Cornell Raises $4.76 Billion; Will ‘Save It For Rainy Day,’ Continue to Raise Tuition

DAY HALL — President David Skorton announced today that Cornell has surpassed its $4.76 billion fundraising goal set in 2006. He then announced plans to “put the money in our savings account in case of a rainy day.”

“At this point, it certainly would help maintain our peace of mind if we had $4.76 billion in our ‘Rainy Day’ savings account,” explained Skorton. “With the economy like it is, we just can’t be sure of a steady, semesterly income in the neighborhood of…let’s see here, twenty thousand times thirteen thousand undergrads…$26 million! It’s very important to have an extra $4.76 billion laying around in case we get a hospital bill or our cars break down.”

Students raised concerns that this money should be put to use by freezing tuition for the time being. “Student Loan Debt is a very serious issue that I feel must be addressed,” said Kristy Howerton ’15. “Trying to enter the job market with a $100,000 debt is needlessly stressful.”

Skorton replied to Howerton’s comments by pointing out that “huge debt is definitely a stressful thing to have over your head, but we want to continue putting glass atria over students’ heads, and this money will go directly to that.”

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