Money, money, money

[dcc777]

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Hi SDNers,

I have two questions that pertain to money. I am beginning a PhD program in clinical psychology in the fall, and here are two things I am wondering:

1. What kind of "hidden fees" can I expect to pay? For example, is there an admissions deposit? Some sort of tuition fee that is not covered in the full tuition remission? Parking permits? It seems unrealistic to believe that I will not have to pay a penny for anything school-related, but I'm not sure what I should be on the lookout for having to pay before/once I begin my program. I've also been told to expect to have to pay taxes on my stipend, is this generally the case in these kinds of programs?

2. Aside from loans, is there another way for a graduate student to get extra money for school? For example, am I able to apply for scholarships as a grad student that will be receiving a stipend?

Sorry if these are sort of "duh" questions, but I really just had to ask because I have no clue. Thanks in advance! 🙂

 

[bunderj]

Hi SDNers,

I have two questions that pertain to money. I am beginning a PhD program in clinical psychology in the fall, and here are two things I am wondering:

1. What kind of "hidden fees" can I expect to pay? For example, is there an admissions deposit? Some sort of tuition fee that is not covered in the full tuition remission? Parking permits? It seems unrealistic to believe that I will not have to pay a penny for anything school-related, but I'm not sure what I should be on the lookout for having to pay before/once I begin my program. I've also been told to expect to have to pay taxes on my stipend, is this generally the case in these kinds of programs?

2. Aside from loans, is there another way for a graduate student to get extra money for school? For example, am I able to apply for scholarships as a grad student that will be receiving a stipend?

Sorry if these are sort of "duh" questions, but I really just had to ask because I have no clue. Thanks in advance! 🙂

Congratulations on your admission! I'm in a fully-funded Ph.D. program, but still end up paying about 400 bucks or so a semester for random university fees, technology fees, etc...Also, there are obviously books, etc. to be purchased. Health insurance, if you opt in, is taken out of the stipend (at least for us), and yep...if you want to park close, you pay. Otherwise we get parking tags for free, but the lots aren't so close. As for other ways to get money, a lot of students in our program apply for grants, ranging from small pots of money for direct research costs, to large NSF/NRSA type grants that provide funding.

 

[roubs]

It's my understanding that all stipends anywhere are considered taxable income. This shouldn't depend on the school, the only thing that may differ is that some schools may do withholding and some may not.

If your stipend is the typical you won't end up paying much on it when you do your taxes...assuming you don't have a substantial income from a spouse or investments.

Oh and btw you might want to change your profile status away from 'psychologist' if you aren't a psychologist.

 

[wigflip]

Hi SDNers,

I have two questions that pertain to money. I am beginning a PhD program in clinical psychology in the fall, and here are two things I am wondering:

1. What kind of "hidden fees" can I expect to pay? For example, is there an admissions deposit? Some sort of tuition fee that is not covered in the full tuition remission? Parking permits?

In addition to parking, there are several hundred dollars in fees each term at my school (things like "recreation maintenance fee!"). If TAs at your school are unionized, you'll likely have a deduction made from your TA wages, regardless of whether you opt into the union (smaller deduction if you don't join).

 

[AcronymAllergy]

It's my understanding that all stipends anywhere are considered taxable income. This shouldn't depend on the school, the only thing that may differ is that some schools may do withholding and some may not.

If your stipend is the typical you won't end up paying much on it when you do your taxes...assuming you don't have a substantial income from a spouse or investments.

Oh and btw you might want to change your profile status away from 'psychologist' if you aren't a psychologist.

Yep, as far as I know, stipends are essentially all taxable. Be careful about this, as there's a chance your university will not withhold the appropriate taxes, so you may need to pay them quarterly to avoid penalties.

 

[hockey99]

One thing you might want to know is when the first stipend deposit should be made. Thankfully, a grad student told me that I wouldn't get mine until the end of september so I can budget accordingly.

 

[perhaps11]

I was actually curious about a related issue - what is the typical pay schedule for stipends? Weekly? Bi-weekly? Monthly? I assume it varies with different universities, but it is still good to get an idea.

 

[dcc777]

I was actually curious about a related issue - what is the typical pay schedule for stipends? Weekly? Bi-weekly? Monthly? I assume it varies with different universities, but it is still good to get an idea.

I was told it was bi-weekly, at least for my program.

 

[dcc777]

One thing you might want to know is when the first stipend deposit should be made. Thankfully, a grad student told me that I wouldn't get mine until the end of september so I can budget accordingly.

Wow, that would be good to know. Thanks for the tip.

 

[AcronymAllergy]

I was actually curious about a related issue - what is the typical pay schedule for stipends? Weekly? Bi-weekly? Monthly? I assume it varies with different universities, but it is still good to get an idea.

Definitely going to vary by university. Ours was monthly. The best way to find out is probably to contact the department secretary and see if he/she knows.

 

[123EW]

So far I know books, health insurance (which is mandatory) and parking. Not sure if fees are covered or not.

Definitely check on the health insurance at your school. Some places it is mandatory, some not. You don't necessarily have to have the plan through my school, but it's a pretty good one so I will go with that.

 

[deadmau5]

Nothing really for me. Just keys... $40. One textbook so far.

I'm happy with my pay and health coverage so far.