Sonal B. and Ashish S. Deshpande established the Sonal and Ashish Deshpande Endowed Scholarship in Electrical and Computer Engineering in July 2015 to provide annual need-based scholarships for undergraduate students in the Department of Electrical and Computer Engineering under the auspices of the TerpStart Matching Scholarship Program. The fund was amended in 2022 to give a preference for students who are involved in Women in Engineering (WIE), Society for Women Engineers (SWE), and/or Women in Electrical and Computer Engineering (WECE).