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Duke University raises $308M for financial aid

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DURHAM -- Duke University has surpassed its $300 million fundraising goal to benefit financial aid programs. President Richard Brodhead said Monday that the Financial Aid Initiative has raised $308.5 in new endowments since efforts began in 2005. More than 4,300 alumni, parents and friends contributed to establish 478 new scholarship and fellowship funds, and support 330 existing funds. Officials said $226 million will be dedicated to need-based undergraduate scholarships, more than $20 million to athletic scholarships, and nearly $62 million to graduate and professional student support. Brodhead said in a statement that "financial aid endowment helps us fulfill our core commitment to make a Duke education accessible and affordable." Duke guarantees it will meet 100 percent of its students' demonstrated financial need.

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