Cal Launches Massive Fundraising Campaign



Facing dwindling state resources, UC Berkeley officials plan to embark upon a new $2 billion fundraising drive to make up the shortfall, the Chron reports. Dubbed "the campaign for Berkeley," the drive is designed to raise $940 million for financial aid and scholarships, as well as $600 million for capital and construction projects. The plan was conceived, in part, because private universities like Stanford are making new efforts to offer a cheaper education, and Cal officials worried that the university was losing out to the competition.