fully funded phd in finance in usa

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Finance Department | PhD Program

Phd program.

Our faculty, ranked #1 worldwide based on publications in top finance journals (ASU Finance Rankings), consists of more than 30 researchers who study all major areas of finance, making it one of the largest finance faculty in the country. Stern’s finance faculty is highly rated in terms of research output, and faculty members sit on the editorial boards of all major finance journals.

The finance department offers an exceptionally large range of courses devoted exclusively to PhD students. Apart from core PhD courses in asset pricing and corporate finance, students can choose from a range of electives such as household finance, macro-finance, and financial intermediation. PhD students also enjoy the benefits of Stern’s economics department, NYU’s economics department in the Graduate School of Arts and Science (GSAS), and the Courant Institute of Mathematics.

Graduates of Stern’s Finance PhD program have been placed at leading research institutions such as Harvard, MIT, Chicago, Stanford, Wharton, Yale, and UCLA.

Holger Mueller , Finance PhD coordinator

More information on the Finance PhD

Download the Finance PhD poster (PDF)

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PhD Program

• Program of Study

Wharton’s PhD program in Finance provides students with a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics.

The department prepares students for careers in research and teaching at the world’s leading academic institutions, focusing on Asset Pricing and Portfolio Management, Corporate Finance, International Finance, Financial Institutions and Macroeconomics.

Wharton’s Finance faculty, widely recognized as the finest in the world, has been at the forefront of several areas of research. For example, members of the faculty have led modern innovations in theories of portfolio choice and savings behavior, which have significantly impacted the asset pricing techniques used by researchers, practitioners, and policymakers. Another example is the contribution by faculty members to the analysis of financial institutions and markets, which is fundamental to our understanding of the trade-offs between economic systems and their implications for financial fragility and crises.

Faculty research, both empirical and theoretical, includes such areas as:

• Structure of financial markets
• Formation and behavior of financial asset prices
• Banking and monetary systems
• Corporate control and capital structure
• Saving and capital formation
• International financial markets

Candidates with undergraduate training in economics, mathematics, engineering, statistics, and other quantitative disciplines have an ideal background for doctoral studies in this field.

Effective 2023, The Wharton Finance PhD Program is now STEM certified.

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• Meet our PhD Students
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PhD in Management Program

A phd in management: where business research and education intersect.

Become an industry thought leader while preparing tomorrow’s business leaders.

Our fully funded PhD in Management is designed for ambitious students and professionals interested in a career in university teaching and research.

This residential program, based at the Samuel Curtis Johnson Graduate School of Management in Ithaca, NY, combines Ivy League rigor and real-world relevance to prepare you for successful careers in academia.

Why Get a PhD in Management?

With a strong focus on management science and applied research, this doctoral degree is ideal for someone looking to teach at the university level and contribute to the greater body of industry knowledge. Pursuing a PhD in Management is also an ideal next step for executives and senior managers who want to make a transition to academia or enhance their research skills for a successful consulting career.

Fully Funded, Highly Flexible: What Makes Cornell’s Management PhD Different?

As you explore PhD programs’ degree requirements, faculty engagement, and campus experience, Cornell stands alone.

In Cornell’s highly flexible program, you’ll choose a specific area of study and build your own dissertation committee. Our program faculty are genuinely interested and invested in your intellectual development. In this small and highly selective program, you will get to know the faculty and your peers well.

The SC Johnson Graduate School of Management is home to leading research centers and a high-impact academic journal; these open you up to unique learning and mentorship opportunities.

Business Simulation Lab

The Debra Paget and Jeffrey Berg Business Simulation Lab facilitates in-person and online behavioral research related to decision-making and problem-solving.

Discover More About BSL

Our Three-Pronged Approach to a PhD in Management

The Johnson School’s doctoral degree in management combines the best of theory and practice, building on a three-pronged foundation:

Hands-on Experience

Develop your research and analytical skills. You’ll work with classmates to examine existing literature and theories for class deliverables, which will often include your own original research.

Customizable Curriculum

Design your own academic pathway. You’ll choose one of six primary areas of study and create your own dissertation committee.

University-Wide Coursework

Draw on the expertise from across Cornell. You’ll get to select graduate-level courses from schools and colleges devoted to law , hospitality , engineering , labor relations , and other fields.

At a Glance: Cornell’s Fully Funded PhD in Management

The fully residential, fully funded PhD in Management program includes a tuition waiver and a stipend for living expenses. Here’s a quick overview of what to expect:

Degree Awarded

PhD in Management

Program Location

Ithaca, NY, with options in New York City

Program Format

Foundational coursework, original research, and six potential areas of study

Hear from Our Community

“PhD is a marathon, not a sprint, and collaborating with great people is paramount. At Cornell, I’ve found a place where amazing people come together, supporting my research and personal growth. Choosing Cornell means joining a community that knows how important it is to work with exceptional people to excel in the program.” – Elina Hur PhD ’23

Customize Your Path: Our Areas of Study

When you apply to the Johnson School’s PhD in Management, you will select a primary area of study. Choosing a concentration allows you to gain specialized skills and knowledge while growing a portfolio of original research.

Examine the role of accounting information in firms and financial markets. PhD-level research at Cornell explores topics such as how firms report information to investors, how accounting information is used to manage firms, and the nature of auditing.

Strategy & Business Economics

Use modern tools and methodologies to gain a better understanding of the world. PhD students in this area explore many aspects of economics including industrial, behavioral, labor, and organizational.

Dive deep into the financial structure and issues of organizations. Your research might look at how conflicts of interest affect corporate policy, how investor psychology affects asset pricing, or how to detect price bubbles.

Learn how theories from operations research, economics, psychology, and sociology intersect to inform corporate and consumer decisions. Your PhD studies will explore both quantitative and behavioral perspectives of marketing.

Management & Organizations

Prepare for a research-focused career in academia or industry. This versatile concentration develops skilled, innovative, analytical researchers through a broad curriculum and close faculty collaboration.

Operations, Technology, & Information Management

Develop the technical skills and behavioral analysis knowledge you need to address high-impact managerial decisions. This focus area also offers an option to complete coursework at Cornell Tech in New York City.

Idea Generation to Publication: A Career in Teaching and Research

The majority of our PhD in Management students pursue careers in academia. After graduation, many land tenure-track teaching positions at top-tier business schools and continue to advance knowledge through original research. Johnson School PhD students often field multiple offers and see starting salaries range from $150,000 to $250,000.

Finding Your Place at Cornell: Meet Our Current PhDs

Students from around the United States and across the globe arrive at the Johnson School to earn their PhD in Management—and their diverse research interests, educational backgrounds, and professional experiences make for a vibrant, enriching learning environment.

MEET CURRENT PHD STUDENTS

Research and Placements: Making an Impact in the Management Field

After earning the PhD in Management, our alumni go on to teach and inspire future leaders at top-tier institutions. Not only do they teach and conduct research alongside some of the most brilliant minds in business, but they also advance the field through publishing in leading journals and presenting their work at industry conferences.

Recent PhD in Management Placements

• Piyush Anand, PhD ’21, assistant professor of marketing, Jones Graduate School of Business, Rice University
• Guarav Kankanhalli, PhD ’20, assistant professor, Joseph M. Katz Graduate School of Business, University of Pittsburgh
• Eunjee Kim, PhD ’21, assistant professor, Mays Business School, Texas A&M University
• Sarah Lim, PhD ’21, assistant professor, Gies College of Business, University of Illinois Urbana-Champaign
• Xuege Lu, PhD ’22, assistant professor, Carlson School of Management, University of Minnesota
• Subrina Shen, PhD ’21, assistant professor, McCombs School of Business, University of Texas at Austin

Recent Research Publications

• “ Do Real Estate Values Boost Corporate Borrowing? Evidence from Contract-Level Data ” in the Journal of Financial Economics (2022) — Gaurav Kankanhalli, PhD ’20, with Murillo Campello, Robert A. Connolly, and Eva Steiner
• “ Converging Tides Lift All Boats: Consensus in Evaluation Criteria Boosts Investments in Firms in Nascent Technology Sectors ” in Organization Science (2021) — Xirong (Subrina) Shen, PhD ’21, with Huisi (Jessica) Li, PhD ’20, and Pamela S. Tolbert 
• “ Initial and Longer-Term Change in Unit-Level Turnover Following Leader Succession: Contingent Effects of Outgoing and Incoming Leader Characteristics ” in Organization Science (2020)— Huisi (Jessica) Li, PhD ’20, with John Hausknecht and Lisa Dragoni

“ Does Regulatory Jurisdiction Affect the Quality of Investment-Adviser Regulation? ” in American Economic Review (2019) — Alan Kwan, PhD ’17, with Ben Charoenwong and Tarik Umar

Our Faculty: Accomplished Researchers, Dedicated Teachers

When you join the PhD in Management program at the Johnson School, you’ll be part of a learning community comprising more than 100 accomplished academics and thought leaders. 

Not only will you take courses with renowned professors from across the Cornell SC Johnson College of Business, but you also will have the opportunity to build your own faculty committee—a group that will become instrumental as you select your dissertation topic and embark on your original research.

Faculty Spotlight: Learn from Leading Thought Leaders

Throughout the PhD program—from foundational coursework to your dissertation—you’ll work closely with dedicated teacher-scholars like these:

Kristina Rennekamp

Dr. Rennekamp’s research focuses on financial accounting from a behavioral perspective. She’s widely published, with work appearing in leading academic journals such as The Accounting Review , Contemporary Accounting Research , and The Journal of Financial Reporting .

Karan Girotra

Dr. Girotra studies the digital transformation of companies, whether it’s looking at emerging tools and practices or exploring new business models. He’s frequently interviewed in an array of mainstream business media outlets, including Bloomberg BusinessWeek , Fortune , and Forbes .

Kaitlin Woolley

Dr. Woolley studies the psychological processes behind consumer motivation. She’s an award-winning educator and researcher with work published in academic journals and national media outlets including the Journal of Consumer Research , Journal of Marketing Research , and The Wall Street Journal .

EXPLORE JOHNSON SCHOOL FACULTY

What You’ll Learn: Curriculum Overview

As you pursue your PhD in business management, you’ll begin with a set of foundation courses and progress into advanced coursework in your area of interest. Through it all, your faculty committee will help make sure you’re on the right track.

Foundational Management Coursework

Early in your doctoral program, you will complete foundational coursework in management and other fields. Many of these will focus on the research process and prepare you for your dissertation.

Advanced Coursework in Your Concentration Area

As you progress in the PhD in Management program, you’ll take electives and advanced courses that align with your research area of interest; these classes can be in the Johnson School and across Cornell.

Your Dissertation: Creating Original Research

During the final part of the program, you begin work on your dissertation—the culmination of your original research. You choose the topic of research in conjunction with your committee.

VIEW PROGRAM SPECIFICS

Beyond Business: Cross-Disciplinary Collaboration and Dialogue

Tap into the experience and expertise of faculty members from across Cornell University.

Management is a broad science. Business leaders serve in a variety of roles in industries of all kinds: healthcare, consumer goods, agriculture, biotechnology, media, and consulting to name just a few. At Cornell, you can enrich your education and expand your research opportunities by taking courses and finding mentors beyond the college of business.

Explore fields like computer science, psychology, sociology, communication, engineering, and data science—and then connect the dots back to your management research.

Interact with peers and professors from other disciplines by participating in student organizations and special interest groups or by attending public lectures, workshops, and networking events.

Admissions Overview: How to Apply to the Management PhD Program

The ideal candidate for the Johnson School’s doctorate degree in management will have a strong record of academic excellence, a solid understanding of the research process, and an entrepreneurial approach to problem-solving. An MBA or master’s degree is not a requirement for admission. 

Our admissions page offers more details about program prerequisites, selection criteria, requirements, deadline information, and a checklist of materials you need to submit with your application.

Connect With Cornell Admissions

The Johnson School admissions team is available to answer your questions about the program and the application process. Stop in or reach out by phone or email today.

253-D Sage Hall Johnson Graduate School of Management Cornell University Ithaca, NY 14853-6201

Phone: 607-255-5340 Email: Graduate Research Programs Office

The Cornell Campus: Where You Will Learn, Grow, and Thrive

Learn, grow, and thrive on one of the most beautiful college campuses in the United States. As a PhD student, you’ll spend a lot of time in Sage Hall, a Gothic-style building dating back to 1875. You’ll find more high-tech learning spaces just off campus at the Breazzano Family Center for Business Education. You’ll also have access to the innovative campus of Cornell Tech in New York City—particularly relevant to students focused on technology and information management. 

