What is stipend pay?

Stipend pay refers to a fixed, regular payment made to individuals, often to cover specific expenses or provide financial support for particular activities, such as internships, fellowships, or educational programs. Unlike a salary, stipends are typically not tied to hours worked and may not be subject to the same tax regulations. They are often used to help cover living costs, travel, or educational materials, making them a common form of compensation in academic and professional development settings.