The University has announced that it will undertake a massive fundraising campaign for AccessUVA so that it can remain an affordable higher education institution.\nIn an e-mail sent yesterday to University alumni and friends, President John T. Casteen, III asked for financial donations and support for the program.\n"Overall, 32.1 percent of the student body now qualifies for financial aid ... up from 27.2 percent just last year" Casteen stated. "The need for us to provide adequate financial aid will continue to rise as unemployment rises and as more parents face salary cuts ... and other forms of diminished income."\nTom Jennings, assistant vice president for development, said the fundraising campaign is still in its planning stages. The first step of the campaign is to continue e-mailing alumni, parents and friends, asking for donations.\n"In my experience, alumni like to give to things that benefit both people and the University directly," Jennings said.\nUniversity spokesperson Carol Wood said in addition to the e-mail Casteen sent, the University has filmed two 30-second video clips to be aired during football games to garner additional financial support.\nThe University will transfer individual donations ranging from $10,000 to $25,000 made via credit card directly to the financial services office to be spent on financial aid, Casteen said. Additionally, the University plans to ask certain individuals to make significant endowment gifts, Jennings said. Large donations exceeding $100,000 will be put into an endowment fund and portions of the earnings will be used for financial aid, he said.\nThe University started this campaign not only in response to the economic downturn but also in response to the University's dwindling endowment.\n"U.Va made a commitment to providing AccessUVA," Jennings said. "In order to fulfill our obligations, we have to sustain this program."\nDespite the recession, "there are many donors out there who have not been materially affected in terms of their income," Jennings said, noting that University officials will seek to target these potential sources of funding.\nThough more significant gifts obviously are the most sought after, Wood said the University will accept any and all gifts that friends and alumni are willing and able to offer.\n"Our hope is that people who love this University will understand the importance of making college available to all students, no matter what their economic resources," Wood said. "Every gift, no matter what the size, will help build a fund that will make a University of Virginia education possible for students who might never have aspired to U.Va because they did not believe it was affordable"
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