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The great grant and change of the US universities

Trường Lăng

June 9, 2022

News

The great grant and change of the US universities

Trường Lăng

June 9, 2022

The great grant

A few weeks ago, billionaire John Doerr – one of the most successful venture capitalists in Silicon Valley made everyone so surprised when he funded Stanford University USD 1.1 billion for the researches on climate change control and renewable energy. The gift of billionaire John Doerr and his wife is the second great grant in history that has been received by any educational institution, only after USD 1.8 billion granted by billionaire Michael R. Bloomberg to Johns Hopkins University in 2018.

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Billionaire John Doerr granted Stanford University USD1.1 billion.

According to the statistics from the Council for Advancement and Support for Education (CASE), The grants and voluntary contributions to universities and colleges in the United States of America in the fiscal year of 2021 is USD 52.9 billion, up 6.9 percent from 2020. Out of the donors, institutional investors accounts for 33.1%; alumni accounts for 23.2%; the rest is the other corporations and individuals. 

The grants is increasing year by year, the fact is shown that universities gradually no longer depend on tuition fees as a source for their research activities. This situation not only takes place in the United States of America, but also globally.

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Korea Advanced Institute of Science and Technology was granted Won 30 billion.

Right in Asia, the Korea Advanced Institute of Science and Technolog has just been granted Won 30 billion by an unnamed alumni. Said the billionaire’s share, he only wants to help the “juniors” who are difficul in their studies, he hopes they will gain the achievements that contribute not only to the nation’s development but also to the world’s.

The changing process of universities in the United States of America.

In many global parts, Government financial aid for higher education has decreased year by year, that’s why universities have been trying to get as much more private grants as possible.

For example, in the United States of America, in the 1970s, the operating budget of public universities was 75% funded by the Government, this figure is only 10-15% now. Data from the American Council on Aid to Education shows that, even during the 2008 economic recession, the amount of contributions received by universities is increased decade by decade.

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Harvard University received the great grant.

When universities realize that it is spent more expensive to operate and finance the researches and tuition revenue cannot meet the demand, they begin to change in the attraction of the grants. One of the most notable trends is the attraction of non-alumni sponsors, such as institutional investors or corporations with a research need in a particular field.

Naturally, the prestigious institutes will receive the greatest grants. According to USNews statistics, 9 out of 10 names in the list of universities that have received the most grants are in the Top 25 universities nationwide. 

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The universities participate in NCAA basketball tournament were donated more than 600 million USD.

The prestigious Harvard University was ranked at the first, Yale University was at the second, Stanford was at the third. It is a surprising fact that the grants, investments or assets received by Harvard in 2020 are USD 42 billion; much more than the gross domestic product of many countries in the world.

Besides the reputation from the fields of research and technology, universities have also attracted a lot of grants thanks to sports. In 2019, NCAA American College Basketball League granted each national finalist USD 611 million, excluding the grants from other sport brands. The actual figure is much higher in the high-achieving intitutes like Duke or Kentucky.

Source : VietNam.Net (Premium)

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