If you are a graduating undergraduate or graduate student from an accredited architecture school in the U.S. then you should check out the SOM Prize and Travel Fellowship for Architecture, Design and Urban Design.  Awarded annually, this fellowship provides talented architects with a $50,000 research and travel fellowship that can be used for conducting research, collaborating with industry experts and other designers, and to pursue independent study.  As you might expect, this fellowship is highly competitive, but finishing as a runner up even has its perks.  The SOM Foundation awards a $20,000 research and travel fellowship to the second place finisher.

A little about the SOM Foundation:

The mission of the SOM Foundation Travelling Fellowship Program is to assist young architects, designers and engineers in expanding their professional education through the observations of culture, history, building and design that can only be achieved through travel. Prior Fellows have travelled to Asia, North Africa, and South America, as well as Europe and the United States.

Learn about the 2011 recipients