Financial Aid for Psychology Programs
Financial aid can reduce the cost of psychology programs. The mix of grants, loans, scholarships, and employer support varies by school.
$23,351Bachelor's Median DebtCollege Scorecard
$45,846Master's Median DebtCollege Scorecard
$30,197Bachelor's 1yr EarningsCollege Scorecard
Quick Answers
What types of aid are common?
Common options include federal grants, student loans, scholarships, and employer assistance.
Do online students qualify for aid?
Eligible online students may qualify for the same federal aid as campus students.
What should I compare between schools?
Compare total cost, net price, and available aid packages.
At a Glance
- Aid sources: Federal, state, institutional, and employer options
- Eligibility: Depends on school accreditation and enrollment status
- Key metric: Net price is more useful than sticker price
- Online students: Eligible for the same federal aid as campus students
- Employer aid: Some employers offer tuition assistance programs
For a full overview of program options, start with the Psychology Program Guide.
Common financial aid types
| Aid Type | Repayment | Typical Source | Notes |
|---|---|---|---|
| Federal Pell Grant | No | Federal government | Need-based, undergraduate only |
| Federal loans | Yes | Federal government | Fixed rates, income-driven repayment options |
| Institutional scholarships | No | College/university | Merit or need-based, renewal requirements vary |
| State grants | No | State government | Residency requirements apply |
| Employer assistance | No | Employer | May have service commitment |
| Graduate assistantships | Partial | College/university | Available at master’s/doctoral level |
Cost elements to review
When comparing aid packages, ask about:
- Total credits required for the degree
- Mandatory fees (technology, lab, or practicum)
- Scholarship renewal requirements
- Payment plan options
Compare total program cost, net price after aid, and any fees not covered by tuition.
Debt vs earnings by degree level
| Level | Median Debt | 1yr Median Earnings | 5yr Median Earnings |
|---|---|---|---|
| Associate | $19,536 | $25,792 | $38,118 |
| Bachelor’s | $23,351 | $30,197 | $50,706 |
| Master’s | $45,846 | $52,225 | $63,350 |
| Doctoral | $100,774 | $72,533 | $97,361 |
Source: U.S. Department of Education College Scorecard, latest academic year.
Complete the FAFSA as early as possible to maximize aid eligibility. Many institutional scholarships and state grants have limited funding and award on a first-come basis. Online students at accredited schools qualify for the same federal aid as campus students.
Compare related pages:
Back to Online Psychology Degrees Guide: Levels and Licensure
Return to Online Psychology Degrees Guide: Levels and Licensure