Fully funded: what does it really cover?

[Sleam]

Hi folks, I've applied to a few fully funded programs. Thinking positively, I'm looking into housing and moving before hearing back! How much do you think I can afford for housing? Do they give a good living stipend? Or do I still need loans? Any suggestions would be great, thanks. 

[Warelin]

This answer will depend largely on the amount given, the city of residence, and your living style.

15k in NYC won't go far and you'll need roommates since the average cost of rent is more than 3000 per month; 15k in Lexington, KY will allow you to pay the average rent of $740, have a $250 monthly budget for good, a $150 monthly budget for utilities and still have some money left over.

Different programs fund at different rates though and it is unsafe to assume that they've adjusted for cost of living.

[fuzzylogician]

This is really a question for the program, and no one here can answer it. Ask to be put in touch with a few current students and ask them about how far their stipend takes them, where they live, whether they need to have roommates, etc. Usually "fully funded" would mean that you'll be able to afford housing in a reasonable distance from the school, often with one or more roommates, and your health insurance will be covered. Some schools subsidize transportation costs. Some might even help with moving costs. Some will cover dental and vision (many will not). It varies quite a bit, and also depends a lot on the cost of living in your designated city and on your personal habits. The same amount of money might be enough for one person but not for another. 

[Horb]

For my program, I get 20k...in Boston...as a stipend. Is that tight? Yup. But I get full healthcare covered for 5 years and I pay no other fees (tuition/fees all covered). Other programs gave me more or equal money (when comparing cost of living) but I'd have to pay $1000-1500 per year for healthcare and other things. So sure, I could have gotten paid $18,000 to live in Storrs, CT, but after all the stuff taken out for healthcare and what not, I'd be left with equal or less money. Sure, I might have a 1 bedroom instead of sharing a 5 bedroom house, but still. I'd much rather be in a city and make more money.

[Sleam]

Good points, thanks. I'll start looking at rentals in the various places and see what there is. I like the idea of chatting to current students. I'll just keep my fingers crossed that I'm accepted! 

[Le Chat]

Depends by state and programs. One I applied to had full funding which covered rent and living expenses, and at least half of tuition. The other doesn't ever cover tuition (comes short a few thousand.)