Graduate student financial aid: options for funding your MSIM

There are many compelling reasons to pursue a master’s degree. A graduate degree can facilitate professional advancement and increase income. It can also deepen expertise in a field of interest and provide a sense of personal accomplishment.

A Master of Science in Information Management (MSIM) from the University of Washington (UW) can enhance your qualifications for high-demand data-driven jobs while developing technical skills that are increasingly in demand across the employment spectrum. In short, earning an MSIM degree can prove to be an excellent investment in your career.

Even so, it does still require an investment of both time and money. While no one can reduce the effort needed to complete an MSIM, there are ways to reduce the financial burden. Students at the UW Information School (iSchool) have access to various financial aid resources to help cover the cost of tuition. This article outlines some of the available options.

iSchool merit scholarships and other UW funding opportunities 

The iSchool automatically considers all UW MSIM applicants (residential and online) who apply by the deadline for a limited number of merit-based scholarships. Each scholarship covers up to one year of tuition. Second-year students qualify for scholarships from over 20 endowed funds provided by iSchool partners, including PitchBook and Coalfire. Various scholarships support students based on their backgrounds, financial need, achievements or interests.

All UW graduate students can also apply for additional scholarships and grants, including: 

• UW Graduate School grants, offered through the Office of Graduate Student Equity & Excellence (GSEE)
• Scholarships specifically targeted to UW students 
• UW fellowships and awards

Each scholarship and fellowship has its own application deadline. Review guidelines carefully to ensure you submit your application on time. 

Federal financial aid for graduate students

The primary federal funding available for UW MSIM students to help cover their tuition is federal student loans, which differ from undergraduate loans in several critical ways: 

• They are available in large loan amounts.
  • You may borrow up to $20,500 annually in Federal Direct Unsubsidized Loans.
  • Federal Direct Graduate PLUS Loans are available to students enrolled at least half-time; they cover additional costs not met by other financial aid.
• They are based on the 10-year treasury note and are at a higher interest rate (8.08% for loans disbursed in 2024/25). 
• They are usually not subsidized, which means interest rates begin accruing as soon as funds are disbursed.
• They have different repayment terms than undergrad loans. You can compare federal loan repayment plans here.  

Graduate students must complete the Free Application for Federal Student Aid (FAFSA) to qualify for federal aid. Federal loans are only available to eligible U.S. citizens and permanent residents.

Employee tuition benefit opportunities 

Nearly half of all U.S. employers offer tuition benefits. Employer tuition assistance can be a valuable benefit that helps make your graduate degree journey more affordable. 

There are two primary forms of employer tuition benefits: 

• Tuition assistance: The employer covers tuition costs by paying the university directly.
• Tuition reimbursement: The employee initially pays for their education, then receives repayment from their employer after completing a course, term or the full program. 

Tuition assistance and reimbursement programs vary by employer; check your employee handbook or contact HR to determine your eligibility. When approaching your employer about tuition assistance, prepare to explain why you wish to pursue the UW iSchool MSIM (how it aligns with your personal and professional goals) and how your employer will benefit. Focusing on how earning the degree will make you a more valuable employee is a powerful strategy for increasing your chances of securing support.

External scholarships and grants 

Many private companies, community-based organizations and industry associations offer scholarships for which MSIM students may qualify. In addition to examining the scholarships listed on the UW website, students can use scholarship databases, such as Fastweb, Education USA  and Scholarships.com, to search for funding based on their background, interests and experiences. Many scholarships are specifically earmarked for undergraduates, but there are also numerous opportunities available for graduate students. UW’s Graduate Funding Information Service supports current and future UW students looking for funding. It may take some time to find scholarships for which you qualify and students are advised to start searching and applying for funding early in their graduate school journey — don’t wait until you’ve been accepted.

Have financial aid questions? We’re here to help

Earning an information management master’s degree from the UW is an investment in your future. Financial aid programs, including scholarships, federal loans and employer sponsorship, can help make the program more affordable. 

Are you ready to take the next step? Contact UW’s Financial Aid Office to learn more about funding opportunities. Connect with an enrollment advisor to learn about the online and residential program options and admissions process, or start your application today.