Show Me the Show Me the Money: Financing Money: Financing Graduate School Graduate School

EducationEducationSibrina Collins, PhDSibrina Collins, PhD

May 12, 2008May 12, 2008

EIP/McNairEIP/McNair

OverviewOverview

Masters vs. PhDMasters vs. PhD Graduate School LandscapeGraduate School Landscape

Common Phrases and AcronymsCommon Phrases and Acronyms Who are the Major Players?Who are the Major Players?

Financing Graduate EducationFinancing Graduate Education AcknowledgmentsAcknowledgments

Masters vs. PhDMasters vs. PhD MoneyMoney

Stipend support is typically offered for PhD Stipend support is typically offered for PhD programs; far fewer for Masters programsprograms; far fewer for Masters programs

ResearchResearch PhD programs prepare you to do research; PhD programs prepare you to do research;

Masters programs offer “hands-on” experienceMasters programs offer “hands-on” experience Time-to-Degree (Depends on Program)Time-to-Degree (Depends on Program)

Masters, 1-3 years; PhD, 4-6 years or longerMasters, 1-3 years; PhD, 4-6 years or longer Check out the Menu: Kinds of Masters DegreesCheck out the Menu: Kinds of Masters Degrees

In some PhD programs, you earn a Masters degree along In some PhD programs, you earn a Masters degree along the waythe way

Coursework (non-thesis) MS; MS (thesis-option)Coursework (non-thesis) MS; MS (thesis-option) Earning potential increases!!Earning potential increases!!

Graduate School Landscape:Graduate School Landscape:Language, Phrases, Acronyms!Language, Phrases, Acronyms!

DegreesDegrees M.S.M.S. = Master of Science= Master of Science M.A.M.A. = Master of Arts= Master of Arts Ph.D.Ph.D. = Doctor of Philosophy= Doctor of Philosophy

ExaminationsExaminations Cumulative exams (or “cumes”), placement exams, Cumulative exams (or “cumes”), placement exams,

qualifying exams, candidacy examinations (PhD, MS)qualifying exams, candidacy examinations (PhD, MS) Graduate School StatusGraduate School Status

M.S. student, M.S. candidate, Ph.D. student, Ph.D. M.S. student, M.S. candidate, Ph.D. student, Ph.D. candidate (A.B.D. = All But Dissertation)candidate (A.B.D. = All But Dissertation)

TA (Teaching Assistant)TA (Teaching Assistant) RA (Research Assistant)RA (Research Assistant)

Graduate School Graduate School Landscape!Landscape!

Who are the Major Players?Who are the Major Players? Deans, Department ChairsDeans, Department Chairs Professors (Assistant, Associate, Full Professors (Assistant, Associate, Full

Profs, Research Professors; Adjunct Profs, Research Professors; Adjunct Professors)Professors)

LecturersLecturers Postdoctoral ResearchersPostdoctoral Researchers Laboratory TechniciansLaboratory Technicians Graduate StudentsGraduate Students

Show Me the Money!Show Me the Money!

Three Basic OptionsThree Basic Options Fellowships and TraineeshipsFellowships and Traineeships Teaching and Research AssistantshipsTeaching and Research Assistantships LoansLoans

Which option is best for you?Which option is best for you? Depends on your programDepends on your program

Show Me the MoneyShow Me the Money Fellowships or TraineeshipsFellowships or Traineeships

Awarded on the basis of academic meritAwarded on the basis of academic merit Sometimes portableSometimes portable Usually provides payment of tuition and stipendUsually provides payment of tuition and stipend Diversity-based fellowshipsDiversity-based fellowships

Ford Foundation Diversity FellowshipsFord Foundation Diversity Fellowships Various disciplines (e.g. American Studies, Geography, Various disciplines (e.g. American Studies, Geography,

History, Chemistry, Economics, Ethnic Studies, Sociology)History, Chemistry, Economics, Ethnic Studies, Sociology) Annual Stipend: $20,000 (3-years of support)Annual Stipend: $20,000 (3-years of support) http://www.national-academies.org/fellowshipshttp://www.national-academies.org/fellowships

Other portable fellowships (NSF, Javits)Other portable fellowships (NSF, Javits) Other funding sources (GFIS database, UW Other funding sources (GFIS database, UW

Library)Library)

Show Me the Money!Show Me the Money!

