H1-B Cap: 65,000 Set aside for Chile & Singapore: 6,800 USA Masters degree: 20,000 Recent News: http://www.uscis.gov/files/pressrelease/H1BFY08Cap040307.pdf Over 150,000 applications received on April 2 & 3. If your application reached on April 4, then it will be returned back. Undergrad students have 40% chance of getting their H1-B approved for FY 2008 since computer is now going to select randomly. USA Masters degree students, you have better chance.