With nearly 1,000 applicants in recent years, it is among the most selective graduate scholarship for Americans, with an acceptance rate around 4 percent, and as low as 3.2 percent in 2015.[4] It is widely considered one of the most prestigious scholarships for U.S. citizens,[5][6][7] and along with the Fulbright Scholarship, it is the only broadly available scholarship available to Americans to study at any university in the United Kingdom. The program was also the first major co-educational British graduate scholarship; one-third of the inaugural cohort in 1954 were women.