Darden China Scholarship Reaches $1 Million

18/04/2014

by Jacqui Lazo

More than 115 alumni and friends of the University of Virginia Darden School of Business have contributed to the Darden China Scholarship Fund, which reached the $1 million mark at the beginning of the year. This collective support enables Darden to attract the most exceptional students from the Greater China region at a time when competition for top international talent among leading business schools is more intense than ever, due to increased tuition costs, scarcity of international loans and limited scholarship funds.

"The Darden China Scholarship, which is a terrific example of strong support from our international community, is now a key element of our recruitment of top students from China," said Carter Hoerr, Darden's executive director for advancement. "Fundraising for the scholarship began several years ago at the grassroots level, and as the fund grew over time, it attracted several leadership gifts that have helped us achieve our goal."

The endowment will produce sufficient annual earnings to award merit-based scholarships to students from Singapore and Greater China, including China, Hong Kong, Macau and Taiwan. The Darden School determines the number of scholarships awarded each year — first preference is given to students who have graduated from a university or technical school in the Greater China geographic area or individuals who have lived 10 years or more in Greater China or Singapore. Second preference is given to students from the broader Asia-Pacific geographic area.

The Darden China Scholarship Fund was collaboratively established in October 2005 by the Chinese students of the Class of 2005; Laurence Franklin, a visiting Darden professor at the time; and his brother, Sterling Franklin. The early stage of the initiative was well-received. The Franklins made a leadership donation, and the Class of 2005 raised initial gifts and pledges totaling more than $150,000.

Darden alumnus Shawn Liu (MBA `05), founder and CIO of AZ Investment Management, played an instrumental role in launching the Darden China Scholarship Fund as a student, and he continues to lead the fundraising for this initiative in China. His dedication and enthusiasm encouraged many of his fellow Chinese alumni to rally around the cause and give generously to the fund.

Liu is well-known to current Darden Second Year Student and China Scholar Run Yang, who met with him several times in Beijing, where Yang worked before enrolling in Darden. "Earning the Darden China Scholarship was a great honor for me," said Yang, who will join Citigroup after graduation. The other Darden China scholar, First Year Student Mingbing "Larry" Han, worked for a Beijing travel company prior to business school and is interested in interning over the summer for a technology company either on the West Coast or in China.

Exceptional students from Greater China like Yang and Han are in high demand at business schools across the globe, and financial aid opportunities such as the Darden China Scholarship help entice these students to Darden.

About the Darden School of Business
The University of Virginia Darden School of Business is one of the world's leading business schools, offering MBA, Ph.D. and Executive Education programs. The unique Darden experience combines the case study method, top-ranked faculty whose research advances global managerial practice and business education, and a tight-knit learning environment to develop responsible and complete leaders who are ready to make an impact.