FAQs about funding

[asquare]

Yes, it can be harder to get funding for international students, especially at public universities. But conditional on getting funding, the amounts are uncorrelated with whether one is a domestic or international student. In other words, I don't think that schools give international students extra money because they face extra expenses.

[treblekicker]

For public schools, does being in state or out of state effect funding at all?

[ska]

If some one is goin to University of Maryland College Park he may as will check the following link out.....
Ryan Banerjee

[asquare]

I've read Ryan Banerjee's cost of living statements. They are certainly eye-opening, though I think they might be a little misleading: he divides by the number of weeks in the calendar year, while the stipend is intended as support through the academic year. Students are expected to seek other support during the summer. Still, the figures are sobering.

[ska]

Originally Posted by asquare

I've read Ryan Banerjee's cost of living statements. They are certainly eye-opening, though I think they might be a little misleading: he divides by the number of weeks in the calendar year, while the stipend is intended as support through the academic year. Students are expected to seek other support during the summer. Still, the figures are sobering.

What are the various possibilities open to us in summer as graduate students and what can one earn on the various opportunities?

[adam_smith]

You can make $7,000 - 10,000 for 2-3 months waiting tables (New Jersey, Cape Cod, Maine, Virginia...may be even California. Which would not be impressive on you CV, but can pay bills. Gourmet Menu Field Study

[ska]

Originally Posted by adam_smith

You can make $7,000 - 10,000 for 2-3 months waiting tables (New Jersey, Cape Cod, Maine, Virginia...may be even California. Which would not be impressive on you CV, but can pay bills. Gourmet Menu Field Study

Thanks a lot, Adam Smith. your response was really informative and illuminating. You have opened new vistas of opportunities for graduate students.

[asquare]

Originally Posted by ska

What are the various possibilities open to us in summer as graduate students and what can one earn on the various opportunities?

There are many. The big decision is whether to stay on campus, or to do an internship/fellowship somewhere else.

Most public schools have university-wide summer funding opportunities that graduate students can apply for. There are also sometimes departmental funds for summer research. Some funding pays for you to be an RA for a professor; other funding is essentially a stipend to enable you to do your own research. Some schools also have summer TA positions available. Funding is generally similar to what you'd get for the same amount of work during the school year: at Michigan, it's approximately $20/hour for RA work, something like $3000-$4000 for being a TA for the summer term.

There are also a number of research internships for PhD students. These positions may assign you some work for the institution that hires you, or they may just be residencies that provide workspace and funding for you to pursue your own work. CBO, the various Federal Reserve branches, RAND, and many other organizations offer these positions. Pay for these varies; the Feds are often quite generous ($8000-$10,000 for the summer).

A less research-focused option is to get an internship with an investment bank or economic consulting firm. You'll make a lot of money but not much progress on your own research.

A short term option is to apply for summer school programs. These are typically 2-4 weeks of intense study of a particular field or methodology (for example, complex systems). Expenses are typically covered. You wouldn't come away with money in your pocket but would be fed and housed for the duration of the typical program, though there are also a few that actually charge tuition.

[Rick's Cafe AmerEcon]

Thanks for all the great info in this thread so far!

Originally Posted by Zymm

Sorry, know I'm new here, but I registered specifically to post this one bit of advice. If you don't get into any programs you like, take a year off or do a masters. Do NOT, under any circumstances, go into a Ph.D. program unfunded. It's true many people recieve funding in your second year, but you lose a lot of valuable social contacts in your first year that make it really hard not to slip through the cracks. You'll have difficulty finding an advisor, and even if you do manage to make it to graduation, it will be much later. If you have a choice between 2 programs, one with funding and one without, hands down take the funding even if it's a worse school. Programs take care of people they fund because they have an investment in them. Unfunded students are lowest caste of the graduate world.

This comment showed up in another thread, and I was just hoping to hear some different perspectives on it, since this is the central place for information on funding. It appears to be at odds with asquare's statement that your funding status is between you and the director of graduate studies.

[asquare]

Rick, I strongly disagree with Zymm's statement. I don't think that any of your classmates or professors will know whether or not you have funding unless you tell them. That's certainly the case at U-Mich. There is absolutely no difference in social contacts, advising, or anything except for who pays the first year bills for funded and unfunded students.