Yale University, the second richest university in the nation, made headlines today by announcing the university has raised 3.88 billion dollars in its latest 5-year fundraising campaign. This marks the biggest fundraising campaign in the long history of Yale University. In these tough economic times, endowments at universities across the country – including Ivy League endowments – have been hard hit and so the result of Yale’s fundraising campaign is welcome news for higher education.
According to John Christoffersen of “The Huffington Post,” “The five-year campaign exceeded its goal of $3.5 billion. More than 110,000 alumni, parents, friends, corporations and foundations contributed. The campaign will help pay for two new residential colleges expected to increase student enrollment by 15 percent to 6,100. It will be the university’s largest expansion since it began admitting women in 1969. Yale plans to add more international scholars to its faculty and add funding for every undergraduate to work or study abroad.”