(NC) -- A Master's degree offers the opportunity to delve deeper into a field of study, fulfill a personal dream of attaining a professional designation, and the earning potential that accompanies a law degree or MBA. With rising tuition costs, many post-graduates borrow to finance their education and put saving for the future on hold until their salary catches up.

“The decision to pursue post-graduate studies is a very personal one, but one that should be made within the context of the broader financial plan,” said Shahz Beig, an associate vice president at TD Canada Trust. “It's important to recognize any gaps in funding early on and work with an expert to find smart and affordable financing options, like a student line of credit, to help pay for school.”

Beig offers the following tips to help students balance paying for a post-graduate degree with other financial priorities:

• Save, save, save: Start saving as early as possible, and take advantage of tax-efficient options to help money grow. Apply for student scholarships, grants and bursaries and consider tapping into RSP savings to help with education costs.

• Costs in vs. costs out: Look at total expenses against available income to see the big financial picture. Education costs coupled with other obligations like existing student debt, living expenses and discretionary spending all on a potentially reduced income is doable, but it's essential to budget diligently.

• Cover the gaps: Look for affordable ways to fill any gaps in your savings, such as a student line of credit for professionals to help cover essential expenses like tuition, books and living costs. Unlike a traditional loan or credit card, a student line of credit can offer a lower interest rate and increased flexibility when it comes to repayment, but it's important to work with a financial advisor to create a realistic plan to repay student debt after graduation.