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Rhodes Scholarships Accrues a Grant of Rs. 746 Crore

Sep 21, 2013 06:13 IST

    The highly-esteemed Rhodes Scholarships, whose alumni include the winners of Nobel Prize and Pulitzer Prize, present and former heads of state, Olympians, judges and eminent academicians, has managed to accrue considerable funds from a Canadian millionaire and a former Rhodes Scholar. A fund of £75-million (Rs.746 Cr) is the largest grant it has received ever. The Scholarship incepted in the year 1903.
    Around 500 scholars were gathered on the occasion of Scholarship’s 110th Anniversary celebration at the Sheldonian Theatre in Oxford when a grant of £75-million was announced by the McCall MacBain Foundation established by John and Marcy McCall MacBain. It includes a £25 million grant, a £25 million challenge/match donation, and a future £25 million to expand the Scholarships into new geographies, revealed a press release by Rhodes Trust on its website.
    The Scholarship, which pulls in the best scholars from the Commonwealth, Germany and the United States every year, was established by Cecil Rhodes, a diamond mining mogul and politician from South Africa. He created the scholarship in his will aimed at preparing future global leaders.
    83 Rhodes Scholars are chosen every year. Under the scholarship scheme, they not only have their tuition fees paid, but also receive an additional allowance to cover their living expense during the course. In addition, they are allowed to access Rhodes House, the building where the Rhodes Trust operates from, and which also shelters the Bodleian Library of Commonwealth and African Studies.

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