Vanderbilt University is offering merit awards for prospective freshmen students. The bursaries are open to both US and international students who are pursuing the undergraduate program. These are awarded to study the subjects offered by the university. Vanderbilt University is a private research university founded in 1873 and located in Nashville, Tennessee. It was named in honor of shipping and rail magnate Cornelius Vanderbilt, who provided the school with its initial $1 million endowments despite having never been to the South.