In many cases, the terms Fellowship and Scholarship are used interchangeably, although frequently a Scholarship does not involve a stipend as does a Fellowship and covers only tuition and education-related expenses. A Teaching or Research Fellowship combines institutional responsibilities with a part-time study schedule. Fellowships may be supported by the institutions themselves or by various outside agencies. With the notable exceptions of national fellowships, most are controlled through the graduate institutions. An Assistantship is a form of institutional aid designed not only to provide for financial support of graduate students, but to meet institutional needs in teaching and research as well.
Duties vary considerably.
A graduate student may be asked to undertake dormitory supervision, to read students' papers, to be responsible for recitation sections, to teach formal classes or to undertake advanced research projects. Assistantships are often reserved for more advanced level students, although first- year students may also qualify. If an assistantship is accepted, realize that time for study will be limited and work responsibilities will have to come first in priority. An assistantship can be a most valuable type of professional experience, especially when teaching or significant research is involved. Since this may lengthen a degree program, it may be wiser to consider a loan as a supplementary means of support in order to complete the degree more quickly.