Rice University launched a capital campaign in late October to raise $2 billion by 2025 to fund endowments, expansions and enhancements for the campus, faculty, facilities and student life. Announced in a press release Oct. 29, the campaign is said to be the largest fundraising effort in the university’s history.
“We’re building this campaign upon our commitment to be transformative, visionary, innovative, creative and equitable," Rice University President David Leebron said in the news release. "We’re setting a bold goal for a bold future of Rice that will provide greater opportunities to address the needs of our world.”
The campaign, entitled “Be Bold: The Campaign for Rice,” has already confirmed $1.2 billion in commitments, with $100 million each coming from the Moody Foundation—a charitable foundation that will fund a new student center—and nonprofit organization the Robert A Welch Foundation, according to the release.
One of the key initiatives of the fundraiser will be putting $150 million toward scholarship endowments to help make the university more accessible to low-income students. Rice University expects to see its student population grow to 9,000 by the fall of 2025, according to the release.
“With this capital campaign, we intend to make those investments a reality for generations of students destined to become a part of Rice’s future,” Leebron said.
Despite the rise in student population, the university aims to keep its 6:1 student to faculty ratio, with an estimated $625 million going toward faculty endowments and academic program investments.
“Rice’s longstanding commitment to excellence and academic opportunity has laid the groundwork for a series of bold strategic investments,” Leebron said.
Rice University is located off of Main Street, near West University Place in Houston.