Attending Cornell also means you’ll call Ithaca, NY, home for about five years. Our eclectic downtown is full of eateries, shops, activities, and all of the amenities you’d need for everyday life. When you’re not in class or studying, you can explore all that the Finger Lakes region has to offer.

PhD in Management FAQ: What You Need to Know

Before you apply to a research-focused graduate program, you’re likely to want to do some deep research of your own. For instance, how does a fully funded PhD in Management work? What’s the typical completion time?

We have a robust Frequently Asked Questions section to help you learn more about our program, the admissions process, and dissertation requirements. For our international applicants, you’ll also find specific details about earning your PhD in Management.

May I speak to someone about my interest in the program and visit?

You are welcome to reach out to any professor with whom you see a good research fit. Our website also has a wealth of information about the program.

Is an interview part of the process?

We offer interviews only to a few applicants after their first screening.

May I talk to a professor or advisor?

You are welcome to contact any professor with whom you see a research match. Faculty are more likely to respond to specific research queries.

I have questions; may I write to this program email address?

Yes. Our response time will vary. We are not able to answer detailed questions that are better assessed by faculty during the application process.

May I schedule a campus tour?

Admissions does not offer campus tours for PhD program applicants. However, you may arrange an appointment with a faculty member.

Fraud alert – beware of third-party post-doc scams.

Cornell University recently has been made aware of fraudulent activity targeting overseas students and researchers, including at least one third party website falsely stating that it is offering a postdoctoral or visiting scholar program in association with Cornell. These scams, which may seek to obtain money and/or personal details from interested applicants, are fraudulent. 

Cornell wishes to warn the public about these fraudulent activities being perpetrated purportedly in the name of Cornell, and/or its officials. Please be advised that: 

• Cornell does not, nor has it, worked in collaboration with third-party companies or organizations to offer postdoctoral or research certificate programs.
• Third parties do not collect tuition or fees on behalf of Cornell.
• Cornell does not work with or endorse such organizations including, but not limited to, Shanghai Lufei Education Technology Co., Ltd. (Chinese name: 上海璐斐教育科技有限公司) and Shenzhen Guoyan Era Education Technology Co., Ltd. (Chinese name: 深圳市国研时代教育科技有限公司).

Cornell’s postdoctoral positions are listed on the Academic Career Opportunities website and postdoctoral fellowship programs are available for viewing. If you suspect a third party of falsely advertising a Cornell program, please notify [email protected]. Victims of such scams may also report them to their local law enforcement authorities for appropriate action.

Start the Application Process Today

Ready to apply to our highly selective, fully funded PhD in Management? We look forward to learning more about you and your research goals. Start the application process today at the Cornell Graduate Admissions website. [You’ll first need to register for an account or log in to an existing one.]

• PhD Funding in the USA – A Guide for 2024

PhD Funding in the USA

Written by Ben Taylor

Many of the world’s top research universities are based in the USA, so it’s no surprise that it’s an extremely popular destination for PhD students.

Although the USA has a reputation for being an expensive place to study, there are also some fantastic opportunities for PhD funding (including many fully-funded PhD programmes for international students).

This page will give you an introduction to the cost of a typical doctorate in the USA, as well as a guide to some of the most generous forms of PhD funding available at American universities.

On this page

American phd funding – what you need to know first.

As we’ve already mentioned, the USA has an expensive reputation – but you shouldn’t let that put you off.

There’s a reason why such a large number of American universities can be found among the top-ranked in the world: many institutions have huge budgets and endowments, allowing them to offer generous fully-funded PhD scholarships to graduate students (regardless of nationality).

These are a few key points to bear in mind when beginning your search for PhD funding in the USA:

• Public universities in the United States differentiate between in-state and out-of-state when it comes to fees, so you won’t necessarily be charged more than an out-of-state domestic student if you’re an international student
• Private universities don’t distinguish between domestic and international students
• It’s common for universities to offer ‘full-ride’ PhD scholarships to talented grad students
• The Fulbright Commission administers several funding schemes for international students to complete their research in the USA
• Federal student loans are available to US nationals

The cost of a PhD in the USA

With a huge range of universities offering PhD programmes in the USA it’s no surprise that American PhD fees vary a lot. They also tend to be exaggerated or otherwise misreported based on very high figures for prestigious Ivy League universities. These aren’t typical.

Actual fees vary between public and private institutions and sometimes depend on a students’ residency status:

• Public institutions charge an average of $12,394 per year for in-state students on graduate programmes. Be aware that fees for out-of-state students (including international students) are higher than this.
• Private institutions charge an average of $26,621 per year for all students on graduate programmes.

These figures are based on data published by the US National Center for Education Statistics . As a general rule, public institutions will be cheaper than private institutions, but will charge a higher out-of-state fee to international students. This can mean that the actual difference in fees is smaller than it seems above. Private institutions, on the other hand, may have more funding available.

The best way to get a sense of the tuition fees you will actually pay for a US PhD is to look up a few programmes in your subject and compare their prices. Just make sure you’re comparing the same thing: some universities will list fees per year, whereas others may list fees per semester or per credit.

In-state vs out-of-state

US universities don’t distinguish between international students and domestic fees in the same way as the UK. But public universities do differentiate between students from inside or outside their state. This is because ‘in-state’ students have their education partly subsidised by their state government. As an international student you’ll pay the same fee as a US student from ‘out-of-state’.

Living costs

The sheer size of the USA makes it almost impossible to offer accurate figures for student living costs across all 50 states. So we haven’t. You should definitely include this in your research and preparation though. Some parts of the USA are much more affordable than others. Your university’s international office may be able to help provide a sense of typical graduate student expenses for rent, groceries and travel.

See our guide to living in the USA during a PhD for more advice.

Other expenses

American universities will usually charge additional fees for processing graduate school applications. You’ll also need to budget for admissions tests, language tests and your visa.

Fulbright Postgraduate Scholarships

The US-UK Fulbright Commission is an organisation dedicated to fostering research connections between the United States and the United Kingdom.

Every year they offer postgraduate scholarships to talented British students to help them study at an American university (and vice versa).

A Fulbright Postgraduate Award offers the following benefits:

• A contribution towards your tuition fees (this could cover the first year of fees or fully-fund the entire degree, depending on the award and institution)
• Health insurance cover
• Visa sponsorship

Fulbright Scholars will also gain valuable networking opportunities through a global alumni organisation, as well as support during their studies from the Institute of International Education (IIE).

There are a range of Fulbright Postgraduate Awards available, with some providing a fully-funded PhD degree and others only offering a one-year tuition fee waiver. You can check out the Fulbright Postgraduate Scholarships on their website.

Eligibility for Fulbright Postgraduate Awards

The main eligibility requirement for a US-UK Fulbright Award is, unsurprisingly, that you must be a British citizen. However, if you’re a foreign national settled in the UK you may also be able to apply.

You’ll also need an undergraduate result of at least a 2.1 (although a 2.2 may be accepted on a case-by-case basis).

As the primary goal of the US-UK Fulbright Commission is to foster new connections between the countries, the ideal candidate won’t have spent more than six months in the United States already.

Applying for a Fulbright Postgraduate Award

The application process for a Fulbright Award usually opens in August, with a deadline in early November.

You’ll need to make an online application with the following documents/details:

• Academic transcripts
• Passport photo
• Personal statement
• Research objectives

You’ll also need to complete a separate application to the university you want to do your PhD at.

Shortlisted candidates will be invited to attend an interview in the following February.

Other Fulbright PhD scholarships

The above information focuses on the US-UK Fulbright Commission, which is part of a much larger network of organisations devoted to helping talented international students attend American universities.

Fulbright-Nehru Doctoral Fellowships , for example, offer Indian students the chance to complete a funded research placement (six to nine months) in the USA.

The Fulbright Foreign Student Program provides Nigerian doctoral students with the opportunity to conduct PhD research in the United States.

Fulbright Germany’s Doktorand:innenprogramm (PhD student programme) is a similar scheme to help German researchers complete work in the USA.

You can view Fulbright programmes by country on the Bureau of Educational and Cultural Affairs website.

University PhD scholarships

It’s actually very common for US universities to provide fully-funded PhD programmes for international students, and relatively rare for successful candidates on graduate programmes to be entirely self-funding. The ‘sticker price’ for a US PhD may seem high, but it’s probably not the price you’ll end up paying.

Funding will take various forms. ‘Full-ride’ PhD scholarships will cover fees, living costs and other expenses. Other common options include partial fee discounts or full fee waivers.

In general, private universities will have more funding than public universities (though they will also have higher fees). You can search some of the PhD funding available using an official tool provided by Education USA . These results aren’t exhaustive though: make sure you also check with the university you are considering.

We’ve done some of the leg-work for you and produced a list of international PhD scholarships available at some of the top American universities, which you can check out below.

Assistantships

As well as awarding direct funding, it’s common for US universities to offer assistantship positions to their graduate students. These are effectively a form of employment with the university : you will fulfil a selection of responsibilities in exchange for a stipend or a fee waiver.

Common types of assistantship include:

• Graduate teaching assistantships – These involve teaching and mentoring undergraduate students on courses related to your subject. Responsibilities may include leading discussion groups, supervising essays and helping with course admin. Graduate students doing this kind of work are sometimes referred to as ‘TAs’ (teaching assistants) or ‘adjunct faculty’. Find out more about graduate teaching assistantships .
• Research assistantships – These involve helping faculty with their research. Responsibilities may include collecting and recording routine data, monitoring experiments or helping set up equipment.
• Administrative assistantships – These involve clerical, administrative and secretarial work for the university or graduate programme. Responsibilities may include data entry and management, assisting with meetings and other activities or helping with other routine office tasks.
• Fellowships – These don’t involve additional work but may be conditional on maintaining a certain standard for your academic work or pursuing particular directions with your research.

Graduate teaching assistantships and research assistantships are the most common types of assistantship, but it’s worth checking to see what different universities offer.

Federal grants and aid

National science foundation (nsf) graduate research fellowship program (grfp).

The National Science Foundation’s GRFP is a long-established federal grant scheme for talented STEM graduate students in the USA, providing the opportunity of a fully-funded PhD. Past fellows include over 40 Nobel laureates.

The GRFP offers the following financial benefits over a three-year period:

• $37,000 annual stipend
• Tuition fee allowance of $12,000 (paid directly to the university)

Applicants for the NSF GRFP must be:

• American citizens, permanent residents or nationals
• Graduate students beginning a research-based Masters or PhD degree in a STEM subject
• Embarking on Masters or PhD study for the first time

As you might expect, competition for these prestigious fellowships is high, with around 12,000 applications for 2,000 places.

There are four main elements to an NSF GRFP application:

• Graduate research plan statement
• Two or three reference letters

The deadline for submitting these documents is usually mid to late October, with the results announced at the beginning of April.

You can find out more on the NSF GRFP website .

Federal Student Aid for US students

If you’re a US citizen, you may be able to receive financial aid from the government to help fund your studies. Generally, international students are not eligible to apply except in very specific circumstances .

You’ll also need to have financial need, but there is no income cut-off to qualify for financial aid. Rather, there are several factors considered when assessing your application.

Unlike undergraduate students, Masters and PhD applicants are considered independent for financial aid purposes, meaning only your own income and assets are taken into account, as opposed to your parents’.

The types of federal aid available for postgraduate students include:

#1 Federal loans

Loans available for Masters students include Direct Unsubsidized Loans and Direct PLUS Loans .

For Direct Unsubsidized Loans , your university determines how much money you’re eligible to receive, up to an upper limit that depends on your personal circumstances. Find out more about Direct Unsubsidized Loan limits. Interest rates are currently set at 7.05% for the 2023-24 year.

Direct PLUS Loans don’t award a set amount. Instead, you can borrow up to the full cost of your Masters programme, minus any other forms of financial support you are receiving for it. Interest rates are set at 8.05% for the 2023-24 year.

To apply, you’ll need to be studying a course at 50% intensity or more (part-time programmes are eligible for direct plus loans, provided you study on a ‘half-time’ basis or greater). You’ll also need a good credit history to apply a Direct PLUS loan. You won’t normally be able to receive a Direct PLUS Loan if you have a record of credit default or overdue debt for existing loans. In some cases, a parent or other US citizen may endorse your application as a guarantor.

As a Masters student you won’t repay your loan until six months after you cease to be enrolled on your course. Note that this repayment period will normally still come into effect if you exit your graduate programme early.

