University of Michigan becomes first public university to fundraise $5 billion

Posted at 9:43 AM, Oct 04, 2018
and last updated 2018-10-04 10:43:24-04

The University of Michigan has become the first public university to raise $5 billion in its fundraising campaign history. 

More than 382,000 donors gave to the university's Victors for Michigan campaign. 

School officials say $1.1 billion will go to supporting students. 

"Of the $1.1 billion raised for students, 93 percent directly supports undergraduate and graduate scholarships and fellowships, enabling the university to provide financial aid to more than two-thirds of its 46,000 students on the Ann Arbor campus."

The rest of the funds will be allocated among advancing patient care, research at Michigan Medicine, learning opportunities and state-of-the-art facilities. 

Here's a breakdown of who donated and how much: 

Of more than 382,000 donors, 94 percent gave less than $5,000, and more than half made their first gift to U-M through the campaign. U-M students participated not only as recipients, but also as donors and fundraisers, with nearly 10,500 students giving more than $2.3 million. More than 2,000 faculty, staff and retirees participated.

There are about three months remaining in the campaign for those interested in donating