LEWISTON – Bates College raised more than $120 million in a six-year campaign that ended in June, the college announced Tuesday.
The $120.9 million is double what the college raised in its last major campaign, which ended in 1996.
“It’s just a great feeling,” Vice President of External Affairs Bill Hiss said Tuesday. “These are great results on two sides: all that the funds will do for the youngsters, and secondly it demonstrates that Bates can raise serious money.”
About half of the $120.9 million will be added to the college’s endowment, bringing that endowment up to about $235 million, college officials said.
The remaining money will be used to build a new dining commons that will open in January 2008 and new student housing on Mountain Avenue and College Street, said Victoria Devlin, vice president for college advancement at Bates. The new dorms will open in September 2007, Devlin said.
The larger facilities will not make room for additional enrollment at Bates, Devlin said, but also will relieve crowding. Space is so tight in the dining facilities that the college can only store food for one day. During special events, Bates brings in refrigerated trucks and plugs them in, she said. Student housing is also crowded, she said. The new space will house 150 students.
Some of the money will also be spent on financial aid, faculty pay raises, improving curriculum and boosting technology.
Bates is one of the more expensive colleges in the country.
The cost for tuition, activities and room and board last year was $42,100. This fall it is rising to $44,350. The average financial aid also is rising, from $21,933 to $24,369. About 40 percent of Bates’ 1,685 students receive scholarships, college officials said.
Bates now gives more than $17 million a year in scholarships, Devlin said.
She said 18,813 people donated to the fund-raising campaign. Many of them were alumni, parents, faculty, students, and friends of the college, many of whom live in the Lewiston-Auburn area.
Individual donations ranged from $1 to more than $5 million, Devlin said.
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