Funding Your Graduate Degree
Earning a graduate degree is one of the most meaningful investments you can make in your career. We want to make sure cost is never the reason you don’t take the next step. There are multiple ways to fund your degree, and many of our students combine more than one. Explore your options below, and reach out to us if you’d like help thinking through what makes sense for your situation.
Cost at a Glance
Our online graduate programs are charged on a per-credit basis. Most students in our program take 1-2 courses per semester, which translates into roughly $2,200-$3,300. A large majority of our students offset this investment with employer support, but for those who don’t, there are other options.
| Cost Per Credit | Total Program Cost | |
| Master’s Degrees (excluding Master of Science: Electrical and Computer Engineering-Power Engineering program) | $1,100 Wisconsin Residents receive a $100 automatic scholarship. | Non-Wisconsin Residents: $1,100 X 30 Credits = $33,000 Wisconsin residents: $1,000 X 30 Credits = $30,000 |
| Master of Science: Electrical and Computer Engineering-Power Engineering | $1,600 | $1,600 X 30 Credits = $48,000 |
| Capstone Certificates (excluding Power Conversion and Control) | $1,100 Wisconsin Residents receive a $100 automatic scholarship. | Non-Wisconsin Residents: $1,100 X 9 Credits = $9,900 Wisconsin residents: $1,000 X 9 Credits = $9,000 |
| Power Conversion and Control Capstone Certificate | $1,600 | $1,600 X 9 Credits = $14,400 |
Funding Options
Many of our students don’t rely on just one funding source. A common approach is combining employer reimbursement with a payment plan or pairing a scholarship with federal financial aid. If you’re not sure where to start, we can help you think through what combination makes the most sense for your situation.
Contact our team — we’re happy to walk through your options with you.
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Employer Tuition Reimbursement
Employer tuition reimbursement is how 93% of our students fund their degrees. Many organizations have assistance programs already in place, even if they aren’t widely advertised. Here’s how to pursue it:
- Know your worth. Reflect on your contributions and how more education strengthens your impact.
- Research your company’s policy. Many organizations already have tuition programs, you just need to ask.
- Create a simple proposal. Outline costs, timeline, and how you’ll manage your workload.
- Explain how your new skills will directly benefit your role or department. Most coursework in our programs can be applied directly to your work.
- Schedule the conversation. Meet with your manager or HR and present your plan confidently.
- Follow up. Send a summary email and show appreciation for their consideration.
Download our Employer Conversation Guide — a two-page resource you can share directly with your HR department or manager.
Scholarships & Grants
Scholarships are another funding source that students use to cover their tuition costs.
Campus Scholarships UW–Madison’s Wisconsin Scholarship Hub (WiSH) is a great starting point for finding external scholarships you may be eligible for. Deadlines vary, so it’s worth exploring early in your application process and throughout your student experience.
The Wayne Pferdehirt Memorial Scholarship is available to students enrolled in the Engineering Management master’s degree program. Check this page for eligibility requirements and deadlines.
Wisconsin residents are eligible for a $100 per credit scholarship for all graduate programs outside of the Electrical and Computer Engineering-Power Engineering MS and Power Conversion and Control Capstone Certificate.
Many national engineering and professional organizations offer scholarships for graduate students, including those studying online. Groups such as SAE International, the Project Management Institute (PMI), and discipline‑specific societies (like ASME, IEEE, and AIAA) support students pursuing advanced technical degrees. You may also find opportunities through industry associations, foundations, or employer‑affiliated programs. Because application cycles and eligibility vary, we encourage you to explore organizations connected to your field, career interests, or professional memberships.
Federal Financial Aid / Student Loans
Graduate students may be eligible for federal student loans by completing the Free Application for Federal Student Aid (FAFSA). Please note that students enrolled in the online engineering graduate programs are ineligible to receive tuition remission the tuition remission benefits associated with Research or Teaching Assistantships.
For help navigating your options, contact the UW–Madison Office of Student Financial Aid.
Veterans & Military Benefits
If you are a veteran, active-duty service member, or military dependent, you may be eligible to apply education benefits toward your degree. Applicable programs include the GI Bill®, Yellow Ribbon Program, and MyCAA, among others.
UW–Madison University Veteran Services is your best first step. Their team can help you determine eligibility, walk you through the application process, and connect you with additional financial aid resources.
Out-of-Pocket / Self-Pay
Paying directly is always a straightforward option. Learn more about accepted payment methods at bursar.wisc.edu. For more information on the BadgerPay payment plan program, a payment plan that provides a convenient option for paying the student account balance through regularly scheduled payments visit this website.
I am fortunate to have an employer that fully supports continued education through a tuition reimbursement program, which made pursuing my degree both feasible and financially manageable. My degree has impacted my career in several meaningful ways, including significantly strengthening my data analysis, synthesis, and information‑sharing skills. As a result, I am now regularly relied upon as a data catalyst for my team—helping turn complex information into actionable insights. The program also expanded both my skill sets and my confidence to pursue a broader range of advancement opportunities.
Walter Schlesser, Senior Quality Engineer at John Deere, MEDA Class of 2024
Frequently Asked Questions
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Can my employer pay UW-Madison directly?
Yes, your employer can pay via Purchase Order, voucher, or direct billing. Contact us to set this up before your semester begins.
Will employer reimbursement affect my financial aid eligibility?
It may, depending on your specific aid package. We recommend contacting the UW–Madison Office of Student Financial Aid to understand how your funding sources interact.
What if my employer only covers part of the cost?
Many students combine employer reimbursement with other options — scholarships, payment plans, or federal loans — to cover the remaining balance. See the funding options above or contact us for guidance.
Is employer tuition reimbursement taxable?
Employers can provide up to $5,250 per year in tuition assistance tax-free under current IRS guidelines. Amounts above that threshold may be subject to income tax. We recommend consulting your employer’s HR department or a tax advisor for specifics.
Can I combine multiple funding sources?
Yes — and many students do. There’s no restriction on layering employer reimbursement, scholarships, and other financial aid, though some sources may affect your eligibility for others. Contact us or the Office of Student Financial Aid for guidance.
When are scholarship deadlines?
Deadlines vary by scholarship. Check the Wayne Pferdehirt Scholarship page for program-specific awards, and explore WiSH for external opportunities.
What if I'm only taking one course at a time — does that affect my options?
It may affect federal financial aid eligibility, as you typically need to be enrolled in at least 4 credits to qualify for loans. Employer reimbursement, scholarships, and self-pay are generally available regardless of enrollment intensity. Contact us with your specific situation or visit the Financial Aid eligibility page to learn more.
How do I apply for federal financial aid?
Contact the Office of Student Financial Aid for next steps.
Can I receive tuition remission as an RA or TA?
Please note that students enrolled in the online engineering graduate programs are ineligible to receive the tuition remission benefits associated with Research or Teaching Assistantships.
Questions About Paying for Your Degree? We’re Here to Help.
Whether you’re just starting to explore your options or you’re ready to enroll, our team can help you find a path that works at studentservices@interpro.wisc.edu.
