What is stipend meaning?

A stipend is a regular payment of a fixed sum of money, made by an organization or government to different categories of individuals such as employees, scholars, interns, apprentices or artists. It is typically a modest amount and it is usually provided to cover living expenses, such as accommodation, transportation, food, and other basic needs. In the case of scholarship recipients, stipends may also cover education expenses, such as tuition fees and book costs. Stipends may be paid weekly, bi-weekly, monthly, or annually, depending on the terms of the agreement between the organization and the recipient.