Financial Aid for Doctoral Students: Lower the Cost of Your PhD

Doctor of Education (EdD)

Price Range: $21,000 to $86,000

Cost Factors:

• Most programs require 60–70 credits, with tuition from $350–$2,025 per credit.
• Additional costs may include dissertation research credits, conference attendance, or seminar fees.
• Private universities (e.g., USC) may appear more expensive, but grants and fellowships can offset much of the cost.

Doctor of Nursing (DNP)

Price Range: $10,000 – $65,000

Cost Factors:

• Prices depend on program format (online vs. hybrid) and clinical requirements.
• Travel to clinical sites can add transportation and lodging costs.
• Students with a master’s degree typically need 35–45 credits to graduate.
• Example: Duke University requires 35 credits at $1,838 per credit (≈$64,330 total).

Doctor of Business Administration (DBA)

Price Range: $12,000 – $140,000

Cost Factors:

• Tuition differs between online and on-campus formats; many online programs charge flat rates for all students.
• Some schools accept transfer credits, reducing total cost.
• Example: University of Maryland Global Campus charges $1,087 per credit for both in-state and out-of-state students (no transfer credits allowed).

PhD in Computer Science

Price Range: $9,975 – $75,000

Cost Factors:

• Requires 30–90 credits depending on prior education and pace.
• Duration affects cost: candidates with a master’s may finish in 2 years, while others take 3+ years.
• Dissertation research time adds significant variability.
• Example: Harvard University charges $49,448 per year for the first two years, then $12,858 per year thereafter.

Doctor of Physical Therapy (DPT)

Price Range: $45,000 – $106,000

Cost Factors:

• Major tuition differences between resident and nonresident students.
• Example: University of Nebraska residents pay ≈$45,700; nonresidents pay ≈$88,500.
• Example: Baylor University charges a flat $17,098 per semester regardless of residency.

PhD in Psychology

Price Range: $33,000 – $90,000

Cost Factors:

• Costs vary by program length and residency status.
• Programs often include clinical practicums or internships, which may extend program time and expenses.
• Tuition, living costs, and unpaid practicum experiences can all influence the total price.

Doctor of Pharmacy (PharmD)

Price Range: $20,000 – $150,000

Cost Factors:

• Average tuition ranges $5,100–$50,000 per year, with programs lasting 3–4 years.
• Example: UC San Francisco PharmD costs $11,442 annually, but total expenses can double once fees are included.

Doctor of Social Work (DSW)

Price Range: $23,000 – $82,000

Cost Factors:

• Costs range widely depending on school and delivery format.
• Example: Barry University offers one of the most affordable programs at $22,850 total.
• Example: Rutgers University charges $8,868 per semester (in-state) and $15,072 (out-of-state).
• Location and residency status significantly affect overall price.

Institutional Aid

Many universities provide internal financial aid for doctoral students, often through merit- or need-based awards.

You’ll usually need to complete both the FAFSA and the CSS Profile, which helps schools award non-federal institutional aid.

Examples of institutional aid include:

• University-wide or departmental scholarships
• Graduate fellowships tied to research or teaching
• Assistantships that cover tuition and provide stipends

Scholarships

Scholarships are “free” money that you don’t have to repay. While fewer exist for doctoral students than for undergraduates, they still play a valuable role — especially early in your program.

Key Facts:

• Often merit-based, but may also consider need or field of study.
• Can be awarded through universities, nonprofits, or private foundations.
• Some support specific demographics, such as women, first-generation students, or underrepresented minorities.

Because doctoral studies are highly specialized, scholarships tend to fund particular fields or research interests rather than general study.

Grants

Like scholarships, grants are non-repayable aid — but they’re often tied to financial need or research activity.

Common grant sources:

• Federal and state governments
• Universities and private organizations
• Professional associations in your field

While the Pell Grant is usually reserved for undergraduates, graduate students can pursue other options such as:

• TEACH Grants (for education-related doctorates)
• State-funded graduate grants
• Institutional research grants

Some grants may require recipients to complete specific projects or maintain academic progress to remain eligible.