Actual repayment plans vary, but you can view a set of guides from the US Department of Education .

#2 Work-study

Federal work study provides part-time jobs for US students who have financial need, to help them cover their living costs and tuition fees.

Roles can be on or off campus, and where possible related to your field of study. Off-campus jobs are generally for nonprofit organisations or public agencies, and must be performed in the public interest.

Postgraduate students may be paid by the hour or by salary, depending on the type of role performed. How many hours you’re allowed to work will be determined by your university’s financial aid office.

Federal work-study is generally not available for international students, but there are other ways to earn money alongside your studies. We cover this in our guide to working in the USA as a student .

Applying for financial aid

To apply for financial aid, you’ll need to submit a Free Application for Federal Student Aid (FAFSA) form. Filling in the FAFSA involves creating an online account and receiving a unique FSA ID.

You should have access to the following documents and information when filling in the FAFSA:

• Your social security number
• Your driving license number (if you have one)
• Your Alien Registration Number (of you are not a US citizen)
• Tax documents or tax returns for yourself and your spouse (if married)
• Records of any untaxed income, savings, cash or investments

The FAFSA form for becomes available for course starting the following year on 1 October annually. So if you’re planning to study a Masters or PhD starting in Autumn 2024, you’ll be able to fill in the FAFSA from 1 October 2023 .

The FAFSA deadline for 2023-24 is 30 June 2024 .

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From the Finance Ph.D. Liaison

“Welcome to UCLA Anderson’s Finance area, long recognized as one of the world’s top programs. Our Ph.D. students work with renowned faculty whose expertise covers corporate finance, macroeconomics, asset pricing, derivatives, investments and behavioral finance. The UCLA Anderson Doctoral Program is highly selective. We expect you to develop a passion and tenacity for excellent research in finance and, through mentorship and collaboration, we prepare you for a distinguished academic career. We look forward to receiving your application.”

Barney Hartman-Glaser Professor of Finance

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Learning Millennial Style Bruce Carlin

The growing use of online educational content and related video services has changed the way people access education, share knowledge, and possibly make life decisions. Here, Carlin – with co-authors Li Jiang and Stephen A. Spiller – characterizes how video content affects individual decision-making and willingness to share in the context of a personal financial decision.  

Volatility Managed Portfolios Tyler Muir

Managed portfolios that take less risk when volatility is high produce large, positive alphas and increase factor Sharpe ratios by substantial amounts. Muir, together with co-author Alan Moreira, documents a profitable trading strategy that increases stock market exposure in low volatility episodes and reduces exposure in high volatility times.  

Alumni Success

Robert Richmond (’16)

First academic placement: NYU Stern

In 2016, Robert Richmond earned the Conference on International Finance Best Paper Award (2016), the Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research and the Xavier Drèze award for most outstanding Ph.D. research paper. His current research uncovers an economic source of exposure to global risk that drives international asset prices.

Mindy Xiaolan Zhang (’14)

First academic placement: UT Austin

Mindy Zhang is recipient of the 2014 Trefftzs Award for Best Student Paper, WFA; and the 2014 Yihong Xia Best Paper Award, CICF. She conducts research on macro finance, equilibrium asset pricing, dynamic contracting, dynamic corporate theory, labor and finance.

Tobias J. Moskowitz (’98)

First academic placement: University of Chicago Booth School of Business

Recipient of numerous honors and awards, Tobias "Toby" Moskowitz is one of UCLA Anderson's Inspirational 100 alumni. Moskowitz was named the inaugural Dean Takahashi '80 B.A., '83 M.P.P.M. Professor of Finance at Yale School of Management in 2016. He was previously the Fama Family Professor of Finance at the University of Chicago Booth School of Business, where he had taught since 1998. In 2011, he co-authored the best-selling book Scorecasting , which uses economic principles to explain the hidden side of sports.

Joshua D. Coval (’97)

First academic placement: University of Michigan Business School

Joshua Coval's current research investigates the structured finance market and how investor reliance on ratings and unsound pricing models led to the spectacular rise and collapse thereof. His research awards include the 2000 and 2005 Smith-Breeden Prize for the best paper in the Journal of Finance . His research has been featured in The Economist, the Wall Street Journal, the New York Times, the Chicago Tribune, Time, Money Magazine and Financial Times .

William F. Sharpe (’61)

Winner of the 1990 Nobel Prize in Economic Science, William Sharpe was mentored at UCLA by the late Professor J. Fred Weston. Sharpe was one of the originators of the Capital Asset Pricing Model and developed the Sharpe Ratio for investment performance analysis. He co-founded the independent investment advisory firm Financial Engines.

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LERNER BUSINESS & ECONOMICS

• Financial Services Analytics (FSAN) (Ph.D.)

Student Research Topics

FSAN students work closely with their supervisors to identify cutting-edge research topics related to modern data science theory, algorithms and applications in banking and the financial and tech industries. Sample dissertation topics include:

• Bayesian causal inference
• predictive analytics
• bank systemic risk
• malware detection and classification
• credit card fraud detection
• NLP & chat-bots
• link recommendation
• text-based industry classification
• loan process optimization
• customer targeting
• active learning on graphs

Career Opportunities

Our program generates excellent internship opportunities and industry and academic job prospects.

Corporate-sponsored internships offer you the opportunity to apply analytics tools to real-world challenges on teams in wealth management, machine learning, data architecture, investment banking, global finance and business management. Most students gain internship experience while pursuing their Ph.D. degrees.

FSAN graduates are researchers and professionals who play key roles in teams that bridge the financial services industry and data and operational sciences. They are now employed as data scientists in major banks, fintech companies and technology companies. The FSAN program works closely with Lerner Career Services to provide personalized, high quality career assistance.

Where Our Students Intern

• JP Morgan Chase & Co

Where Our Graduates Work

Academic Institutions:

• Chinese University of Hong Kong (Shenzhen)
• Shanghai University of Finance & Economics
• University of Delaware
• Virginia Tech

Banking and Financial Services:

• Bank of America

"UD was able to merge finance, data mining, statistics and other areas to create the FSAN program. This is also reflected in the diversity of the students. We come from different fields, and it is wonderful how we are able to complement each other in so many different ways."

- FSAN student Leonardo De La Rosa Angarita

• Lifelong Lerner: Chuan Cai - As a member of the University of Delaware’s Alfred Lerner College of Business and Economics’ class of 2024, Chuan Cai, financial services analytics Ph.D. from Lu’an, Anhui, China has thoroughly demonstrated his excellence and dedication during his time at UD.
• Unique Lerner FSAN Program Lands Graduates in Top Financial Technology Jobs - As businesses increasingly search for workers skilled in tools like machine learning, artificial intelligence and language models, this program is turning out graduates ready for the job.
• What Is Fintech? - This article explains what fintech is, introduces jobs and salaries in the field and compares different ways of learning the subject.
• On the Job with Oliver Yao: New Lerner Dean Is Focused on the Promise of FinTech - Oliver Yao, the new dean of the Alfred Lerner College of Business and Economics, wants the college to be at the center of the financial technology revolution.
• Lifelong Lerner: Jared Sharpe - Jared Sharpe, a native of Andreas, Pennsylvania, earned a doctoral degree in financial services analytics from the University of Delaware’s Alfred Lerner College of Business and Economics in May 2023.

Contact Dr. Bintong Chen 302-831-2756 [email protected]

Explore the doctorate in FSAN by viewing a recent FSAN information session.

Admissions Information

We accept students every other year, in the even-numbered years. The application deadline for the next cohort (beginning fall semester 2024) is May 1, 2024. Students seeking financial aid should submit their applications by February 1, 2024, but late applications will be considered if funds are available. Highly-qualified students may receive research scholarships as well as a generous stipend to cover all educational expenses.

• Economics (Ph.D.)
• Economic Education (Ph.D.)
• Hospitality Business Analytics (Ph.D.)

PhD in Applied Economics and Management Program

Earn your doctorate at the dyson school—an innovative, immersive phd program.

Prepare for research-rich careers in academia and industry.

Offered by the Charles H. Dyson School of Applied Economics and Management at Cornell University, this PhD program is fully funded, fully residential—and fully designed to prepare you to tackle today’s most pressing economics issues. 

Earning a doctoral-level degree opens you up to exciting opportunities, whether you plan to teach at the college level, want to pursue a research-related career in industry, or wish to use your skills and knowledge in the nonprofit sector.

Why Earn a PhD in Applied Economics and Management at the Dyson School?

Considered one of the best applied economics PhD programs in the nation for research output, the Dyson School’s doctoral offering combines Ivy League rigor, experiential learning, and faculty mentorship. Here are just a few ways our program is unique among applied economics PhD s:

Fully Funded

All applied economics PhD students receive full tuition assistance, plus health insurance and a stipend for all five years

STEM-Designated

Our program prepares you to be a researcher in today’s technologically advanced, big-data-focused landscape.

Flexible and Focused

Choose an industry-focused concentration area, such as food and agricultural economics.

Experience-Rich

Partnerships across Cornell give you unprecedented teaching and research opportunities.

Program Overview: The PhD in Applied Economics and Management at a Glance

Here’s a quick overview of the AEM PhD program, from degree type to program duration:

Degree Awarded

PhD in Applied Economics and Management

Program Format

Full-time residential and STEM-designated

Program Duration

Our Curriculum: PhD Course Requirements

The first two years of the PhD in applied economics and management program include foundational coursework in areas such as economic theory, applied econometrics, and macroeconomic research. Then, you’ll progress into general electives, as well as electives related to your concentration area.

The heart of the PhD program is your dissertation, and this faculty-mentored, research-based project will be the focus of your final three years in the program.

PhD in AEM Concentrations: Developing Your Expertise

As a doctoral student at the Dyson School, you’ll choose one of four concentrations. As you take electives and engage with faculty in one of these research areas, you’ll begin to home in on your own area of expertise. Within this concentration, you’ll develop your dissertation idea and form your special faculty committee.

Environmental, Energy, and Resource Economics (EERE)

Discover how the economy and the environment interconnect. This concentration covers a wide range of existing and emerging environmental issues. EERE students gain environmental economics experience through our partnerships with the Atkinson Center for a Sustainable Future and the Cornell Institute for China Economic Research .

Faculty expertise in the environmental, energy, and resource economics PhD concentration area includes:

• Climate change
• Air and water quality
• Policy evaluation
• Transportation
• Renewable and nonrenewable energy

Food and Agricultural Economics (FAE)

Explore every aspect of the food chain, from farm to market to consumer. Not only will you get to work with experts at the Dyson School, but with our connection to Cornell’s College of Agricultural and Life Sciences (CALS) , Cornell Cooperative Extension , and the Food Industry Management Program (FIMP) , you have unparalleled access to a broad range of experts, including natural scientists, farmers, and food retailers.

Faculty expertise in the food and agricultural economics PhD concentration area includes:

• Agricultural finance
• Behavioral economics
• Food retailing and marketing
• Farm management

International & Development Economics (IDE)

Find solutions to market challenges around the world. This concentration will expand your knowledge of pressing societal issues, including poverty, public health, and agriculture. Teaching and research opportunities for IDE students include the Tata-Cornell Institute for Agriculture and Nutrition , the Emerging Markets Institute , and the Einaudi Center for International Studies .

Faculty expertise in the international and development economics PhD concentration area includes:

• Poverty and inequity
• Nutrition and urbanization
• Public works programs
• Resilience measurement
• Labor markets

Management (MGMT)

Dive into the science of management in industries of all kinds. Concentrating in management gives you flexibility in building your academic plan, including hundreds of electives and endless possibilities for dissertation research topics. Our faculty members have an incredible range of scholarly and professional experience, our management concentration highlights three core areas:

Real Estate Economics (REE)

Faculty in this area examine issues related to real estate and urban development. Research interests include:

• Commercial real estate finance
• Investment performance
• Tall buildings

Strategy and Business Economics (SBE)

Faculty in this area explore a range of strategy-related questions. Their research interests include:

• Digitization
• Human capital management
• Organizational economics

Faculty in this area focus on empirical finance issues. Research interests include:

• Climate finance
• Household finance
• Asset pricing
• Financial institutions

Benefits of a STEM-Designated PhD in Applied Economics and Management

A longtime innovator in economics education, the Dyson School has always prepared its students for the changing marketplace. Our STEM-designated PhD program takes that to another level by ensuring our graduate-level curriculum gives you the technical competencies demanded of today’s researchers. Your studies will cover applied econometrics, machine learning, programming, and other emerging areas relevant to business. 

