Women seeking higher education frequently do so during peak childbearing years and women with higher levels of education are more likely to postpone motherhood until a later age. Fertility rate, defined as the average number of children born to a woman over her lifetime, has decreased globally. The decrease in birthrate has been partially attributed to women seeking educational opportunities. Understanding the experience of students in this realm would allow higher education institutions to better support students who are (or wish to be) mothers. Unfortunately, there is a paucity of research examining graduate women and the factors involved in their consideration of having a child while in school. We seek to fill this gap by examining the impact of fertility concerns (FC) and importance of on-time degree completion (DC) on the probability of having a biological child in graduate school (PC) among 469 female graduate psychology students in the USA. We found higher FC was associated with higher PC. In contrast, higher DC was associated with lower PC. Furthermore, FC had a significant unique relation to PC after accounting for the contribution of DC. We discuss how institutions and programs may help support and empower female graduate students by implementing educational policies and procedures that are supportive of graduate student mothers. This is particularly important because a large proportion of women pursue advanced degrees, and this number is projected to increase.