Fellowships for UPSE  graduate students are available on a competitive basis. The scholarship benefits include monthly stipend, tuition and other allowances. Additionally, the UPecon Foundation, Inc., through its Health Policy Development Program (HPDP), provides grants to students who are interested in pursuing a course in health economics. The HPDP is an initiative funded by the United States Assistance for International Development (USAID) to provide technical assistance to the Department of Health.

The Philippine Center for Economic Development (PCED), a government-owned and controlled corporation created by virtue of Presidential Decree No. 453, is mandated to give financial and other assistance to the research, teaching, training and other programs of the UP School of Economics.

Other scholarships offered to deserving students are:

• Graduate Trust Fund Dissertation Fellowship
• Ayala Corporation-UPSE Fellowship Grant

Owing to limited funds, however, applicants are encouraged to seek other sources of financial support.

In addition to scholarships, awards for outstanding research papers are offered to graduate students. These are:

• Best Graduate Research Paper Award. The best among the research papers submitted by M.A. and MDE graduate students taking Econ 299 and Econ 300 will be awarded a cash prize of PhP50,000.
• Publication Award.  This award will be given to any graduate student who can publish a paper in an internationally recognized professional journal, not necessarily his or her thesis or research paper. A cash prize of PhP50,000 for every published paper awaits writers.
• Manolo and Vicki Abella Research Award on Labor and Migration. Graduate-level thesis writers (Econ 300) and Econ 299 students may opt to write papers on labor, migration, or human resources. The best paper wins a prize of US$1,000.