The J. William Fulbright Foreign Scholarship Board (FSB) was created by the U.S. Congress to supervise the U.S. government's premier international educational exchange program, the Fulbright Program. The board, which is appointed by the president of the United States, consists of 12 members drawn from academic, cultural and public life. Each member serves a three-year term. (A complete list of current members can be found here: http://exchanges.state.gov/education/fulbright/ffsb/ .

The intent of Congress in creating the board was to establish an impartial and independent body which would assure the respect and cooperation of the academic world for the educational exchange program, particularly in the selection of grantees and of educational institutions qualified to participate.

The FSB sets policies and procedures for administration of the Fulbright Program, has final responsibility for selection of all grantees, and supervises the conduct of the program both in the United States and abroad.

Source: http://www.iie.org/FulbrightTemplate.cfm?Section=Fulbright_Program_Overview