What is a fellowship?

A fellowship is any amount paid or allowed to, or for the benefit of, an individual to aid such individual in the pursuit of study or research. A fellowship may take
the form of: (i) payment(s) to the recipient, such as stipend payments; (ii) reimbursement or payment of expenses, such as travel expenses, to or on behalf
of an individual; or (iii) a credit against an existing term bill or a reduction in the amount owed by the recipient to an educational organization in connection with
the pursuit of study or research.