Give a Stipend

A stipend is a taxable fellowship paid to a student which is typically used as a living allowance. Stipends are often made as an incentive for a student to attend a class or participate in a particular program at VCU. Stipends are never payments involving services performed for the University. Stipends can be paid directly to the student or applied as a credit to a student’s account. Payments made directly to the student are processed through Accounts Payable. Payments applied as a credit are processed through Student Accounting.

Step by Step

  1. Complete Awards and Prizes Form.

  2. Create a Purchase Order

    View Create a Requisition/Purchase Order for instructions.The Purchase Order must contain a detailed description of the purpose of the stipend.

  3. Receive in Banner

    View Receive in Banner for instructions.

  4. Submit the Invoice

    View Submit an Invoice. The Awards and Prizes form serves as the invoice.

  5. Verify Payment

    View Purchase Order, Receiving & Payment Information in Banner. The payment will be direct deposited to individual's bank account or mailed to the recipient's home address. It is the stipend recipient's responsibility to maintain a corrected address on file with the University. The IRS Form 1099 MISC will be sent to the recipient's home address. Procurement Services is responsible for Internal Revenue Service reporting of stipend payments of $600 or more in a calendar year (IRS Form 1099MISC).

For More Information

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Accounts Payable »
912 W. Grace Street, 5th Floor
804-828-1077 (ext 1)

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