The Fulbright Program, including the Fulbright–Hays Program, is one of several United States Cultural Exchange Programs with the goal to improve intercultural relations, cultural diplomacy, and intercultural competence between the people of the United States and other countries through the exchange of persons, knowledge, and skills. Via the program, competitively-selected American citizens including students, scholars, teachers, professionals, scientists, and artists may receive scholarships or grants to study, conduct research, teach, or exercise their talents abroad; and citizens of other countries may qualify to do the same in the United States. The program was founded by United States Senator J. William Fulbright in 1946 and is considered to be one of the most widely recognized and prestigious scholarships in the world. The program provides approximately 8,000 grants annually – roughly 1,600 to U.S. students, 1,200 to U.S. scholars, 4,000 to foreign students, 900 to foreign visiting scholars, and several hundred to teachers and professionals. -- Source: Wikipedia