Evolving Personal Finance » grad school
Losing My Graduate School Funding
The following is a guest post from Ross at Cash Rebel. He’s a 20-something engineer who writes about frugality, sustainability, and stick-to-itiveness. This is his story about losing funding for graduate school. The year was 2010 and I finally knew what I wanted to do with my life. I’d graduated college with a degree in Mechanical Engineering earlier that year and although tons of recent grads were signing up for grad school because they couldn’t find … Read entire article »
Filed under: grad school
No Summer Plans Yet
Now that the semester is ending (lucky undergrads/professional students!) and spring is in the air, we are getting lots of questions from friends and family about what our plans are for the summer. We are going to Boston over Memorial Day for a wedding (we are taking our own advice and crashing with a friend!) but we haven’t made any other definite plans. We have been invited to a wedding over July 4th weekend in … Read entire article »
Filed under: career, grad school, travel
Disagreement Over Grad Student Health Insurance Taxes
If you want to read an updated version of this post, see Grad Student Tax Lie #6: You don’t have to pay tax on the scholarship that pays your health insurance premium on Personal Finance for PhDs. Kyle and I haven’t filed our taxes yet this year – perhaps because of laziness/procrastination but chiefly because we haven’t yet agreed on our reportable income! The “income” under question is the money used for our health insurance. One … Read entire article »
Filed under: grad school, taxes
Considerations for Grad Students Buying Houses
Many graduate students consider buying a home near their universities, especially when they are just starting a PhD program. I don’t have to tell you that the mortgage rates and home prices in many areas of the country make the prospect incredibly tempting! The problem is that most students are probably like I was when I started my PhD program – single, next to broke, and looking forward to 5-6 years of a ridiculously low … Read entire article »
Filed under: grad school, housing
What Is a Courtesy Letter and Does It Mean I Don’t Have to Pay Taxes?
I think that one of the most confusing points regarding grad student taxes is the nature of the “courtesy letter.” I have personally never received one from my university or funding agency but I know many students in my lab, department, and university who have. You may not even be sure what you have received is a “courtesy letter” at all, but I’ll let you in on a few of it likely characteristics: It’s confusingly worded. It … Read entire article »
Filed under: grad school, taxes
Grad Student Income Tax Site Up!
Hi there! This isn’t a normal posting day for EPF but I am just so excited to share this info with you I had to break the routine! The grad student income tax website that I’ve been working on for the past few months is now live! My partner, who works in the student loan office and is a CPA, did most of the writing and compiling and I helped in the research and editing to ensure that it addresses the particular tax challenges that grad students face. I think this is a great resource for students at our university and across the US. I hope fellowship recipients find it useful as they are preparing their taxes. If you have any comments or constructive criticism regarding the information or presentation, please email me … Read entire article »
Filed under: grad school, taxes
Egg on My Face: Grad Students and Payroll Taxes
I feel very silly! Here I am trying to set myself up as a reliable (but not professional!) source for information on the special PF situations graduate students find themselves in, particularly with respect to taxes, and I was overlooking something very obvious for years in my own finances! This all started when I had a post idea about for what I wish I’d used my 2% payroll tax break (and asking you what you wish … Read entire article »
Filed under: grad school, taxes
How to Tell If Your Means Are Just Not Enough
I write quite often on this blog about the virtue – nay, requirement – of living within your means. Even though I am earning a salary that many would consider laughable for my education and experience, I am determined not only to live within my means but give and save as well. I think everyone else should strive for this too – whatever your income, you shouldn’t be running up debt for your living expenses. However, … Read entire article »
Filed under: budgeting, choices, debt, frugality, grad school
Tax Lies Told to Graduate Students
Update February 2016: This short post has been expanded to a 10-part series of common grad student tax lies on Grad Student Finances. Check it out for more detail, explanation, applicability, references, etc.! My little university community service project for this fall is working with a staff member to compile a comprehensive reference document for graduate students preparing to file their taxes. The purpose is to help graduate students make sense of the tax-related forms they … Read entire article »
Filed under: grad school, taxes
Living Your Real Life Now
Something I hear often from grad students (and say often myself) is “When I have a real job…” followed by some fantasy about the future like saving for a house downpayment or going on a big vacation or not being in the lab after midnight. Since these sentiments come out of my mouth, too, I obviously understand where they’re coming from. In grad school, like in college, during an engagement, or just before starting a family, there is a sense of now-but-not-yet. I have this life and it’s not quite what I want it to be because there is a waiting period, a working period until I can achieve something that will usher my life into its next stage. But the fact is that just because I don’t have a real job … Read entire article »
Filed under: choices, grad school, values
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