series


You’ve decided you want to go to graduate school. You’ve done your research. You’ve created your own system to manage your application process. Next, it’s time to get the biggest hurdle out of the way:

Step 3: Prepare for and take the appropriate test(s).

I could write about test prep all day–and will do so in later blog entries–but for the sake of the “To Do” list in progress, I’ll keep the main points few and, well, pointed. My goal in writing this tonight is to help you setup a study-and-execution plan for tackling your test or tests.

Determine which test(s) you will need to take for your particular program(s).

This may sound like a no-brainer, but there are some testing considerations that are easier to overlook. For most graduate business programs, you’ll generally need to take the GMAT; for law school, you’ll need to take the LSAT; for medical school, you’ll need to take the MCAT; optometry school, OAT; dental school, DAT; pharmacy school, PCAT; and for most other programs, you’ll probably need to take the GRE.

But some programs vary, and certain types of students may need to take additional tests. For instance, some graduate business schools accept the GRE or MAT (Miller Analogies Test). For students who were educated abroad (in locations other than the U.S.), most graduate programs require a TOEFL (Test of English as a Foreign Language). Research your particular program(s) at your particular school(s) to ensure you’re covering all your bases.

Learn all about the test(s).

Enter the name of the test into a search engine. Find out the test provider, then go to the testmaker’s website. Read up on the format and scoring of the test, content tested, and time restrictions. Find out where you’ll be taking the test and what you are and are not allowed to bring with you to the test center.

Questions you should be able to answer about the test(s) you need to take:

  • Is this a paper-and-pencil test, a computer-based test, or a computer-adaptive test?
  • What’s the difference between a computer-based test and a computer-adaptive test? (if applicable)
  • Will I be penalized for wrong answers or unanswered questions?
  • What content is tested?
  • What types of questions appear in each section?
  • How many questions of each type in each section?
  • How much time is allotted for each section?
  • How does this test’s content and format serve as a valid measure of aptitude for graduate studies in my field? (This one’s more of a question that, if applied to each question type, can help you better understand why the test is designed as it so that you can master the reasoning it tests.)

To help you on your way, here’s where you can find information on some of the most common graduate admissions tests:

  • GMAT — test administration organization: GMAC; website: www.mba.com
  • GRE — test administration organization: ETS; website: www.ets.org/gre/
  • LSAT — test administration organization: LSAC; website: www.lsac.org
  • MCAT — test administration organization: AAMC; website: www.aamc.org/mcat/

Devise a well-rounded and layered study plan.

There are countless different preparation methods available to you; the sheer volume of materials and resources available can be overwhelming. Should you take a class? Study alone? Hire a tutor? Which books should you use to study? Should you practice on the computer? Should you study math content? If so, which content? Should you focus solely on testing strategy? If so, what strategies are most effective?

How you prepare–class, solo study, tutor–is up to you. But here’s what you must do:

  • Always start with an actual practice test, preferably a sample test released by the testmaker. That’s your baseline, and it’ll help you figure out your natural strengths and weaknesses in both content and strategy.
  • Balance your approach. Your preparation should include a combination of content-based study, test/question/section strategy, and test simulations.
  • Your early preparation should be dominantly content-oriented, with a moderate dose of question-type strategy and very little, if any, test-like practice. Take advantage of the time you have to really shore up your weaker areas, but make sure you don’t neglect your strengths. Taking too many practice tests or sections too early in the game merely reinforces bad habits, making them harder to break later on.
  • Your mid-range preparation should be a balance between content-oriented study and question- and section-strategy practice, with some test simulations.
  • The final stage of your preparation should be primarily test simulations, with detailed post-mortem analysis of each test from all points of view (weak content areas, troublesome question types, and section/test strategy issue management). Make sure you take adequate time in your analysis to learn from your mistakes.

As for the solo study/class/tutor question, you’ll need to do some self-reflection here. If you tend to do well on standardized tests and you’re very disciplined, then solo study might be fine. If you’re slightly less disciplined, then the structure of a class might do you well. And it’s always great to have the advice of an expert available in a class or through a tutor, but cost is a factor to consider (and add to your budget, should you choose one of these options).

Use quality materials.

With the stockpiles of material available to you, it’s easy to get overwhelmed. The first and best material to use is the material released by the testmaker. Get your hands on previously released tests and free practice materials, usually available on the testmaker’s website. You may also be able to purchase additional prep materials through the website or at your local or online bookstore.

To supplement the testmaker’s resources, join some online forums and read through the posts of other test takers. Use an internet search engine. Play on Grockit!

Your materials should provide a mix of formats, at least some of which should be very similar to that of the test. Shameless-yet-earnest plug: Since most tests are now either computer-based or computer-adaptive, Grockit can provide great preparation in a rather test-like format, while still allowing you to work on content with experts and other learners alike and review your practice material in-depth later on.

Do test simulations.

Never, and I mean never ever, take a standardized test without doing a healthy amount of test simulation practice. Make sure your test simulations are as test-like as possible: place yourself in a similar environment, observe time constraints strictly, use only the resources you will be permitted at the test site (i.e., don’t use your calculator unless your test permits the use of one), and take only the allotted breaks.

After learning about the test format, always start your preparation with an actual practice test, preferably a sample test released by the testmaker. Take it before you review any content (and likely waste time reviewing stuff you already know or didn’t need to know). That’s your baseline, and it’ll help you figure out your natural strengths and weaknesses in both content and strategy.

Don’t do too many prep tests until you’re comfortable with the knowledge that your test-taking habits are correct and consistent. As you shift into your later phases of preparation, you should ramp up the frequency of your simulations. Once you’ve scored three times at in acceptable score range, you’re ready to take the real thing.

Once that’s done and your scores are finalized, it’s time to get to the paperwork.