Michigan Technological University's Board of Control approved the start of a capital campaign at its July meeting, and made the goal of the campaign $200 million.
This will be the third phase of a long-term campaign, with this current $200 million public phase lasting three years in itself. This phase will raise funds mostly for endowed faculty support and student financial aid.
"Michigan Tech's goals are to attract outstanding faculty and to provide the best hands-on education to prepare our students to be leaders in our technological world," says MTU President Glenn D. Mroz. "This campaign will help us meet those goals."
The progress in the previous capital campaign phases has been encouraging so far, with $120 million already raised from a few major donors who were approached privately. Some of that money has been used to endow faculty positions, bumping the number of such positions up from five to 16. Nearly $11 million also has been added to scholarship and fellowship funding.
"The importance of private support for education at state universities is increasing dramatically as state funding continues to shrink," says Dave House, chair of the campaign committee. "Private funding is the only way to secure the University's future."
Writer: Sam EgglestonSource: Glenn Mroz, Michigan Tech
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