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Grad School University Aid—And How to Get It
Grad School University Aid—And How to Get It
This article is an excerpt from Paying for Grad School Without Going Broke by Peter Diffley and Joseph Russo
The biggest source of financial aid for grad school comes from the university that you are applying to and the faculty who work there. The more they want you, the more of their resources they will offer you. Here, we detail some of the types of offers that you may receive: a few dollars may be just for showing up, a few you may have to work for, and a few you may have to pay back.
****Tuition Scholarships and Waivers****
You do not have to pay back scholarship money, and most of the time you don't have to work for it either. If the scholarship has no service requirement, it is not considered taxable income. Therefore, it should not appear on W-2 or 1099 forms, and you do not have to report it on your annual 1040. Nor do you have to report it when applying for loans or state aid. Obviously, however, you can't claim the tuition bill covered by the scholarship as an educational expense, either. Occasionally, some bureaucrat will try to add your scholarship as income. If that happens, you should then demand that the tuition bill be added as an expense. Then the two wash, and everyone is happy. If work is required for your tuition scholarship or waiver, the money may be considered taxable income. Be sure that you have in writing what work-if any-you need to do for scholarship money.
Generally, tuition scholarships are Monopoly money-good for internal transactions only. In other words, if you get a $15,000 scholarship but decide to take only $10,000 worth of courses, you cannot collect $5,000 to pay the rent, even if it's campus housing.
Sometimes, state schools find it easier not to bill someone than to find scholarship money because state legislatures are very tight with tax dollars-hence the invention of tuition waivers. You are simply not billed for the courses taken, or the additional out-of-state tuition charge may be waived. Sometimes partial tuition scholarships are called fellowships. You receive a cash award that is promptly subtracted from your tuition bill. Basically, don't expect there to be money left over to pay the electric bill.
****Stipends****
There are two major ways in which you earn a student stipend: by teaching for a department or by doing research for a faculty member. The percentage of students who receive stipends and the amount paid to each vary depending on intended degree and field, enrollment status (full- or part-time), and years of enrollment. A small number of students may get a stipend just for showing up (i.e., recipients of fellowship holders).
In return for nine months of career-related work, you will be paid a stipend to cover your living and otherwise uncovered educational expenses. A stipend may be associated with a title: full-time graduate assistant, half-time teaching assistant, etc. You'll want to confirm the number of hours you are expected to work and for how many dollars per semester.
A stipend is supposed to allow students the time to devote their full attention to their studies instead of having to flip burgers to pay the rent. If, however, you are married with children and trying to get a master's in art history in downtown Boston, for example, survival on a stipend alone is unlikely. So be sure to check into the cost of living within the school's locale for you and your dependents. If there is a gap between stipend and fiscal reality, ask the director of graduate studies what students often do to make ends meet and how many hours a week they usually need to do it.
You also need to know how many academic years you are guaranteed a stipend, assuming satisfactory academic progress. Of course, your next question should be: What is the average time it takes students in your discipline to earn a degree? There may be a gap in funding between the two, and you need to ask the director of graduate studies how students support themselves after the assistantship runs out.
The career-related work associated with the stipend should add luster to your curriculum vitae. Less experienced teaching assistants will supervise course laboratories, grade examinations, give guest lectures in class, run tutorials, or lead discussion sections. More senior graduate assistants may actually design their own courses and give all of the lectures.
The amount of stipend money that you receive will vary among schools, among departments within a school, and even among students within the department. This academic fact of life extends to faculty contracts as well. It is more important for you to determine if the stipend is enough to keep you out of significant debt in the short run than to wonder why your next-door neighbor is making more money than you are.
Your stipend amount may also be independent of the amount of time you put in. On average, graduate students put in about 16 hours a week toward TA duties, but this varies from a low of 14 hours (in the classroom) for humanities students to an average of 20 hours per week (in the three- to four-hour teaching labs) for scientists.
The stipend is taxable income (federal, state, county, and city), and if you are classified as an employee, you may also lose part of your paycheck to that guy FICA. It is important to know how much of your earnings will disappear before you get your paycheck.
