<p>You are reading this some-what correctly - many grad programs waive tuition for grad students and provide an amount of money/stipend - that can either cover your living expenses or at least take the sting out of them. It is sometimes handled as a monthly payment to you - over the course of 2 terms per year for ?2 years - for you to manage accordingly - but you need to read further - the stipend is provided for your services as a Faculty Teaching Fellowship - you would most likely have to have other financial support tho - loan/job - to financialy make it thru those years.</p>