Campus News

Gifts to colleges reach record level

For the first time since the Great Recession, giving to colleges has reached a record level, according to a story by The Chronicle of Higher Education.

The Council for Aid to Education reports that U.S. colleges and universities raised $33.8 billion in donations in fiscal year 2013. The council measures giving from people, businesses and foundations through surveys sent to colleges and universities.

The 2013 amount is about 10 percent higher than 2012 and is the first record-setting year since 2008, when giving was at $31.6 billion.

The Chronicle reported that the increased amount raised in 2013 was due in large part to increased alumni giving.