Preparing a Fellowship Budget

Certain fellowships offer a set stipend to each winner in a given year. Other fellowships offer variable stipends and tailor the amount of each winner’s award, recognizing the cost of the proposed project and, in some cases, the applicant’s financial need.

For those applications requiring a budget, the applicant will prepare an estimate of expenses. The “Estimated Budget” form is used for IEFP-administered fellowships and may be adapted for other fellowships when a form is not provided. Base your estimates on current and reliable sources of information.

To estimate air travel costs, search the Web for airfares and strike a likely average. Take into account factors that might impact ticket prices, such as seasonal or holiday rates. Include costs for travel to and from airports.

To estimate daily ground transportation costs, as well as food and housing expenses, some of the best sources of information are Yale students who have recently held a fellowship or completed an internship in your proposed location. JYA/JTA students currently abroad or recently returned may be other good sources. If you have applied to a formal program, you may be able to obtain a description of common needs and current prices from that office. Web and book travel resources such as the Lonely Planet guides for specific locations also offer useful information.

Take a realistic measure of the amount of food (including snacks and beverages) you consume on a weekly basis. Try to estimate how much that would cost if purchased in your proposed location. For estimates of miscellaneous costs, be equally realistic about your needs over an extended time, factoring in items required in special circumstance (e.g., bottled water, personal care and first aid supplies, cell phone and internet access, postage). While fellowship monies will cover supplies required by your project (such as books, film, artist’s supplies, and the like), most awards will not cover the purchase of equipment (e.g., cameras and accessories, camcorders, laptops, etc.) that will become the student’s personal property.

If you are going abroad, Yale offers emergency evacuation assistance through MEDEX, but you are responsible for your health care/prescription drug coverage. Additionally, seniors may not be covered by their family’s health insurance after graduation (further insurance information). Plan ahead for immunizations and call early to schedule an appointment (country immunization requirements).

Fellowships are not intended to cover lost wages from summer employment. However, if you are concerned about the loss of summer earnings needed for term-time expenses, you may seek advice at the Office of Student Financial Services even if you are not currently on financial aid.

All fellowship applicants are expected to report pending or received funding from other sources for the same or a similar project. If multiple awards are received, an equitable arrangement will be made among the funding agents.

Further information is available on tax issues.