The official average total tab for tuition, fees, room and board for students attending public universities in their own states increased by 34% between 20, from $14,499 to $19,189. In this way, donations can help to make college more affordable, at least for the students who get scholarships.īut the price of going to college keeps rising. For example, funding scholarships is the top priority of the University of Kentucky’s campaign to raise $2 billion. Some donations pay for specific grants and scholarships. The latter are technically independent but exist for the sole purpose of raising and managing money for a specific school. Typically, public universities raise money through campus-based fundraising offices and affiliated foundations. Since the 1990s, most public universities have treated fundraising as an increasingly significant source of revenue, on top of taxpayer dollars and tuition payments. But states have cut their average per-student funding for their public universities by 25% over the last three decades. Public universities did little fundraising until the mid-1970s because they received ample government money.īillions of dollars still flow to these schools, overall, from the taxpayers in their states as well as federal money. John Harvard was a minister who left the newly established college half his estate and a large number of books in his will, back in 1638. Harvard, for example, is named after its first donor. The rest face fewer choices as many of these schools are being forced to stretch their budgets thin and cut academic programs and, in extreme cases, scholarships.Įducational fundraising is as old as U.S. Meanwhile, the universities that get less funding are struggling to compete for the donations that can help make up for the steep reductions in state spending on higher education that began more than 30 years ago.Īs a professor of higher education management and finance conducting research about the private donations that help fund public universities, I’m increasingly concerned that this practice is making the richest public universities richer. Some of the most prestigious public universities, such as the University of California, Los Angeles and the University of Washington, have since 2011 begun to join schools like Stanford and Johns Hopkins universities in the top 10. But public universities are hardly on the sidelines. This new record haul marked a 7% increase from the prior year.Īs usual, private universities generally led the way. universities raised nearly US$47 billion in the academic fiscal year that ended in mid-2018.
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