Are you familiar with the following terms for financing your graduate education?
Fellowships: typically granted to individuals to cover their living expenses while they carry out research or work on a project. Awards may be single or multiple-year. Awards are usually based on an individual’s merit as measured by grades, GRE scores, publications, and letters of recommendation.
Assistantships: usually campus-affiliated work assignments (e.g. graduate teaching instructor, research associate) that provide an individual a stipend and often waive tuition and/or other matriculation fees.
Grants: often awarded to cover expenses associated with carrying out research or other specific projects, such as travel, materials, or computers.
Be sure to check out FinAid: The Smart Student Guide to Financial Aid – an award-winning site with comprehensive information about student financial aid