New data shows donations to higher education soared last year — but insiders say the bulk went to recruit diverse students for lucrative programs at wealthy schools while poorer colleges floundered.
Philanthropic giving spiked by 12.5% last fiscal year to reach $59.5 billion, the highest year-over-year increase since 2000, the Council for Advancement and Support of Education reported Wednesday. That followed a 7% annual increase in the fiscal year 2021 and a slight decrease the year before that when COVID-19 quarantines shuttered campuses.
Restricted gifts for research and scholarships accounted for nearly 80% of last year’s total, the association of higher education fundraisers found in its annual Voluntary Support of Education survey. “This may be an example of the rich getting richer while the poor get poorer,” said Thomas Plante, a psychology professor at neighboring Santa Clara University, commenting on the CASE survey.
While money to recruit more diverse students pours into STEM and health care programs, most liberal arts schools have seen precious little funding for subjects like English or philosophy.
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