Each year, the Folger Institute in Washington, DC awards approximately five long-term and 45 short-term fellowships. Long-term fellowships support scholars in residence for six to nine months with a monthly stipend of $5,555. Short-term fellowships support scholars in residence for one to three months with a monthly stipend of $2,500. Scholars must hold a terminal degree in their field in order to be eligible for either fellowship. The Folger has now opened its short-term fellowships to members of the performing arts community, as well as scholars working at archives, museums, and libraries.