Pursuing a master’s degree in the United States can be an expensive endeavor. Tuition fees alone can cost anywhere from $30,000 to $60,000 per year at public and private universities respectively. When you add in expenses like housing, books, supplies, and cost of living, the total cost can easily exceed $80,000 per year.
Fortunately, there are numerous scholarships available to help offset the cost and make obtaining a master’s degree more affordable. Here are 40 great scholarships masters students should consider applying to:
National Organizations
1. Fulbright Scholarship
The Fulbright Scholarship is a prestigious award program that provides funding for students to study, research or teach English abroad after graduation. There are several types of Fulbright scholarships for master’s candidates including the Fulbright Foreign Student Award and Fulbright Foreign Language Teaching Assistant award.
Award: Varies based on program, covers travel, tuition, and living stipend
Eligibility: U.S. citizen, master’s student or recent graduate with relevant teaching or research proposal
Deadline: Varies based on the program, usually between August to April annually
2. National Science Foundation Graduate Research Fellowship
The NSF GRFP provides three years of financial support for master’s and doctoral students pursuing research-based STEM or STEM education degrees. The fellowship includes a $34,000 annual stipend and $12,000 cost-of-living allowance.
Award: $46,000 per year for 3 years
Eligibility: U.S. citizens or permanent residents in the early stages of the STEM master’s program
Deadline: October/November annually
3. Paul & Daisy Soros Fellowships for New Americans
This fellowship is available to immigrants or children of immigrants pursuing up to 2 years of full-time graduate study in the United States. Applicants must show potential for making significant contributions to American society.
Award: Up to $90,000 in tuition and living expenses
Eligibility: Immigrants or children of immigrants enrolled in masters program at U.S. institution
Deadline: November annually
4. Payne International Development Graduate Fellowship
This USAID fellowship provides $24,000 in benefits over two years to students pursuing a masters in international development or a related subject. It includes internship placements, tuition assistance and housing.
Award: Up to $24,000 over two years
Eligibility: U.S. citizens enrolled in a masters program related to international development
Deadline: January annually
University Sponsored
5. Princeton University – Bowen National Scholarship Program
This highly selective scholarship covers the entire cost of a masters degree at Princeton, including tuition, mandatory fees, on-campus housing and a food allowance.
Award: Full cost of attendance
Eligibility: Citizens or permanent residents admitted to Princeton masters program
Deadline: January 5th annually
6. Stanford University – Knight-Hennessy Scholars Program
The Knight-Hennessy Scholars program provides financial support to pursue graduate study at Stanford without restriction by field or nationality. 100 scholars are selected annually.
Award: Tuition and living stipend for duration of masters program
Eligibility: Students admitted to Stanford graduate program from any country
Deadline: September/October annually
7. Harvard University – Harvard-MIT Health Sciences and Technology Scholarship
A full-tuition scholarship is awarded to select incoming students of the Harvard-MIT Health Sciences and Technology graduate program each year. Applicants are chosen based on merit.
Award: Full tuition scholarship
Eligibility: Students admitted to Harvard-MIT HST masters program
Deadline: February 1st annually
8. New York University – MacCracken Program
The MacCracken Program provides full-tuition plus a stipend to selected NYU applicants looking to pursue a masters degree. Students must be nominated by their undergraduate institution.
Award: Full tuition plus stipend
Eligibility: Graduating U.S. seniors nominated by undergraduate college; must apply by December
Deadline: January 5th annually
9. University of Michigan – Rackham Merit Fellowship
Rackham Merit Fellowships provide multiple years of financial support for outstanding graduate students at the University of Michigan. Over 200 recipients are selected annually.
Award: Minimum $17,000 stipend plus full tuition for 1-2 years
Eligibility: Students nominated by their UMich graduate program
Deadline: Program specific deadlines
10. University of California, Berkeley- Regents’ and Chancellor’s Fellowship
Prestigious fellowship for UC Berkeley graduate students providing a stipend, tuition and fees for up to three years. Around 150 recipients chosen annually.
Award: $41,400 stipend plus tuition and fees
Eligibility: Students nominated by their Berkeley graduate program
Deadline: January annually
Field of Study Specific
11. SWE Scholarship Program
The Society of Women Engineers provides various masters scholarships of up to $20,000 to women pursuing graduate degrees in engineering or computer science.
