The NYU Polytechnic School of Engineering is set to change its name to NYU Tandon School of Engineering on Monday after receiving a $100 million gift donation, according to a press release.

Donors NYU trustee Chandrika Tandon and her husband Ranjan Tandon want the university to raise an additional $50 million for scholarship aid.

Tandon said she and her husband believe in STEM education and the donation is a good way for them to support students pursuing a career in the applied sciences.

“Our hope is that this gift will bring many more of us together to reinvent engineering, advance New York’s efforts to become a science and tech capital, and foster the talents of young innovators, applied scientists, and entrepreneurs,” Tandon said. “We believe this is just the beginning.”

NYU President John Sexton said the donation will transform engineering at NYU and have a far-reaching impact for the city.

“It will boost New York City’s — and especially Brooklyn’s — growing tech sector and, most of all, it will yield generations of innovators who, connected to NYU’s global network, will solve pressing and challenging problems throughout the world.”

Email Marita Vlachou at [email protected].