“Read the Fine Print”: Stipends and Fellowships- The Good, Bad, and Not-So-Pretty
It is important that students understand how their fellowships and stipends work, and the expectations that they may have. This can increase students’ well-being and result in a more rewarding graduate school experience.
School is expensive. Doctorates are EXPENSIVEEE. So, attending programs that are well funded and cover tuition eliminates the financial stress of having to pay for such a costly degree. But what about expenses outside of school?
Being a graduate student is a role that requires considerable dedication and effort. Many doctoral programs offer graduate student stipends, so students can receive funding as part of an assistantship or fellowship from the school. Stipends are often provided through part-time employment, such as a graduate research assistant (GRA), Teaching Assistantship (TA), and Fellowships. The money is meant to support your living expenses while performing research or other educational pursuits. Stipend amounts and hours worked are variable. Stipends are also “technically” reimbursement for the amount of work that students do, although the amount of money made versus the large workload are not always equivalent.
The stipends offered for these positions often cover living costs (e.g., housing, utilities, transportation, and food); however, the stipend amount varies significantly depending on the university, program, and location of the student's institution. Not only this, but the stipend being a “living wage” also varies depending on many things, including location, time of year, and other variables that could make living expenses fluctuate.
Additionally, some institutions guarantee five years of support, whereas others may only be able to provide one to four years. This is problematic because many graduate students cannot live off of their stipend, and knowing that there are limits to these resources can be stressful and interfere withstudents’ ability to thrive in school or even complete their graduate studies. According to Inside Higher Ed, the average graduate student stipend can range from $13,000 to $34,000 annually. How much you earn with a stipend will depend on the program, educational institution, and location.
This article outlines strategies for surviving on a graduate student stipend and discusses whether the stipends are sufficient for graduate students to live on.
The Non-traditional Graduate Student
According to the National Center for Education Statistics (NCES), non-traditional students are defined as adults over the age of 24 who are pursuing a higher degree part-time while working full-time or are who returning to school full- or part-time after a significant break or interruption (starting a family, starting a career, switching careers, or serving in the military). Usually, PhD programs require a certain number of years of experience before students are accepted. This means that, more than likely, a large number of PhD students are non-traditional students. This can be problematic due to the large decrease in income.
There are also opportunity costs, wherein many non-traditional students have work experience, and attending graduate school often means giving up a job or reducing work hours, which can lead to a loss in income and job-related benefits. Since it is likely that non-traditional students may have existing debt or limited savings, this makes managing finances during grad school more challenging for managing debt and increasing their savings.
Grad school stipends may not always be sufficient for non-traditional students due to various factors, including having increased financial responsibilities. Non-traditional students often have additional financial responsibilities, such as caring for a family or paying a mortgage, which can strain their budgets. The cost of living varies widely by location, so most stipends might not be adjusted for higher living costs, making it difficult for non-traditional students to make ends meet. With limited access to additional income, non-traditional students might not have the flexibility to take on part-time jobs or assistantships given their academic commitments.
Finally, tuition and fees are another issue, as the stipends may cover tuition but not all fees. Non-traditional students may have more expenses, including childcare or commuting costs, which can add up. Then, they have to cover the cost of fees (like a technology fee or a social work education fee), which must be paid by a certain date in order for the student to stay enrolled in school. So not only are there regular living costs that non-traditional students have to take into account with their decrease in salary, but more institutional costs are also added on.
It's essential for non-traditional students to carefully assess their financial situation and explore options like scholarships, grants, and part-time work to help bridge the financial gap during grad school.
The Traditional Graduate Student
A traditional graduate student may be defined as a full-time student who comes to graduate school immediately following their undergraduate career.
Graduate school stipends can be a suitable source of financial support for traditional-age students, but their adequacy also depends on various factors. The field of study and the specific program plays a significant role. Stipends in STEM and engineering tend to be more generous than in humanities or social sciences. Some students may be eligible for additional scholarships, grants, or research assistantships that can enhance their financial situation. Different universities have different policies regarding stipends, including the level of financial support they offer graduate students.
