<p>Let me add a third factor: ground work to develop an acceptable project in conjunction with the prospective host institution.</p>
<p>My D, a rising Senior, is in Bolivia this summer in order to develop contacts and a project to be part of a Fulbright app. The curious thing is that, having spent two months there now, she’s a bit less anxious to go back. She may even decide to not apply.</p>
<p>If the OP were to go on the web, and also look carefully at the fulbright website, the OP might notice that several different kinds of scholarships are awarded, with somewhat different requirements. There is a lot of good material online.</p>