- Associated Press - Thursday, July 16, 2015

LEXINGTON, Va. (AP) - Washington and Lee University has concluded a seven-year fundraising campaign, far exceeding its $500 million goal.

The Lexington school says the campaign concluded Wednesday having raised more than $542 million. That’s 8 percent above the initial goal.

Sixty-one percent of the money is going to Washington and Lee’s endowment. As of May, it had a market value approaching $1.5 billion.

Other areas to benefit from the fundraising include scholarships and financial aid, faculty salaries and new campus buildings, among others.

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