The standard financial aid offer is a half-time assistantship paying a stipend of $2,050 per month for first-year students. Assistantship appointments are renewable annually for 4 years for Ph.D. students and for three semesters for M.S. students, provided the student makes satisfactory academic progress and performs duties in an acceptable manner. Funding for a fifth year of Ph.D. studies may be available and is dependent on a number of factors including exemplary performance of duties and normal progress toward the degree. Year two funding for M.S. students will be on a one-half time basis for fall semester or a one-quarter time basis for both fall and spring semesters depending upon which option the student selects.
All complete applications are considered for assistantships. No separate application form is needed. Particularly outstanding applicants will also be considered for fellowship awards in addition to the research or teaching assistantship position.
In addition to the stipend, students on assistantship (1/4-time or greater) are assessed tuition at Iowa-resident rates and, assuming they maintain a 3.0 GPA, are also granted a Graduate College Tuition Scholarship.
Ph.D. students on 1/2-time assistantship receive a tuition scholarship equal to 100% of the resident tuition. M.S. students on 1/2-time assistantship receive a tuition scholarship equal to 50% of resident tuition. Students on assistantship also receive health insurance.
As a member of the Council of Graduate Schools, Iowa State University abides by the Council's Resolution Regarding Graduate Scholars, Fellows, Trainees, and Assistants. Offers of a graduate assistantship will be considered valid until April 15 unless declined at a prior time. If no reply to an outstanding offer is received by April 15, the Department of Economics may rescind the offer.