Cambridge University raises more than £1bn to mark anniversary

image captionThe university's £1.1bn will be invested in students, academic staff, research, libraries and buildings

A 10-year fund-raising campaign has netted the University of Cambridge more than £1bn.

The total includes funds raised by both the university and its colleges during its 800th Anniversary Campaign.

The university said the money would be invested in its students, academic staff, research, and its libraries, museums and buildings.

Peter Agar, director of development and alumni relations, said the total was "an investment in Cambridge".

He added: "A lot of people think we've now got an extremely large safe with £1.1bn in it, but a lot of the money is for very specific things.

"Most comes in to support students, bigger bursaries and more generous scholarships."

He said it cost the university £17,500 each year to educate an undergraduate student.

"If you take off what we get from fees or the government, it actually costs us about £9,000 a year and we have to find that from somewhere.

"We've also created something like 35 new professorships during the campaign, and new buildings are going up around the city," Mr Agar said.

In 2009 the university celebrated 800 years since its founding in 1209. The anniversary fund-raising campaign was started in 2001.

The university's vice-chancellor, Professor Sir Leszek Borysiewicz, said although it had now closed, the university would continue its fund-raising drive.

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