Scholarships and Grants for Masters of Psychology Programs

Earning a master’s degree in psychology is a great way to advance in your career, making it possible for you to make more money and quality for better psychology-related jobs. However, the cost of a master’s degree program can deter some students from going back to school, as graduate programs can cost thousands of dollars every semester. Luckily, with scholarships and grants, you can go to school without spending much of your own money or relying on students loans.

Psychology Scholarships

Applying for scholarships is a great option for students because you don’t have to meet strict financial requirements and once you receive the money, it doesn’t have to be repaid, as is the case with student loans. Scholarships are most commonly available for students directly fromĀ  colleges, but you can also find them from outside organizations. You can start your scholarships search with the following groups: the American Psychological Association of Graduate Students, the James F. Byrnes Foundation, the American Psychological Association, and Alpha Delta Pi.

Psychology Grants

Like scholarships, grants do not need to repaid after graduation, making them an attraction option for students. Grants are given to students who show financial need, so you can earn this kind of money even if you don’t have perfect grades, a special talent, or essay-writing skills. As an undergraduate student, you may have received the Pell Grant, a federal grant available to all students who qualify, but as a graduate student, you’ll have to look for other sources to fund your education. Start your grant search by checking out the fund available through the Society for Industrial and Organizational Psychology, the Office of International Affairs of the American Psychological Association, and the Asian American Psychological Association.

Other Funds for Masters of Psychology Students

If you’re already working in the field of psychology and thinking about going back to school for your advanced degree, check out if there are any tuition assistance programs offered to employees to help pay for school. You can also look at student loan options; while this money does have to be repaid after you graduate, students loans are often available at low interest rates and payments can be deferred until after you graduate and find a job.

Top Psychology Masters Degrees

To become a psychologist, a doctorate degree is required. But the masters degree in psychology is a necessary step on this educational path. A masters degree in psychology is also a stopping point for many other careers, including social worker, school counselor, industrial/organizational psychologist, and more. The schools listed below offer graduate-level degrees in psychology.


Students can earn an MS in Psychology from Walden University with various specializations. A specialization in Leadership Development & Coaching is offered that will expand your knowledge of human dynamics in contemporary, international, and virtual organizations. The specialization in Social Psychology helps you to gain a broad understanding of the social factors that affect human development and social interactions. Specializations are also offered in health psychology, program evaluation, organizational psychology & development, organizational psychology & nonprofit management, psychology of culture, media psychology, and more.
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The MS in Psychology from University of Phoenix will prepare you for a career in mental health and other human services in health care organizations. An MS in Industrial/Organizational Psychology will prepare you for a rewarding position that is relevant to any business environment. University of Phoenix is ideal for students who are working or need the convenience of a flexible schedule.
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Kaplan offers a few different specializations within its main MA in Psychology program. An MA in Psychology with a specialization in Addictions will prepare you to help clients overcome addictions and move towards recovery. An MA in Psychology with a specialization in Applied Behavioral Analysis prepares students to meet the needs of clients who are developmentally disabled. The MA in Psychology with a specialization in Organizational Design and Development will help you gain the skills needed to develop effective management and organization strategies.
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An MS in Industrial and Organizational Psychology from Grand Canyon University prepares students to become practitioners, researchers, and teachers in the field of psychology. The MS in General Psychology degree develops students that have effective critical leadership qualities. Students will be able to better their communities and business they serve with the skill sets that they learn. This degree teaches students advanced skills in research, statistics, analytical reasoning, and critical thinking.
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