Different schools have strengths in different parts of the world. Schools vary widely in their strengths and requirements along this axis as well. Ideally we need to be experts on both, but again schools have their strengths and weaknesses, and a careful look at how a given faculty covers these bases is necessary. Talk about these sorts of issues with ethnomusicology teachers and students and you will be able to narrow the field significantly. That's a big maybe, and where a solid application and recommendations probably make a big difference, although I would like to hear what some of you teachers out there have to say about that.
Most schools have some scholarship money.
The questions that must be answered are, how much, for how long, and what is expected in return. Some schools spread it out evenly, so no one gets quite enough to live on and one must make hard decisions about taking out loans, taking on energy-draining odd jobs, etc. Some schools give everyone a great deal for their first year, then subsequently make you scramble. It is good to talk both to administrative types and students about financial aid policy in order to get the clearest picture. I could say more, but I should probably stop.