One thing I knew about going back for a PhD is that the money was going to CHANGE. Not like I was balling in DC but you get used to a certain lifestyle when you’re working full-time. Maybe it’s just me. One of the things that I’d be willing to bet is the deal breaker for many of us who want a PhD is getting funding. I already have enough student loans to choke a horse with so I didn’t want to take out more loans for this last degree. Yea. LAST ONE. Whew chile! That deserves a praise break.
Anyway, so when I got admitted, there were two options for funding: fellowship or GTA (Graduate Teaching Assistant). A fellowship is usually a funding option that covers your tuition and offers a stipend but with the stipulation that you can’t work. They are literally paying you to just do your studies. Okay cool. The GTA would be me working a faculty member, grading, teaching, proctoring exams, etc. It still covers tuition too but there is the aforementioned work component.
My department had nominated me for the WEB Du Bois Fellowship which funds for 3 years. YAY! Super thanks to my department. A few weeks ago, I was looking at my account and there was a large negative balance. Y’all remember seeing the negative balance on your financial aid? You couldn’t wait ‘cause you knew you were about to get PAID! Okay not really because it was loans but whatever. Indulge me. So I emailed the fellows office to double check I wasn’t tripping. They emailed me back confirming that was, indeed, the amount that I would get from the university. But they made it seem as though I would receive it all in a lump sum.
Okay so while the fellowship isn’t ALOT of money, giving me half of it upfront? That is A LOT of money all at once lol. For me, anyway. And that brought its own irrational fear, right?
I’m used to getting a check every couple weeks
This is the first time in about 5 years that I’ve only had one stream of income consistently.
I’m pretty good with my money but what if I misspend and find myself strapped at the end of the semester?
So then a couple weeks ago, we get a schedule of the monthly stipend schedule. Whew! I felt much better. Now, I will only have to manage a certain amount and I can put my final paychecks in my high-yield savings or an investment account and let my money work for me. Nah mean?
Until…
So it’s the Friday before classes start. And I haven’t gotten paid yet. From my job or for my fellowship stipend. Sigh...
I’m not going to freak out yet but if I don’t get a response back to these emails I sent at 6a, I will be. I have enough to get me through the next month or so if necessary but in my Jenifer Lewis’ voice, “Somebody gon have to tell me SOMETHING!” Cause this AIN’T IT!
Update: I got paid a week later, after several phone calls to the bank and the university fellows office. LOL! Thank goodness!