What is the average stipend for a student doing summer research? Also, do students who work with a preceptor during the summer get paid ?
I am working on my monthly budget and need to know how I am going to pay for the 2 months during the summer.
Those who get NIH grants receive ~$5100. Unfortunately, due to national level NIH cutbacks in recent years, there were only 16 of those. The powers that be are trying to shore up other funding for the future, but it's not guaranteed yet.
The good news is that NIH funding isn't your only option. If you investigate faculty early, you should can probably assure yourself around $3000 from the PI's funding, the department's, or the dean's office. (I didn't get the NIH grant, but my faculty member scrounged up equivalent funding from his chair.
) And there are other options: M.D. Anderson also runs a summer program that pays ~$3000.
So for budgeting, if you stay on top of things and are willing to be somewhat flexible in areas of research (ie, don't expect to get paid by a Derm prof), I think you can safely count on $2500-$3000. But still, you can see my earlier advice on taking out max loans to cover yourself.
As for preceptorships, they last four weeks, so you can do one or two during the summer. If you're in a "rural" environment, they pay $1000 per; in "urban" environments, $500. The program's definitions of rural and urban are somewhat amorphous, from what I hear. Moreover, I've heard of people getting around this by, say, staying in Austin with friends, but driving out to Burnet daily for their "rural" preceptorship.
As for choosing lenders, one other point to keep in mind is that a lot of the promotions and special offers with certain lenders only come into effect after you've made certain number of paymentsand are cancelled if you consolidate (which, fingers crossed, interest rates will still be favorable for in a few years).