Financial Aid Information
The Department of Economics awards financial aid in the form of full tuition, yearly health insurance and a fellowship or service stipend to all of our PhD students up to the conclusion of the fifth year in the program.
PhD students in good standing will receive a Graduate Scholarship for the full tuition for as long as they are in the program (up to 7 years). Tuition for the 2021-2022 academic year is $2,278 per credit.
PhD students in good standing will receive a health insurance subsidy for as long as they receive a graduate scholarship. The cost of student health insurance for the 2021-2022 Academic Year is $2,995. Health Insurance is charged during the Fall semester of the Academic Year.
Fellowship/Stipend support is merit based and is provided to PhD students in order that they might pursue their academics without having to earn an income.
First Year PhD students will receive a fellowship (non-service) from the Department in the amount of $33,814 for the full academic year. The purpose of this fellowship in the first year is for PhD students to focus in on their studies and prepare for the comprehensive exams at the conclusion of the first year. Fellowship (non-service stipend) support provides a lump sum payment at the start of the quarter and tuition support.
Second Year PhD students and above will receive a service stipend in the amount of $33,814 for the full academic year. Mainly students choose between teaching assistantships (95%) and research assistantships (5%).
Sixth Year PhD students and above are not eligible for Graduate School or Departmental stipend support. At this time, PhD students are encouraged to find alternate sources of income.
Here are the different types of assistantships:
Teaching Assistantships (TAs)
TAs are hired by the department and receive a payroll check twice a month and also receive a health insurance subsidy. As a TA you are expected to work 15 hours per week. TAs can be employed an additional 5 hours per week on or off campus.
Research Assistantships (RAs)
Students on Research Assistantships are employed by the professor who hired them. Students are generally contacted by the Professor who is interested in them to work on research. RA positions receive a payroll check twice monthly and also receive a health insurance subsidy. RAs work an average of 20 hours per week during the quarter in which they are employed.