Along the same lines, if you decide to transfer, an outside fellowship will often follow you. Which means that you can change schools more easily since they will not be as concerned about your funding. Now that you know why to apply for a fellowship, the next question is how . There are a number of resources you can use. Check with a faculty member in your department.
Many departments keep lists of fellowships.
Many departments will send you a list of fellowships to apply for when they send you your application. Keep your eyes peeled. Sometimes a fellowship may pop up at the last minute, and unless you pay attention you may miss it. It is best to start thinking about this in your junior year, if not before. The considerations you will need to make are mainly about the GREs , which might influence your choice of classes.