Simplify the following text for a Grade 8 native English-speaking person.
Original: The college was founded in 1448 by Margaret of Anjou ( the Queen of Henry VI ) , and refounded in 1465 by Elizabeth Woodville ( the Queen of Edward IV ) .
Simplified: It was first founded in 1448 by Margaret of Anjou ( the Queen of Henry VI ) , and refounded in 1465 by Elizabeth Woodville ( the Queen of Edward IV ) .