Fellowships are a form of gift aid, money that does not need to be repaid. They are similar to scholarships, but are directed at graduate and professional school students instead of undergraduate students.
More than $1 billion in private scholarships are awarded each year to nearly 200,000 graduate and professional students. Students in Ph.D. programs are more likely to receive a private fellowship than students in Master’s or professional degree programs, but more than half of private fellowships are received by students in Master’s degree programs and about a fifth are received by students in professional degree programs.
The following are some of the more well-known graduate fellowship programs.
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