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Google Summer of Code 2009 (Visit this link)

Google is handing out $4,500 stipends to a select group of college students who will spend this summer contributing to open-source projects, including ones that compete with Google’s own software.
Google is offering fewer stipends this year than last year — 1,000 this year compared with 1,175 last year. But Ms. Hawthorn said that the company is committing the same amount of money to the project as last year — $5-million — and focusing more energy on mentoring and support for the participating students.

Approximate scholarship value: $ 5000000

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Added: Thu Mar 26 2009

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