Q: Quotation as a part of the sentence Suppose there is a study program called "3-year program in Wizwoz". Is it possible to write a sentence such as 

I am applying for a position in the "3-year program Wizwoz" starting in February 2016.

i.e. is it possible to use a quoted name as a direct part of the sentence?

A: Punctuation is a matter of style, so of course, you may write the "3-year program Wizwoz" to emphasize that you're talking about an official name.  Before you do, however, be aware that style manuals recommend quotation marks for two other purposes.
1) Direct quotation.  So you may confuse a reader who is looking for the brochure from the University of Wizwoz that he thinks you're quoting.
2) Irony, in which the quotes cast doubt on the literal meaning.  If I say the excellent study program, that's praise.  If I say the "excellent" study program, that's probably not.
Formal names and titles are often set with initial capital letters.  You might consider

the Three-year Program Wizwoz

