(Corryville) -- It's the largest fundraising campaign in the history of not only the school, but of the city; a billion dollars, raised in less than 8 years.  The University of Cincinnati's fundraising campaign started in 2005, and is scheduled to end June 30th, 2012.

UC's President says this puts them in a very elite club.  Only 24 other universities have raised a billion dollars.  Dr. Santa Ono says $171 million will go to research, while another $101 million is earmarked for scholarships and financial aid.  He says the money will allow students who might not otherwise be able to, attend UC, through scholarships and financial aid.  And he says it will fund life-saving research.

$702 million has already been spent on scholarships, endowed chairs, and new buildings and renovations.

Co-chair Otto Budig says he never doubted they'd reach the billion dollar goal.  He says it's the strength of affection of UC graduates.  Alumni gifts made up 59% of what's been raised so far.  Dr. Ono says more than 50,000 people gave to UC for the first time.