Mahindra Group, Shelby Davis to offer $ 12.5 million scholarship funding

MUMBAI: Mahindra Group and UWC International patron Shelby M C Davis today joined hands to offer $ 12.5 million scholarship funding over the next five years for the students of UWC colleges in India and abroad.

Of the total funding, Shelby Davis will fund $ 7.5 million while Mahindara's commitment will be $ 5 million, Mahindra Group Chairman Anand Mahindra said here today.

Set up in 1997, UWC Mahindra College is a residential school near Pune with around 250 students, from India as well as overseas.

"Our goal is to have UWC Mahindra College, as much as possible, a completely need-blind admissions, which will largely be met by this donation," Mahindra said.

Of the $ 7.5 million contribution of Shelby Davis, $ 5 million will be the additional funding for the Davis scholarships which already finance education of more than 100 American students at UWC Mexico and 13 other UWC colleges.

The remaining $ 2.5 million will go to Davis international scholarships at every UWC college.

The Mahindra Group will contribute $ 5 million in support of need-based scholarship for students at UWC Mahindra College and these funds are expected to support 50 new scholarship each year, 25 for the Indian students and another 25 for students selected by the UWC national committee in other countries.