The majority of graduate students believe an advanced degree is necessary to their career aspirations, and borrowing money is the top way students are paying for graduate school today, according to a new survey.

Two-thirds of grad students (64 percent) believe an advanced degree is the new minimum standard level of education for any professional occupation, and 95 percent say an advanced degree is necessary to enter, advance, accelerate, or remain competitive in their chosen career, according to "How America Pays for Graduate School," the study from Sallie Mae and market research company Ipsos.

Fifteen percent of graduate...

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