History The college was founded by Henry VI of England and Henry Chichele (fellow of New College and Archbishop of Canterbury), in 1438, to commemorate the victims of the Hundred Years' War. The Statutes provided for a warden and forty fellows; all to take Holy Orders: 24 to study arts and theology; and 16 to study civil or canon law. Today the college is primarily a graduate research institution, with no undergraduate members. Unique to All Souls, all of its members automatically become fellows (i.e., full members of the college's governing body). It has no undergraduate members, but each year, recent graduate and postgraduate students at Oxford are eligible to apply for a small number of examination fellowships through a competitive examination (once described as "the hardest exam in the world") and, for those shortlisted after the examinations, an interview.