Dive Summary:

• The University of Miami has raised more than $1 billion in its bid to reach $1.6 billion by 2016.
• The funds will be used for medical buildings and research, need-based scholarships and the hiring of faculty. 
• The largest gift, $100 million, came from the Diabetes Research Institute Foundation.

From the article:

"... Once the campaign is completed, the university expects to put at least $200 million of the funds raised toward need-based scholarships at the school, where tuition and fees, room and board and other expenses is almost $59,000. The school has already used donations to establish 17 endowed chairs and professorships and build or renovate 14 facilities, including a wellness center and research laboratories. ..."