Rich give back more to universities

Wealthy donors are coughing up record amounts for UK universities as tough economic times force the institutions to become more aggressive in raising funds, writes Alanna Petroff for CNNMoney.

Higher education institutions across the UK raked in a record £774 million (US$1.2 billion) in fundraising during the 2011-12 academic year, according to a new Ross-CASE survey. Fundraising was up by 14% compared to the previous year, and by 33% compared to 2009-10. But these results are still light years away from the undisputed fundraising leader, the United States. Higher education institutions in the US raised $31 billion in 2012, according to a survey by the Council for Aid to Education.
Full report on the CNN site