Pros
Tuition waver for graduate studies. From 2015-2017, I was allowed to take up to 15 credit hours in the fall and spring and up to 6 credit hours in the summer, paid for my the university. This job paid for my master's degree! 20 hours a week of great work experience in research. Got to work alongside faculty and build professional connections. Gained experience in different data analysis software and editing and submitting articles for publication. I was even able to work with some professors on a textbook. This job really enhanced my resume. The professors in my department were very pleasant to work with, and I believe I'll maintain contact with them in the years to come.
Cons
It was difficult to live on the annual stipend. I had to take out a student loan to supplement my expenses.