[Code of Federal Regulations] [Title 34, Volume 3] [Revised as of July 1, 2005] From the U.S. Government Printing Office via GPO Access [CITE: 34CFR657.30] [Page 365] TITLE 34--EDUCATION CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION PART 657_FOREIGN LANGUAGE AND AREA STUDIES FELLOWSHIPS PROGRAM--Table of Contents Subpart D_What Conditions Must Be Met by a Grantee and a Fellow? Sec. 657.30 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 Sec. 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)