Show Me the Money: Financing Graduate School Education Sibrina Collins, PhD May 12, 2008 EIP/McNair

Overview Masters vs. PhD Graduate School Landscape Common Phrases and Acronyms Who are the Major Players? Financing Graduate Education Acknowledgments

Masters vs. PhD

Graduate School Landscape

Common Phrases and Acronyms

Who are the Major Players?

Financing Graduate Education

Acknowledgments

Masters vs. PhD Money Stipend support is typically offered for PhD programs; far fewer for Masters programs Research PhD programs prepare you to do research; Masters programs offer “hands-on” experience Time-to-Degree (Depends on Program) Masters, 1-3 years; PhD, 4-6 years or longer Check out the Menu: Kinds of Masters Degrees In some PhD programs, you earn a Masters degree along the way Coursework (non-thesis) MS; MS (thesis-option) Earning potential increases!!

Money

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

Research

PhD programs prepare you to do research; Masters programs offer “hands-on” experience

Time-to-Degree (Depends on Program)

Masters, 1-3 years; PhD, 4-6 years or longer

Check out the Menu: Kinds of Masters Degrees

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

Coursework (non-thesis) MS; MS (thesis-option)

Earning potential increases!!

Graduate School Landscape: Language, Phrases, Acronyms! Degrees M.S. = Master of Science M.A. = Master of Arts Ph.D. = Doctor of Philosophy Examinations Cumulative exams (or “cumes”), placement exams, qualifying exams, candidacy examinations (PhD, MS) Graduate School Status M.S. student, M.S. candidate, Ph.D. student, Ph.D. candidate (A.B.D. = All But Dissertation) TA (Teaching Assistant) RA (Research Assistant)

Degrees

M.S. = Master of Science

M.A. = Master of Arts

Ph.D. = Doctor of Philosophy

Examinations

Cumulative exams (or “cumes”), placement exams, qualifying exams, candidacy examinations (PhD, MS)

Graduate School Status

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

TA (Teaching Assistant)

RA (Research Assistant)

Graduate School Landscape! Who are the Major Players? Deans, Department Chairs Professors (Assistant, Associate, Full Profs, Research Professors; Adjunct Professors) Lecturers Postdoctoral Researchers Laboratory Technicians Graduate Students

Who are the Major Players?

Deans, Department Chairs

Professors (Assistant, Associate, Full Profs, Research Professors; Adjunct Professors)

Lecturers

Postdoctoral Researchers

Laboratory Technicians

Graduate Students

Show Me the Money! Three Basic Options Fellowships and Traineeships Teaching and Research Assistantships Loans Which option is best for you? Depends on your program

Three Basic Options

Fellowships and Traineeships

Teaching and Research Assistantships

Loans

Which option is best for you?

Depends on your program

Show Me the Money Fellowships or Traineeships Awarded on the basis of academic merit Sometimes portable Usually provides payment of tuition and stipend Diversity-based fellowships Ford Foundation Diversity Fellowships Various disciplines (e.g. American Studies, Geography, History, Chemistry, Economics, Ethnic Studies, Sociology) Annual Stipend: $20,000 (3-years of support) http://www.national-academies.org/fellowships Other portable fellowships (NSF, Javits) Other funding sources (GFIS database, UW Library)

Fellowships or Traineeships

Awarded on the basis of academic merit

Sometimes portable

Usually provides payment of tuition and stipend

Diversity-based fellowships

Ford Foundation Diversity Fellowships

Various disciplines (e.g. American Studies, Geography, History, Chemistry, Economics, Ethnic Studies, Sociology)

Annual Stipend: $20,000 (3-years of support)

http://www.national-academies.org/fellowships

Other portable fellowships (NSF, Javits)

Other funding sources (GFIS database, UW Library)

Show Me the Money! Teaching Assistantships (TAs) TAs help institutions teach undergraduate students in return for a salary (may include tuition) Duties may include teaching a discussion/recitation course, laboratory course, grading papers, and meeting with students, or teaching your own class In addition to TA-ing you still have research responsibilities!!!

Teaching Assistantships (TAs)

TAs help institutions teach undergraduate students in return for a salary (may include tuition)

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

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

Show Me the Money! Research Assistantships (RAs) Most common within the science and engineering disciplines RAs typically work in laboratories to assist faculty in research projects No TA responsibilities, so you can focus solely on research efforts!

Research Assistantships (RAs)

Most common within the science and engineering disciplines

RAs typically work in laboratories to assist faculty in research projects

No TA responsibilities, so you can focus solely on research efforts!

Loans UW Resources http://www.washington.edu/students/sfs/loans/ http://www.washington.edu/students/osfa/graduate/ Money management, completing loan paper work, loan consolidation, etc Be responsible and take only what you need! John Gravois, “Trapped by Education,” The Chronicle of Higher Education (April 6, 2007). http://chronicle.com/weekly/v53/i31/31a01001.htm

UW Resources

http://www.washington.edu/students/sfs/loans/

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

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

Be responsible and take only what you need!

John Gravois, “Trapped by Education,” The Chronicle of Higher Education (April 6, 2007).

http://chronicle.com/weekly/v53/i31/31a01001.htm

Real Example: Me! The Ohio State University Department of Chemistry, 1994-2000 Research efforts focused on inorganic chemistry TA Responsibilities for ~4.5 Years GEM Fellowship for one year; No TA duties

The Ohio State University

Department of Chemistry, 1994-2000

Research efforts focused on inorganic chemistry

TA Responsibilities for ~4.5 Years

GEM Fellowship for one year; No TA duties

Other Funding Tidbits Fellowships, TA and RA appointments are far more common for doctoral students Some institutions guarantee a certain number of years of financial support; others may not “guarantee” support but may give assurances that TA or RA appointments will be available; all base their decisions on satisfactory progress & performance Look at all of your options!!

Fellowships, TA and RA appointments are far more common for doctoral students

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

Look at all of your options!!

Acknowledgements The UW Graduate School Dr. Betty Feetham, Associate Dean GO-MAP Colleagues Mr. Cuauhtemoc T. Mexica Directors, UW NSF Science & Technology Centers (STCs) Clara Sue Kidwell “Graduate School and You: A Guide for Prospective Graduate Students,” Council of Graudate Schools (CGS)

The UW Graduate School

Dr. Betty Feetham, Associate Dean

GO-MAP Colleagues

Mr. Cuauhtemoc T. Mexica

Directors, UW NSF Science & Technology Centers (STCs)

Clara Sue Kidwell “Graduate School and You: A Guide for Prospective Graduate Students,” Council of Graudate Schools (CGS)