Kennedy Scholarships provide full funding for up to ten British post-graduate students to study at either Harvard University or the Massachusetts Institute of Technology (MIT). Susan Hockfield, the sixteenth president of MIT, described the scholarship program as a way to "offer exceptional students unique opportunities to broaden their intellectual and personal horizons, in ways that are more important than ever in an era defined by global interaction.". In 2007, 163 applications were received, of which 10 were ultimately selected, for an acceptance rate of 6.1%.