Paying for a M.A. Degree

A M.A. degree is a substantial investment in time, effort and money, and while it should pay off well over time, financing the degree can be a challenge. It may be helpful to keep the following facts and resources in mind:

1. Student Loans. M.A. students may be eligible for private loans.  For information, you may contact the Office of Admissions and Financial Aid at (212) 431-2828 or financialaid@nyls.edu.

2. Scholarships, Grants and Fellowships. Scholarships and grants for M.A. studies are not common, but they do exist. While there is generally little grant money available directly from schools for M.A. programs, some merit scholarships may be available. Moreover, numerous private organizations provide scholarships, fellowships, grants and awards for which M.A. students may apply. Each organization has its own application process and criteria, and starting early can be important in securing support. We are happy to provide guidance on possible funding sources to students who have been accepted and paid their deposits.

3. Tax Deductions. M.A. tuition is often deductible on federal and state income taxes. While college and J.D. tuition are not tax deductible, tuition in a M.A. program often is deductible as an educational expense needed to maintain or improve skills needed in your current work, or as a business expense if you are self-employed. For details, see IRS Publication 970: Tax Benefits for Education at www.irs.gov/pub/irs-pdf/p970.pdf , and consult with a tax advisor.

4. Employer Tuition Benefits. Many employers, such as law firms, financial institutions and government agencies, have tuition reimbursement or scholarship programs for their employees.  So check with your employer.

For questions and further information, please contact the Office of Admissions and Financial Aid at (212) 431-2828 or financialaid@nyls.edu.