Stipends. A stipend is a regular payment of money to an individual by the terms of a contract. Other benefits, such as food and housing, often accompany a stipend. Those earning a stipend aren't necessarily employees -- they may be agents, freelancers, interns or independent contractors. College students on scholarship, for example, may receive a stipend to defray living expenses on campus. Once the terms of the contract or agreement are fulfilled, the stipend comes to an end.