Any interest earned on HEC funds held by USEFP will be reinvested in student grants, thereby further supporting the educational objectives of the partnership. The selection process under the renewed agreement will remain merit-based, with no fixed quotas for any particular group, region, or category. The renewed partnership also envisages broader collaboration beyond scholarship opportunities. The renewed agreement marks an important milestone in what has evolved into a decade-long partnership between HEC and USEFP and represents the third phase of the Fulbright-HEC collaboration. The signing ceremony for the renewed agreement was rescheduled from its original date following the passing of the father of Dr. Peter Moran, Executive Director of USEFP.