Award: $10,000-$20,000
Eligibility: Female U.S. citizens in accredited engineering/comp sci master’s program with 3.5+ GPA
Deadline: November 15th annually
12. NSHSS STEM Scholarship
The National Society of High School Scholars provides a $2,500 scholarship to members pursuing a STEM-related graduate degree. A 3.0 GPA and submission of research proposal is required.
Award: $2,500
Eligibility: NSHSS members enrolled in STEM masters program
Deadline: May 31st annually
13. AWS Machine Learning Scholarship
Offered by Amazon Web Services, this scholarship provides $3,000 to women studying advanced machine learning and artificial intelligence in a graduate program.
Award: $3,000
Eligibility: Women enrolled in eligible machine learning focused masters program
Deadline: June annually
14. Gates Millennium Scholars Program
Funded by the Bill and Melinda Gates Foundation, this scholarship provides outstanding minority students with an opportunity to complete a graduate degree in any discipline.
Award: Varies based on financial need
Eligibility: Underrepresented minority students beginning graduate program in any discipline
Deadline: January annually
15. AICPA Fellowship for Minority Doctoral Students
This fellowship provides up to $12,000 annually to minority students completing a PhD in accounting to teach at a U.S. university. Applicants must be AICPA student members.
Award: Up to $12,000 per year
Eligibility: Minority students in PhD accounting program with intent to teach afterward
Deadline: April 1st annually
16. APIA Graduate Scholarship
Scholarships ranging from $2,500 – $20,000 for Asian Pacific Islander American students pursuing a graduate or professional degree at an accredited U.S. institution.
Award: $2,500 – $20,000
Eligibility: U.S. citizens of Asian or Pacific Islander descent in graduate program
Deadline: January annually
17. Jeanne Sinkford Fellowship
Awards $15,000 to minority students enrolled in an accredited U.S. dental school who have demonstrated leadership and academic excellence.
Award: $15,000
Eligibility: Underrepresented minority students in accredited U.S. dental school
Deadline: February annually
18. International Dissertation Research Fellowship
Supports graduate students in the humanities and social sciences conducting dissertation research outside of the United States. Awards up to $18,000.
Award: Up to $18,000
Eligibility: PhD students in humanities/social sciences planning dissertation research abroad
Deadline: November annually
19. Charlotte W. Newcombe Doctoral Dissertation Fellowship
Provides $25,000 in support of Ph.D. candidates writing dissertations on moral, religious, or ethical values. Open to any humanities or social science field.
Award: $25,000
Eligibility: PhD candidates writing dissertation with ethical focus
Deadline: November annually
20. SREB-State Doctoral Scholars Program
Provides up to $30,000 per year in financial assistance and tuition coverage for underrepresented minority students to obtain doctoral degrees at participating institutions.
Award: Up to $30,000 annually
Eligibility: Member of underrepresented minority group accepted to PhD program at participating university
Deadline: Varies by state
Minority Focused
21. UNCF STEM Scholars Program
Awards $2,500 to $5,000 based on merit to African American students pursuing a masters in STEM fields who maintain a 3.0 GPA. Renewable for up to 3 years.
Award: $2,500 – $5,000 per year
Eligibility: African American students in STEM masters program with 3.0+ GPA
Deadline: April annually
22. Hispanic Scholarship Fund
Provides scholarships and fellowships to Hispanic American students pursuing graduate study in various fields, primarily business, engineering and healthcare. Awards up to $5,000.
Award: $1,000 – $5,000
Eligibility: Hispanic graduate students in business, STEM, or healthcare programs
Deadline: April – October annually
23. Point Foundation LGBTQ Scholarship
Multi-year scholarship fund for LGBTQ students pursuing graduate study in a variety of disciplines. Covers tuition, living expenses, mentoring and leadership training.
Award: Varies
Eligibility: Undergraduate or graduate students who identify as LGBTQ
Deadline: January annually
24. American Indian Graduate Center
Offers fellowships to Native American and Alaskan Native students pursuing a masters or doctoral degree. Awards up to $30,000 per year based on merit and need.
