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A fellowship is a short-term opportunity, lasting anywhere from a few months to several years. Fellowships focus on professional development and are sponsored by a specific association or organization looking to advance leadership in their field. They can be found in a variety of fields including graduate study, research, community development, training, and field exploration. Fellowships take a focus on experiential learning, and fellows are often provided with unique experiences not typically available to someone in an entry-level position. Fellowships often provide a stipend, though not comparable to the salary of a full-time position. Other incentives are often provided, such as healthcare, student loan repayment aid, and housing stipends.

Fellowships are generally awarded through a competitive process to people with a strong educational or professional background. Some fellowships are focused on funding specific academic or professional experiences; others provide seed money or support for innovative projects.

At UT, the Office of National Scholarships and Fellowships provides information and mentoring for students who wish to apply for nationally competitive scholarships and fellowships.