The Foundation for International Exchange of Students (FIES), incorporated under the laws of the State of Arkansas as a non-profit organization, was established at the University of Arkansas, Fayetteville, in 1949 by a group of faculty members to promote educational exchange and intercultural activity. The principal effort of the Foundation is providing scholarships for international students to attend the University of Arkansas as well as to encourage Arkansas students to study abroad. It also attempts to integrate all students from abroad into the civic life and cultural activities of the campus and state. Over the years FIES has supported reciprocal exchanges with colleges in Japan, Austria, Finland, Korea, Dominican Republic and Honduras. In 1995, the Foundation established an endowed John and Marie Lavallard International Scholarship to honor their many years of work and dedication on behalf of international education.

In conjunction with government funds made available by the Fulbright Act, the Foundation provides the foreign-student scholarships with the help of the University of Arkansas, various University associations, namely fraternities and sororities, civic organizations, such as Rotary, Kiwanis and Lions Clubs, women's organizations, church groups, and individual contributions made by former FIES-sponsored students, faculty, and members of the community. Other ways to raise funds for its programs include sale of used books, cookbooks, annual mail solicitations and silent auctions.

A complete history of the organization was published in the summer 2011 issue of the Washington County Historical Society publication Flashback.