1 Consider starting a psychology club at your school. 2  Look for volunteer opportunities in your community. 3  Start looking at universities during your junior year.  Get to know your teachers so that they will be able to offer good letters of recommendation.
A stipend is a fixed, regular payment, usually meant to pay for something specific. It's kind of like an allowance, but for grownups â a college scholarship might include a stipend each semester for books, for example.
A: Stipends are taxable when they are for general living expenses. When it comes to stipends from a grantor, if the person has to perform duties to earn the stipend, then it is also taxable. Stipends are not taxable when they are applied to education-related expenses and college tuition.