The STEM designation offers additional benefits to Dyson School students on an F-1 visa, including the opportunity for extended learning and professional experiences in the United States.

After the PhD: Careers in Academia and Industry

A senior data scientist at Citibank. A research agricultural economist at the US Department of Agriculture. An assistant professor at Hong Kong University of Technology. 

Dyson School PhD graduates take their research experience into academia and industry. As scholars, they teach and continue their research at institutions across the US and abroad. They also serve in high-profile economist, data scientist, advisor, and related roles at organizations from federal agencies to global financial services firms to nongovernmental organizations. 

VIEW PhD in AEM CAREER OUTCOMES

Your Dissertation: Putting Ideas into Action

Intellectual curiosity at the Dyson School is strong. Our PhD students devote their research to economics and management topics spanning sectors and industries. Dissertations in recent history take a deep dive into issues such as:

• Tax policy, public health, and government spending
• Food safety and consumer demand in China
• Business process innovation in commercial firms
• Impact of fintech in agricultural economics

Our Faculty: Research with Industry-Leading Scholars

As a PhD student at the Dyson School, you’ll work alongside some of the most brilliant minds in economics and management. In addition to receiving individual mentorship, you’ll get to build your own special faculty committee—an advisory group that will guide you through every step of your dissertation.

Throughout the program—from foundation courses to electives across Cornell—you will learn from award-winning educators, widely published scholars, and industry-leading practitioners.

“One of my favorite aspects of the PhD in Applied Economics and Management program was the abundance of seminars and the regular hosting of conferences. The wide range of seminars and the frequency of conferences created an intellectually stimulating environment and facilitated thought-provoking discussions with experts and peers.” — Natasha Jha ’23

The PhD Student Experience: Living and Learning at the Dyson School

When you join the Dyson School, you will become part of a vibrant, collaborative learning community dedicated to positively impacting people around the world through economic and management research.

Our Community

As a PhD student at Dyson, you will make meaningful connections across campus and beyond. You’ll learn from a world-class faculty, engage with ambitious peers, receive close research mentorship, and have access to a broad range of academic and career support services.

With historic buildings, modern learning spaces, beautiful scenery, and plenty of amenities, Cornell is an amazing place to live and learn. We’d love to show you around campus.

Our Expertise

Our faculty are experts in many areas but perhaps most notably for consulting, consumer packaged goods, financial services, technology, and agribusiness. The breadth and depth of our knowledge is especially helpful as you pursue your doctoral research. 

LEARN MORE ABOUT DYSON

Admissions Overview: How to Apply to the PhD in Applied Economics and Management Program

The ideal candidate for the Dyson School’s applied economics PhD program will have a thorough knowledge of economic theory and quantitative methods, as well as a background in calculus and real analysis. Our admissions page has more details about eligibility requirements, deadlines, and materials you need to submit with your application.

Applied Economics FAQ: Your PhD Questions Answered

As you research and compare applied economics PhD programs , you probably have questions about program length, the admissions process, dissertation requirements, career possibilities, and more. Explore the answers to frequently asked questions to help you learn more about the Dyson School’s program.

Next Steps: Apply to the Dyson School PhD in AEM

Ready to apply to our highly selective, fully funded PhD in Applied Economics and Management? We encourage you to officially start the application process today at the Cornell Graduate Admissions website.

List of Fully Funded Ph.D. Scholarships in USA 2025

Do you want to start your study adventure in USA? Good news! A number of fully funded scholarships are available in United States of America for international students. In this article we will explain in detail about fully funded scholarships offered in top universities in USA, their benefits and step by step application process.

More than 1500 fully funded Ph.D. scholarships 2025-2026 are available at USA’s top universities for international students. These scholarships provide an average monthly stipend of $1500 along with tuition fees, accommodation charges, health insurance, and travel allowance.

Apply for fully funded scholarships and fulfill your dream of studying at world top universities like Yale University USA, Harvard University USA, Clark University, Kellogg Institute, Schlumberger Foundation and many more.

1.  Fulbright Scholarships USA

Fulbright Scholarships are fully funded scholarships for international students. These scholarships are only offered for masters and PhD studies. The Fulbright Foreign Student Program covers full tuition fee, a living stipend, a full accommodation fee, airfare, and health insurance.

• Institution:  USA Universities
• Level of Study:  Masters / PhD
• Click here for deadlines and a step-by-step application process.

2.  Stanford University Scholarships

Stanford University Scholarship is a fully funded scholarship for international students. This scholarship is offered for Masters and Ph.D studies. This scholarship is offering full tuition fees, traveling allowance, Living allowance and academic expenses.

• Institution:  Stanford University

3.  Yale University Scholarships USA

Yale University Scholarship is a fully funded scholarship for international students. This scholarship is offered for undergraduate, masters and PhD. Yale Scholarship can vary from a few hundred dollars to over $70,000 per year; the average Yale need-based scholarship is over $50,000.

• Institution: Yale University
• Level of Study: Undergraduate / Masters / PhD

4. Facebook PhD Fellowship

Facebook Fellowship Program is a fully funded scholarship for international students. This scholarship is offered for doctoral research studies. The scholarship covers two years of study and fees, an annual stipend, and conference travel aid.

• Institution: Facebook
• Level of Study: Ph.D.

5. Robert S. McNamara Fellowships Program

Robert S. McNamara Fellowships Program is a fully funded scholarship for international students. This scholarship is available for PhD studies and provides the recipient with up to $42,750 net per fellow for an 8-month fellowship.

• Institution: World Bank

6. IMU Breakout Graduate Fellowship Program

IMU Breakout Graduate Fellowship Program are fully funded PhD scholarship for international students. International Mathematical Union Scholarship value is up to a maximum of  USD 10,000 per year and covers tuition fees, accommodation, travel expenses, and living expenses.

• Institution: International Mathematical Union

7. AAUW International Fellowship Program

AAUW Fellowship Program is a fully funded scholarship. This scholarship is offered by The American Association of University Women , USA. International students from all world countries are eligible to apply. This scholarship is only available for graduate and post-graduate studies in any subject offered by the university. AAUW Fellowship Program covers $18,000 to $30,000 per year, contingent upon meeting academic standards for renewal. 

• Institution: The American Association of University Women
• Level of Study: Masters/ PhD / Postdoctoral

8. ACI Foundation Scholarship

ACI Foundation Scholarship is a fully funded scholarship or fellowship for international students. This scholarship is offered for undergraduate, masters, PhD, and Postdoctoral studies. This scholarship provides $10,000 – $15,000 US educational stipend for tuition, residence, books, and materials.

• Institution: ACI Foundation
• Level of Study: Undergraduate / Masters / PhD / Postdoctoral 

9. Knight Hennesy Scholarship

Knight Hennesy Scholarships are fully funded scholarships for international students. These scholarships are offered for Masters and PhD studies. These scholarships cover full tuition fees, traveling allowance, Living allowance, and academic expenses.

• Institution: Stanford University
• Level of Study: Ph.D. / Masters

10. Kellogg Institute Visiting Fellowships

Kellogg Institute Visiting Fellowships are open for international students who want to pursue doctoral and post-doctoral degrees in the USA. The Kellogg Institute for International Studies has been offering visiting scholarships in a helpful society of academics since 1983 to encourage interdisciplinary global studies.

• Institution: Kellogg Institute for International Studies
• Study in: USA
• Level of Study: Doctoral & Post Doctoral

11. ACI Foundation Scholarship

• Level of Study: Ph.D. / Masters / Undergraduate / Postdoctoral

12. Schlumberger Foundation Fellowships

Schlumberger Foundation Faculty for the Future Fellowship is a funded scholarship for international students. This scholarship is valued at a maximum of USD 50,000 per year for a PhD and a maximum of USD 40,000 per year for a Post-doc and may be renewed through to the completion of studies.

• Institution: Leading universities worldwide

PhD Handbook

PhD in Finance in USA: Best Universities for PhD in Finance in USA

USA happens to be one of the most sought after destinations for a PhD. The program structure here allows you to get a lot of training alongside research which is not common in the European countries or UK is what makes it desirable. Usually, master of finance graduates plan to get a PhD but it is also a good option for MBA in USA graduates to advance their careers. After a PhD in finance in USA, you can either go on the path to become a professor or take the road to work with global companies.

We have prepared a guide including best universities for PhD in finance in USA, eligibility criteria, admission process, cost of studying, scholarships, future opportunities and a lot more to help you grab the best opportunities to pursue PhD in finance from USA.

Why Study PhD in Finance in USA?

• US universities dominate almost all major rankings. If we talk about the QS World University Rankings by Subject for Accounting and Finance, 73 universities are included in the list of top universities.
• USA spends enormous amounts on research and development and is said to be ahead of several other countries in terms of innovation.
• The rigor of curriculum offered at US universities is much higher in standard than research programs at other institutions.
• US universities offer state-of-art research infrastructure which attracts aspirants from all around the world.

Best Universities for PhD in Finance in USA

A PhD is a long duration course so be assured that you choose your university wisely considering accreditation, co-curricular factors, facilities, faculty, location, etc. Here is a list of the 5 best universities for PhD in finance in USA:

• Massachusetts Institute of Technology
• University of Chicago
• Stanford University
• University of California, Berkeley

University of Pennsylvania

Discussed below are the insights of these 5 universities including ranking, specializations and tuition fees can be seen below:

1.  Massachusetts Institute of Technology

PhD in finance at Massachusetts Institute of Technology is offered under the MIT finance group. The program duration can be categorized into coursework, seminar, general examination, research paper and dissertation.

2.  University of Chicago

For pursuing PhD in finance at University of Chicago , you will get full tuition support for 5-6 years of your full-time study. Additionally, the university gives you the opportunity to work as a teaching assistant in the third and fourth year.

3.  Stanford University

At Stanford University , your PhD program will come with a five year funding guarantee which includes tuition, assistantship salary and fellowship stipend. Phd programs have been a constant preference for most international students to pursue here.

4.  University of California, Berkeley

The Haas School of Business at University of California, Berkeley offers a five year, fully funded PhD in finance program that aims to integrate modern developments in the field of finance. The course expects the student to have a strong background in mathematics and statistics.

5.  University of Pennsylvania

The finance faculty at the Wharton School of Business is one of the most renowned faculties of University of Pennsylvania . The ideal candidate for a PhD at Wharton should have a background in economics, mathematics, statistics, engineering and other quantitative disciplines.

Course Curriculum for PhD in Finance in USA

Although a US PhD degree is longer than a UK degree, it has its own benefits and gives candidates the time to get a better hold and develop expertise in the subject area. Discuss in the table below the course curriculum for PhD in finance in USA:

Eligibility Criteria for PhD in Finance from USA

The PhD in finance in USA requirements may vary from one university to another. Before looking at the cost of studying PhD in USA, let us understand the basic eligibility criteria for the same:

• Completed master’s degree
• English language proficiency requirements
• Entrance test scores

Take a look at the detailed discussion on eligibility criteria to study PhD in finance in US:

1.  Completed master’s degree

To pursue PhD in finance in USA, you must have a master’s degree in finance from a recognized institution equivalent to a US master’s degree. A minimum GPA of 3.0 or above is required.

Suggested: MS in finance in USA

2.  English language proficiency requirements

As international students, you will have to provide proof of English language proficiency if your native language is not English. IELTS and TOEFL are among the most widely accepted test scores. A minimum IELTS score of 6.5 or a TOEFL-iBT score of 90 or above is recommended.

3.  Entrance test scores

Before enrolling for a PhD in finance in USA, you may be asked for your GMAT or GRE scores. You may not have to take the test again as you must have already taken it before applying for your master’s degree.

Suggested: MS in USA

Documents Required to Study PhD in Finance from USA

It is crucial to understand the PhD in finance in USA requirements to complete the application process hassle-free. Listed below are the documents that most institutions will ask you to submit:

• Transcripts of academic records from all previous post-secondary institutions
• Test scores of GMAT/ GRE
• English language proficiency test scores
• Research proposal
• Writing sample
• Letters of recommendation
• Personal statement
• Copy of passport
• Proof of finances

Admission Process for PhD in Finance in USA

Here is the step-by-step process to apply for PhD in finance in US:

• Check the eligibility criteria for your chosen institution before applying.
• Visit the official university website and look for the upcoming intake and application deadlines.
• Complete the online application for admission and pay the necessary application fee, which usually ranges between 100 USD-150 USD.
• Gather all documents to be submitted along with the application.
• Once you complete the application and submit all relevant documents, keep an eye on the university website to get updates on your application.
• You may be called for an interview and be asked about your research proposal before getting the acceptance letter.
• If you are accepted, fulfill the enrollment requirements and apply for a visa to study in USA.

