Section 657.30 - [Effective until 8/15/2025] What is the duration of and what are the limitations on fellowships awarded to individuals by institutions?(a)Duration. An institution may award a fellowship to a student for-(1) One academic year; or(2) One summer session if the summer session provides the fellow with the equivalent of one academic year of modern foreign language study.(b)Vacancies. If a fellow vacates a fellowship before the end of an award period, the institution to which the fellowship is allocated may reaward the balance of the fellowship to another student if-(1) The student meets the eligibility requirements in § 657.3 ; and(2) The remaining fellowship period comprises at least one full academic quarter, semester, trimester, or summer session as described in paragraph (a)(2) of this section. Authority: 20 U.S.C. 1122