May. 22, 2008
Trustee Martin Tang '70 creates challenge for international scholarships
Cornell is a leading destination for international students, but many top-notch students from overseas decline acceptance because Cornell can offer them a very limited number of scholarships. To encourage more support, Cornell Trustee Martin Y. Tang '70, a Hong Kong businessman, has made a gift to create the Martin Y. Tang International Scholarship Challenge.
The Tang Challenge will match cash gifts and commitments of $750,000 or more, on a $1 for $3 basis, with the goal of creating 12 scholarship endowments of $1 million each, with every $750,000 gift matched with $250,000 from the Tang Challenge. To be eligible for matching, commitments must be made between May 1, 2008, and June 30, 2009, although payments on multiyear pledges may be made over a period of up to five years. Deferred gifts, such as estate designations, are not eligible for matching.
Cornell ranks 13th in the nation among colleges and universities in enrolling international students, with 3,200 undergraduate and graduate international students from 120 countries. International students comprise almost 8 percent of the undergraduate student body at Cornell.
"Higher education is one of our country's best policy tools to level the playing field for millions entering an increasingly globalized society and to alleviate inequality and poverty," Cornell President David Skorton has noted. "Whether international students return to their home countries or stay in the United States to work or continue their studies, they contribute to America's strength. One of the fairest pathways to this goal is through education."
Tang is chairman of Asia Spencer Stuart, a global executive search firm in Hong Kong. He has served on the Cornell Board of Trustees since 1994. For more information on the challenge, contact Jim Mazza at (607) 254-7497 or e-mail at email@example.com.