What is Stipend?
Stipend is a periodic payment that is provided to an individual, usually awarded for the pursuit of a particular interest. Stipends are commonly paid to trainees, interns or students with scholarships. While sometimes the word stipend is used interchangeably with salary, they are different. Salary is compensation paid in exchange for work produced. Stipend is compensation that is given to aid in the pursuit of a particular interest. There are some cases of salaried employees who are awarded a stipend to be used to attend conferences, buy books and other forms of personal professional development