Stanford University raises record US$1 billion in '12

For the eighth straight year, Stanford ranked first in the Council for Aid to Education's annual college fundraising survey, which shows that elite institutions continue to grab a disproportionate share of donor dollars.

In the 2012 fiscal year, roughly 3,500 U.S. colleges and universities raised US$31 billion, 2.3 percent more than the previous year. The record was set in 2008 when schools took in US$31.6 billion before fundraising dropped during the height of the financial crisis.

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