Education: Boom in Gifts

If the annual cost of U.S. higher education hits an expected $9 billion by 1970, voluntary support must soar to $1.9 billion a year. Yet this gift goal is no mirage. In its third biennial survey, the Council for Financial Aid to Education reported this week that 1,071 colleges and universities in 1958-59 received gifts totaling $751.4 million, a 20.7% hike over —9 56-57-The pattern of giving was especially interesting. Loyal alumuni were the biggest source (20.3%), and even the graduates of tax-supported state universities gave more than ever before; Indiana alumni gave $2,032,435, followed by the University of Michigan with $1,418,127.

Equally significant was a sharp rise in nonalumni individual donations (17.2% of the total), which became the second biggest source of gifts. Perhaps most important, 26% of all the money was given with no strings attached, the kind of gift that educators prefer. Best evidence of a steady increase: the 517 schools taking part in all three of the council’s surveys since 1954 reported a gain in gifts of 94%.