The complete name, or the first reference name, of a fellowship program is capitalized, unless it’s plural. She was admitted into the Olin Fellowship Program. The recipients of Olin fellowships stood and thanked the faculty with a round of applause. The word fellow is capitalized if part of the formal name of the fellowship. She is an Olin Fellow. Olin Fellow Sandra J. Jones made introductory remarks. Do not cap fellow by itself.