Offer from Virginia Tech, Management

"I am pleased to inform you that the Management Department Graduate Studies
Committee recommends that you be offered admission to our doctoral program
in management for the fall of 2008. You will be receiving an official offer
of admission from the Graduate School in the near future. We were very
impressed with you and your qualifications for graduate study during our
phone interview."

这段我看懂了。下面那段，我不是很明白，请大家帮我看看：(本人是超级菜鸟，所以可能有些菜鸟问题，请大家原谅)

“Within a few weeks after receiving your acceptance, I will send you a
contract for a graduate assistantship for the 2007-2008 academic year.  The
amount is still to be determined exactly, but will be approximately $1,571
per month ($14,139 annually) plus a tuition waiver.”

首先第一个问题，2007－2008 academic year？ 这个是笔误吧，应该是2008-2009吧？

第二个问题，从上面的话来看，好像只签订一年的graduate assistantship的协议。难道graduate assistantship只是给一年，那第二年怎么解决呢？是不是第二年的到了之后再签呢？

第三，1571/month, 怎么就14139 annually呢？这个怎么计算的？

第四，每个月1500多刀在VT够了么？那里的物价水平有哪位大牛说说。

非常感谢哈！！！！！

恭喜啊，兄弟！！！

cong~!

cong~~