Budget Resources

WHAT IS A BUDGET? WHY DO I NEED ONE?

Most Mu Phi Epsilon Foundation Grants & Scholarships require a budget. A budget is a document that allows you to demonstrate how you will use the grant or scholarship funds to meet the goals of your application, whether for continued study, travel, a special project, purchase of an instrument or piece of technology, or other uses. Professionals of all types regularly prepare budgets to demonstrate to application reviewers that they understand the expenses associated with their application and have a well-reasoned plan to generate enough income (e.g., grants and scholarships, personal income, etc.) to meet those expenses.

WHAT DOES A BUDGET LOOK LIKE? TRY ONE OF OUR BUDGET TEMPLATES!

For all Mu Phi Epsilon Foundation Grants & Scholarships requiring a budget, please use one of the following BUDGET TEMPLATES. These templates are designed to help you create a detailed, high quality budget!

Failure to provide an appropriate budget may result in disqualification of the application. All applicants are strongly encouraged to use the provided budget template.

WHAT ARE ELIGIBLE & INELIGIBLE BUDGET EXPENSES?

INELIGIBLE EXPENSES

Unless otherwise noted in the scholarship description, a Mu Phi Epsilon Foundation scholarship or grant may NOT be used to pay for:

  • Everyday living expenses, such as rent, groceries, gas, subscriptions (e.g., Netflix, Spotify, etc.), or any other expenses not associated with a specific educational or professional opportunity (see below)

  • Educational loans, such student loans

  • Personal debt, such as credit card debt or personal loans

ELIGIBLE EXPENSES

Mu Phi Epsilon Foundation scholarships and grants may be used to pay for:

  • Educational expenses, such as tuition, required textbooks, program fees, etc.

  • Musical expenses, such as scores, instruments, recording fees, technology, expenses related to concerts or programs, or other expenses related to musical projects.

  • Expenses related to educational or professional opportunities (e.g., festival participation, conference attendance, performances, or other professional activities), including travel costs (airfare/transportation, lodging, and meals, excluding alcohol), registration, and/or other materials or fees.

Inclusion of ineligible expenses in the budget may result in disqualification of the application. If you have any questions about the eligibility of your expenses, please write to grants@mpefoundation.org.

Some other useful online resources: