<p>The university's new fundraising initiative will create benefits across the College - for faculty, graduate students, and undergraduates alike.</p>
<p>$250 million in private commitments over the next five years - beyond the already-established goals of Campaign - the most important elements of the new initiative are efforts to fund new endowed faculty chairs, and raise $100 million for fellowships and scholarships.</p>
<p>Endowed chairs are a powerful means of attracting renowned faculty members to UCLA and keeping them on campus.
"The funds from the endowed chair have certainly inspired us to be more optimistic and aggressive about developing new field projects abroad that require outside funding," Morris said. </p>
<p>In addition, funds from the endowed chair help the program attract and support graduate students. </p>
<p>"We're competing with very wealthy, endowed universities for the best students. Stanford and Princeton routinely give their graduate students five years of full support," said Morris. And the funds from the Steinmetz Chair extend the impact of outside support.</p>
<p>"Many people may not know that federal funding agencies such as the National Endowment for the Humanities award only matching funds," Morris said. "Unless we can come up with half the money, we can't get federal funds. So having endowed funds locally that we can count on makes a huge difference. The Steinmetz endowment actually stimulates and brings in additional outside funding for UCLA."</p>
<p>"I'm delighted that this initiative is a top priority for the chancellor," she said. "The University of California has always had the reputation for being a major research university that attracts the best researchers as well as the best teachers and that draws graduate students from all over the world." </p>
<p>Joseph Wang, a Ph.D. candidate in economics, clearly understands the importance of student support. Wang is a foreign student from Taiwan who received the Robert Ettinger Prize for Graduate Student Research for a paper he wrote that attempts to explain the practice of last-minute bidding on eBay, the world's largest online auction company. The prize, established by economics alumnus Robert Ettinger, is awarded annually for the best papers completed by two UCLA third-year economics graduate students.</p>
<p>"I came to UCLA because I considered it a highly prestigious and competitive university at an affordable price," Toychyan said. "The Rudnick-Abelmann Scholarship has not only helped me financially, but it has also given me the confidence to continue my journey in this difficult field." </p>
<p>The chancellor's new initiative will enable UCLA to focus greater resources on its academic core of outstanding faculty like Sarah Morris, and promising students like Joseph Wang and Christina Topchyan. Endowed chairs, fellowships, and scholarships created through the support of visionary individuals and organizations can strengthen teaching and research, and provide a competitive edge that will ensure the academic excellence of the UCLA College.</p>