Are you an engineering student looking to get a scholarship to pursue graduate studies and fulfill your career goals? In this article, we’ll be covering some of the best Master’s of Engineering scholarships. You may find that some of them are suited for you.
Prospective students who are planning to enroll at a graduate school soon might want to look through the different scholarships offered for their graduate degree. Do not be afraid to step forward and apply to any of the scholarships below and advance your education. Read on, and see if one of the Master’s of Engineering scholarships is right for you.
What Is a Master’s of Engineering?
A Master’s of Engineering is a graduate study program that goes beyond what you learn in an undergraduate degree. Graduate engineering students learn advanced concepts, techniques, and leadership skills to prepare them for high-level engineering careers.
How Much Does a Master’s of Engineering Cost?
According to the National Center for Education Statistics, the average cost of a graduate degree is $18,416. However, the tuition cost for your Master’s of Engineering will depend on several factors, such as the type of program and the type of academic institution you choose to enroll in.
Public colleges and state universities will often have lower rates than private universities, while some schools may also charge other fees such as application fees or registration fees. Full-time or part-time graduate students can also choose to enroll in online programs.
Master’s of Engineering Salary: How Much Can You Earn?
A Master’s of Engineering degree can help you land a high-paying job as an engineer. According to PayScale, the overall average annual salary of a Master’s of Engineering degree holder is $94,000 per year. A master’s degree in engineering is one of the highest-paying graduate degrees.
Is a Master’s of Engineering Worth It?
A Master’s of Engineering degree is worth it as it will give you a leg up when it comes to salary negotiations. It will also open more opportunities for you and help fulfill your career aspirations. A graduate degree course is an additional academic achievement in your portfolio that will bring you closer to succeeding in your career.
A Master’s degree can be a large expense, but you should remember that scholarship opportunities are abundant, from partial scholarships to fully funded ones. Some scholarships are designed to help underrepresented students gain access to education, while others are open to anybody.
How to Pay for Your Engineering Graduate Degree with Master’s of Engineering Scholarships
A Master’s of Engineering scholarship is financial assistance from private or non-profit organizations, or the school itself. It covers your expenses in your continuing studies in the field of Engineering, and it can be fully funded or partially funded.
These opportunities may vary from need-based, performance-based, or merit-based scholarships. You can usually find a variety of scholarships, their details, eligibility requirements, and resource guides through scholarship websites. Here, we will discuss a few of these Engineering scholarships and how to pay for your engineering graduate degree.
Best Master’s of Engineering Scholarships: Overview
| Organization | Scholarship Name | How Much It Covers |
|---|---|---|
| American Society of Mechanical Engineers (ASME) | ASME Mechanical Engineering Scholarships | $1,000 up to $13,000 |
| Association for the Advancement of Cost Engineering (AACE International) | AACE International Scholarship | up to $2,500 |
| Cornell College of Engineering | Master of Engineering Committee (MEC) Scholarships | $20,000 up to full tuition |
| GEM Fellowship | GEM Fellowship Program | Varies |
| The Minerals, Metals & Materials Society (TMS) | AIME Henry deWitt Smith Scholarship | $2,000 |
| The Minerals, Metals & Materials Society (TMS) | TMS International Symposium on Superalloys Scholarship | $2,000 |
| National Society of Professional Engineers (NSPE) | George B. Hightower, P.E. Fellowship | $3,000 |
| New England Water Works Association (NEWWA) | NEWWA Scholarships | $1,500 up to $5,000 |
| SME Education Foundation (SMEEF) | SME Education Foundation Scholarship | Varies |
| Society of Women Engineers (SWE) | SWE Scholarships | Varies |
Best Master of Engineering Scholarships: In Detail
ASME Mechanical Engineering Scholarships | American Society of Mechanical Engineers (ASME)
ASME grants several scholarships to those who wish to pursue educational programs in the mechanical engineering field or closely related fields of science. They offer scholarships ranging from $1,000 up to $13,000 to those pursuing an education at the undergraduate or graduate degree levels.
Applicants must be ASME students and log in to the online application system to apply for the scholarship. They must also be an enrollee in an ABET-accredited program full-time for the following entire academic year. The applicant submits one application form only for any possible scholarships that they may be qualified for under the ASME offerings and must apply every year.
