 Current pupils of Winchester College are known as Wykehamists, in memory of the school's founder, William of Wykeham; former pupils are known as Old Wykehamists, or amongst themselves as Old Woks.Winchester College was founded in 1382 by William of Wykeham, Bishop of Winchester and Chancellor to both Edward III and Richard II, and the first 70 poor scholars entered the school in 1394.In the early 15th century the specific requirement was that scholars come from families where the income was less than five marks sterling (£3 6s 8d) "per annum"; in comparison, the contemporary reasonable living for a yeoman was £5 "per annum".