Suggested: USA student visa guide

How Much Does it Cost to Study for a PhD in Finance in USA?

Getting a PhD in USA requires a huge sum of investment. The cost of studying for a PhD in finance in USA can be categorized into tuition fees and cost of living. Let us consider the costs for each of these components.

Tuition Fees

The tuition fees for PhD in finance in USA ranges between 35,000 USD - 70,000 USD per year. You can find programs with lower tuition fees at public universities.

Suggested: Phd in USA cost for Indian students

Cost of Living

An international student’s cost of living in USA is estimated at around 12,000 USD-18,000 USD per year i.e. 1000 USD-1,500 USD per month, varying according to the student’s budget. It is true that the living expenses in USA are higher compared to many other study abroad destinations. However, affordable options are available to choose from, such as various accommodation options, public transport, personal expenses, etc.

Scholarships for PhD in Finance in USA

You will find multiple funding options for pursuing research in USA. Most US universities offer fully funded PhD programs , so you do not have to fret about the huge tuition fees. Take a look at the table below to learn about the various university-provided scholarships for international students:

Career Opportunities After PhD in Finance in US

Accounting and finance professionals in USA earn 97,600 USD per year on average. With a PhD in finance from USA, you can expect 23% higher salaries than a master’s degree. New York, Houston, Los Angeles, Philadelphia are some of the states offering the highest salaries compared to other cities in USA.

Take a look at the popular job titles and average salaries for PhD in finance from USA:

Suggested: How to find jobs in USA?

A PhD in finance in USA is worth considering to advance your career and boost your earning potential. Get in touch with our Yocket counsellors today and get answers to all your questions related to PhD in finance in USA and a roadmap to secure a seat in one of the best universities for a PhD in finance in USA.

Frequently Asked Questions about PhD in Finance in USA

How many years is a PhD in finance in USA?

A PhD in finance in USA takes 4 to 6 years depending on the candidate’s knowledge level. Generally, an individual spends around 2-4 years in the coursework and another 2-4 years on the dissertation.

How much does it cost to do a PhD in finance in USA?

The annual fees for PhD in finance in USA is somewhere between 30,000 USD-55,000 USD per year which may vary across universities.

Can Indian students get a scholarship to pursue PhD in finance in USA?

Yes, there are several scholarships for Indian students to pursue PhD in finance in USA, such as Fulbright Scholarship, Knight-Hennessy Scholars program, Aga Khan Foundation International Scholarship program and several other university-specific scholarships.

Can I apply for PhD in finance with an MBA in finance?

Yes, you can apply for a PhD in finance with an MBA in finance.

Is it better to do PhD in finance in USA from a private or public university?

Both types of universities have equally good options to pursue PhD in finance in USA. If you wish to apply to public universities in USA some of the best options are University of California - Berkeley, Georgia Institute of Technology, University of Illinois - Urbana, etc. Top private universities include Stanford University, Massachusetts Institute of Technology, Yale University, among others.

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PhD Programs

• Accounting & Management
• Business Economics
• Health Policy (Management)
• Organizational Behavior
• Technology & Operations Management

Students in our PhD programs are encouraged from day one to think of this experience as their first job in business academia—a training ground for a challenging and rewarding career generating rigorous, relevant research that influences practice.

Our doctoral students work with faculty and access resources throughout HBS and Harvard University. The PhD program curriculum requires coursework at HBS and other Harvard discipline departments, and with HBS and Harvard faculty on advisory committees. Faculty throughout Harvard guide the programs through their participation on advisory committees.

How do I know which program is right for me?

There are many paths, but we are one HBS. Our PhD students draw on diverse personal and professional backgrounds to pursue an ever-expanding range of research topics. Explore more here about each program’s requirements & curriculum, read student profiles for each discipline as well as student research , and placement information.

The PhD in Business Administration grounds students in the disciplinary theories and research methods that form the foundation of an academic career. Jointly administered by HBS and GSAS, the program has five areas of study: Accounting and Management , Management , Marketing , Strategy , and Technology and Operations Management . All areas of study involve roughly two years of coursework culminating in a field exam. The remaining years of the program are spent conducting independent research, working on co-authored publications, and writing the dissertation. Students join these programs from a wide range of backgrounds, from consulting to engineering. Many applicants possess liberal arts degrees, as there is not a requirement to possess a business degree before joining the program

The PhD in Business Economics provides students the opportunity to study in both Harvard’s world-class Economics Department and Harvard Business School. Throughout the program, coursework includes exploration of microeconomic theory, macroeconomic theory, probability and statistics, and econometrics. While some students join the Business Economics program directly from undergraduate or masters programs, others have worked in economic consulting firms or as research assistants at universities or intergovernmental organizations.

The PhD program in Health Policy (Management) is rooted in data-driven research on the managerial, operational, and strategic issues facing a wide range of organizations. Coursework includes the study of microeconomic theory, management, research methods, and statistics. The backgrounds of students in this program are quite varied, with some coming from public health or the healthcare industry, while others arrive at the program with a background in disciplinary research

The PhD program in Organizational Behavior offers two tracks: either a micro or macro approach. In the micro track, students focus on the study of interpersonal relationships within organizations and the effects that groups have on individuals. Students in the macro track use sociological methods to examine organizations, groups, and markets as a whole, including topics such as the influence of individuals on organizational change, or the relationship between social missions and financial objectives. Jointly administered by HBS and GSAS, the program includes core disciplinary training in sociology or psychology, as well as additional coursework in organizational behavior.

Accounting & Management  

Business economics  , health policy (management)  , marketing  , organizational behavior  , strategy  , technology & operations management  .

• Tuition, Funding, & Living Costs
• PhD/Master's Application Process

All PhD students at Yale are fully funded. On average, doctoral students at Yale receive more than $500,000 in tuition fellowships, stipends, and health care benefits over the course of their enrollment. Some terminal Master's degree students also receive funding.

Tuition for full-time study at the Graduate School of Arts and Sciences in the academic year 2024-2025 is $49,500.

More information on Tuition & Fees is available in our Programs & Policies handbook. Please note that we do not charge many of the fees common to other schools (e.g., technology fee, library fee, gym fee, student activities fee).

See Student Accounts for billing and payment inquiries.

For PhD Degree Applicants

All PhD students at Yale receive the following financial award, typically for a minimum of five years:

• a fellowship that covers the full cost of tuition ($49,500 for 2024-2025)
• a 12-month stipend (minimum of $49,538 for 2024-2025)
• comprehensive health insurance, including hospitalization coverage and specialty care for students, their legal spouse, and their children
• a family support subsidy for graduate students with children under the age of 18

Additionally, a Dean's Emergency Fund is available to help students with eligible, unanticipated emergency expenses. In some cases, the Continuing Registration Fee for advanced PhD students is also covered by the Graduate School.

Most PhD students complete their degrees without incurring debt.

For Master's Degree Applicants

Most students pursuing Master's degrees do not receive financial support from the Graduate School and are responsible for paying tuition, but some programs offer limited funding. Please check with the program that interests you for more information.

All Master's students registered at least half time receive Student Basic Coverage at Yale Health. You are also eligible to purchase Hospitalization and Specialty Care coverage at a group rate through the university.

Other Sources of Funding

Many of our students win external fellowships and grants. See our External Fellowships & Awards page for more information on how an external award will affect your Yale funding.

Some students choose to take loans, participate in work-study programs, or engage in part-time employment to supplement their funding while in Graduate School. More information is available on Other Means of Financing Graduate Education .

Living Cost Estimates

To ensure that our financial aid package provides enough support to enable you to live in New Haven and study full time, we developed a cost-of-living guide (see below). The Office of Financial Aid also uses these calculations to determine financial need as required by certain funding sources and for immigration processes.

Estimated average living expenses include housing and food, transportation, personal and academic expenses (excluding tuition), and hospitalization coverage and specialty care. Expenses for doctoral students may actually be less than the estimate below, since PhD financial packages cover the full cost of single-student hospitalization and specialty care coverage in the Yale Health Plan, as well as half the cost of two-person coverage (for spouses and partners), and the full cost to cover children.

2024-2025 Academic Year Living Cost Estimate:

9-MONTH LIVING COST (Master's Students):

• Single Student: $30,875

12-MONTH LIVING COST (PhD Students):

• Single Student: $39,651  

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Ph.D. in Finance, fully funded

01 january 2024, phd programs, christian schlag.

Graduate School of Economics, Finance, and Management (GSEFM) at Goethe University Frankfurt in cooperation with the Leibniz Institute for Financial Research SAFE

The GSEFM graduate program offers a quantitative and research-oriented education featuring the structure of premier anglo-saxon graduate programs. Together with the Leibniz Institute for Financial Research SAFE, it provides an environment where students can benefit from a unique research group in Finance spanning a wide range of topics, such as banking regulation, systemic risk, asset pricing, corporate, household, behavioral, and macro finance, data science, and financial law. Students and faculty benefit from the location in Frankfurt, the primary center for financial markets and central banking in continental Europe. The program does not charge tuition fees.

The GSEFM Ph.D. Program in Finance consists of two years of doctoral coursework with a qualifying examination at the end of the first year. Core courses in financial economics, econometrics, and mathematical methods (first year) and two to three elective courses (second year) ensure that students acquire a thorough knowledge of the theory of Finance before beginning their own research.

SAFE  ­offers funding each year for the entire program to three excellent applicants for the Ph.D. Program in Finance as well as to those for the Program in Economics who pursue Finance as one field in their studies. The funding includes a grant of monthly €1,300 in the first year and an ensuing work contracts as research assistants, conditional on passing the preliminary exams.

SAFE aims to increase the proportion of female scholars among its research staff and will therefore give preference to female applicants in case of equal qualification.

Learn more about a Ph.D. in Finance at GSEFM in Frankfurt combined with funding from SAFE at  https://safe-frankfurt.de/about-safe/career/phd-in-finance.html

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• Study Abroad

Fully-Funded PhD. Programs In The USA For International Students for 2024

• Universities in USA

Updated on 05 July, 2024

Kanika Pruthi

Sr. content writer & study abroad expert.

In today’s era, if you wish to be considered for top-level academic and non-academic positions abroad, doctoral programs are a necessity. Several top American universities offer PhD programs, but not all are cost-effective. Fortunately, some universities lower students’ financial burdens and provide fully-funded PhD programs in the USA for international students,  making it an excellent option for those looking to  study abroad .

Let's discuss a list of fully funded PhD programs, including their benefits, eligibility, application tips, and funding details for various fields and universities.

Table of Contents

Scholarships for phd programs in usa.

• 1. PhD in Anthropology at the University of Chicago
• 2. PhD in Biological Sciences in Public Health at Harvard University
• 3. PhD in Business at Massachusetts Institute of Technology
• 4. PhD in Business at Rice University
• 5. PhD in Business at the University of Iowa
• 6. PhD in Chemical Engineering at Cornell University
• 7. PhD in Clinical Psychology at Columbia University
• 8. PhD in Computer Science at Brown University
• 9. PhD in Computer Science at Georgetown University
• 10. PhD in Computer Science at Washington University in St. Louis

Tenure/Duration

Subject/fields for fully funded phd programs in usa, application duration of fully funded phd programs in usa.

• Value of Scholarship
• Selection Process

Requirements for Continuing Scholarships

1. start early, 2. research your options, 3. evaluate financial requirements, 4. seek special opportunities, 5. prepare your application, 6. apply for financial aid concurrently, 7. visa and travel preparation.

The Fully-funded PhD programs in the USA cover various programs such as studentships, scholarships, and grant and bursaries programs. Some American universities offer fully-funded doctoral projects as well. 

These fully-funded PhD programs in the USA for international students do not cover only research council studentship. Usually, they also include:

• Travel grants and conference funding
• Resource grants 
• Writing-up funding 
• Hardship funding

List of Fully Funded PhD Programs

Many prestigious institutions offer fully funded PhD programs in the USA for international students. The grants or scholarships cover tuition, stipends, and other essential costs, ensuring that students can focus entirely on their research and academic pursuits. Here is a list of fully funded PhD programs across various fields and universities:

1. PhD in Anthropology at the University of Chicago 

Anthropology PhD students receive funding for up to eight years, assuming they maintain good academic standing. They also have the option to apply for external fellowships.

