I'm guessing that the use of the word "fellowship" is to make it more enticing for not only mom and dad to agree to let you take a year off from school but to make it sound like you are doing something truly special.
Colleges of course do this already and it called by different names such as Drexel's coop program which has been around since 1919:
Like Northeastern's coop program as well. They build the 6-months to 1 year off into their degree. Not sure if any student's make 80K but they do make a decent amount for an intern
Colleges of course do this already and it called by different names such as Drexel's coop program which has been around since 1919:
http://en.wikipedia.org/wiki/Drexel_University