Fortunately for most biomedical sciences students^*, financial hardship and graduate school need not go hand-in-hand. Most graduate programs leading to a Ph.D. degree offer full tuition, insurance coverage, and competitive stipends as part of their admissions packages. In the first years of graduate school in the biomedical sciences, financial aid is usually derived from federal training grant monies. In other words, the federal government awards the money to the university, and the university awards it to you. After you select a thesis advisor, your financial aid is usually 'picked up' by your mentor. Students may be encouraged to apply for their own grants, but few people are required to secure their own funding.

Most stipends are classified as "research assistantships" that assume you will work exclusively in the laboratory; teaching requirements and assistantships vary by program. As you are evaluating financial packages for graduate school, keep in mind that stipends are considered taxable income.

Stipend levels for Ph.D. programs vary between institutions, but are currently in the low $20,000 range; some Ph.D. programs use institutional scholarships to supplement the stipends of particularly competitive applicants. Of course, $20K goes further in some cities than others, so consider the cost-of-living as you evaluate graduate programs in the biomedical sciences.