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SAMPLE - Summer Internship Funding Budget Proposal - SAMPLE
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Your Name: ID:
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Colgate Email:
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DETAILS OF YOUR UNPAID/UNDERPAID EXPERIENCE(S)
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The total of all unpaid/underpaid experiences must equate to at least 8 weeks of 35 hours of work per week, or a minimum of 280 total hours. You may combine multiple unpaid/underpaid experiences to reach this threshold.
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Organization and position title:
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Location (City, State, Country):
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Start date:
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End date:
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Total weeks:
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Total hours per week:
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Total compensation: Some students will receive hourly wages, stipends, or other financial benefits from the summer experience. If you will not receive any form of compensation (i.e. your experience is unpaid), please note that and enter $0.00 in cell 12F. If you will earn an hourly wage or stipend, enter your total anticipated PRE-TAX earnings and describe your calculations below. Note: experiences paying $775 or more pre-tax per week do not qualify as underpaid experiences and will not be eligible for Summer Internship Funding.
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Description:Total compensation $
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If you will be participating in a secondary underpaid/unpaid experience, please list the details below. Otherwise, leave blank.
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Organization and position title:
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Location (City, State, Country):
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Start date:
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End date:
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Total weeks:
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Total hours per week:
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Total compensation: If you will not receive any form of compensation (i.e. your experience is unpaid), please note that and enter $0.00 in cell 21F. If you will earn an hourly wage or stipend, enter your total anticipated PRE-TAX earnings and describe your calculations below.
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Description:Total compensation $
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Please use this worksheet to provide itemized details of your proposed budget. Your grant amount will be derived from the evidence you describe below and this simple equation: (sum of demonstrated related living expenses) minus (total compensation you'll receive related to this/these experiences) = grant amount If your compensation will outweigh your costs, your experience is not eligible to qualify for a Summer Internship Funding grant. In this case, please notify internship@colgate.edu that you will withdraw from the program. Maximum awards of $4,500 for experiences where students are living at home or completing a remote opportunity, and $7,500 for experiences that require students to live away from home due to a commute longer than 1-hour from home. Funding will only be granted when the experience necessitates it. Summer Internship Funding grants may not cover all costs of the experience in full. Please note: Colgate cannot legally compensate you for lost wages.
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s
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PROJECTED EXPENSES
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Your projected expenses should reflect only expenses related to your unpaid/underpaid experience. Please research your expenses thoroughly. DO NOT INFLATE AMOUNTS! Not all expense categories may apply to all students. You may budget up to the maximum allocations for each category IF your expenses warrant it. If you are proposing participating in more than one experience, your budget should reflect your total costs.
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Enter total amounts for itemized costs into column C for the ENTIRE DURATION of the experience, not individual days/ weeks. Admin use only
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Expense categoryDescriptionProposed AmountApproved Amount
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One-time travel to and from your summer experience(s):A) If you are living at home or working remotely, enter $0.00 B) If your experience is in your home country, submit round-trip expenses from home. C) If your experience is outside of the USA and outside of your home country, submit round-trip expenses from the location at which you are residing immediately before your experience. D) If you are pursuing an internship outside of your home country, but in the USA, please submit round-trip expenses equivalent to traveling from campus to your experience site. $
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Describe your travel costs listed above and cite the source used to determine options B,C, or D.
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Daily commuting:Students are expected to propose the least expensive, reasonable mode of transport: public transportation or parking/tolls/mileage. If commuting by car, use the federal mileage reimbursement rate of $0.725/mile. No additional car maintenance expenses will be covered, nor will car rentals. Monthly or student passes may be the least expensive option for public transportation. $
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Describe your daily commuting costs listed above and cite your source.
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Housing: A) If housing is provided by your internship or family at no cost to you, enter $0.00 B) If housing is provided by family, but you are expected to contribute to costs, or if you are doing a remote experience, you may budget up to $150 per week for your portion of the rent. C) If housing is not provided by family/internship, you may budget up to $400 per week for your portion of the rent. Note: It will be rare that funding is awarded in excess of the suggested weekly amounts. $
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Describe your summer housing plans and cite your source for options B or C.
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Utilities: Maximum $150 if you are living at home or working remotely. Maximum $150/month if you are living away from home. Students are expected to split utility costs with the number of individuals in their housing situation. Students cannot claim utilites if they are included in the cost of housing $
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Describe your anticipated costs and cite your source.
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Food: Please calculate $150 per week or less for groceries. $
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Other expenses:Some students may incure additional experience-related expenses not represented above such as required equipment and uniforms, lab fees, visas and vaccinations, and more. Program fees up to $1,500 may be accounted for here. $
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Describe "other expenses" listed above and cite your source.
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TOTAL PROJECTED EXPENSES (automatically calculated from your proposed costs): $ -
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AMOUNT REQUESTED FROM COLGATE FOR YOUR SUMMER INTERNSHIP FUNDING
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Projected ExpensesImported from cell E40 $ -
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Projected CompensationImported from cells 12F and 21F $ -
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Requested Amount of Summer Internship Funding $ -
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THIS IS A SAMPLE WORKSHEET - STUDENTS ARE NOT REQUIRED TO FILL THIS OUT FOR THE APPLICATION PROCESS
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Please note: Summer Funding grants are considered taxable income. Funding recipients are responsible for reporting this award on their tax returns. Grants awarded to non-U.S. citizens will be taxed 14% at the point of disbursment; please contact payroll@colgate.edu with questions about your specific situation.
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