Economic Crisis? Not for Yale

State universities may be slashing budgets and hiking tuition to stay afloat, and many private colleges are reducing financial aid to address the effect of the recession on endowments, but not everyone is hurting.

Yale announced Tuesday that:

Yale University concluded the largest fundraising campaign in its history on June 30, 2011, with a total of $3.881 billion raised. Yale Tomorrow remained ahead of schedule for all five years and has substantially exceeded its goal of $3.5 billion.

Yale President Richard C. Levin said, “The Yale Tomorrow campaign has made Yale a stronger institution and magnified our impact on the world. I am deeply grateful for the extraordinary support of our donors. Many generations of students will benefit from their generosity.”

Well that’s reassuring.

This is apparently the most successful college fundraising campaign to date. Columbia, however, plans to eventually raise $5 billion in its own multi-year fundraising campaign. The school’s original campaign was $4 billion but Columbia decided the university could easily raise that amount and decided to up the ante.

Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer