Cornell now heads the list of schools who have announced campaigns of $1 billion or more, according to a press release from the New York institution. The University was the first to announce its own five-year $1 billion fund drive last year. Stanford University followed suit, pledging to raise $1.1 billion. And Columbia University officials earlier this month launched their campaign to garner $1.15 billion for the institution. But officials at several institutions have warned of the difficulties that all the universities will face in their fundraising efforts. Cornell President Frank Rhodes stated higher education is finding itself in a "hostile climate," referring to international events, domestic economic instability, and decreases in government funding to schools. He warned that in the coming years, the university will need to streamline its operations and enforce cost-cutting measures. Cornell's trustees hope to reserve half the money for support of teaching and learning programs and for renovations and construction. The other half will go to endowed professorships, student financial aid and library support. -- Helen JungComments powered by Disqus
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