Section Two
STUDENT LIFE

LIVING EXPENSES

Finances are a major concern for most graduate students and their families. Although some students come with strong financial support from their families or governments, almost all graduate students need to plan carefully for their graduate student years. Long-range planning is important for single students as well as for students with families. Stanford fellowships and assistantships are designed to cover most of the expenses of single students; they are not sufficient to cover the expenses of dependents.

It is difficult to generalize about the cost of graduate education because expenses vary considerably from person to person. It is probably safe to say that few if any students find that the total figure for their graduate education is less than they expected, and most find that it is substantially more. Each year the Financial Aid Office develops an estimate of graduate student expenses which is used to determine maximum loan eligibility for U.S. citizens and permanent residents as well as eligibility for visa authorizations for international students. This estimate, which is printed in the Guide for Graduate Students mailed to newly admitted students (also available on the web at http://registrar.stanford.edu/pdf/gradstuguide.pdf, a pdf file), is extremely helpful as an indicator of minimum annual expenses. However, it is a common experience for actual expenses to exceed this figure by several thousand dollars.

The reasons for this difference are not hard to seek. We live in an area where the costs of such major items as off-campus housing and automobile insurance are comparatively high; so, too, are the costs of air travel for anybody who visits family or friends outside California. Costs for full-time daycare can range upwards from $1000 per month. In looking ahead, Ph.D. students should bear in mind that, while some complete their program requirements in four years, most do not; the average time to degree is closer to six years. Over such a period, it is easy to build up a sizable debt. Another factor which contributes to the build-up of debt is that tuition, insurance, and campus housing rates tend to increase each year. Students with limited personal resources or family financial support will find it helpful to consult an adviser in the Financial Aid office who can help them review their budgets and provide an analysis of the effect of loans on their future finances. For an appointment, call the Financial Aid Office at 723-0358. For further information about loans, teaching and research assistantships, taxes, and other financial matters, see the subsection on finances in Section One.

Most students find it helpful to plan their budgets for the year so that they are not unduly surprised. Budget categories that other students have found helpful include:

• Housing (rent, utilities, furnishings, cleaning, minor repairs)
• Food (including beverages, meals at home and occasional meals out)
• Apparel, Personal Needs (clothing, shoes, toiletries, laundry)
• Transportation (fares, vehicle operating expenses, parking, insurance)
• Medical (insurance, co-payments, uncovered medications)
• Entertainment (movies, events, magazines/newspapers)
• Books (for courses and outside research)
• Taxes (state and federal)
• Travel (to visit friends and family for holidays)
• Professional (journal subscriptions, association memberships, conference travel)
• Child Care
• ASSU Fees (quarterly special fees)
• Tuition/Document Fee (assessed only once)

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