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|
Date: Saturday, October 21, 2006;
Page B10
Resource:
Daily Herald
$1 BILLION FUNDRAISING DRIVE
U-Md. Aims to Boost Student Aid, Affordability
The University of Maryland plans to
raise $1 billion during a seven-year capital campaign, pledging $350
million for financial aid to students aspiring to attend the state's
flagship public university.
School officials said yesterday that the drive is the most ambitious
of its kind in the Washington area for a public university, and the
biggest part of it would aim to make the university more affordable,
enabling top students from poorer families to attend the
increasingly expensive school.
Tuition and mandatory fees at Maryland, as well as at other schools,
have increased steadily over the past several years, as has the cost
of living, making affordability a major issue at many universities.
C.D. Mote Jr., Maryland's president, said it costs a student paying
in-state tuition about $20,000 a year to attend the school, which
has been ranked as one of the nation's top 20 public universities.
"It's very clear going forward, outside of the entire tuition
discussion, that the cost of coming here is going to be more and
more difficult for students of modest means," Mote said. "And we
have a lot of them. So we need to raise resources. . . . Our goal is
that no student who has the capacity to come here and succeed will
be barred from that."
The $350 million would be split between financial aid for students
in low-income families and scholarships designated by the donors or
the university administration. For example, a Maryland program
provides free tuition and mentoring for high-achieving students at
certain high schools in Prince George's County and Baltimore; more
money would enable the program to be extended.
Brodie Remington, vice president for university relations, said the
fundraising drive began silently two years ago, helping officials
estimate how much they could raise. They began with a goal of $800
million, he said, but donations exceeded expectations, and they
increased their goal to $1 billion.
So far, the school has raised $312 million, Remington said.
Of the $1 billion sought, school officials said $225 million would
be used to attract faculty. Officials would put $175 million toward
improving academic and athletic facilities and would designate $250
million to encourage innovation and entrepreneurship.
Remington said top public universities in Virginia, Michigan and
California have undertaken programs of similar size to make a
college education more affordable.
"It does put us in the big leagues," he said.
Joshua Wyner, vice president for programs at the Jack Kent Cooke
Foundation, which provides aid to talented students who require
financial assistance, said he has seen statistics showing that less
than half of all top-achieving working-class 12th-graders received a
college degree. He said that there are many causes but that part of
the problem is the increasing cost of going to college.
"There's inadequate need-based aid for those students," he said. "We
welcome President Mote's initiative in this regard."
|
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