At the end of the last school year, my computer science advisor (Dr. Paul) asked me and another student to apply for a grant under this program ("Collaborative Research Experience for Undergraduates in Computer Science and Engineering" by CRA-W, part of the Computing Research Association). Under the program, you do some type of research/computer science project and receive a grant.
So we submitted a proposal. My partner Olga was interested in diabetes research (she was an endocrinologist in Russia), so we put together a research project about creating some type of a patient database to be used by different doctors remotely that would then use some type of artificial intelligence algorithm(s) to recommend treatments based on similar cases.
Well, it's been about a month since I thought we would be notified, but we finally found out that we got it! Yay!
At the time that we applied, the grant amount was supposed to be $1500 per student, but since then it has changed to $3000 per student, so that's extra exciting. We apparently were also awarded $500 for conference travel or other related project costs. (The money is exciting, partly because we had already decided to work on the project next year anyway, for general experience, resume building, and possible independent study credits. So it was a question of "work hard on something all year for intangibles" or "work hard on something all year and get money.")
We are required to keep a weekly journal of our efforts and an updated web site about our project. The three of us are (tentatively) going to meet the week after next to get started.
Edited to add this note: a semester of school costs me about $1000, so this is, in essence, a full scholarship for this upcoming year for me.