Generous benefactor supports UCLan students
The Ashwin Govindji Kagdadia Scholarship Fund aims to financially support students
A generous benefactor is supporting students at the University of Central Lancashire (UCLan).
Ashwin Kagdadia is offering £5,000 per year to help a number of financially challenged students throughout the duration of their three or four-year courses.
The fund is open to those who are full fee-paying UK students from a household with an income of less than £30,000 and have specific high levels of academic attainment.
Ashwin said: “Donations to UCLan can fund life-changing bursaries and scholarships so I was delighted to be in a position to add to the wide range already available.”
The Loughborough University alumnus and donor says his inspiration for supporting worthwhile causes comes from his parents, the late Govindji Madhavji Kagadadia and the late Mrs Ottamben Govindji Kagdadia.
"Donations to UCLan can fund life-changing bursaries and scholarships so I was delighted to be in a position to add to the wide range already available"— Ashwin Govindji Kagdadia
He said: “My philosophy is to put something back into the community. There is no better spiritual satisfaction than to help those less fortunate and if my donation inspires others in the community to do likewise, then I consider it a blessing.”
The money for the Ashwin Govindji Kagdadia Scholarship Fund will come from his company’s investment property in Preston city centre and the endowment fund will see the finance continue for at least 250 years.
Ashwin, who retired in July 2018 when he sold his accountancy practice, said: “A friend introduced me to an investment project near UCLan’s Preston Campus where a developer is selling newly constructed flats on a 250-year lease.
“It got me thinking that I could acquire a debt free flat through my company, AGK Limited, and the £5,000 per annum of rental income from the flat could be used to fund scholarships for high attaining but financially challenged students.”
"We’re delighted Ashwin has approached us with this very kind donation. His generosity will directly support our students for many years to come"— Vice-Chancellor Professor Graham Baldwin
The philanthropist, who is based in Leicester, contacted the University with his proposition after setting up a similar scholarship fund at Staffordshire University.
Vice-Chancellor Professor Graham Baldwin said: “We’re delighted Ashwin has approached us with this very kind donation. His generosity will directly support our students for many years to come.
“The new Ashwin Govindji Kagdadia Scholarship Fund is a welcome addition to the wide variety of bursaries and scholarships we already offer to our UK and international students.”
The selected students have already received the first instalment at the start of their degree course in September 2021. Once all have graduated, in either 2024 or 2025, the scholarship fund will move on to assisting further new students.