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Penn placed 12th among U.S. research institutions in the number of Fulbright Scholarships awarded by the State Department this year, according to a report released on Monday by the Institute of International Education.

The report lists Penn as having earned 17 scholarships for study abroad out of a 108-person applicant pool.

The University of Michigan in Ann Arbor earned 37 scholarships - the most out of any other school - and Yale University earned 27, the highest of the Ivies.

The Fulbright, sponsored by the U.S. State Department, is the largest U.S. international exchange program, sending thousands of students and professionals to more than 125 countries each year.

18,000 men and women from 175 nations participate in Institute of International Education programs each year.

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