Question: What is financial aid?
Financial aid is money that is given, paid, or loaned to you to help pay for your graduate education.
Financial aid can come from federal, state, school, and private sources to help you pay for your graduate education.
Question: What are some types of financial aid?
A grant is a form of financial aid that doesn’t have to be repaid.
A scholarship is payment awarded on the basis of academic merit, talent, achievement, or a particular area of study.
A work-study job allows a student to work part-time to pay for school.
A loan is money borrowed that must be repaid at a later date with interest.
Scholarships are free money that doesn’t need to be repaid. They are awarded by universities/colleges, employers, individuals, private companies, nonprofit organizations. Some scholarships are merit or financially based. Merit means you met or are exceeding certain expectations such as your grades.
Library employees may be offered scholarships from their institution or from their Friends Foundation.
The ALA Scholarship Program offers many general scholarships and specialized scholarships (e.g. youth services, school media specialists, and members of underrepresented groups).
State library agencies, national and state library associations, local libraries, academic institutions, and foundations who give some form of financial assistance for undergraduate and/or graduate education programs in library and information studies. Look for the ALA’s annual directory (2019-2020) here: Financial Assistance for Library & Information Studies Directory (FALIS)
American Library Association: You may also want to check out FastWeb, an initiative of Monster.com, which claims to search 1.3 million scholarships worth over $3 billion, or the Scholarship Links on the Become a Librarian! Site.
There are two major scholarships for BIPOC MLIS students:
1. American Library Association's Spectrum Scholarship--In addition to funds, this scholarship includes travel to and attendance at an ALA annual conference. Apply September 1-March 1 for the following academic year. As of 2023, at least one MLIS program, University of IIllinois-Urbana Champaign, offers a tuition waiver to Spectrum Scholars.
2. Association of Research Libraries' Kaleidoscope Scholarship--Specifically for BIPOC students who are considering academic librarianship, this scholarship includes funds as well as a leadership symposium to prepare scholars for the academic job search, an academic library site visit, a mentorship program, and professional development. Apply in the Spring for the following academic year. See the website for application dates.
Loans: money that's borrowed and will need to be repaid with incurred interests.
There are many opportunities for funding your education, however, you’ll need to be familiar with where to locate these resources. Secondly you’ll need to learn the various types of options available from these organizations.
We’ll let's start with the first resource Free Application for Federal Student Aid (®FAFSA). For graduate and professional students they offer a Master of Promissory Note (MPN) to repay loan(s) and any accrued interest and fees to the U.S. Department of Education.
If you are a non US citizen, FAFAS has some opportunities, for more information visit their website.
Aid for Military Families
There are special aid programs or additional aid eligibility for serving in the military or for being the spouse or child of a veteran.
Learn About Aid for Military Families
Aid From Your State Government
American Library Association: ALA also creates the annual directory, Financial Assistance for Library and Information Studies (PDF) , which documents state library agencies, national and state library associations, local libraries, academic institutions, and foundations that give some form of financial assistance for undergraduate and/or graduate education programs in library and information studies. You may also consider contacting the state library or regional association directly for further information.
Other than federal aid, you might be eligible for financial assistance from your state. Contact your state grant agency for more information.
Aid From Your College or Career School
Many schools offer financial aid from their own grant and/or scholarship funds. Find out what might be available to you:
Visit your school’s financial aid page on its website, or contact the financial aid office.
Ask at the department that offers your course of study; they might have a scholarship for students in your major.
Fill out any applications your school requires for its own aid programs, and meet your school’s deadlines.
American Library Association: It's a good idea to contact individual graduate library education programs for information about specific financial assistance opportunities available at that institution including scholarships, work programs, and financial aid . Directory of ALA-Accredited Programs
American Library Association. (2021). Financial Assistance for Library & Information Studies. http://www.ala.org/educationcareers/libcareers/financial
Believes, L. (n.d.). Introduction to Financial Aid Lesson Plan. https://www.louisianabelieves.com/docs/default-source/course-choice/introducation-to-financial-aid-lesson-plan.pdf?sfvrsn=d4c0971f_4
Cook, S. (2018). Navigating Graduate School: Resource Guide for Undocumented Students. Santa Clara Law Digital Commons. https://www.thedream.us/wp-content/uploads/2018/08/Navigating-Graduate-School_-Resource-Guide-for-Undocumented-Stude-1.pdf
United States Department of Education. Federal Student Aid. (n.d.). Types of Financial Aid. https://studentaid.gov/understand-aid/type