Nightly News   |  April 21, 2013

New scholarship for U.S. students studying in China

American financier Stephen Schwarzman announced he is creating a $300 million scholarship program to study in China, which he hopes will rival the influence of the Rhodes Scholarship. NBC’s Lester Holt reports.

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>>> $300 million scholarship program for studying in china. head of the blackstone group said the money will finance a masters program at a university in beijing. 200 students from the u.s. and around the world will attend each year. swartzman will donate $100 million from his personal fortune.