The German Academic Scholarship Foundation (German: Studienstiftung des deutschen Volkes, or Studienstiftung for short) is Germany's largest, oldest and most prestigious scholarship foundation. In line with its statutes, it supports "the university education of young people who, on account of their exceptional academic or artistic talents and their personalities, can be expected to make an outstanding contribution to society as a whole". The Studienstiftung is non-political, non-denominational, and ideologically independent. It currently supports approximately 0.25 percent of university students in Germany and—through its extended selection of open scholarship programs (ERP, Haniel, McCloy, Mercator Kolleg, and others)—at the most prestigeous universities across the world. The foundation's values are "Achievement, Initiative, Responsibility" (German: "Leistung, Initiative, Verantwortung"). It promotes future excellence in the areas of science, business, public administration, and the arts. Through its sponsorship programme it fosters academic consolidation, interdisciplinary dialogue, a cosmopolitan world view, and international experience. The Studienstiftung is funded by the Federal Government of Germany, the German Federal States, and local authorities as well as by private donors.