• University : University of Chicago
• Eligibility : Students must be in good standing at the university.
• Intake : Fall each year for enrollment in the fall of the following year
• Funding : Full-tuition scholarship, health insurance, and a living stipend of $37,000 (₹30,91,189) for the 2023-2024 academic year.

2. PhD in Biological Sciences in Public Health at Harvard University 

The PhD in Biological Sciences program at Harvard University aims to provide disease prevention and treatment expertise. It covers areas like AIDS, cancer, diabetes, kidney disease, malaria, and tuberculosis.

• University : Harvard University, T.H. Chan School of Public Health 
• Eligibility : Maintain satisfactory academic progress. International students receive the same benefits.
• Intake : Fall each year
• Funding : Full tuition, stipend, and health insurance for five years.

3. PhD in Business at Massachusetts Institute of Technology 

MIT's PhD in Business program covers various fields such as organization studies, accounting, and information technology.

• University : Massachusetts Institute of Technology, Sloan School of Management
• Eligibility : Maintain good academic standing.
• Funding : Full-tuition scholarship, a monthly stipend of $4,497 (₹3,75,704), medical insurance, new laptops at the start of the first and fourth years, and $4,500 (₹3,75,955) for conference travel expenses over five years.

4. PhD in Business at Rice University 

The PhD in Business program at Rice University prepares students to teach in fields like accounting, finance, organizational behavior, and strategic management through research or teaching assistantships.

• University : Rice University, Jones Graduate School of Business
• Eligibility : Maintain satisfactory academic progress and full-time student status.
• Funding : Full financial assistance, including tuition waiver and a $40,000  (₹33,41,826) annual stipend.

5. PhD in Business at the University of Iowa 

In addition to providing extra funds for research presentations, summer fellowships, and paid time off for independent study, the University of Iowa offers PhD degrees in subjects like accounting, economics, business analytics, and marketing.

• University : University of Iowa, Ivy College of Business
• Eligibility : Virtually all admitted students receive funding.
• Funding : Full funding, including tuition and fees, an annual stipend of about $30,000 (₹25,06,369) with annual adjustments, and comprehensive health insurance.

6. PhD in Chemical Engineering at Cornell University 

Funding for the PhD in Chemical Engineering program at Cornell University can come from teaching assistantships, research assistantships, or fellowships, with full stipends granted for nine or twelve months and additional aid likely in the summer.

• University : Cornell University
• Eligibility : Maintain satisfactory academic progress.
• Funding : Full tuition waiver and an annual stipend of $43,326 (₹36,19,898) or a nine-month stipend of $32,494 (₹27,14,881).

7. PhD in Clinical Psychology at Columbia University 

Doctoral fellows in PhD in Clinical Psychology at Columbia University may serve as graduate teaching or research assistants. The program typically includes a full-year internship and is completed in five to seven years.

• University : Columbia University, Teachers College
• Intake : Spring, summer, and fall
• Funding : Fully funded tuition and a $25,000 (₹20,88,641) stipend annually for three years, continuing into the fourth year, if necessary.

8. PhD in Computer Science at Brown University 

Students getting a PhD in Computer Science at Brown University can take classes at nearby schools without additional costs.

• University : Brown University
• Funding : Full financial support, including tuition remission, stipend, health services fees, and a health insurance subsidy for five years.

9. PhD in Computer Science at Georgetown University 

Students opting for a PhD in Computer Science at Georgetown University must complete the Apprenticeship in Teaching Program and write and defend a research dissertation in a public seminar.

• University : Georgetown University
• Eligibility : Remain in good academic standing.
• Funding : Scholarships and assistantships covering full tuition, a stipend, and five-year health insurance.

10. PhD in Computer Science at Washington University in St. Louis 

Support for the PhD in Computer Science program at Washington University is guaranteed as long as students make adequate progress towards their degree, with potential qualification for additional fellowships.

• University : Washington University in St. Louis, McKelvey School of Engineering
• Funding : Full tuition support, health insurance, a generous living stipend, and a high-end Apple laptop computer.

Several institutions offer fully funded research programs. Remember to check the various PhD universities intheUSA for international students and select a program that offers the best opportunities for research and learning. 

Eligibility for Country/Course 

These fully-funded PhD programs in the USA for international students are doctoral programs. Moreover, since these programs are also for out-of-state students, there is no restriction on the country’s eligibility. 

Additionally, the range of fully-funded PhD programs in the US vary from small grants to full studentships.

Level of Scholarship 

The doctoral programs are the highest academic degrees awarded to a student by a university. You will only be eligible for the fully-funded PhD program if you have completed a pre-requisite or postgraduate program. 

The PhD would involve the students engaging independently in original research in a particular field or subject of their choice. 

The duration of fully-funded PhD programs in the USA can differ for various streams or students. American universities usually have some time restrictions. Generally, it is three to five years.

USA’s fully funded PhD programs for international students generally do not cover specific programs. Some scholarships provided by certain universities can be only for particular fields. For instance, the Rice University Fully Funded Doctoral program is restricted to some majors, which include:

• Architecture
• Engineering 
• Humanities 
• Natural Sciences 
• Social Sciences

Several scholarships, grants, and studentships are available for PhD programs in the US. Some of them are sponsored by organizations, while the universities push others. 

We have listed some common ones below for your reference:

• Microsoft Research Dissertation Grant for Doctoral Students
• IBM Fellowship Awards Program for  PhD  students
• Facebook Emerging Scholar Programme
• Microsoft Research Scholarship for Scholars in Europe, Africa Middle East (EMEA)
• Columbia University International Postdoctoral Humanities Fellowship
• University of Michigan African Presidential Scholars Program (UMAPS)
• PEO International Peace Scholarship for Women to Study in USA and Canada

Note for SEO- have deleted the table under this head, which is about the List of Fully Funded PhD Programs. The content in this doc is more detailed and well explained than the content in the existing live blog, hence removing the table.

Application deadlines and notifications will vary according to the grant or scholarship you apply to. Following are the tentative application deadlines for the above-mentioned fully-funded PhD programs.

Eligibility Criteria And Additional Requirements 

The eligibility criteria and additional requirements will vary according to different funding programs. To give you all an insight, here are the entry requirements for the IBM Fellowship Awards Program for PhD Students.

Applications are welcome for students from all nationalities. However, all such nominees:

• Can not nominate themselves and instead must be selected by the doctoral faculty member 
• Have to be enrolled full-time in a PhD program over two consecutive academic years of the award/forfeit the fellowship
• Must have three years remaining in the program at the nomination time so the fellowship can be used for the last two years of study
• Can not be from the US-embargoed countries 
• Should be in the same program for the award duration. Transferring departments or schools is not allowed  

Value of Scholarship 

The value of scholarships will also differ according to various funding programs for PhD. On average,  USD 25,000 to USD 40,000 (INR 20,63,363 to INR 33,01,380)

Selection Process 

The selection process for  fully-funded PhD programs in the USA is based on three factors:

• Merit-based funding
• Need-based funding
• International funding

Major fully-funded PhD programs renew automatically for the next year varies on the basis of the student program.

Tips to Apply for Scholarships in USA for PhD

Pursuing doctoral studies in the United States can be a rewarding journey, but it often comes with significant financial challenges. Securing a fully funded PhD in the USA can benefit many international students. Here are some practical tips to help you apply for scholarships for doctoral programs in the USA:

Start your research at least 12 to 18 months before the academic year you plan to attend. Early preparation gives you ample time to explore various scholarship opportunities and understand their requirements.

• Identify your priorities : Reflect on why you want to study in the USA and what your long-term goals are. This will help you find programs and scholarships aligning with your career objectives and interests.
• Find the right fit : Find universities matching your academic and research interests. Don’t just focus on the school’s reputation; consider the faculty, research facilities, and the overall environment.
• Accredited institutions : Ensure that the universities you apply to are certified by the Student Exchange Visitor Program (SEVP). The Department of Homeland Security's Study in the States website has a searchable list of certified schools.
• Cost of living : Understand that living costs vary across the USA. Research the cost of living in your prospective universities' areas.
• Budget planning : Assess your financial situation and estimate how much you can spend on your education and living expenses. This will help you identify how much scholarship funding you need.
• Institutional aid : Many universities offer scholarships specifically for international students. Look for programs that offer tuition waivers, research assistantships, teaching assistantships, and fellowships.
• External scholarships : Numerous organizations provide scholarships for international students pursuing PhD programs in the USA. Research organizations in your home country and international bodies that offer such support.
• Gather recommendations : Secure strong letters of recommendation from professional and academic references who can attest to your research abilities and academic achievements.
• Write a strong statement of purpose : Your personal statement should clearly articulate your research interests, career goals, and why you are a good fit for the program and scholarship.
• Standardized tests : Ensure you take any required standardized tests (such as the GRE or TOEFL) well in advance and route the results to your chosen institutions.
• Submit early : Scholarship application deadlines often align with admission deadlines. To ensure your applications are considered, submit them well before the deadlines.
• Comprehensive applications : Each application should be meticulously prepared, highlighting your strengths and how they align with the scholarship criteria.
• Student visa : Once accepted, you must apply for the appropriate student visa (F, J, or M). Information on visa applications can be found on the U.S. Department of State's Bureau of Consular Affairs website and the U.S. Department of Homeland Security's Study in the States.
• Pre-departure preparation : Attend a pre-departure orientation organized by EducationUSA to help you prepare for life in the USA. These sessions cover cultural differences, academic expectations, and practical tips for adjusting to a new environment.

In 2024, the United States continues to offer a wide array of fully-funded PhD programs for international students, reaffirming its commitment to fostering global academic collaboration and research excellence. These programs, available across diverse fields of study, not only cover tuition fees but also provide stipends, research funding, and health insurance, making advanced education accessible regardless of students' financial backgrounds. 

American universities prioritize attracting talented scholars from around the world, understanding their crucial role in driving innovation, cultural exchange, and academic progress. For international students, these fully-funded opportunities in the USA represent not just financial support, but a gateway to working with leading experts, accessing state-of-the-art facilities, and joining a vibrant intellectual community. 

In pursuing these programs, students embark on a journey of rigorous academic training and research, poised to emerge as experts and leaders in their respective fields.

Here are some detailed articles on Fully Funded Scholarships for top Study Abroad Destination:

• Fully Funded Scholarships in UK
• Fully Funded Scholarships in USA
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• Fully Funded Scholarships in Spain
• Fully Funded Scholarships in Singapore

How do I get a fully funded PhD in the USA?

Apply early to top programs, secure strong recommendations, and meet the eligibility criteria for scholarships and assistantships universities and external organizations offer for a fully funded PhD in the USA.

Do PhD students get paid in the USA?

Many PhD students receive stipends through scholarships, teaching assistantships, or research assistantships that may also cover living expenses and health insurance.

Are all PhD students fully funded?

Not all, but many prestigious programs in the USA offer full funding, including tuition waivers and stipends, especially for high-achieving students.

What is the cost of a PhD in the USA?

Costs vary depending on your chosen field of study. For example, the PhD tuition fee at Harvard University is usually $55,656 (₹46,50,072). Most universities offer funding opportunities that may waive tuition fees.

Can I study PhD in the USA for free?

Fully funded PhD programs offer tuition waivers and stipends, effectively allowing students to study without paying tuition or other major costs.

Which PhD pays the most in the USA?

PhD in Business, Engineering, Computer Science, and Medical fields often offer the highest stipends and post-graduation salaries in the USA.

Which exam is required for a PhD in the USA?

Most PhD programs require the GRE, but some specific fields may require additional exams, such as the GMAT for Business. International students may have to submit proof of language proficiency like the IELTS or TOEFL.

Which PhD is most in demand?

PhD in Technology, Engineering, Healthcare, Data Science, and Business are highly in demand due to evolving industry needs and research advancements.

Which is better, MS or PhD, in the USA?

An MS is shorter and more career-focused, while a PhD is research-intensive and suited for academic or high-level research positions. The choice depends on your career goals.

Which PhD has the highest salary?

PhD holders in Organic Chemistry, Biology, Environmental Science, Business, Engineering, and Computer Science tend to receive high salaries.

Which field is best for a PhD?

Fields with high demand and growth potential, such as Computer Science, Engineering, Healthcare, Data Science, and Business, are often considered the best for PhD.

Kanika has 5+ years of experience as a writer and content developer. She has written for a wide range of industry verticals, including hospitality, restaurants, non-profits, finance, IT, HR, technology, payroll, and education. She has worked as a creator for a few leading companies and has also helped brands grow through her creative writing.

