Education: M.I.T. in the Money

M.I.T. triumphantly reported the success of a fund drive: $25 million raised in two years—actually $5,000,000 beyond the target. In the same breath, M.I.T. announced a new drive.

Over the next five years, said President James Killian, M.I.T. would need "at least another $10 million," and it might not be a bad idea to aim for $20 million. He thought M.I.T. had better start going after it right away.

Biggest recent gift came from Old Grad Alfred P. Sloan Jr., creator of General Motors and doyen of U.S. business—$5.250,000 for a School of Industrial Management, blueprinted by Sloan.

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