What is the definition of stripend?

It is possible that you mean 'stipend' rather than 'stripend'.

Dictionary.com defines stipend as:

1. a periodic payment, esp. a scholarship or fellowship allowance granted to a student. 2. fixed or regular pay; salary.

It gives its origin as being from the Latin stīpendium, meaning soldier's pay, which in turn comes from stipi or coins and pend(ere) to weigh out.