 Furthermore, while most Tsinghua undergraduates must choose a specific major upon entrance, Xinya students declare their majors at the end of freshman year, enabling them to explore several different fields of study.In 2016, Schwarzman Scholars program was established with almost US$400 million endowment by Steven Schwarzman, the chairman and CEO of the Blackstone Group and other multinational corporations and global leaders.Modeled after the Rhodes Scholarship, the Schwarzman Scholars program annually selects and funds 150-200 scholars across the world to enroll in one-year master's degree programs specifically designed for the purpose of nurturing future leaders in Global Affairs.