"In business, poor performance leads to bankruptcy or, at a minimum, a restructuring of the company. In American education, failure entitles the bankrupt system to even more taxpayer dollars."

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With respect to the creation of the program, I introduced the bill in September 1945, immediately after the end of the war with Japan, in August of that year. A number of considerations, of course, entered into my decision to introduce the bill, growing from my own experience as a Rhodes scholar and the experiences our government had had with the first Word War debts, [Herbert] Hoover's efforts in establishing the Belgian-American Education Foundation after World War I, [and] the Boxer Rebellion indemnity.

— J. William Fulbright