Ah, memories of when money grew on trees: a study by the Council for Aid to Education determined that Columbia raised $495.11 million in Fiscal Year 2008, an increase of 17% over FY 2007, good for third in the country. The only two schools to raise more money than Columbia? Stanford ($785.04 million) and Harvard ($650.63 million).
Overall, the 1,052 institutions in the report raised $31.6 billion, an increase of 6.2%. However, that number may be the last increase for several years, as Ann Kaplan, the director of the study, told the Wall Street Journal that many institutions “hit a wall” at the start of the year. Kaplan also predicts that the new year could see the steepest year-to-year decline in decades. So if you see one of these people, consider giving them a hug. Seeing Manhattanville in your lifetime could depend on it.