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 stipend is a fixed sum of money and its primary purpose is to cover expenses. Taxes are generally not withheld from stipend payments, but the payee is responsible for reporting his stipend payments to the IRS.here is also a form of compensation called a stipend that is less common than hourly or salary pay as stipends are only paid in select situations.