Education: Fierce Competition for Dollars

When the going gets tough, the tough go fund raising

The campaign season is under way, but more than one president is out on the stump. The nation's colleges and universities are vying for some $5 billion in gifts from corporations, foundations and private citizens. Bowdoin College in Maine kicks off a $56 million fund-raising drive this fall. The University of Southern California is gearing up for a $500 million campaign. Another California university, Pepperdine, is pushing its $100 million "Wave of Excellence" effort. Such fund raising is nothing new; private colleges and universities have been passing the hat for centuries.

Public institutions...

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