What Financial Resources Does the University Attract to the Area?
Boston University’s outstanding reputation as an educational and research institution attracts substantial financial resources to the local area. These include tuition income from out‐of-state and international students; federal and private funding for research and financial aid; financial gifts from out‐of‐state alumni; and spending by out‐of‐state visitors. Specific examples for FY‐2008 are outlined below.
- More than $612 million of tuition and fee income was brought into the Commonwealth by Boston University’s out‐of‐state students, who constitute nearly 66 percent of the University’s enrolled students. A portion of that money came from the University’s 4,789 international students.
- Boston University received nearly $237 million of federal funding through grants and contracts for research and training.
- Boston University received more than $18 million of federal student aid funds.
- Boston University received $243.8 million from foundations, private corporations, and other non‐federal sources for research, training, and student aid.
- Boston University alumni, friends, corporations, and foundations donated nearly $80 million to the University, and nearly $50 million of that amount was from sources outside of the Commonwealth.
- Nearly $42 million was spent locally by out‐of‐state visitors to Boston University students.
- Millions of additional dollars were spent locally by the tens of thousands of people who came to Boston to attend University events including Alumni Weekend, athletic events, cultural and social events, reunion programs, colloquia, and professional development programs.