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All Daniels School of Business PhD students are fully funded from year one through fee remission, a stipend, and partial health insurance for up to five years of study. 

Students also have access to professional development grants to help fund conference travel and related expenses. 

All Daniels school PhD Students

fully Funded from year one

Up to five years of study

ROI of a Purdue PhD

Funding is about more than the amount provided to off-set income during your time in a PhD program. Prospective PhD students must also consider the cost of living for the institution area. Compare the Greater Lafayette, Indiana, area to that of some of the major metropolitan areas in the U.S.:

Greater Lafayette

  • Food & grocery 7% lower than national average
  • Healthcare 8% lower than national average

Cost of Living Comparisons to Greater Lafayette

NYC San Francisco Boston Los Angeles Chicago
Cost of Living 161% higher 99% higher 57% higher 53% higher 26% higher
Median Rent 5x higher 3x higher 2x higher 2x higher 1x higher

*Cost of living based on minimum stipend amount. Source:

Best Place for Career Opportunities (Greater Lafayette)
SmartAsset, 2022
Best Value School in the U.S.
The Wall Street Journal/Times Higher Education, 2022

Standard Funding Package

Fee Remission 

PhD students will have their tuition paid for five years beginning year 1, conditional on satisfactory progress in the program.


A minimum $25,000 stipend per year is provided by the Graduate School of Management for living expenses. 


Partial student health insurance premium is covered. Minimal fees remain as financial responsibility to the student.

Department Supplementation

In addition to the standard funding package, each department can supplement a student’s funding at their discretion.

Professional Development Grants

PhD students receive $2,100 in grant funding to use at their discretion over the five-year time in program to support conference attendance and travel.

Additional Opportunities

The Purdue Graduate School offers various funding through recruitment, student direct apply, faculty nominated, and dissertation fellowships . There is no additional application for fellowship consideration. All submitted applications are reviewed for consideration.

More Information

Contact us for more information.