Preparing a Fellowship Budget
Some fellowships offer variable stipends to recognize the cost of each winner's proposed project. Applicants are required to submit a budget that outlines estimated expenses.
What a budget can do for you
A careful budget conveys to the committee that you take your project and your application seriously. Further, planning a budget will give you a better idea about what to expect of the location to which you'll be traveling and of the project you'll be undertaking.
Estimating your expenses as accurately as possible also helps to ensure you don't spend your funds too quickly, which would be problematic in the final days/weeks of your project or if you must return a portion of your funds after leaving your project early.
A word about health insurance
Please remember that Yale Health Plan might not cover you where you travel. Yale does offer emergency evacuation assistance through MEDEX, but you are responsible for your health care and prescription drug coverage. The cost of health insurance for the duration of your project is a valid budget item.
For budget guidance...
For tips on how to create a budget and what resources are available to help, please refer to our "Preparing a Fellowship Budget" handout.