UT President William Powers Jr. released a statement Monday discussing the Campaign for Texas, a fundraising effort that has raised more than $1.7 billion for the University.

UT uses the donations to attract top faculty, create new opportunities for students, enhance research, develop academic programs and improve campus facilities.

“Progress is going to be based on innovation that comes out of universities today,” Powers said. “We will not compete in the world unless we are at the very forefront of creating and applying that knowledge.”

The University released a short video discussing the importance of donations for students in need of financial aid to continue their education.

“Giving to UT is a game-changer,” said retired executive Will O’Hara in the video. “You have students that come from high schools where they excel, but their families can’t even imagine paying for higher education. But they can come here, because we have people that make financial resources available to them.”

The goal is to raise $3 billion to help establish UT as the best public research university in the nation, and Powers said the money will transform the institution in terms of competitiveness, impact and quality.

Printed on Tuesday, October 18, 2011 as: Powers plugs donation drive that would promote progress