| Fellowships | ||||||||
| A fellowship is a form of scholarship and does not require any service in
return for the stipend. However, it is taxable income similar to an assistantship
to the extent that the amount received exceeds tuition, required fees, and book
allowance.
Fellowships impact differently from assistantships as far as federal loans are concerned and may reduce the base level of total allowable federal support. It is therefore vital that students contact student financial aid office before accepting a fellowship in order to ensure that their overall aid package is not affected. The budget sub code and occupation code to use for fellowships are:
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