<p>Hello everyone! I have just accepted my PhD programme at Harvard and is given a fellowship. Will a fellowship or a scholarship be better? What should I consider when choosing between the 2? Btw I'm not from US!! Thanks!</p>
<p>Money that you don’t have to pay back is generally called a “scholarship” if it is for an undergraduate degree, and a “fellowship” if it is for a post-graduate degree. Don’t worry about the name. Worry about the amount of money involved, and whether it comes with any strings attached (you have to maintain a certain GPA to keep getting money each year) or bonuses (some named fellowships get you into a specialized seminar or invited to a fancy lunch with rich alumni each year).</p>