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PhD Students in the Natural Sciences, Engineering and Applied Sciences, and Medical Sciences

Phd students in the humanities and social sciences programs of the faculty of arts and sciences, phd students in humanities and social sciences programs offered in partnership with other harvard schools, acceptance of financial support.

The Harvard Kenneth C. Griffin Graduate School of Arts and Sciences (Harvard Griffin GSAS) offers incoming PhD students full financial support—including tuition, health insurance fees, and basic living expenses—for a minimum of five years (typically the first four years of study and the completion year). This funding package includes a combination of tuition grants, stipends, traineeships, teaching fellowships, research assistantships, and other academic appointments.

Each student is provided a Notice of Financial Support at the time of admission and is assigned a financial aid officer who administers this funding and is available to assist with financial concerns. Each spring, continuing students supported by Harvard Griffin GSAS-administered funding sources are required to activate their funding for the upcoming academic year using the Student Aid Portal, an online financial aid management system.

A typical funding package* includes:

• grants toward tuition and the Harvard University Student Health Program  paid in full for years G1 through G4 and the dissertation completion year
• a combination of stipend, teaching fellowships, and/or research assistantships during years G1 through G4
• summer research support from Harvard Griffin GSAS or faculty grants following the first four academic years.
• subsidy payments to defray dental insurance and transportation costs.

*In some programs, the timing and structure of living expense support may vary from this pattern.

The initial Notice of Financial Support assumes continuous enrollment as a full-time resident student; students not enrolled are not eligible for Harvard Griffin GSAS financial aid programs. Students may find that their actual enrollment patterns necessitate adjustments to the timing of their funding. Students wishing to defer Harvard Griffin GSAS-administered funding indicate this in the Student Aid Portal during the annual financial aid acceptance process. The options for deferring financial support vary by type of aid; please refer to the applicable sections of the financial aid policy web pages for details. Students who are considering deferring financial support are strongly encouraged to contact their financial aid officer to review how such actions may impact their funding in future years.

While funding packages vary by program, PhD students in the sciences typically receive full funding until they complete their programs of study. Contact your department administrator or financial aid officer for details.

See more detailed information about funding for students in humanities and social sciences programs of the Faculty of Arts and Sciences.

Humanities and Social Sciences Programs in the Faculty of Arts and Sciences

• Celtic Literatures and Languages
• Comparative Literature
• East Asian Languages and Civilizations
• Film and Visual Studies
• Germanic Languages and Literatures
• History of Art and Architecture
• Inner Asian and Altaic Studies
• Linguistics
• Near Eastern Languages and Civilizations
• Romance Languages and Literatures
• Slavic Languages and Literatures
• South Asian Studies

Social Sciences

• African and African American Studies
• American Studies
• Anthropology
• History of Science
• Human Evolutionary Biology
• Middle Eastern Studies
• Social Policy

A number of humanities and social sciences PhD programs are offered in partnership with Harvard's professional schools. While funding packages vary by program, PhD students in these interfaculty programs generally receive at least four years of financial support for tuition, health fees, and living expenses; most programs provide dissertation completion fellowships as well. For more information, refer to your Notice of Financial Support or contact your financial aid officer .

Interfaculty Programs in the Humanities and Social Sciences

• Architecture, Landscape Architecture, and Urban Planning
• Business Administration
• Business Economics
• Health Policy
• Organizational Behavior
• Political Economy and Government
• Public Policy

Each student is provided a Notice of Financial Support at the time of admission and is assigned a financial aid officer who administers this funding and is available to assist with financial concerns. Students are required to formally accept their financial aid offers and acknowledge their understanding of financial aid policies. Students should also consult their academic programs to determine whether program-specific conditions apply.

Each spring, continuing students supported by Harvard Griffin GSAS-administered funding sources are required to activate their funding for the upcoming academic year using the Student Aid Portal, an online financial aid management system. Continued eligibility for financial aid is contingent upon an annual report by the faculty that the student is making  satisfactory progress toward the degree.

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Fully Funded PhD Programs in Public Policy and Public Administration

People often ask us about fellowships to fund doctoral study, here is a list of universities that offer fully funded PhD Programs in Public Policy and Public Administration. In general, finding and entering a PhD program that offers automatic full funding to its doctoral students is easier than winning a competitive external doctoral fellowship. When a doctoral program indicates that they provide full funding to their Ph.D. students, in most cases this means they provide each admitted student full tuition and a stipend for living expenses for the four to six-year duration of the student’s doctoral studies. Not all universities provide full funding to their doctoral students, which is why I recommend researching the financial aid offerings of all the potential Ph.D. programs in your academic field, including small and lesser-known schools both in the U.S. and abroad.

Below is a list of universities that offer full funding to all of the admitted students for their PhD programs in public policy, public administration, and public affairs.

Would you like to receive the full list of more than 1000+ fully funded programs in 60 disciplines? Download the FREE Directory of Fully Funded Graduate Programs and Full Funding Awards !

1. Carnegie Mellon University, Heinz College

(Pittsburgh, PA): The financial aid program is designed to provide students with the financial support necessary to enable them to successfully complete the PhD program. If PhD candidate is in good standing, they will receive a full-tuition scholarship for their entire tenure in the program. The student will receive a $27,000 stipend (no work required) for their first academic year.

2. Duke University, Sanford School of Public Policy

(Durham, NC): Duke University and the Sanford School of Public Policy are committed to fully supporting Public Policy PhD students for five years through a combination of scholarships, fellowships, research or teaching assistantships and stipends, provided that students maintain satisfactory progress in the program.

3. Georgia State University, Andrew Young School of Policy Studies

(Atlanta, GA): The Andrew Young School has been able to fund virtually all full-time students for at least three years. Assistantships typically provide full tuition waivers and stipends of $18,000 per year. Three new doctoral students each year receive Andrew Young or AYSPS Dean’s Scholar Fellowships, which provide an additional $6,000 annually.

4. Pardee RAND Graduate School

(Santa Monica, CA): All our Ph.D. students are supported by a combination of fellowships and scholarships that cover tuition, include a living stipend, and can enable them to graduate debt-free.

5. Princeton University, Woodrow Wilson School of Public and International Affairs

(Princeton, NJ): Unless externally funded, all doctoral program students receive 100% of tuition and required fees support. The School offers a need-based stipend for living expenses for up to five years.

6. University of Michigan, Gerald R. Ford School of Public Policy

(Ann Arbor, MI): At present, new doctoral students enter our program with a funding package sufficient to cover tuition, insurance, and living expenses for the first five years of study.

7. University of Southern California (USC), Sol Price School of Public Policy

(Los Angeles, CA): All Ph.D. students are supported for four years through a combination of fellowships and graduate assistantships that provides year-round full tuition, a competitive stipend, and health and dental insurance. Students beyond their fourth year obtain support through teaching or research assistantships, or funding from USC and/or outside sources. Ph.D. students have access to stipends for conference travel.

8. University of Washington, Evans School of Public Policy & Governance

(Seattle, WA): We offer all students admitted into our doctoral program four to five years of full funding through a mix of research and teaching assistantships at the Evans School. Full funding consists of a tuition waiver, a monthly stipend of approximately $2300-2600, and health insurance coverage.

9. American University

(Washington, D.C.): Upon acceptance into the program, students selected for AU funding are granted a fellowship with full funding for four or five years of study. Fellowship is contingent on maintaining satisfactory progress each year. The fellowship with full funding includes tuition benefits as well as an annual stipend.

10. University at Albany

(Albany, New York): The department offers fellowships with multiple years of funding that include a full tuition waiver and stipend. In these fellowships, you work as a research and teaching assistant, enabling you to gain valuable experience to prepare for your dissertation and the academic job market.

11. University of Delaware

(Newark, DE): All full-time doctoral students are admitted with 4 years of funding support, which includes a stipend for an assistantship assignment and a 100% tuition scholarship.

12. University of Georgia

(Athens, GA): The Department of Public Administration and Policy places all PhD students on teaching or research assistantships that provide tuition waivers and stipends ranging from approximately $15,000 to $18,000 for a nine-month academic year. Assistantships also require at least a 13-hour per-week work commitment.

13. Syracuse University

(Syracuse, New York): All Ph.D. students receive department funding at the time of admission and are required to serve as graduate assistants (GA) for both research and teaching apprenticeships. All Ph.D. students obtain experience in the classroom, students receiving four years of funding from the PAIA department.

14. New York University

(New York, NY): All Ph.D. students without alternate funding sources are eligible to receive a four-year research apprenticeship, which carries a stipend, health insurance, a $1000 start-up grant, and 100% tuition remission.  Research apprentices work up to 20 hours a week.

15. Oregon State University

(Corvallis, OR): The Public Policy Graduate Program has been able to provide competitive Laurels Tuition Scholarships, McNair Scholarships, and Graduate Teaching/Research Assistantships for the majority of their students. All funding decisions are based on merit.

16. Cornell University

(Ithaca, New York): They offer 5 years of funding to all students who are admitted to the program, and this funding is not tied to work with specific faculty. You do not need to have a specific faculty member agree to support your application to be admitted.

17. Northeastern University

(Boston, Massachusetts): All admitted PhDs are awarded Stipended Graduate Assistantships (SGA). These awards offer a stipend, tuition remission, and the NUSHP health plan to full-time students. Our program is fully funded for 5 years.

18. Ohio State University

(Columbus, OH): Historically, all Glenn College doctoral students have been fully funded (including tuition, stipend, and healthcare benefits) for at least four years. Stipends and healthcare benefits are competitive with those of other top schools of public affairs. All applicants are considered for funded positions as part of the application review process.

19. University of North Carolina

(Charlotte NC): The Public Policy program is committed to providing academic year funding for all full-time students for four years provided that students maintain good standing in the program. Students will receive a Graduate Assistantship that typically pays $18,000 for the 9-month academic year.

For application tips on applying to a PhD program, see  How To Get Into a Fully Funded PhD Program: Contacting Potential PhD Advisors .

Hope you will find your desired university from this list that offers fully funded PhD Programs in Public Policy and Public Administration

Sign up to browse our fellowship database to learn about other opportunities to fund graduate and doctoral studies.

Last Updated August 14, 2022

© Victoria Johnson 2020, all rights reserved.

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Fully Funded PhD Programs , PhD in Public Administration , PhD in Public Policy , Public Policy Fellowships

First Esteemed Fellows Dinner Of The New Year: Networking In San Franc...

English teaching fellowships abroad: mark pan on the fulbright eta in ..., 9 thoughts on “fully funded phd programs in public policy and public administration”.

Do you have Phd. fellowship information on Educational Leadership

Check out our article “Fully Funded PhD Programs in Education.” Some are relevant, including the PhD program in Educational Leadership at Drexel University.

Great list! Keep up the good work as I will be looking to pursue a PhD and a comprehensive list is immensely helpful.

hi; I look for full fund PHD of mechanical engineering for the spring semester in USA, please inform me. thanks.

Interesting list. Any chance you will be compiling one for funded Public Health PhD programs? Or the even more elusive- DrPH?

Great suggestion, will do some research!

I want to do fully funding PhD programme in environmental engineering in the US. Please send the details of top US universities for a PhD in environmental engineering.

I am searching for a fully funded PhD program in social Policy.Can you kindly update me on the various universities that offer this course?

Also, Cornell’s PhD in Policy Analysis and Management program

Comments are closed.

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EWC Graduate Degree Fellowship 2025 in USA (Fully Funded)

The EWC Graduate Degree Fellowship program is a Fully Funded Master, and PhD Degree scholarship at the University of Hawaii , Manoa, USA campus. Apply for the EWC Graduate Degree Fellowship 2025.  The Fellowship is open to U.S. Citizens and citizens from Asia, and the Pacific countries . The Scholarship is Funded by the East-West Center while pursuing a graduate program at the University of Hawai‘i at Mānoa (UHM).

This Fellowship also allows participants to participate in educational, cultural, residential community building, and leadership development programs at the East-West Center. You have time to apply until 1st December 2024 . The EWC Graduate fellowship c overs Tuition Fees, Housing, Meals, Stipend, Health, book, and any other cost . The details about the East-West Center-Graduate Degree Fellowship 2025 are given below.

Details About EWC Graduate Degree Fellowship 2025

• Study Country: United States
• Host Organization:  East-West Centre (EWC)
• Host Institute:  University of Hawaii, Manoa Campus, USA
• Degree level:  Masters/Doctoral
• Type:  Fully Funded, Partially Funded
• Deadline: 1st December 2024

Eligible Countries for the EWC Fellowship

Individuals who are permanent or a citizen of these countries can apply for the East-West Centre Graduate Fellowship 2024.

