In 1902, the University of Oxford established the Rhodes Scholarship, according to the will of Cecil Rhodes, who died earlier that year. These Scholarships are funded by an educational grant enabled by the legacy of the statesman, whose intention it was to further harmony and compatibility between English-speaking peoples. It totalled over 3 000 000 pounds after all his other legacies and debts were dealt with, and constituted the larger part of his fortune. Cecil Rhodes foresaw that candidates would originate from Commonwealth countries and that they would be scholars from a variety of academic streams, therefore able to be distributed among all Oxford colleges.
Rhodes Scholarships have become the most prestigious awards for international study offered to students with approximately 90 candidates selected worldwide each year. In Australia, one scholar is selected from each state, plus three additional scholars nationwide each year.
The Scholarship covers all University and College fees, a personal stipend and one economy airfare to Oxford at the start of the Scholarship and one economy airfare back to home country at the conclusion of the Scholarship.