Be forewarned that you may be expected to pay school fees, supplies, and books out of your stipend, as well as tuition. And don't forget to factor in medical insurance and health center fees along with parking, technology, and general student activity fees. Then there are the normal living expenses of room, board, and transportation. There won't be much left over for entertainment, but take solace in the fact that your classmates won't have time or money for high times, either!
So, how do you get a teaching assistantship? You answer "yes" to the question on your application that reads, "Do you wish to be considered for financial aid?" If the department has the money, it will offer assistantships to its best applicants.
****Research Assistants****
Research assistants receive a stipend for doing research for a faculty member. The amount of the funding varies depending upon the discipline. The source of your stipend as a research assistant may be a government grant or the university coffers. But it's all legal tender. Grants require frequent renewal to keep the money flowing, so this route may appear risky. But university RA money is not guaranteed, either.
Generally, in social sciences and humanities, you will be helping faculty members directly with their research. The more you pay attention, get involved, and ask questions, the more you will learn about the research process. The methods that you learn will come in handy when you approach your own dissertation.
In science and engineering, on the other hand, your dissertation research will most often contribute data to the overall research goals of your graduate advisor. In other words, you will be paid as a research assistant to do your own dissertation. The downside is that you may find yourself on a data assembly line, in which it will be difficult to get involved with the planning and publication ends of the research. In order to avoid becoming a lab technician instead of a researcher, you will need to assert yourself and get involved with the generation of ideas, the planning of experiments, and the writing of grant proposals and journal articles.
Sounds good! Where do I sign up? In general, the faculty members who get the research grants hand out the research assistantships. Therefore, if the faculty member happens to be your graduate advisor, you will be first in line. Even if your advisor doesn't have any research dollars, another faculty member may. Sometimes, researchers have extra work or special needs (e.g., translations, Web work, statistical analysis, etc.). Such piecework will probably not support you completely, but it will be a nice, career-enhancing supplement to your income.
In general, research assistantships pay more than teaching assistantships. This is no doubt due to the fact that new students in science and engineering are given the teaching responsibilities, while the more advanced students are awarded research assistantships. Both have their advantages. The TA gives you teaching experience; the RA gives you research experience. The best of all possible graduate student worlds will involve both.
****Fellowships****
Receiving a fellowship is an honor. Every academic department, however, will have a different definition of what a fellowship actually is. Do not assume anything. In fact, ask the following questions at will: How many years does this fellowship last? What happens after it expires? Is the stipend for a full year or just nine months? Is a full-tuition scholarship included? Does the tuition scholarship include summer courses? What fees and benefits, especially health insurance and on-campus parking, are covered? What work do you have to perform for the fellowship and for how long? Does a research allowance come with the fellowship? A research allowance that can be used to purchase equipment (e.g., a computer) and books or travel to professional meetings is an increasingly popular recruiting perk. It pays for many hidden professional development costs, but it is not considered income, so Uncle Sam does not get a chunk of it. The research allowance is not a common feature for most university fellowships, but it may be available with certain federal fellowships (like the NSF Graduate Fellowships, Javits Fellowships, and others).
The best fellowships will last for three to five years and include a 12-month stipend. You'll probably find that there's more stipend money and less work than what a TA is required to perform. But don't be surprised if TAs, especially on unionized campuses, get more benefits, health insurance, parking, special book rates, and office space than fellows. Subtract their benefits from your fellowship stipend to determine if they get the better deal.
****Professional Development****
Graduate school is all about getting a job after graduation. And for research positions (academic or industrial), it is the research you produce in school that is one of your most important credentials. Your research record includes presentations of your results at professional meetings and journal publications. It costs money to travel to and participate in professional meetings. Journal articles have page charges. Who pays for this? If your graduate advisor has grant support, he or she may foot the bill. Otherwise, you will have to look to your department, the academic dean, the university research office, or the graduate school. There may also be outside sources of support. |
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