the numbers published in the year 2007 by the student activities office stating that one in ten undergraduates participated in Greek life. Student housing On-campus undergraduate students at the University of Chicago participate in a house system in which each student is assigned to one of the university's 7 residence hall buildings and to a smaller community within their residence hall called a "house". There are 39 houses, with an average of 70 students in each house. Traditionally only first years were required to live in housing, but starting with the Class of 2023, students are required to live in housing for the first 2 years of enrollment. About 60% of undergraduate students live on campus. For graduate students, the university owns and operates 28 apartment buildings near campus. Traditions Every May since 1987, the University of Chicago has held the University of Chicago Scavenger Hunt, in which large teams of students compete to obtain notoriously esoteric items from a list. Since 1963, the Festival of the Arts (FOTA) takes over campus for 7–10 days of exhibitions and interactive artistic endeavors. Every January, the university holds a week-long winter festival, Kuviasungnerk/Kangeiko (Kuvia), which includes early morning exercise routines and fitness workshops. The university also annually holds a summer carnival and concert called Summer Breeze that hosts outside musicians and is home to Doc Films, a student film society founded in 1932 that screens films nightly at the university. Since 1946, the university has organized the Latke-Hamantash Debate, which involves humorous discussions about the relative merits and meanings of latkes and hamantashen. People , there have been 100 Nobel laureates affiliated with the University of Chicago, 21 of whom were pursuing research or on faculty at the university at the time of the award announcement. Notable alumni and faculty affiliated with the university include 33 Nobel laureates in Economics. In addition, many Chicago alumni and scholars have won the Fulbright awards and 53 have matriculated as Rhodes Scholars. Alumni In 2019, the University of Chicago claimed 188,000 alumni. While the university's first president, William Rainey Harper stressed the importance of perennial theory over practicality in his institution's curriculum, this has not stopped the alumni of Chicago from being among the wealthiest in the world. In business, notable alumni include Microsoft CEO Satya Nadella, Oracle Corporation founder and the sixth-richest man in America Larry Ellison (who attended for one term but chose