The program provides financial assistance to students who have demonstrated superior academic ability and achievement; exceptional promise; and financial need to undertake graduate study leading to a doctoral degree or a master's degree in which the master's degree is the terminal highest degree. Fellowships are awarded in selected fields of study in the arts, humanities and social sciences.
Awards are made for one year, and are renewable for three additional years contingent upon the student making satisfactory progress toward the degree and continued Congressional funding for the program. The award consists of two parts: a stipend to the Fellow for personal expenses, and an institutional payment to be accepted by the institution on behalf of the fellow in lieu of all tuition and fees normally charged to students of similar academic standing.

The fellowship competition is open to graduating seniors, recent graduates not yet enrolled, and those enrolled in but not yet completing their first full year of graduate study. Applicants must be U.S. citizens or nationals, permanent residents of the U.S., or citizens of any one of the Freely Associated States.

Applications materials are available in September of late August. Completed applications must be received in first week of October. The FAFSA must be completed by January 31. Applicants are notified of the fellowship results no later than March 1. Fellowship recipients begin their study in the following fall; Javits fellowships can not be deferred.