University of Oxford - Coffers swell

A university's international fundraising campaign has passed the £1 billion mark. The campaign was started by the University of Oxford in 2008, when a target of at least £1.25 billion was set. The campaign had a head start, launching on the back of a fundraising drive that had already brought in £575 million, but Oxford said it is still impressed by the speed at which the £1 billion mark has been reached. Andrew Hamilton, the university's vice-chancellor, said that philanthropy is "fundamental to Oxford's future" in the face of government funding cuts, adding that donors have a "particular role to play in the preservation of the tutorial system".