<p>Dear Grads and Parents:</p>
<p>A question about grad school finance. My son has a governer's award (from California) held in interest-bearing account by a state-appointed administrator firm. We were told he has until his 30th birthday to apply toward tuition. He's entering his 4th year in undergrad and has not use the award money yet, thinking hes saving it for grad school. However, since most grad programs (possibly a PHD program) waive tuition, and pay a stipend on top of it,there's no place where he can apply this award money$, isn't it ? Should he withdraw the $ now and use it toward the current school year? Anyone with similar experience or know of someone in same situation? </p>
<p>Your replies/advice are most appreciated.</p>
<p>If he decides to go for a masters, there is a high chance it will NOT be funded. As for a PhD, I think you are supposed to mention what aid you've been offered and you could still use it then and then get a stipend from the university itself. Hats off to your son for getting an award he can use anytime before he's 30 :-O</p>
<p>Thank you for your reply !</p>
<p>Am I naiive to think in a PHD engineering program the students have no school expenses since tuition is usually waived and gets a stipend$ ?</p>
<p>Are there expenses my S can offset the scholarship$ ?</p>
<p>TYIA</p>
<p>There are other expenses besides tuition. Fees, insurance, books, and various other research and conference fees that will crop up.</p>
<p>Although DeepSeek and I disagree about everything, I will agree with her that costs crop up fast in graudate school. even for funded students. Any extra cash your son could come by would make a huge difference in the financial pressures he would face wile going through grad school.</p>
<p>I totally agree about extra costs -- lord knows I'd love to have some extra money lying around, and stipends are often inadequate.</p>
<p>Unfortunately, not all programs would allow an external funding source to increase a student's income. The programs with which I'm familiar would happily use the outside tuition money to fund tuition, but wouldn't increase the student's stipend at the same time. I'm sure this varies by program, and the OP would have to check the policies of programs in which his son was interested.</p>
<p>hmm, I was afraid of that. You have a grant socked away for grad expenses, and it went to the school. There's no simple rule anymore. Thanks for that perspective.</p>