How much is grad school because you have to know if you can afford a few more years of school

Undergrad is wrapping up and you've been thinking about grad school. It could be a major payoff in the long run, but first you've got to get through it. Money is a major concern for a ton of students who are considering an extended academic career. Graduate programs are defintely an added expense, but how much is grad school for real?

A basic gauge

Peterson's estimated that the average annual tutition at a public college or university would cost around $30,000. Private unis obviously get pricer and could be about $40,000 a year. If you want to attend a prestigious school like Harvard or Stanford, you could end up shelling out $120,000 annually, according to The Best Master's Degrees.

Wait, there's more

Okay, so you have to remember that there's going to be a lot of other expenses beyond just paying for classes. There will be textbooks and supplies. You still have to find somewhere to live and provide for yourself. You'll need grocieries, tolietries, and transportation on the reg.

A lot of people work while they're getting their graduate degrees. It totally makes sense that you'd want to make money to support yourself. The problem is that if you're only taking night classes, odds are it'll take you longer to graduate and possibly be more expensive.

Student loans are a thing

Did you take out loans for undergrad? You'll have a lot of debt when you graduate. There could be another serious sum added to your debt by entering a grad program. You might have to start repaying for your undergrad while you're starting your grad program depending on your loan plan.

It's a lot to consider. You should defintiely sit down with financial services at your current school and see what can be done. It would also be a pretty good idea to chat with your lending service or lender to see what they could offer if you continued your education.

If things aren't looking financially feasible to go straight into grad school, consider taking a year or two. Get a job and earn some money to save up. Some employers will help pay for you to get a post-grad degree. It's definitely something to consider.