AACE International Scholarship | Association for the Advancement of Cost Engineering (AACE International)
The AACE International scholarship is for qualified foreign students and North American students pursuing programs of study related to cost engineering or cost management. Scholarship decisions are based on academic merit, and steps are taken to ensure each applicant receives fair and full consideration.
North American and international students have two distinct scoring and ranking criteria to ensure the fairness of ranking between peers. The AACE International Education board scholarships are available in amounts of up to $2,500 for both domestic and foreign students. The awardee can use his scholarship on the first term of the following academic year.
Master of Engineering Committee (MEC) Scholarships | Cornell College of Engineering
The Cornell College of Engineering awards scholarships from $20,000 to full tuition coverage to outstanding applicants of their Master’s of Engineering degree program. The scholarship is merit-based and covers full tuition. You might also be able to qualify for a fellowship opportunity to cover your education costs.
All Master’s of Engineering applicants get an automatic consideration for their scholarships without requiring any extra application. Applicants are encouraged to have their application materials on file before February 1 for the following academic year. Those who submit late may still be eligible, but they may get limited coverage depending on the availability of funds.
GEM Fellowship Program | GEM Fellowship
The GEM fellowship program offers STEM scholarships to master’s and doctoral students enrolled in accredited engineering and science institutions. The objective is to show the advantages of having higher degrees within the industry. The scholarship covers the tuition fees and provides a stipend along with engineering summer work experiences.
Members of underrepresented groups are encouraged to apply, including those who are Native American, African American, or Hispanic American. An applicant must be a full-time student, a senior, or a graduate of an accredited engineering or computer science program pursuing further study. They must have a GPA of 2.8/4.0 and must agree to intern with a GEM employer for two summers.
AIME Henry deWitt Smith Scholarship | The Minerals, Metals & Materials Society (TMS)
There are two scholarship awards worth $2,000 each for recipients. The first is for graduate students who major in minerals, metals, or materials engineering. The scholar also receives $375 to cover his travel cost to the TMS Annual Meeting and Exhibition to accept the award.
The AIME Henry deWitt Smith Scholarship is another scholarship by the TMS. Its purpose is to help advance mineral industries by offering more opportunities in the arts and sciences. The scholarship assists outstanding students in the mining, metallurgical, and petroleum departments of the leading colleges and universities offering degrees in mineral engineering.
TMS International Symposium on Superalloys Scholarship | The Minerals, Metals & Materials Society (TMS)
The Minerals, Metals & Materials Society offers two scholarships of $2,000 for the awardees. The scholarships are for eligible students with majors in metallurgical or materials science and engineering at the undergraduate or graduate level. Closely related fields that deal with technologies related to superalloys are also accepted.
The presentation of the awards is in conjunction with the Materials Science and Technology conference. Scholarship recipients must attend the conference to accept it and are provided travel funds of up to $250.
George B. Hightower, P.E. Fellowship | National Society of Professional Engineers (NSPE)
The NSPE Education Foundation offers various Engineering scholarships for US-based students studying at all degree levels. The scholarship award depends on the available NSPE funds at the time of application. The George B. Hightower P.E. Fellowship is a yearly award for undergraduate or graduate students currently enrolled in an ABET-accredited engineering program.
Applicants must be NSPE Members or Student Members to be eligible scholarship recipients. They must also be a US citizen. An amount of $3,000 is awarded in one disbursement to the recipient at the beginning of the fall semester.
NEWWA Scholarships | New England Water Works Association (NEWWA)
The New England Water Works Association annually awards up to $20,000 to worthy students pursuing various levels of degrees. It is an annual scholarship for engineering students and those taking advanced studies. The application deadline is April 1st each year, prior to the beginning of the academic year in September.
Graduate and undergraduate students who have been accepted or are currently attending appropriate college or university programs are eligible to apply. Applicants must be NEWWA members and must be living in or attending an academic institution in New England. Preference is for candidates whose programs of study are related to the waterworks industry.
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SME Education Foundation Scholarship | SME Education Foundation (SMEEF)
SME Education Foundation awards scholarships for students pursuing various degrees in manufacturing or engineering, including graduate degrees. The foundation is known for awarding scholarships to manufacturing and engineering students who wish to pursue advanced degrees.
