The University of Arkansas, based in Fayetteville, AR offers a fully funded PhD in Business. Walton College of Business Ph.D. programs are designed to prepare selected students for careers in academia or government/industry research. Only a small number of students are admitted each year. Most students admitted to a Walton College Ph.D. program receive funding. This funding comes in three forms: tuition waiver, graduate assistantship (GA), and stipend. This financial assistance is renewable annually for a total of 4 years. Graduate Assistantship funding includes a full tuition waiver and an annual stipend of $18,200.