Fellowships

Fellowships are among the most prestigious and valuable funding opportunities for PhD students. They’re often merit-based and can fully or partially fund your degree.

They typically include:

• Full or partial tuition coverage
• Stipend for living expenses
• Sometimes health insurance or research support

Some fellowships require recipients to:

• Teach undergraduate courses
• Assist with research projects
• Publish or present findings as part of their award

Fellowships may cover specific phases of your program, such as coursework or dissertation research, and are offered by both universities and external organizations.

Assistantships

Assistantships provide hands-on work experience in exchange for tuition coverage and stipends. They can be teaching, research, or administrative roles within your department or college.

• Usually require 15–25 hours per week of work
• Often cover partial or full tuition
• May include monthly stipends for living costs
• Typically renewed annually, contingent on performance and available funding

Assistantships also enhance your resume, offering direct teaching or research experience that supports your academic career.

Federal Student Loans

When grants or scholarships don’t cover all expenses, federal loans can help fill the gap.

Graduate students are eligible for several federal loan types, all of which offer fixed interest rates and repayment flexibility.

1. Direct Unsubsidized Loans: Borrow up to $20,500 per year, regardless of financial need.
2. Direct PLUS Loans: Cover remaining educational costs not met by other aid.
3. Direct Consolidation Loans: Combine multiple loans into one payment for easier management.

Graduate students are not eligible for Direct Subsidized Loans. Always borrow conservatively and explore federal options before private ones.

Private Students Loans

Private loans come from banks, credit unions, or state-affiliated lenders. They can supplement federal aid but usually carry higher interest rates and fewer repayment protections.

Before borrowing privately:

• Compare lenders carefully and review all terms.
• Check if a co-signer could lower your rate.
• Borrow only what you need after exhausting federal loan eligibility.
• Understand that private loans rarely offer forgiveness or income-based repayment.

Private loans can be useful for short-term funding gaps, but they’re best treated as a last resort due to stricter terms and repayment risks.

Tuition Reimbursement: Employer

If you’re currently working, your employer may help cover tuition costs through a tuition reimbursement program.

• Roughly 60% of employers offer tuition assistance, but fewer than 5% of employees use it.
• Employers can contribute up to $5,250 per year tax-free (IRS limit).
• Reimbursement often requires maintaining a minimum GPA or remaining with the company for a set time after completing your degree.

Military Student Aid

If you’ve served in the U.S. Armed Forces, the Department of Veterans Affairs (VA) offers substantial education benefits through:

• The Post-9/11 GI Bill
• The Montgomery GI Bill (Active Duty and Selected Reserve)
• Vocational Rehabilitation & Employment (VR&E) programs

These benefits can help cover tuition and fees, housing stipends, books and supplies, and career counseling.

Some VA benefits can also be transferred to spouses or dependents, expanding access to education for military families.

For more details, visit vs.gov/education to compare available programs and determine your eligibility.

Q: What’s one the best resources a prospective PhD student can use to find funding opportunities?

Dr. Dortch: Funding opportunities are sometimes discipline specific. Talk to faculty within the department in which you are applying to ask about funding opportunities or the admissions team at the institution in which you are seeking funding. They are best equipped to discuss with you the types of opportunities available to you. A good place to start is the website of the university in which you’d like to apply.

Q: Are there any lesser known resources out there that graduate students often miss and are actually worth spending some time looking into? 

Dr. Dortch: Yes, there are lesser known resources. Depending on the field of study and research interests, students should research their field specific association websites and look for scholarships and grants there. For example, for those interested in library sciences, try the American Library Association. Those interested in education should go to the American Education Research Association. If you are interested in the advancement of women and girls, try the American Association of University Women. I have mentioned only a few but there are plenty of associations that offer scholarships and grants to students at different stages of their academic journey.

Q: If a student realizes that their program does not offer any assistantships, what can they do to make sure they can afford to enter school and earn their degree?

Dr. Dortch: In the instances where students do not receive assistantship, they will have to find external funding sources. A good place to search is by beginning with their local librarian. Librarians are aware of and have access to a host of databases that may cover the types of grants, scholarships, and other funding opportunities.

