The majority of Fulbright grants consist of a monthly stipend that varies between $1,600-$2,500 depending on the host country. The Fulbright Program will typically cover your round-trip ticket as well and if you're awarded an academic scholarship, Fulbright will cover the cost of your studies. When you're applying for admission, the Fulbright grant will cover the cost of applying to 5 U.S. universities.