Always full funding during PhD at top private schools?

[tallulah]

Hi,

 

I'm a student from Germany and thinking about applying to US PhD programs at Business Schools and/or Psychology Departments. I would only apply to prestigious schools because otherwise it wouldn't be worth the effort and personal sacrifices for me. If I get it right, top programs at private schools usually give full financial aid to admitted students (no tuition fees, living stipends etc.).

Still, I sometimes read information such as "It is expected that a similar level of financial aid may be awarded for up to 5 years". I get that the money is contingent upon satisfactory progress, but the word "expected" makes me feel a little bit insecure. Does that mean that in some cases, you don't get funding after some years? I couldn't even afford one unfunded year and I would be hesitant to apply to programs where I'd have to worry about that.

 

So, short version: How often does it happen that your funding ends before you're finished (assuming that it takes you the regular 5 years)? Especially at top tier programs?

 

Thanks for any advice!

[Cheshire_Cat]

Business schools in general offer full funding for Ph.D programs.  The programs I've looked at, you can't get a business Ph.D unless you are fully funded by the school.  At least in accounting and marketing programs.  So that means, to me, if you arern't recieving funding, you aren't going to school.  Business research is relitively inexpensive, and business schools get a lot of money from donor alumni and stuff, so usually there isn't quite the scramble for funding as there is in other progams.  From what I can tell, business schools are the only place where this is the norm, everywhere else you have to fight for funding.

[Vene]

From what I can tell, business schools are the only place where this is the norm, everywhere else you have to fight for funding.

I don't know, science and engineering does pretty good with funding. It's rare for a science PhD student to not be funded (even if it's through TAing).

[Cheshire_Cat]

I have a friend who is in a top engineering program, and although he is funded, it is done a lot differently than business.  It's a lot more work.  You have to actually apply for a lot of grants and such and your program may take longer if you don't get them.  Business Ph.Ds are a lot more clear cut with funding their students.

[Vene]

I have a friend who is in a top engineering program, and although he is funded, it is done a lot differently than business.  It's a lot more work.  You have to actually apply for a lot of grants and such and your program may take longer if you don't get them.  Business Ph.Ds are a lot more clear cut with funding their students.

That much I can believe. We do typically get funded by grants, but the work the grants pay for is what we use for our dissertation.

[tspier2]

I was always told and accepted the advice that the good schools are the ones who will pay for you. If the program doesn't have funding available, it's not worth it. You pay for a Bachelors; they pay you for a Ph.D.

[fuzzylogician]

Business schools and PhD programs are very different beasts. Business schools (as in, MBAs) are something you pay for and you do as an investment in your future. They are not usually funded by the school, though some people might get their work to cover their tuition. PhD programs, especially the ones at top schools, will fund their students. This would include the tuition, some reasonable stipend, and health insurance. Usually the offer is for X number of years and it's highly advisable to finish the PhD within that time. If your funding runs out, different schools handle it differently. At some you could take a leave of absence to work on your research without getting paid, then come back to defend. At some, you could be hired as an instructor and that helps pay some tuition and fees, perhaps get you health insurance. Some schools have reduced tuition for students who are done with everything but their dissertation. At yet others, there is not much to do and you'd have to pay full tuition. If you attend a private school, that could be in the 30-40K range a semester, and maybe 10-20K (or more!) for public schools, which are all pretty expensive. If you are concerned about not finishing on time, there are two kinds of questions to ask. First, how long to people usually take to graduate (also: what percentage of students graduate vs. drop out), and second, what happens if you need more time than the funding offer is for? The schools you're applying to should have answers to both of these questions. 

[TakeruK]

Usually when schools say "continued funding dependent on satisfactory progress" means that as long as you don't flunk out, you will be funded. I think it is pretty rare (and highly unethical) for a school to say that "you're not good enough for funding this year, but you can still stay". 

 

It's a really good idea though to ask the school what happens after X years if they say "funding provided for X years".

[tallulah]

Thanks for the answers, that was very helpful!

 

Usually the offer is for X number of years and it's highly advisable to finish the PhD within that time.

 

So, if some schools say that the usual time to finish is 5 years but their financial aid is only guaranteed for 4 years, this still means that I should better be done within 4 years because the 5th year is not guaranteed?

In general I'm not concerned to need more time because I'll already have a masters with a lot of relevant courses and at some schools, I could even transfer some credits. But I'll definitely ask the schools to get a feeling for how this issue is handled.

[Cheshire_Cat]

If funding runs out in 4 years, then you find a job ABD and work while finishing your dissertation.  ABD in business make decent money, but you can only do it for a year or two.

[tallulah]

Depending on the visa, I think I'd only be allowed to work 20 hrs/week, not sure if that would be enough. But good to know that this is an option.