All Ph.D. students in good academic standing and progressing normally are fully supported during their graduate studies by a graduate student research assistantship, fellowship, or teaching assistantship. As of fall 2022, current support packages include a living stipend of $36,000 annually, plus payment of tuition, fees, and comprehensive student health insurance during the academic quarters.

Fellowship support provided to outstanding first year graduate students is made possible by the following generous gifts and endowments: the George & Joy Rathmann Fellowship, Carbon-Clarke Fellowship, and the A. Edward Protio Biomedical Engineering Graduate Fellowship. Qualified incoming students also are nominated for centrally administered Graduate Division recruitment fellowships such as the Chancellor's Fellowships, Regents Special Fellowships, Small Department Fellowships, Eugene Cota Robles Fellowship, Graduate Opportunity Fellowships, and UC Santa Barbara Graduate Fellowships.

Many BMSE students may also be eligible for extramural predoctoral fellowships from the National Science Foundation, Howard Hughes Medical Institute, UC Discover and Biotechnology Research Programs, and other agencies.