Fellowship Financial support to reduce the cost of a graduate student's education. Some fellowships include a tuition waiver or a payment to the University in lieu of tuition. Fellowships may include stipends to cover living expenses. Students receive payments to assist them in pursuing a course of study or research. This payment is not a payment for teaching, performing research, or other services.
Fellowships are taxable income to the recipient.
Financial Aid Money provided to a student to help pay for the student's education from federal, state, institutional, and private sources. Financial Need A federally mandated calculation. Standard cost of education less the family's contribution equals the student's financial need. An individual working toward a post-Baccalaureate degree or certification. Loan Financial support which must be repaid, usually with interest.