The SME Education Foundation scholarship requires applicants to be Canadian or US citizens or permanent residents. They must also be intending to pursue or be currently pursuing a master’s or doctoral degree in manufacturing, engineering, or related courses of study at an accredited academic institution in the United States or Canada.
SWE Scholarships | Society of Women Engineers (SWE)
SWE STEM scholarships are available for female graduate students or those who identify as women. The woman must also be pursuing an ABET-accredited undergraduate or graduate program in the field of engineering and computer science. SWE disbursed almost 260 scholarships in 2020, reaching a value of more than $1,000,000.
The scholarship is available globally. Applicants are only required to complete a single application form for all scholarships for which they are eligible. The program awards scholarship funds to female students in varying amounts, from $1,000 to more than $6,000.
How to Pay for Your Engineering Graduate Degree Without Scholarships: Alternative Financial Aid Options
On top of the many scholarship programs for Master’s of Engineering degree students, there are also other funding opportunities that you may consider. There is no reason to postpone your graduate studies and dreams because of financial worry. Listed below are some of the alternative options to pay for your engineering graduate degree aside from scholarships.
Get Sponsored by an Employer
Companies that wish to boost their company’s overall skill set without hiring more employees tend to consider sponsoring the academic progress of their employees. In this case, you may have access to tuition reimbursement funds. The sponsorships can range from partial to full sponsorships.
Apply for Grants
Many types of grants are available for aspiring graduate students of educational programs. The Federal Work-Study Program, a federal government agency, provides part-time jobs to graduate students with financial needs. The student does a part-time job for the government in exchange for covering their tuition fees. This may even include a monthly living stipend.
Work for the Graduate School
Taking up research or teaching assistantships generally helps cover at least part of your cost of attendance, along with a periodic stipend as payment for research and classroom instruction. Assistantships are often offered by individual departments, just like scholarships.
Once you know the specific field you want to study in, finding faculty members in the field who could be open to taking on an assistant student should be one of your next steps in your school search.
Study Abroad
Although studying abroad makes one think of expensive tuition fees and extravagant schools, it can actually be an economical choice. Graduate studies in the US cost thousands of dollars per year, but several other countries offer master’s degrees at little to no cost. Western Europe and Scandinavia are good areas for money-smart foreign students.
Work Before You Study
If you’re not sure of your decision to pursue graduate studies and the financial costs that come with it, consider working first. Put in the time to gather some experience working in your field of study. Through this, you’ll be able to get a better idea of the value of a Master’s of Engineering degree and the exact field you want to specialize in.
Should You Apply for Master’s of Engineering Scholarships?
Yes, you should apply for Master’s of Engineering scholarships. There is a long list of scholarships available to engineering students, and it never hurts to apply. Gaining a master’s degree is a great way to move forward in your career. Full-time graduate students get more out of their program of study if they don’t have to focus as much on finances.
Master’s of Engineering Scholarships FAQ
Is it hard to get Master’s of Engineering scholarships?
Yes, it can be hard to get a scholarship for a master’s degree, as the competition can be stiff. If you have strong academic transcripts, recommendation letters, and a passion for careers in engineering, you stand a good chance. Many scholarships aim to help underrepresented groups. If you are a woman, consider applying for scholarships especially for women.
Are fully-funded Master’s of Engineering scholarships hard to find?
Yes, a low percentage of students get full-ride or fully-funded scholarships. However, with the right academic background, letter of recommendation, and thorough research, you can always increase your chances of getting a fully-funded scholarship in Engineering. Besides, you may consider applying for additional scholarships to get sufficient funds to cover the full cost.
Can you get a Master’s of Engineering scholarship with a different bachelor’s degree?
A student is usually free to apply for a scholarship no matter their bachelor’s degree. Of course, having it be related to engineering is a good thing, but the next best thing is having an education in a STEM field of study or a technology degree. If your educational program has no connection at all, it may be more difficult to land a scholarship.
Does a Master’s of Engineering scholarship require work experience?
Getting a scholarship for your Master’s of Engineering program does not require work experience. It can be beneficial because immersing yourself in your field of study at a professional level not only makes you more likely to bag scholarships, it also helps prepare you for your Master’s of Engineering degree.
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