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Yale Raises Nearly $4B Despite Shaky Economy

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(Christopher Capozziello/Getty Images)

(Christopher Capozziello/Getty Images)

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JOHN CHRISTOFFERSEN, Associated Press

NEW HAVEN, Conn. (AP) – Yale University has raised $3.88 billion despite the worst economy in decades, finishing the largest fundraising campaign in its history.

The Ivy League school plans to use the funds for its largest expansion in decades, to extend its international reach and to make its school of music tuition free.

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 funding for every undergraduate to work or study abroad.

Other projects include a renovated and expanded school of architecture and art gallery.

     (Copyright 2011 by The Associated Press.  All Rights Reserved.)

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