1.11 Established in 1903 by Cecil Rhodes, the Rhodes Scholarship is considered to be one of the world’s most prestigious scholarships, awarded to selected foreign students for postgraduate studies at the University of Oxford. A Rhodes Scholarship covers all university and college fees, offers a personal stipend, and airfare for a round trip to Oxford. Suppose you are selected as one of the recipients of this scholarship in 2017. Would you face any type of economic cost, discussed in the chapter, if you attend the program in 2017?