A Qualified Success

Last week's impressive Capital Campaign announcement--which reported that Harvard had raised $2.325 billion over the past five years--is favorable news. But the job isn't over yet.

For the most part, there are reasons to uncork the champagne. Not only has the University exceeded its stated goal by $225 million three months before the capital campaign's scheduled conclusion, but each of Harvard's nine schools has met their individual target. The Faculty of Arts and Sciences (FAS), which lagged behind for many months, just recently blitzed its way over its goal.

More importantly, students will actually be seeing the money. Contrary to Harvard's normally Scrooge-like policy of hoarding for a rainy day, the University has spent and plans to continue spending on a number of important projects. Last year's increase in the endowment payout--signifying greater per-student spending--was preceded by a $9 million financial aid increase. New buildings have been constructed (Maxwell Dworkin), old buildings have or will been renovated (Widener Library, University Hall) and vestigial stumps will be made whole again (Memorial Hall tower).

Nevertheless, we urge the University not to take too much pause, especially when the job isn't completely finished. While the University has decided to go ahead with its $52 million renovation of Widener Library, only 88 percent of the funds have been raised.

Furthermore, at the start of the campaign, FAS made a commitment to raise enough money to endow 40 new professorships. So far, only about 25 have been endowed.

Raising money for professorships and libraries is often a difficult task. From a benefactor's point of view, these may not be the most glamorous of donations. Furthermore, donors may not always understand why increasing faculty size is so important.

Additional faculty hires would do much to reduce class sizes, reinvigorate our impoverished Core curriculum and facilitate greater faculty-student interaction. As academia becomes increasingly more expansive and specialized, additional faculty will allow Harvard to remain a top research and teaching institution.

Now that most of the other capital goals have been met, we urge the University to redouble its efforts to raise funds for professorships and libraries. The soul of this University lies not in its capital accumulation but in its pedagogic distinction.