The following are the most common ways that graduate degrees are funded:

1. External research fellowships (most prestigious)
   1. Awards funded by National Science Foundation (NSF), Department of Defense (NDSEG), Hertz Foundation, Ford Foundation, etc.
   2. Open to MS and PhD students (more likely to get if you’re applying for PhD programs)
   3. They pay tuition and a healthy stipend for three or more years
   4. Can be used at any school
   5. Applications processes can be very competitive
2. School-funded research fellowships
   1. Awarded by individual departments to cover tuition/stipend for one to five years (the longer ones are more rare)
   2. Open to MS and PhD students (more likely PhD)
   3. Allow choice of research advisor
   4. Limited numbers available
3. Research assistantships (‘RAs’)
   1. Awarded by individual faculty members
   2. They pay tuition and a stipend on year-to-year basis (usually guaranteed for fixed period, e.g. two years)
   3. Usually associated with a specific research project and a specific advisor
   4. Possible for master’s students to get these – more likely at larger schools
4. Teaching assistantships (‘TAs’)
   1. Awarded by individual departments
   2. They pay tuition and stipend on term-by-term basis
   3. Fully funded multi-term TA-ships typically only available at departments with large undergraduate programs, especially large public schools
   4. Open to MS and PhD students