A stipend is a regular amount of money paid or given as a reward for one’s service to another. It is also money given as an allowance without any services or expectations attached to it. Some of the examples of people who receive a stipend are students, graduate teaching assistant, an intern, and so on.
Stipends can also come from parents who support their children’s academic pursuits. Students usually receive stipends to help them with expenses on books, room, travel, board, and so on. Some students are privileged to receive a much higher stipend than others while some do not receive any at all.
Students who are favored to receive stipends should also see this as an opportunity to have some savings. It is not an opportunity to squander money but one that can be maximized to meet future needs.
Princeton Hines
