NEW YORK (AP) -- New York University's School of Engineering has received a $100 million gift and will be renamed after its donors.
NYU announced Monday that the donation from Chandrika and Ranjan Tandon will go toward faculty and new programming.
It will be called NYU Tandon School of Engineering.
NYU says it has agreed to the donors' challenge to raise an additional $50 million for scholarship aid.
The engineering school has nearly 5,000 students, both undergraduate and graduate.
Chandrika Tandon is a NYU trustee, founder of a financial advisory firm, and a musician.
Her husband is an engineer by training who founded a hedge fund in 1990.
Engineering returned to NYU in 2014 after a 40-year absence after NYU merged with Polytechnic University in 2014.