<p>Ugh, can't spell, I meant stipends and taxes in the title.</p>
<p>This question is just out of curiosity, since I haven't even applied to all my schools yet. But are stipends taxable and if they are (I'd assume they are, why wouldn't they be), how much do you get left with in the end? Say I go to UChicago where the stipend is 27,000, at the end of the day how much would I end up pocketing? How about in NYC with a 33,000 stipend? </p>
<p>I guess my primary concern is, in Chicago, on that stipend, it is possible to live in a studio or one-bedroom apartment... ie, live alone?</p>
<p>Stipends are taxable, both on the state and on the federal level. The one upside is that you don’t have to pay FICA on most stipends. Most universities will not withhold money from your stipend, you have to pay quarterly. Its a bit complicated, but I end up paying about $650/qtr in federal taxes on a $30k stipend, and about $400/qtr in state taxes. I don’t know about the housing prices in chicago, but in boston its doable to live in a studio on the stipends, although you will probably have to cut back in some other area of your life (ie no car, don’t eat out as often, etc). The one bedroom is a bit harder, unless you’re more willing to compromise on location and/or quality of apartment. In NYC you really can’t live on a stipend, but most schools have semi-subsidized housing that is more affordable. Most of the time there aren’t many one bedrooms or studios in that sort of housing, unless you have a partner living with you.</p>
<p>Ah okay. Yes, it seems that 27,000 in Chicago goes much further than 33,000 in NYC. That’s pretty important to me because I do not want to live with other people. And yes, I don’t/won’t own a car and I never eat out/drink (that’s really where the money goes, anyway) much so those things are not a problem. Good to know. So, in total you get $25800??</p>
<p>I get by just like any other lower middle class 20 something on 26.5K. I have a modest car, niceish apartment, cable etc. Admittedly, I live in a cheaper area than Chicago, but it’s not that much cheaper.</p>
<p>I receive about 2K once a month and find that it goes pretty far. For comparison, I was receiving a check for 2100 per month when I worked as a tech even though may pretax salary was about 35K. One first year in a different program at my university is actually netting more as a grad student than she was as a tech.</p>
<p>Thanks belevitt That makes me happy. People keep saying Chicago is very expensive, but where I live, rent for a downtown bachelor/studio is ~$850 at the very least. Sometimes single rooms in a shared house usually start at $500 p to $650 or so… I don’t know… it is all relative.</p>
<p>My first year in grad school, I supported both myself and my husband on my stipend. It was tough, but doable, and Boston is a very expensive city.</p>
That makes me happy. People keep saying Chicago is very expensive, but where I live, rent for a downtown bachelor/studio is ~$850 at the very least. Sometimes single rooms in a shared house usually start at $500 p to $650 or so… I don’t know… it is all relative.</p>