Teaching Assistantships (TAs)Teaching Assistantships (TAs) TAs help institutions teach TAs help institutions teach

undergraduate students in return for a undergraduate students in return for a salary (may include tuition)salary (may include tuition)

Duties may include teaching a Duties may include teaching a discussion/recitation course, laboratory discussion/recitation course, laboratory course, grading papers, and meeting with course, grading papers, and meeting with students, or teaching your own classstudents, or teaching your own class

In addition to TA-ing you still have In addition to TA-ing you still have research responsibilities!!!research responsibilities!!!

Show Me the Money!Show Me the Money!

Research Assistantships (RAs)Research Assistantships (RAs) Most common within the science and Most common within the science and

engineering disciplinesengineering disciplines RAs typically work in laboratories to RAs typically work in laboratories to

assist faculty in research projectsassist faculty in research projects No TA responsibilities, so you can focus No TA responsibilities, so you can focus

solely on research efforts!solely on research efforts!

LoansLoans

UW ResourcesUW Resources http://www.washington.edu/students/sfs/loanhttp://www.washington.edu/students/sfs/loan

s/s/ http://www.washington.edu/students/osfa/graduate/http://www.washington.edu/students/osfa/graduate/

Money management, completing loan paper work, Money management, completing loan paper work, loan consolidation, etcloan consolidation, etc

Be responsible and take only what you Be responsible and take only what you need! need! John Gravois, “Trapped by Education,” John Gravois, “Trapped by Education,” The The

Chronicle of Higher EducationChronicle of Higher Education (April 6, (April 6, 2007).2007).http://chronicle.com/weekly/v53/i31/31a01001.htmhttp://chronicle.com/weekly/v53/i31/31a01001.htm

Real Example: Me!Real Example: Me!

The Ohio State UniversityThe Ohio State University Department of Chemistry, 1994-2000Department of Chemistry, 1994-2000 Research efforts focused on inorganic Research efforts focused on inorganic

chemistrychemistry TA Responsibilities for ~4.5 YearsTA Responsibilities for ~4.5 Years GEM Fellowship for one year; No TA GEM Fellowship for one year; No TA

dutiesduties

Other Funding TidbitsOther Funding Tidbits Fellowships, TA and RA appointments Fellowships, TA and RA appointments

are far more common for doctoral are far more common for doctoral studentsstudents

Some institutions guarantee a certain Some institutions guarantee a certain number of years of financial support; number of years of financial support; others may not “guarantee” support but others may not “guarantee” support but may give assurances that TA or RA may give assurances that TA or RA appointments will be available; all base appointments will be available; all base their decisions on satisfactory progress their decisions on satisfactory progress & performance& performance

Look at all of your options!!Look at all of your options!!

AcknowledgementsAcknowledgements

The UW Graduate SchoolThe UW Graduate School Dr. Betty Feetham, Associate DeanDr. Betty Feetham, Associate Dean GO-MAP ColleaguesGO-MAP Colleagues

Mr. Cuauhtemoc T. MexicaMr. Cuauhtemoc T. Mexica Directors, UW NSF Science & Directors, UW NSF Science &

Technology Centers (STCs)Technology Centers (STCs) Clara Sue Kidwell “Graduate School Clara Sue Kidwell “Graduate School

andand You: A Guide for Prospective You: A Guide for Prospective Graduate Students,” Council of Graduate Students,” Council of Graudate Schools (CGS)Graudate Schools (CGS)