In 2007/08-year the Chevening Scholarships cost the British Foreign and Commonwealth Office approximately £22 million. In the same year the Chevening Fellowships scheme cost approximately £4 million. In July 2010 the British Foreign Minister announced a cut of £10 million from the scholarships budget, in the context of wider budget cuts. This resulted in a number of scholarships being cancelled for 2010–11. After a review period, the 2011–12 scholarship round opened for applications in February 2011. In 2011–12 the number of scholarships was increased to more than 700 worldwide. In 2015/16 the number of scholarships was increased to 1,500. In 2017/18, the total number of scholarships was 1,650.