05-18-2026
A master's degree is an investment in one's future and a commitment to academic and professional advancement. With an analysis of your financial resources and diligent research, you can afford a master's without draining your coffers or drowning in debt.
Knowing that finances are part of the calculation when considering a master's degree, many graduate schools offer options to make education more accessible, from online programs to scholarships and financial aid. The return on your investment increases when you pursue affordable programs like those offered at the Daniels School of Business.
Backed by Purdue's reputation for excellence and affordability, Daniels School of Business students can reduce the cost of their master's degree through a combination of school-based opportunities and broader funding pathways available across U.S. graduate education. The key is knowing where to look, what to prioritize and when to act.
For many students, merit scholarships are the first and most accessible source of non-loan funding, as they can reduce tuition and, in some cases, are considered automatically during the admissions process. The merit-based scholarship options for graduate students vary according to school and program.
Start with researching options both within and outside your prospective school. For starters, you may try searching for graduate school scholarships or ask your search engine. "Are there graduate school scholarships?" You may find answers such as these.
Next, you may also want to contact the program specialist or recruiter for your intended degree program to find out about school- and program-specific financial support — from need-based to merit-based. It's advisable to ask a few high-value questions early:
For in-residence students, the Daniels School of Business offers merit-based scholarships across its academic departments. Scholarships are awarded based on a range of criteria reviewed by the admissions committee.
To stay informed about scholarship opportunities, application procedures, deadlines and eligibility criteria, prospective Purdue students are encouraged to explore Purdue University's official scholarship and financial aid website. Additionally, for specialized scholarships or assistantships, applicants should also explore opportunities within their intended department or college.
Besides academic scholarships, some schools may also offer specialized or co-curricular scholarships applicable to student-athletes. If you compete as an athlete, ask your program specialist about school- and department-specific opportunities. Stay updated about the student-athlete's scholarships offered at Purdue.
Many full-time students take up part-time work positions on campus that can offset the cost of living and other expenses. Ask your program specialist or academic advisor where such jobs are posted and monitor opportunities while you are still evaluating schools and programs. When you are accepted to the school, you can begin the process of applying for open positions.
Balancing the demands of work while also seeking an advanced degree may seem challenging, but with commitment and planning it can be done. Many graduate students either maintain their full-time job or find employment on their university campus.
The benefits of on-campus jobs include real-world application of knowledge, tangible improvements in work quality, enhanced value to employers, and increased classroom engagement. This dual commitment to work and education amplifies skill development and career advancement. For many students, these roles are valuable not only because they provide income but also because they help build a practical bridge between classroom learning and professional experience.
On-campus paid positions can serve as a source of income for students while also helping them build skills that carry into internships and full-time roles. These experiences often help students strengthen their abilities in many ways:
The Daniels School of Business offers many valuable and resume-enhancing flexible paid internships, allowing students to learn as they earn. These positions provide financial support, covering educational and living expenses while enabling students to gain practical experience.
Beyond internships, you may seek on-campus paid positions. The best part about these positions is that you can apply even before you arrive as full-time students.
One of the most valuable non-loan funding options for graduate students is a department assistantship. At Purdue University, graduate assistantships provide financial support while also helping students build meaningful academic and professional experience through part-time work that supports the university's mission. These roles may involve teaching, research or professional support within a department or university unit, and they can offer benefits such as salary or tuition coverage.
Since these opportunities are managed at the department or unit level, students should connect with their graduate coordinator to learn more about available roles and appointment details.
Explore graduate assistantships at Purdue University
Some graduate programs, such as the Daniels School's online MBA and specialty master's programs, make it possible for professionals to stay employed while pursuing an advanced degree. For these students, employer tuition assistance can be one of the most practical and accessible non-loan funding sources.
Find out more about employer tuition assistance: Strategic guide to tuition reimbursement - Purdue Business
External fellowships and association awards are funding opportunities offered by organizations outside the university, such as foundations, nonprofit organizations, government-backed initiatives and professional associations connected to a student's field of study. Unlike institutional scholarships, these awards often have their own application process and may support tuition, living expenses, research, travel or professional development. They can be especially valuable for students who want to build a broader funding strategy beyond school-based aid, although they are often competitive and may require essays, recommendation letters, transcripts or a clearly defined academic or career goal.
Professional association awards are usually more field-specific and may be smaller in amount, but they can still help reduce out-of-pocket costs. Students interested in exploring these opportunities can begin with Education USA's financial aid database for scholarship listings and country-specific opportunities and Career One Stop's Scholarship Finder, a U.S. Department of Labor resource that helps students search verified scholarship and fellowship options.
The FAFSA, or Free Application for Federal Student Aid, is the form used by the U.S. government and many universities to determine a student's eligibility for federal financial aid and certain campus-based aid programs. For graduate students, it may not unlock the same range of non-loan aid available at the undergraduate level, but it can still be an important step because it is tied to options such as Federal Work-Study and, in some cases, program-specific aid processes. Students can learn more through the Federal Student Aid graduate and professional student guidance website.
When choosing a master's program, you should think not only about the upfront cost of tuition but also about the long-term return on that investment, as it can be instrumental in evaluating how a program's curriculum, career outcomes, industry relevance and professional advantages may help offset the cost of earning the degree over time.
The return on investment (ROI) of a Daniels School of Business master's allows students to offset the cost incurred over the course of earning their degree.
Check out the return on investment — average salaries and job placement — of various programs:
An additional advantage of a Daniels School master's is that many programs are STEM-certified, which allows international students the opportunity for up to three years of OPT in the U.S.
A master's degree need not be fraught with financial worries. The Daniels School of Business at Purdue University offers a range of opportunities that help students pursue their academic dreams without drowning in debt.
If you would like to receive more information about pursuing a business master’s at the Mitch Daniels School of Business, please fill out the form and a program specialist will be in touch!
