Scholarships, Grants, and Fellowships

The awards listed below represent a small selection of what master’s in health administration students may be able to find. There are a number of professional and student organizations that offer scholarships to members to further their education, as well as awards for regions or schools.

In most cases, you will not be required to repay any part of what’s awarded to you through these opportunities. However, in your searching, you may come across fellowships that have repayment stipulations if you do not complete the program they’re awarded to fund.

Health administration fellowships are often designed for those who already have their master’s degree. These opportunities provide you with hands-on experience working in healthcare.

Grants are usually awarded to schools or academic departments to fund scholarships or the degree program as a whole. However, you may come across grant opportunities that will award you the funds you need to complete a research project or further education if you plan to pursue certification in your field. Applying for grant money is highly competitive, and it may take time for funding to come through. Eligibility requirements are strictly followed; talk to your school’s financial advisor to determine if this is something you should pursue.

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Corris Boyd Scholars Program

Amount
$40,000
Deadline
April 2016

This scholarship is open minority students accepted to or enrolled in an AUPHA-member school. Applicants must have at least a 3.0 GPA in all undergraduate classes. Along with their application, they must submit their transcripts, resume, GRE or GMAT scores, a personal statement and recommendation letters.

Albert W. Dent Graduate Student Scholarship

Amount
$5,000
Deadline
March 31, 2016

This award is open to minority students in their final year of a health management graduate degree, who can demonstrate financial need, have not previously won this award and are U.S. or Canadian citizens. Applicants are not required to be student members of the American College of Healthcare Executive, but preference is given to those who are.

Foster G. McGaw Graduate Student Scholarship

Amount
$5,000
Deadline
March 31, 2016

MHA students enrolled in their final year of full-time study may apply for this scholarship. Applicants must be able to demonstrate their financial need and prove U.S. or Canadian citizenship. They do not need to be members of the ACHE, though that is preferred, and they may not be past recipients of the award.

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Renewable
Minimum GPA

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Loans

There are two types of loans you can apply for to fund your master’s in health administration: private and federal. Most of these loans are unsubsidized, and you begin to earn interest as soon as the money is used. This interest is subject to repayment while you’re in school. However, if you decide not to pay the fees until after earning your degree, that amount will be added to the total you borrowed.

Private loans are obtained through banks or lending agencies. They are not need-based; loan amounts are granted based on a credit check. If you have low or bad credit, you may need someone to cosign your loan agreement.

Most who needed to take out loans to pay for their bachelor’s agree are familiar with the FAFSA process. For graduate school, you file as an independent student; you’re not required to include your parents’ financial information on the form. This often qualifies you for higher awards. Below is a table that outlines the types of graduate loans you may be offered.

Loan Comparison Chart

Stafford
Eligibility Requirements No previous federal loan defaults; Must attend school at least half time
FAFSA Yes
Credit Check No
Amount Available Up to $20,500/year; $138,500 for entirety of degree
Interest Rates Tied to 10-year treasury note + 3.6%; Maximum of 9.5%
Fixed Rate/Subsidized Yes/No
Repayment 6 months after leaving school
Income-based repayment Yes
Forgiveness After 20-25 years; 10 years for public servants
Graduate Plus
Eligibility Requirements Must attend school at least half time; acceptable credit
FAFSA Yes
Credit Check Yes
Amount Available Full cost of graduate study, including living expenses
Interest Rates Tied to 10-year treasury note + 4.6%; maximum of 10.5%
Fixed Rate/Subsidized Yes/No
Repayment Deferred until 6 months after school or after attendance drops below half time
Income-based repayment Yes
Forgiveness After 10 years if employed in nonprofit or government
Perkins
Eligibility Requirements Must qualify as low-income student; income cut-off varies by school
FAFSA Yes
Credit Check No
Amount Available $8,000/year; varies according to college
Interest Rates 5%
Fixed Rate/Subsidized Yes/Yes
Repayment 9 months after leaving school
Income-based repayment Yes
Forgiveness Various Cases
Private
Eligibility Requirements Based on credit
FAFSA No
Credit Check Yes
Amount Available Varies
Interest Rates Varies
Fixed Rate/Subsidized No/No (Usually)
Repayment Immediately (Generally)
Income-based repayment No
Forgiveness No

Teacher, Graduate or Research Assistant Jobs

Many schools allow graduate students to apply for positions as teacher or research assistants to professors. Though reimbursement will differ from school to school, many TA and RA roles give students a tuition break and a regular paycheck or monthly stipend.

In return for lowering the cost of tuition, TAs and RAs are required to help with preparing or leading classes, grading papers and helping the professors conduct research for their scholarly work. These are usually part-time jobs, and you will be required to fulfill your TA or RA responsibilities while still attending class and completing your coursework.