Billionaire and Blackstone Group founder Stephen Schwarzman has announced the creation of the Schwarzman Scholars program at Tsinghua University in Beijing, China. It’s mission? Schwarzman Scholar Program sends students to China. The scholarships, to be funded by Schwarzman’s own $100 million dollar donation as well as $200 million more from other international donors, will function similarly to Oxford’s prestigious Rhodes Scholarship though will obviously allow students to study in China rather than the U.K.
Starting in 2016, 200 international Schwarzman Scholars annually will get the opportunity to study in China at one of the country’s most prominent educational institutions in an all-expenses-paid, year-long program in Public Policy, International Relations, Engineering, or Economics & Business. These elite students will then leave the program with a Master’s Degree.
Schwarzman hopes that encouraging students from around the world (though scholars from the United States will represent the largest proportion) to study in China will foster an enduring academic and cultural relationship between the rapidly rising China and the rest of the world. Classes in the Schwarzman Scholars program will all be taught in English, further emphasizing the program’s mission of connecting Western, English-speaking powerhouses like the United States and the United Kingdom with the increasingly relevant China.
The Schwarzman Scholars program’s international commitment is also reinforced by its impressive advisory board, which is graced by influential figures such as former British Prime Minister Tony Blair, former U.S. Secretaries of State Henry Kissinger, Colin Powell, and Condoleezza Rice, and even famous cellist Yo-yo Ma.
The Schwarzman Scholars program represents a very exciting new opportunity for U.S. students looking to study abroad. With its high level of prestige in its host university and advisory board, setting in an emerging world superpower, and its fantastic zero dollar price tag, the program looks poised to provide quality international education to students when it does kick off in 2016.
*Photo Courtesy of BusinessInsider.com