U of L fundraising approaches $1 billion - WDRB 41 Louisville News

U of L fundraising approaches $1 billion

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LOUISVILLE, Ky. (AP) -- The University of Louisville has surpassed its $1 billion fundraising goal with a few months to spare before the capital campaign ends.

UofL President James Ramsey says the record-breaking campaign will continue the school's upward trajectory in academics, research and athletics.

Ramsey led a campus event Thursday to celebrate the milestone.

The money raised is earmarked for scholarships, endowed faculty chairs, research and new facilities.

When the fundraising campaign began in 2007, UofL set a goal of $750 million by 2013.

School trustees raised the goal to $1 billion and extended the campaign through June of this year.

Kentucky's public universities have endured a series of state spending cuts in recent years. The two-year budget passed recently by state lawmakers includes a 1.5 percent funding cut for universities in the first year.

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