Episode•October 3, 2024•17 min

Grad School Without the Debt with Dr. Darla Bishop | Ep. 342

In this enlightening episode of Money Talk With Tiff, host Tiffany Grant engages in a deep conversation with Dr. Darla Bishop on how she navigated through graduate school without incurring any new debt. Dr. Darla Bishop, a recognized authority in public health, shares her invaluable insights and actionable tips for anyone looking to save money while furthering their education. See full episode show notes: https://moneytalkwitht.com/podcast-show-notes/navigating-grad-school/ About Our Guest Dr. Darla Bishop, affectionately known as the FinanSis, is the Founder of Finansis LLC, a boutique consulting firm based in Lansing, Michigan, and the author of How To Afford Everything. Motivated by her own challenging childhood in Detroit, Dr. Bishop’s unique gift lies in her ability to motivate individuals to transcend limiting beliefs about wealth and cultivate a positive financial mindset. She firmly believes that empowering individuals with financial knowledge is pivotal in creating prosperous and resilient communities. Episode Highlights Choosing the Right Program Dr. Bishop emphasizes the importance of selecting a program that accommodates full-time work and schooling. She shares her personal journey of choosing a doctoral program built around working professionals. Working for Your University Discover how working for your university can significantly reduce tuition costs. Dr. Bishop explains how her university's employee benefits could have covered 96% of her tuition. Utilizing Scholarships and Assistantships Learn how to continuously seek out new scholarships, assistantships, and fellowships throughout your academic journey. Dr. Bishop provides tips on maintaining a strong GPA to unlock additional funding opportunities. Covering Additional Expenses From books to travel for conferences, Dr. Bishop discusses the importance of seeking funds to cover non-tuition expenses. She encourages building relationships within your department to tap into available resources. Leveraging Campus Housing and Resident Director Roles Explore the option of becoming a resident advisor or hall director to save on living expenses. Dr. Bishop outlines how these roles can provide free housing and additional stipends. Bonus Tips from Tiffany Tiffany adds her own experiences on how to ask employers for support in attending conferences and other professional development opportunities. Resources Mentioned Dr. Darla Bishop’s website: HowToAffordEverything.com Downloadable email templates for requesting uncommitted funds Connect with Dr. Darla Bishop Website: How to Afford Everything Instagram: @my_finansis Additional Resources: DarlaBishop.com Connect with Tiffany Grant Website: Money Talk With Tiff Social Media: <a...

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Key Takeaways

Choose programs designed for working professionals

Dr. Bishop deliberately selected a doctoral program built around working professionals with evening or online classes

Avoid programs requiring full-time student status if your life setup includes caregiving, existing career, or financial obligations

Evaluate whether your learning style and life circumstances support full-time student/part-time worker or full-time worker/part-time student models

Work for your university to access tuition benefits

Many universities offer generous employee tuition discounts—Dr. Bishop's school would have covered 96% of tuition

Compare total compensation including benefits when considering university employment versus staying in current role

Even part-time benefits-eligible positions (50-60%) may qualify for significant tuition reductions

Continuously seek new funding throughout your program

Scholarships, assistantships, and fellowships are not fixed—new opportunities arise each year

Maintain a strong GPA early in the program to unlock merit-based funding

Ask about uncommitted funds every semester; Dr. Bishop secured $18,000 by regularly inquiring about unused scholarships

Leverage campus housing roles to reduce living expenses

Resident advisor positions provide free housing plus stipend for single students

Hall director roles offer apartment housing suitable for married or parenting students

Some universities have low-cost short-term housing options for commuting students

Ask employers and departments for professional development support

Request employer funding for conferences and development opportunities

Build relationships with department staff to learn about available resources

Use email templates to systematically request uncommitted funds each semester

Intro

Tiffany Grant interviews Dr. Darla Bishop about navigating graduate school debt-free while maintaining full-time work and family responsibilities.

Dr. Darla Bishop (the FinanSis) is founder of Finansis LLC, author of How To Afford Everything, and a public health expert who completed her doctorate without new debt.

Grad School Without the Debt with Dr. Darla Bishop | Ep. 342

Key Takeaways

Intro

– Choosing the Right Program

– Working for Your University

– Utilizing Scholarships and Assistantships

– Covering Additional Expenses

– Asking About Uncommitted Funds

– Leveraging Campus Housing Roles

Books Mentioned

Resources

Topics