Award: Up to $30,000 annually
Eligibility: Verified American Indian/Alaskan Native graduate students
Deadline: June 1st annually
25. NANBPWC National Scholarships
The National Association of Negro Business and Professional Women’s Clubs provides scholarships to African American women pursuing graduate study in various fields. Awards range from $1,500 – $6,000.
Award: $1,500 – $6,000
Eligibility: African American women accepted into accredited graduate program
Deadline: March 1st annually
Subject Specific
26. Tobin Project Fellowships
Provides full funding for masters students to pursue data-intensive research projects aligned with the Tobin Project’s mission and research agenda.
Award: Full tuition plus $40,000 stipend over 2 years
Eligibility: Students admitted to a quantitative social sciences masters program
Deadline: January annually
27. SMART Scholarship
The Science, Mathematics and Research for Transformation provides up to 3 years of full tuition and cash awards for masters students committed to federal service in a STEM field.
Award: Full tuition plus cash award
Eligibility: U.S. citizens in eligible STEM masters program with 3.0 GPA
Deadline: December annually
28. Frank Kazmierczak Graduate Scholarship
Scholarship for masters students studying aerospace engineering or aerospace-related sciences. Must have 3.5 GPA and submit research proposal. Award amount varies.
Award: $5,000 – $10,000
Eligibility: Students studying aerospace engineering or related sciences
Deadline: February 1st annually
29. AAUW Selected Professions Fellowships
Awarded to women pursuing full-time graduate study in designated fields where women are underrepresented. Awards $5,000 – $18,000 based on need.
Award: $5,000 – $18,000
Eligibility: Women pursuing graduate study in designated programs like business, architecture, math/computer science etc.
Deadline: January annually
30. James A. Turner, Jr. Memorial Scholarship
For minority students pursuing a masters degree and career in health administration. Covers up to $5,000 in tuition costs. 3.2 minimum GPA required.
Award: Up to $5,000 tuition assistance
Eligibility: Minority students seeking masters in healthcare/hospital administration
Deadline: March 31st annually
Regional Opportunities
31. ThinkSwiss Research Scholarships
Scholarships for U.S. and Canadian citizens to pursue a fully funded masters degree at a public Swiss university, university of applied sciences, or arts and design school.
Award: Full tuition plus stipend
Eligibility: U.S. and Canadian citizens admitted to eligible Swiss graduate program
Deadline: Varies by program
32. Massachusetts STEM Path Scholarship
Awards up to $40,000 in tuition reimbursement plus internship opportunities for Massachusetts residents pursuing a masters in STEM fields at state colleges or universities.
Award: Up to $40,000 tuition reimbursement
Eligibility: MA residents accepted to STEM masters program in MA state school
Deadline: May annually
33. Delaware Diamonds Scholarship
Merit-based scholarship for Delaware residents pursuing a graduate or professional degree at an eligible in-state or out-of-state institution. Awards up to $25,000.
Award: Up to $25,000
Eligibility: DE residents pursuing graduate/professional degree
Deadline: March annually
34. Oregon Laurels Scholarship
Graduate tuition waiver program for academically qualified Oregon residents pursuing an advanced degree at any of Oregon’s public universities.
Award: Tuition waiver
Eligibility: OR residents admitted to graduate program at OR public university
Deadline: March 1st annually
35. Washington NASA Space Grant
Provides scholarships and fellowships to Washington state students pursuing masters or doctoral degrees in aerospace-related fields. Award amounts vary.
Award: $5,000 – $12,000
Eligibility: WA state residents admitted to graduate program in aerospace field
Deadline: February annually
Career Specific
36. PEO International Peace Scholarship
Provides scholarships to women from abroad seeking graduate study in the U.S. or Canada in fields leading to careers promoting peace and understanding between cultures.
Award: Up to $15,000
Eligibility: Women pursuing graduate study in the U.S. or Canada from outside North America
Deadline: December annually
37. AICPA John L. Carey Scholarship
Scholarship for minority accounting students pursuing a master’s in accounting who intend to become accounting professors. Applicants must be AICPA student affiliate members.
