Since 1946, the Academy of American Poets has regularly awarded
Fellowships to American poets for distinguished poetic achievement. The
Fellowship was the first award of its kind in the United States and remains one
of the most distinguished. Fellows are elected each summer by majority vote of
the Academy's Board of Chancellors. No applications are accepted. The
Fellowship is now awarded to one poet each year, and carries with it a stipend
of $25,000.