It really varies to how many people they accept. I'm not sure there's a set number, but I would say they offer 8-14 spots, and usually about 8-10 accept. My class (2011) is one of the largest with 11. We started out with 12 and lost a few and gained a few transfers. We usually have about 200 audition a year, so not as many as some other schools.
We have lots of students from Memphis! Lots of talent coming from Memphis.