Award: Up to $5,000
Eligibility: Minority accounting masters students planning to teach
Deadline: April 1st annually
38. International Student 4-H Scholarship
4-H awards scholarships to international students coming to the U.S. for graduate study in agriculture-related fields at land-grant colleges and universities.
Award: $6,000
Eligibility: International students planning to study agriculture, or a related field, at a land-grant university in the United States.
Deadline: January 15th annually
39. A. James Clark School of Engineering Endowment
Full tuition and stipend for graduate students from underrepresented minority groups or underserved communities pursuing an engineering masters degree at the University of Maryland’s A. James Clark School of Engineering.
Award: Full tuition plus $25,000 annual stipend
Eligibility: Members of underrepresented minority groups beginning engineering masters at UMD
Deadline: February annually
40. Roy Scrivner Research Grant
Grants up to $5,000 to support masters thesis research related to family life education. Open to qualifying FLE students nationwide.
Award: Up to $5,000
Eligibility: Masters students conducting FLE-related thesis research
Deadline: June 15th annually
Frequently Asked Questions
What are the main types of master’s scholarships available?
There are several main types of masters scholarships:
- National scholarships open to all students across the country, such as Fulbright or NSF GRFP
- University-sponsored scholarships for students accepted to specific schools
- Field of study scholarships for specific degrees like engineering or healthcare
- Minority scholarships aimed at increasing representation
- Regional/state scholarships for residents of certain states or areas
- Career-specific scholarships for future professions like teaching
What are the most prestigious master’s scholarships?
Some of the most prestigious national master scholarships based on competitiveness, benefits and prestige include:
- Fulbright Scholarships
- Rhodes Scholarships
- Marshall Scholarships
- National Science Foundation (NSF) Graduate Research Fellowships
- Paul and Daisy Soros Fellowships for New Americans
How can I find scholarships specific to my master’s degree?
- Check with the financial aid office of the colleges you are applying to for school-specific aid
- Talk to your career office or academic advisors about scholarships in your desired field
- Use scholarship search tools like Fastweb or Scholarships.com
- Google “[Your Field of Study] Masters Scholarships”
What information is required for most scholarship applications?
Typical requirements include:
- Personal information like name, contact details, residency/citizenship status
- Academic transcripts and GPA
- Test scores if required by the program
- Letters of recommendation
- Personal essays or statements
- Information on extracurricular activities
What are some tips for writing strong scholarship essays?
- Carefully read the prompt and understand what the reviewers want to learn about you. Tailor your essay accordingly.
- Determine your main theme or focus. All parts of the essay should relate back to this central point.
- Show, don’t tell. Use stories, examples and anecdotes to demonstrate your qualifications instead of just stating them.
- Proofread extensively. Check for errors, awkward phrasing and unclear writing. Ask others to review your essay.
- Pay attention to structure. Use transitions between paragraphs and have a strong intro and conclusion.
- Express your passion. Scholarship committees want to see your excitement for your field of study.
How early should I start applying for scholarships?
- If you are applying for national scholarships that require nomination by your undergraduate institution, you may need to start the process 6-12 months before the deadline. Talk to advisors right away.
- For other scholarships, aim to start searching for opportunities at least 6-9 months before you start your graduate program. Deadlines are often 4-6 months before the academic year begins.
- For need-based aid like grants and loans, you should complete the FAFSA as soon as possible once it opens on October 1st.
- Don’t wait until the last minute! Many popular scholarships receive thousands of applicants. Give yourself time to put together quality materials.
Can I apply for scholarships to any graduate school I am admitted to?
- Most scholarships are portable and can be used at any accredited graduate school in the United States. However, some are restricted to certain universities or programs.
- Institutional scholarships from a specific college can typically only be used for study at that institution. Read the fine print before applying.
- Ask graduate programs about their policy for external scholarships before counting on bringing outside aid with you.
What other graduate funding options exist beyond scholarships?
Some alternatives for funding master studies include:
- Fellowships – awarded based on merit similar to scholarships
- Grants – need-based aid that does not need to be repaid
- Student loans – available through the federal government and private lenders
- Employer tuition reimbursement programs
- Teaching or research assistantships – work in exchange for tuition remission
- Savings from work or Help from family if possible
- Applying for a mixture of funding types to reduce reliance on any one source