When to let schools know about an external fellowship?

[member 666466]

I have submitted all my grad school applications (physics PhD) and I learned recently that I won an external fellowship that will cover my tuition (up to ~$20K) + stipend (~$40K, so more than any of the other fellowships I've also applied) + retirement/insurance/other benefits for as long as I'm in school, with the only caveat being that I have to work there my summers and a year for every year of fellowship (but hey, that's a guaranteed employment!). Some of the schools I'm applying, the applications aren't even due yet (although my applications are all submitted and can't be edited). I was told that bringing in external funding generally helps in admission process, but also that schools don't actually start looking through apps until January at earliest. I also haven't decided if I will accept this offer since I'm still on the fence about tying up so many years after graduation (I can technically leave the workplace earlier but I have to reimburse accordingly).

1. Should I let the schools know that I have this offer even though I'm not sure I will accept? I think I have an okay shot at other fellowships, but obviously won't know the results until much later. If I don't get the other fellowships but accepted by the universities, am I required to accept this scholarship since they probably considered it in their funding?
2. Do external funding actually help my application, even for top 20 schools?
3. If the answer to (1) is yes, when should I let the schools know (i.e. now vs. Jan when they probably start looking at apps vs. Feb/March when they start sending out results)?

BTW I'm not even sure if this is considered a fellowship because the description calls it a "scholarship" but also calls the stipend as "annual salary".

 

[Vanadium 50]

1. Should I let the schools know that I have this offer even though I'm not sure I will accept?

I would wait until you have accepted.

 

[Dishsoap]

I would wait until you have accepted.

If I can ask a follow-up question, what is the logic behind this advice? When I was applying to graduate school, my admissions offers from a couple of schools were amended once I secured external funding, and from what I understand, it would increase OP's chances of being admitted. Why should OP not let them know before accepting an admissions offer, if not before being offered one?

 

[Vanadium 50]

If he declines the fellowship, there is no external funding, and thus no need to tell anyone about it.

 

[StatGuy2000]

I disagree with @Vanadium 50 on this, since as @Dishsoap has pointed out, if the OP has been offered an external fellowship (or scholarship), that very fact alone would likely increase his/her chances of being accepted to the various PhD programs.

I think some schools actually even require applicants to inform them of any external fellowships they have been won as part of their application, if I'm not mistaken.

 

[Vanadium 50]

"I have been offered a fellowship that would help the department out financially but will not be taking it" is unlikely to move the needle, and certainly won't be as helpful as "I am bringing my own support". If you want to argue prestige, lots of things happen to lots of applicants after the deadline. Why is this a good reason to violate the deadline?

 

[atyy]

I would let the schools know. There is a slight chance its effect will be negative if @Vanadium 50 is on the committee, but most probably it will be neutral, or even positive. You should of course make it clear that you are still deciding on whether to accept the external fellowship.

 

[Vanadium 50]

So, if he is still deciding, what's the urgency?