College vs Graduate School: What to Know

As you plan your next steps, consider college vs grad school and what taking that next step in your higher education will mean.

Before you start the grad school search, make sure you know what you're signing up for.

You finished four years of college and feel that you have finally accomplished your goal. Now you will be able to go out and get hired, on the spot, for the job you have always wanted. Or will you? Obtaining the job you want right out of college isn't always a reality. Many college graduates end up working in jobs unrelated to their chosen majors just to pay the bills. Also, more often than not these days, a career in a certain field requires a Master's degree at minimum.

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As a result, students who thought they had completed their education at the undergraduate level often choose to return to school for an advanced degree, in hopes of securing a better job and earning more money.

There are some differences between graduate and undergraduate school. The following is a list of some of the changes you can expect as you begin your grad school search.

1. You're responsible for housing.

Unlike undergraduate colleges and universities that provide housing, such as dorms or apartments for their students, graduate schools often do not. With that, there is more research that goes into choosing and preparing to attend a specific school. When choosing a graduate degree program, it is essential to consider where you will be living. If you have to have off-campus housing, then you may have to maintain a full or part-time job while in school. As you consider grad schools, think about the program you want to attend, the city you will live in, and what kind of financial considerations you need to make to afford it all. Do you need a part- or full-time job? Can your housing and other student expenses be covered by grad loans?

2. Your studies are more focused.

While at the undergraduate level. Students must take a number of general education courses, which they may not find particularly interesting. Graduate degrees, however, usually require only courses that relate to the student's major. This will help students be more focused and enthusiastic about their coursework. Many graduate programs offer students the opportunity to apply for assistantships and fellowships. If a student earns one of these, they work for the school, and usually the entire tuition is paid for. They may also qualify for a stipend each semester. The student will work as an assistant in a department, or they may even teach undergraduate courses. Applying for an assistantship and/or fellowship is a great way to offset the cost of returning to school. It will enable them to eliminate or minimize the need for graduate loans.

3. You must prepare for and take the GRE/GMAT/LSAT/MCAT/etc.

There will be exams that you need to take to be eligible for some graduate programs. It is a good idea to find out which grad school exam you will need to take to enter the graduate degree program of your choice and begin to study for it. Please visit the website for the specific test you need to take to learn about deadlines and fees. Because tests are only given on specific dates, and there is a wait time for the scores to be sent to your school of choice, it is best to get a head start on the process.

Just as you practiced for the SAT and ACT during the college admissions process, you can also practice for graduate school exams. Peterson's offers a wide range of study guides and practice tests for grad school exams.

4. The program length varies by field of study.

Unlike bachelor's degrees, which usually take four years to complete, graduate-level degrees can take anywhere from one to six years to complete, depending on your program. It is best to be informed about the program's length and the required credit hours for graduation before beginning. Ask yourself: How much do you really like the subject matter? How will earning the degree change your career trajectory? Ultimately, is it worth the cost to attend graduate school? Typically, Master's degree holders will make more than a student who graduated with a Bachelor's degree. For an idea of how much you'll make with your further education, see Monster's Salary Tool. You can search for job opportunities by job title and location.

5. Your financial aid options look different.

Graduate students rely more heavily on assistantships, fellowships, and grants to cover the costs of their education. These applications often require just as much work as the graduate school application itself; however, they are invaluable in that they provide funding for tuition, research, and other expenses.

There are also grad school loans from the federal government and private lenders, known as Grad PLUS Loans. Finally, some graduate students may qualify for Federal Work-Study, which is similar to the undergraduate financial aid program. Finally, just like undergrad, Fastweb offers scholarships for graduate students. All you have to do is fill out a free profile, and we'll find scholarships for which you qualify from our database.