Enter the total distance traveled, rate per mile/kilometer, number of meals, meal allowance per meal, and extra expenses into the calculator to determine the travel stipend.
Travel Stipend Formula
The following formula is used to calculate the travel stipend.
TS = (D * R) + (N * M) + E
Variables:
- TS is the total travel stipend
- D is the total distance traveled
- R is the rate per mile/kilometer
- N is the number of meals
- M is the meal allowance per meal
- E is the extra expenses
To calculate the travel stipend, multiply the total distance traveled
by the rate per mile/kilometer. Then, multiply the number of meals by the meal allowance per meal. Add these two results together and then add the extra expenses to get the total travel stipend.
What is a Travel Stipend?
A travel stipend is a predetermined amount of money provided to an individual, often a student, researcher, or employee, to cover travel expenses for a specific purpose, such as attending a conference, conducting research, or completing a work assignment. The stipend is typically used to cover costs such as transportation, accommodation, meals, and other travel-related expenses. The aim is to alleviate the financial burden of travel and enable the individual to focus on the purpose of their trip.
How to Calculate Travel Stipend?
The following steps outline how to calculate the Travel Stipend.
- First, determine the total distance traveled (D).
- Next, determine the rate per mile/kilometer (R).
- Next, determine the number of meals (N).
- Next, determine the meal allowance per meal (M).
- Next, determine the extra expenses (E).
- Finally, calculate the Travel Stipend using the formula: TS = (D * R) + (N * M) + E.
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem :
Use the following variables as an example problem to test your knowledge.
total distance travelled (D) = 250 miles
rate per mile/kilometer (R) = $0.50
number of meals (N) = 3
meal allowance per meal (M) = $15
extra expenses (E) = $50