In addition, many employers offer tuition assistance programs. These programs may have parameters such as one needs to be employed full-time or be employed for a particular length of time to take advantage. I have seen many students secure employment at institutions and then take advantage of the tuition benefit to further their career. When I was a graduate student, my non-profit employer paid for one class per semester for me, so as a result, I acquired fewer loans.

Q: What advice would you give to PhD and other doctoral students who decide to take out loans for school? Are there more financially friendly paths than others? Where should they look to weigh their options?

Dr. Dortch: Remember that while taking out loans for your education is an investment in yourself, try not to take out more than you actually need. Create a budget to determine what your expenses might be and incorporate some of the hidden expenses that doctoral students do not account for such as the cost of membership fees for associations and conferences registrations, travel (in a post-COVID situation), technology, and other research associated costs.

Another possibility, if your particular program allows, is attending school part-time or selecting a program that would allow you to keep your full-time job. While utilizing this option may lengthen your time to degree, doing so will allow you to take out fewer loans and potentially provide you with more financial freedom in the end.

Q: If a student is not offered enough institutional aid or receive the scholarships they were hoping, should they try to defer and try again next year?

Dr. Dortch: This is a tough one. Students aren’t usually privy to all of the reasons that they were not offered enough aid. Sometimes it will depend on how the students fared against the other candidates and other times, the institution just is not as competitive when it comes to funding. In a COVID era, institutions are definitely tightening their belts where funding is concerned. Deferring a year may or may not change your status or the funding allotted to your application.

I would suggest that students interview with multiple schools and weigh your offers before making a decision. Honestly, sometimes this requires that a student attend an institution that needs you more than you need them. That means attending an institution that might have a strong reputation but located in a place that may not be in your top five places to live. Therefore, sometimes to get a quality education at an institution that provides the most funding, one may have to sacrifice the comforts of home. So, if you are able to, apply broadly.

Pay attention to the news. Who knows what Dr. Jill Biden may do with her platform. Fellowships and grants can come from unexpected places.

Q: Are there mistakes that you’ve seen students make in the past when it comes to applying for or using financial aid? If so, how can future doctorate students avoid making those same missteps?

• Mistake #1: Waiting too long to apply for financial aid. Students will often miss priority deadlines because they have neglected to complete the FAFSA early.
• Mistake #2: Not asking for enough money. Even if a student receives funding and sometimes that funding is not enough, pay attention to whether or not the funding is for nine or 12 months. If your funding package is for nine months, you may have to take out loans for the summer, so make sure that you get enough in loans to cover your summer expenses.
• Mistake #3: using financial aid for expenses that are not school related. A friend of mine used their financial aid to purchase a washer and dryer for their parents and they did not live with their parents. While a washer and dryer is not the same as spending the money on a vacation, try to use the money for expenses that support your needs.

Q: Beyond tuition, what kinds of expenses out there should our readers plan to encounter when entering and completing a doctoral program?

Students can expect a host of expenses that may supplement a student’s education that university websites do not post. For example, doctoral students are required to conduct research and there are associated costs to conducting independent research such as travel costs, food costs, incentives for participants, technology costs, transcription service fees. Then once the data is collected and analyzed, there are costs associated with presenting that research to the masses such as conference registration fees, association membership fees, and transportation and lodging expenses. Most students submit their work locally, regionally, nationally or internationally and depending on what region of the world they intend on presenting their work dictates how expensive those particular expenditures may be. Students have to account for the cost of books, and course related fees.

One last thing to consider is that ultimately the students have some agency in how long it takes to graduate. Meaning, once students have completed their courses, passed their comprehensive exams and defended their dissertation proposal, the student determines how long the individual research process takes. During this time, students may have to take out loans in an effort to maintain student status. Be careful during this time because this is the moment where many of those costs that I mentioned earlier begin. It is easy to get off track, lose momentum, and stop your education altogether. Just remember to stay the course and remind yourself that you are almost done.