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Key takeaways
- Student stipends can be small, so having additional income from teaching or research may be necessary.
- Graduate students aren’t guaranteed funding, but there are plenty of options to reduce the cost of your education.
- Teaching and research assistantships are common ways for graduate students to earn money while studying.
Graduate school enrollment is a major life decision, and many prospective students worry about finding a source of income while they pursue a degree. While graduate assistantship programs may be one potential solution, they are of limited availability and far from guaranteed. Knowing what positions are available at your school, what you can expect to be paid, and how to apply can be a first step toward pursuing internal employment while you study.
How graduate students get paid
Many programs offer stipends or tuition waivers in exchange for helping professors or engaging in advanced research with department faculty. These usually take the form of teaching or research assistantships or fellowships, with details discerning the two that vary depending on the school. Some programs may also offer salaried positions to students willing to become teaching assistants or independently teach courses.
Assistantships are generally competitive programs offered to high-performing students who excelled during their undergraduate education. Fellowships are often even more competitive and may be paid to students pursuing specific research interests on behalf of their sponsoring institution. Other funding options mirror those available to undergraduates: student loans, scholarships and grants.
How much do graduate students get paid?
The overall pay depends largely on the type of assistantship you pursue. PayScale lists the average salary for graduate assistants as $26,620, but research graduate assistants make a slightly higher $30,957. The Bureau of Labor Statistics’ latest data shows that teaching assistants at the postsecondary level earn an average of $47,030 nationally.
With such discrepancies in the available data, it can be hard to pinpoint the exact amount someone can expect to earn. Some salary averages may include an additional stipend for living expenses, while others list the amount student assistants are paid after tuition reimbursement.
If you are considering graduate education, make potential assistantships and stipends a point of research when comparing schools. Using a budget calculator can also help you determine what path is best for you. If you are already enrolled in a program, reach out to your advisor to learn more.
How much do Ph.D. students get paid?
Like graduate programs, some Ph.D. programs will offer stipends to students; some even post the exact stipend amount on the program website each year. For example, at the University of Arkansas, doctoral assistantships have a minimum base pay of $21,000 for 12 months and receive additional benefits, like a portion of their health insurance paid. In comparison, at the University of Miami, the annual salary for an assistantship in 2024 is $40,140, with health insurance and tuition paid for.
As in any field, your salary may depend on your school’s available funding, the type of work you do and other factors. Being mindful of your income and expenses during graduate school can help you minimize the amount of student debt you take on while enrolled.
Is a student stipend enough to live on?
Student stipends typically aren’t enough to live on by themselves, especially once you factor in tuition and fees, living expenses, and other monthly payments you may be responsible for.
If you need more to cover your expenses, you may need to take out a graduate school loan. Though taking on debt for school isn’t ideal, it’s a common way to pay for advanced degrees.
How to create a budget with your stipend
Creating a strict budget can help stretch your stipend further. The first thing you’ll need to do is eliminate much of your unnecessary spending, including dining out, subscription services or services that are duplicated through your campus, like access to a gym.
Once you’ve cut out any unnecessary expenditures, consider how you can spend less on the essentials. For example, where are you shopping for staples like groceries and clothing? Try budget or bulk grocery stores and consignment shops to trim costs.
Textbooks, technology and supplies can add up, especially if you’re living on a student stipend. Check to see if your school offers technology rentals for necessities like laptops and specialty calculators. Also, consider buying or renting used textbooks outside your school’s bookstore, where the prices are typically inflated.
Lastly, when budgeting with a student stipend, prioritize your monthly living expenses and bills. Failing to pay your bills can invite hardship in the near term and can even damage your credit in the long run, especially if your account is sent to a collection agency. If you have an emergency fund, try not to dip into it unless you truly need the cash.
Bottom line
It can be difficult to manage your budget and find sources of income while you’re in graduate school. Taking on an assistantship or another funded opportunity from your graduate program could help you make ends meet, but know that the stipend you earn as a graduate student is rarely enough to live on alone. Look into financial aid and scholarship opportunities to help pay for school and minimize your debt.
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