Additionally, location, lifestyle, and financial situation all impact how well a stipend can support their academic career. The cost of living in the area where the university is located can significantly affect how far a stipend goes, where high-cost cities may require additional financial support. Additionally, the student's financial situation before attending graduate school will determine the effectiveness of not needing to work a part-time job. Students with lower expenses or access to additional sources of income may find stipends more comfortable, whereas students with little to no support and higher expenses may not benefit as much from the stipend provided.
It's crucial for traditional-age students to evaluate their specific circumstances carefully, the program they're considering, and the University's stipend policy to determine if it is sufficient to support their needs during graduate school. In some cases, students might need to explore additional financial options or part-time work to supplement their stipends.
Both traditional and non-traditional students have something in common: the challenge of multiple roles that often contribute to their increased stress.
Strategies and Recommendations
Graduate school is time-consuming and highly intensive. Therefore, it is essential to have a comprehensive understanding of the financial package and options for supplemental financial sources to avoid an added financial stressor during an already stressful period. It is helpful for students to have an open and candid dialogue about their stipend with their faculty advisors and graduate school financial aid representatives.
Some fellowships that provide stipends have strict rules as to what the student can and cannot do in order to continue to qualify for the stipend. For instance, some universities provide stipends for the student to do research or teach, but they are not able to work or collect any extra income. There are also fellowships outside of prospective universities that may not have a work obligation but still have a cap on how much money can be made along with other stipulations. For instance, a minority fellowship provided by the Southern Regional Education Board (SREB) does not require students to work for their monthly fellowship, but the students have a cap on how much they can earn outside of their monthly stipend. If students make more than allotted, the fellowship could be significantly reduced and “rolled over” to another year. This fellowship also has a mandatory conference every year that students must attend in order to continue to receive the stipend, with very little exception to this rule. For this fellowship and those similar, it is extremely important to be mindful of these stipulations before applying to ensure that the student is prepared for this.
In addition, international students are typically not allowed to work outside of their GA, TA, or other fellowship. Therefore, these costs can be exceptionally great for international students.
So how can we overcome these disparities of having so many expenses but not the income suitable to comfortably pay these living expenses and live comfortably? Below are some suggestions and real ways some students use to make these stipends work. Remember, these are only suggestions; you know what works best for you.
STUDENT LOANS
There have been a few students that take out the max amount of student loans every semester to make ends meet. Although not ideal, this is the best way for students to ensure that they can afford their living wages, including housing and food, without always being at risk of being homeless, going without food, or any other necessity.
These students also discuss the Public Service Loan Forgiveness Plan (PSLF), which allows people to work for 10 years and pay off their loans for the same amount of time before all of their loans are forgiven. More information can be found at the link above.
PART-TIME WORK
Although not always ideal, if there is time to pick up an extra job for more income, some students do this. This can include becoming an adjunct professor, doing outside research for other professors or programs, or obtaining a job totally outside of academia (mall, fast food, etc.). The problem with this, again, is time. It is also important to remember the income cap for the stipend that is received so that students are not working so much that they end up losing some of their stipend money.
OUTSIDE SUPPORT
However realistic this may be, some students may have other people who can support them in different ways. This can include giving them monthly allowances or helping pay bills. Unfortunately, this is not always feasible because not everyone has extra support. However, if this is an option for you, feel free to utilize that outside support.
DOUBLE UP ON FELLOWSHIPS
Although some fellowships are strict in the amount of extra money that students can bring in, there are some fellowships that would allow students to earn extra money with no penalty and no implications to their initial fellowship. One that comes to mind is the SEC Emerging Scholars Program. This fellowship would be great for students who have strict rules for their initial scholarship because this is one of the rare ones that students can receive in conjunction. However, be mindful that a lot of fellowships may have work requirements to receive them. (such as research or conference work).
INCREASE STIPENDS
Something that may seem more obvious is for schools and fellowships to increase stipends. This can be done in many ways, including taking the cost of living into consideration, along with inflation, and making sure that students are making an actual living wage. This can decrease the stress that comes with being in a PhD program and still having to make ends meet outside of school.
INCLUDE LIVING IN STIPENDS
It would be great if fellowships would also include housing in the stipend packages, but of course, this may come with strict stipulations on where a student can live, how many people can live with them, etc.
It is important that students understand how their fellowships and stipends work, and the expectations that they may have. This can increase students’ well-being and result in a more rewarding graduate school experience.