The financial math of pursuing a master’s in counseling is uniquely challenging. Most CACREP-accredited programs require 60 credits (nearly double the typical master’s), clinical practicum and internship hours limit how much you can work during the program, and entry-level counseling salaries remain moderate compared to other graduate-level fields. That makes financial aid not just helpful, but essential for most students. This guide will help you find online counseling master’s programs that offer and accept financial aid.
Author: Jordan Cosselman
Editor: Wes Ricketts
- School Profiles
Program Profiles: Popular Online Counseling Master’s Programs with Financial Aid
Read more - FAQs
Frequently Asked Questions
Read more - Types of Aid
Types of Financial Aid for Counseling Graduate Students
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Program Profiles: Popular Online Counseling Master’s Programs with Financial Aid
These three programs represent different models for making a counseling master’s degree affordable. One pairs a high sticker price with strong outcomes and merit aid, another combines prestige with a bridge pathway for career changers, and the third keeps costs low through public-university pricing.
Read the details of each school to find which model works best for you, and what to look for during your own program search.
Wake Forest University
Wake Forest’s online MA in Counseling is CACREP-accredited and reports one of the strongest outcomes profiles in online counseling education, including a 97% first-time pass rate on the National Counselor Examination (NCE). The program offers tracks in clinical mental health counseling and addiction counseling, and every student is assigned a dedicated clinical placement coordinator who arranges practicum and internship sites nationwide—removing one of the biggest logistical headaches for online counseling students.
- Wake Forest awards merit-based scholarships to admitted students. Awards are determined during the admissions review process and do not require a separate application.
- Military-connected students may be eligible for tuition benefits through the GI Bill and the Yellow Ribbon Program.
- Federal Direct Unsubsidized Loans and Grad PLUS Loans are available through FAFSA.
Types of Aid Offered/Accepted:
- Merit-based scholarships
- Military benefits
- Federal financial aid
Northwestern University
Counseling@Northwestern is the CACREP-accredited online MA in Counseling offered through The Family Institute at Northwestern University. The program focuses on clinical mental health counseling with an optional child and adolescent specialization, and includes 200 practicum hours and 600 internship hours with faculty-approved placement sites.
What sets Northwestern apart for career changers is its Bridge to Counseling track, which adds foundational coursework for students who don’t have an undergraduate background in psychology. This makes the program accessible to second-career students from fields like education, business, or healthcare.
- Northwestern offers financial aid options including institutional scholarships and grants for eligible students. Award details are determined during the admissions process.
- The program is FAFSA-eligible, with Federal Direct Unsubsidized Loans and Grad PLUS Loans available.
- Students enrolled in CACREP-accredited programs like Northwestern’s are also eligible for external fellowships, including the NBCC Minority Fellowship Program.
Types of Aid Offered/Accepted:
- Institutional scholarships and grants
- Federal financial aid
- External fellowship eligibility
Lamar University
Lamar University offers a CACREP-accredited online MS in Clinical Mental Health Counseling at one of the lowest tuition rates among accredited programs, with a flat online tuition rate extended to all students regardless of residency. The 60-credit program is fully online with the exception of clinical placement hours, which are arranged in the student’s local area.
- Lamar’s low tuition functions as a form of financial aid in itself. With per-credit costs well below most CACREP-accredited competitors, the total degree cost is substantially lower than what students would pay at private institutions—even before applying any additional aid.
- The university offers institutional scholarships for graduate students, and students are encouraged to explore Lamar’s scholarship database for field-specific and university-wide awards.
- Federal financial aid is available through FAFSA, and the program’s affordable pricing makes it a strong match for students using employer reimbursement or agency tuition support.
Types of Aid Offered/Accepted:
- Institutional scholarships
- Federal financial aid
- Employer/agency tuition reimbursement
Frequently Asked Questions
Types of Financial Aid for Counseling Graduate Students
Institutional merit scholarships are awarded by the school based on your academic record, professional experience, or application strength. At many programs, you’re considered automatically when you apply. Award amounts in counseling programs tend to be smaller than in business or law, but partial-tuition scholarships of $2,000–$10,000 are common at mid-range and upper-tier schools.
- Wake Forest, for example, awards merit-based scholarships during the admissions process with no separate application.
Need-Based Grants
Need-based grants are awarded based on your financial situation rather than your academic profile. They are less common at the graduate level, but are available at some schools, particularly larger private universities with established endowments.
Eligibility is typically determined through FAFSA or a school-specific financial aid application.
NBCC Foundation Fellowships
The NBCC Foundation administers the Minority Fellowship Program, one of the most significant external funding sources in the counseling field. Funded by SAMHSA, the program awards $12,000 fellowships to master’s-level mental health counseling students and $15,000 fellowships to addictions counseling students from underrepresented communities.
Recipients must be enrolled in a CACREP-accredited program and commit to serving underserved populations after graduation.
Graduate Assistantships
Graduate assistantships are part-time positions (typically 10–20 hours per week) working for the university in exchange for a tuition waiver, hourly pay, or a stipend. In counseling departments, assistantships often involve:
- Supporting faculty research on clinical topics
- Assisting with undergraduate psychology courses
- Staffing campus counseling-adjacent services
Availability for online-only students is limited at most schools. If you live near your program’s campus, your options expand considerably.
Agency and Employer Tuition Reimbursement
If you’re already working in a community mental health agency, hospital system, school district, or social services organization, ask about tuition reimbursement or professional development funding. Many agencies in the behavioral health sector support staff pursuing advanced credentials, particularly when the degree leads to independent licensure that expands the organization’s billing capacity.
Reimbursement policies vary—some cover a flat annual amount, others reimburse per credit—and may require a post-completion service commitment.
External Scholarships for Counseling Students
Several national organizations offer scholarships specifically for students in counseling and mental health fields.
- The American Counseling Association Foundation offers scholarships and grants for graduate counseling students
- State counseling associations affiliated with ACA frequently offer smaller awards ($500–$2,000) for members pursuing graduate degrees
- The AAMFT Minority Fellowship Program supports students in marriage and family therapy programs
These require separate applications with their own deadlines. Given the length of a 60-credit program, applying each year is worth the effort.
State Behavioral Health Loan Repayment Programs
This isn’t aid you receive during the program, but it can dramatically reduce your debt after graduation. Many states operate loan repayment programs that forgive a portion of student debt for licensed counselors who agree to work in underserved areas—typically Mental Health Professional Shortage Areas (HPSAs) designated by HRSA.
Award amounts vary by state but can reach $50,000 or more over a multi-year commitment. The federal National Health Service Corps (NHSC) also offers loan repayment for licensed mental health professionals working in approved shortage sites.
Federal Student Loans
Federal Direct Unsubsidized Loans and Grad PLUS Loans are available to graduate students at FAFSA-eligible institutions. These must be repaid with interest, so exhaust the options above first.
- For counseling students specifically, borrowing decisions carry extra weight. A 60-credit program generates more loan volume than a typical 30-credit master’s, and entry-level counseling salaries may make aggressive repayment difficult early in your career.
Plan your borrowing around realistic post-graduation income, and look into income-driven repayment plans from the start.