• United States
• Pacific Region :  American Samoa, Australia, Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Guam, Kiribati, Marshall Islands, Nauru, New Caledonia, New Zealand, Niue, Northern Marianas, Palau, Papua New Guinea, Samoa, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu, Wallis & Futuna Islands
• Southeast Asia :  Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste, Vietnam
• South Asia :  Afghanistan, Bangladesh, Bhutan, India, Iran, Maldives, Nepal, Pakistan, Sri Lanka
• East Asia :  China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea, Russia, Taiwan

Financial Benefits

• Health insurance.
• Books expense.
• Housing in an EWC dormitory.
• Partial funding towards meals.
• Any other Incidental expenses.
• Additional funding for field study, and attending conferences are also offered on a competitive basis.

Eligibility Criteria

• Be a citizen of the above-mentioned country.
• Candidate must have obtained a bachelor’s degree.
• An applicant must have a minimum grade point average of 3.0 (4.0=A scale)
• The University of Hawaii requires proof of English Language such as IELTS, TOEFL.
• You may grant an exception from IELTS or TOEFL if your academic program was in a country where English is the first language; b) you received a degree from that institution within the past five years

Required Documents

Submit these documents by December 1st, 2024.

• Apply online for the EWC Fellowship at www.eastwestcenter.org/applyGDF  
• You must submit a separate application at the University of Hawaii as well by December 1st.
• Curriculum vitae or resume. Application Acknowledgment
• Passport Bio Page.

Submit these Documents by January 10, 2024 .

• Official transcripts
• An official IELTS or TOEFL score

Please be sure to check the UH Office of Graduate Education website ( https://manoa.hawaii.edu/graduate /) for complete details. You must complete your admission application by  January 10 .

The University of Hawai‘i launches its online application system ( https://manoa.hawaii.edu/graduate/ ) on August 1 each year for admissions the following year.

Application Link

Visit the official website Link below to apply for the EWC Graduate Degree Fellowship 2025.

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The PhD program in Social Work and Social Welfare provides a generous and competitive funding package to allow its students to focus on their coursework, research, teaching, and social service activities. 

Students receive support to cover their tuition, healthcare, and a stipend for five academic years. The funding package is provided as follows:

• Year 1 – Fellowship 
• Year 2 – Graduate Student Research Assistant (GSRA)
• Year 3 – Graduate Student Research Assistant (GSRA)
• Year 4 – Graduate Student Instructor (GSI)
• Year 5 (funding split) – SSW Fellowship during Fall term and Rackham one term Dissertation Fellowship during Winter term

Note: Summer funding is provided for four academic years.

Example Funding Based on the Fall 2024 and 2025 School Year 

(amounts are adjusted each year based on tuition costs)

Learn more about being a GSRA or GSI.

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Edo IDP First Class Graduate Secures Fully-Funded US Varsity PhD Scholarship

• A first-class graduate from Edo State University, Amos Ishaku, has secured a fully-funded PhD scholarship in the USA
• Ishaku is one of the inmates at the Internally Displaced Persons (IDP) camp in Ughorgua, Ovia North-East LGA of Edo state
• The Edo IDP first-class graduate will resume his PhD programme later this month at the University of Illinois

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Benin City, Edo state - One of the inmates at the Internally Displaced Persons (IDP) camp in Edo state, Amos Ishaku, has secured a fully-funded PhD scholarship from the University of Illinois, Chicago, in the USA .

Ishaku graduated with First Class Honours in Chemical Engineering from Edo State University, Uzairue, in November 2023.

BREAKING: Tension as organisers of ‘End Bad Governance protest’ demand IGP sack, give reason

The coordinator of Home of the Needy, Pastor Solomon Folorunsho, disclosed this to journalists in Benin on Friday, August 9, Nigerian Tribune reports.

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Folorunsho, who manages the IDP camp in Ughorgua, Ovia North-East LGA of Edo state said Ishaku is set to resume his PhD programme later this month at the University of Illinois.

He stated that Ishaku’s achievement highlights the importance of creating an enabling environment for the less privileged.

As reported by The Punch, Ishaku has been a beacon of hope for the over 4,000 children, most of whom were displaced by the Boko Haram insurgency in the northeast.

Ishaku’s academic journey has been decorated with numerous awards, including:

• The Best Graduating Student 2023 Award
• The Mike Ozekhome Award for Overall Best-Graduating Student,
• The Best Student Award in the Department of Chemical Engineering,
• Honours for Excellence in Entrepreneurship and the Faculty of Engineering.

NECO: Jubilation as Nigerian governor approves N888 million for examination fees for 39,709 candidates

Folorunsho said:

“This is to let the world and our friends know that the support they are giving to the orphans, widows, displaced people, and the vulnerable in our centre is yielding great results.

“Besides those who graduated last year and those about to graduate, more than 200 are currently studying at different universities, with no fewer than 150 others processing their admissions.”

ABUAD graduate secures fully funded PhD scholarship

Meanwhile, Legit.ng reported that Cynthia Falegan, a graduate of the Afe Babalola University Ado-Ekiti (ABUAD) was admitted to PhD programme with a master’s degree.

Falegan will study PhD in Chemical Engineering at the University of Toledo, Ohio, in the United States of America (USA).

She disclosed that the programme is full funding, which will pay for her tuition during the five years of study.

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Adekunle Dada (Politics and Current Affairs Editor) Adekunle Dada is a journalist with over 5 years of working experience in the media. He has worked with PM News, The Sun and Within Nigeria before joining Legit.ng as a Politics/Current Affairs Editor. He holds a B.Sc. in Mass Communication from Lagos State University (LASU). He can be reached via [email protected].

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• NCHU Taiwan Government Scholarships 2025 (Fully Funded)

Application is invited to apply for NCHU Taiwan Government Scholarships 2025. This is a fully funded scholarship program for international students to undertake Bachelor’s, Master’s, and PhD.

National Chung Hsing University (NCHU) in Taiwan is a comprehensive university located in Taichung, established in 1919. It is renowned for its research and academic programs across a wide range of disciplines, including agriculture, engineering, business, and social sciences.

NCHU is known for its strong emphasis on research and innovation, fostering an environment of academic excellence and industry collaboration. The university also has a vibrant campus life with a variety of student organizations and cultural activities. Its strategic location in Taichung provides students with access to a dynamic city known for its cultural heritage and economic development.

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• National Chung Hsing University (NCHU)
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Also Check: University of Brunei Darussalam UBD Graduate Scholarship 2025 (Fully Funded)

Eligibility

Possess a high school diploma or higher; have performed well at his/her most recent academic institution and be of good moral character.

Be neither a Taiwanese national nor an overseas Taiwanese compatriot.

Have never enrolled in an educational institution in Taiwan for the same level of degree as the current application.

Not be an exchange student through an academic cooperation agreement between an overseas university/college and an educational institute in Taiwan.

Have no record of being revoked from an MOE Scholarship program or other government-sponsored scholarship.

Cannot accept any other R.O.C. government-sponsored scholarships or subsidies concurrently with this scholarship.

If the recipients fail to pass the grade standard in the first semester, the scholarship will be canceled in March next semester.

If the recipients fail to pass the grade standard in the second semester, the scholarship will be canceled in September next semester.

If the recipients fail to pass the grade standard in two consecutive semesters, the scholarship will be revoked.

Also Check: Stanford University Knight Hennessy Scholarship In USA 2025 (Fully Funded)

Amount of Scholarship

–  Graduate:  A monthly stipend of NT$20,000 –  Undergraduate:  A monthly stipend of NT$15,000 *Tuition and miscellaneous fees are waived NTD40000/semester (excluding insurance, internet, accommodation fees).

Duration of Award

–  Ph.D.:  4 years maximum. (48 months) –  Master:  2 years maximum. (24 months) –  Undergraduate:  4 years maximum. (48 months) * Maximum duration  for any combination of programs under this scholarship: 5 years

February and September are the first months of the semesters; thus the scholarships can only be remitted after the registration procedure.

The stipend will be remitted at the end of the month, starting from the beginning of the academic year in September.

January scholarship might be delayed  because of the changing of the fiscal year.  The schedule of money remitting will be different in February because of the Chinese New Year holiday. Please prepare beforehand.

Also Check: Bond University HDR Scholarships in Australia 2025 (Fully Funded)

How To Apply

OIA does not take charge of this scholarship, please refer to the [ related website ] to know more application and upgraded information.

Recipients need to turn in  a copy of the last semester’s transcripts  to OIA at the beginning of each semester to confirm the scholarship eligibility. 

For graduate students who are writing their thesis without taking any courses, please download the  Evaluation Form .

For more information please check the official source.

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Also Check: Australian Government Scholarship 2025 (Fully Funded)

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Europe: 20+ fully-funded PhD positions

Discover a wide range of courses and programs at prestigious universities across Europe in disciplines such as chemistry, biological sciences, biochemistry, biotechnology, engineering, molecular biology, medical sciences, agricultural sciences, soil science, environmental science, water science, physics,  mathematics, geosciences, computer science, industrial engineering, downstream processing, and more. Below is a list of schools offering the positions as well as direct links to the posts in the EURAXESS portal.

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• Karlsruhe Institute of Technology 
• Medical University of Vienna
• Institute of Haematology and Transfusion Medicine 
• University of Bergen 
• Basque Center for Macromolecular Design and Engineering POLYMAT Fundazioa
• Université de Liège
• Inserm U1297
• Università Della Calabria 
• Austrian Centre of Industrial Biotechnology (ACIB GmbH)
• Lund University 
• University of Salerno
• University of Southern Denmark 
• iBET - Instituto de Biologia Experimental e Tecnológica 
• INSA Rouen Normandie 
• Hasselt University 
• Institute of Agrophysics of Polish Academy of Sciences
• University of Modena and Reggio Emilia 
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PhD Student in Characterization and Recovery of Bionanoparticles for Vaccine Delivery and Gene Therapy, Karlsruhe Institute of Technology (Germany)

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PhD Student in Molecular Biology, Oncology and Hematology, Institute of Haematology and Transfusion Medicine (Poland)

PhD Student in Causal Decision Making, University of Bergen (Norway) 

PhD Fellowship in Applied Chemistry and Polymeric Materials, Basque Center for Macromolecular Design and Engineering POLYMAT Fundazioa (Spain)

PhD Student in Characterization of thermo-hydro-mechanical properties of longwall goaf for geothermal energy storage in abandoned coal mines, Université de Liège (Belgium)

PhD Student in urinary cytokines for the early detection and outcome assessment of kidney injury, Inserm U1297 (Spain)

PhD Student in MetacMed - Acoustic and mechanical metamaterials for biomedical and energy harvesting applications, Università Della Calabria (Italy)

PhD Fellow in Wind Modeling, UiT The Arctic University of Norway (Norway) 

PhD Fellow in Geodynamics and Surface Processes, University of Bergen (Norway)

PhD Student in Separation and purification of bionanoparticles by convective material and 3D-printed material, Austrian Centre of Industrial Biotechnology (ACIB GmbH) (Austria)

PhD Student in Synchrotron Methods and Applications in Sweden, Lund University (Sweden)

PhD Student in Industrial Engineering (chemical engineering, mechanical engineering, electronic engineering) - University of Salerno (Italy) 

PhD Student in Model-based prediction of bionanoparticle separation by continuous ultracentrifugation and convective chromatography, Austrian Centre of Industrial Biotechnology (ACIB GmbH) (Austria)

PhD Student in LLM-assisted Multirobot Mission Planning and Control, University of Southern Denmark (Denmark)

PhD Student in Area of Natural Bioactives & Nutraceuticals, iBET - Instituto de Biologia Experimental e Tecnológica (Portugal) 

PhD Student in Electrochemical Gold-Catalysed Processes, INSA Rouen Normandie (France)

PhD Student quantum mechanical modelling of polymers, Hasselt University (Belgium)

PhD Student in legume-based diversification of cereal cropping systems, IRTA (Spain)

PhD Student in Splash phenomenon as a mechanism of transportation of soil bacteria, Institute of Agrophysics of Polish Academy of Sciences (Poland)

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PhD Student in Palynology, University of Modena and Reggio Emilia (Italy)

PhD Student in AI-modelling of Powerful Microwaves in Fusion Plasmas, University of Southern Denmark (Denmark) 

PhD Student in personalized medicine in chronic kidney disease, Inserm U1297 (France)

PhD Student in method development and simulation of solid / liquid interfaces,

University of Iceland Science Institute (Iceland)