Purdue research awards, philanthropic fundraising, undergrad and graduate applications and selectivity, graduation rate, online enrollment, patents received and media visibility all set records in fiscal year 2024

WEST LAFAYETTE, Ind. — The state of Purdue University’s metrics in the past 12 months broke records in almost all dimensions.

In fiscal year 2024, Purdue research awards and philanthropic fundraising once again reached new milestones, shattering records set just last year, according to a summary report presented to university trustees Friday (Aug. 2) by Purdue President Mung Chiang.

Purdue received $647 million in research awards from federal and industry sources during the fiscal year that ran from July 1, 2023, through June 30, 2024. That represents a 6% jump from the year-ago period and is more than double the university’s funded research in FY 2013. At the same time, private contributions to Purdue rose nearly 4% to $632 million, another all-time high.

Both new records mark the second consecutive year these two major components of the university’s financial and research enterprise surpassed $600 million annually.

“The impressive performance this past year is a testament to the persistent pursuit of excellence at scale by our faculty, staff, students and alumni, touching every aspect of this dynamic university full of momentum,” Chiang said.

Highlights of Purdue’s fiscal year 2024 financial activity:

• The record $632 million in philanthropic giving was propelled by a nearly 2% jump in the number of donors, rising to 85,421.
• Funding for sponsored research surged to $647 million from $613 million in the previous fiscal year. Purdue’s total research awards have steadily climbed each year since 2013 and are considered a high benchmark for a university without either a medical school or a major Department of Defense establishment. The year’s funding will support approximately 3,500 research projects.
• The university’s endowment climbed to $4.1 billion, reflecting an 11.6% return and an inflow during the year of $82 million.
• A barometer of the university’s thriving entrepreneurship culture, intellectual property disclosures surged nearly 17% to 466 from 400 in fiscal 2023, the Office of Technology Commercialization reported. During the same period, 290 patents were issued, up 11%, while the number of patents licenses skyrocketed 49% to 224. This ecosystem helped establish 16 startup companies based on Purdue research.
• The number of research publication citations by Purdue faculty rose nearly 13% to 435,087, and the number of books published by faculty jumped nearly 40% to 60.

During the year, Purdue also signed nine new master research agreements with industry, including one as part of the landmark announcement this spring by South Korea-based SK hynix to invest close to $4 billion to build an advanced packaging fabrication and R&D facility for artificial intelligence semiconductor products in the Purdue Research Park. The development of a critical link in the U.S. chips supply chain marks a giant leap forward in the industry and the state. 

Additionally, Purdue was chosen this past year to play a primary role in three national hubs — Heartland BioWorks, Midwest Alliance for Clean Hydrogen and Silicon Crossroads Microelectronics Commons — focused on ensuring the U.S. remains globally competitive in areas critical to national security. Purdue also was selected to lead seven national research centers, including the renewal of three existing centers.

Welcoming most selective incoming class

Chiang also reported that Purdue is projected to welcome its most selective class of undergraduate students for the upcoming 2024-25 academic year as part of the university’s 10th straight year of record applicants.

This fall’s projected class of undergraduate Boilermakers in West Lafayette was selected at a 49.8% admission rate from a record-setting pool of 78,522 applicants, with a post-summer-melt yield rate at a record of 30%, significantly higher than all historical data.

The number of graduate student applications also reached another record level. PhD candidate applications hit 11,677, a 23% surge year over year, with a 20% projected admittance rate. Master’s student applications climbed 12% to 14,403, with 28.5% projected admissions.

Another positive trend for the pocketbooks of students and families: The number of Boilermakers graduating without any debt climbed 3 percentage points to 64% during this period, Chiang said.

With affordability and accessibility at the forefront of its mission and buoyed by nearly a decade of record enrollment totals, Purdue has kept tuition at $9,992 per year for Indiana residents and $28,794 for out-of-state students for 13 consecutive years since 2012-13.

Purdue’s ongoing commitment to expanding its online offerings from West Lafayette also is drawing increased interest and activity:

• Enrollment in Purdue’s online master’s degree programs increased 23% to 5,245 students during fiscal 2024. That included 4,450 students enrolled through Purdue’s West Lafayette campus.
• The number of students taking online certificate classes surged 56% to 15,955, including 12,257 in fee-based certificate programs.
• Enrollment among residential students at the West Lafayette campus taking online courses jumped 14% to 12,934.

Additionally, Chiang reported that the number of Purdue students graduating in four years improved slightly to 67%. The six-year graduation rate remained at 84%, vs. 74% in 2008.

Rising national, global profiles

The land-grant university’s enhanced national and global profile also continues to play a major role in driving applications to record levels while accelerating research and industry engagement activities:

• QS World University rankings listed Purdue at No. 8 among the nation’s public universities and No. 24 overall in the U.S. for its 2025 survey. Purdue also ranked No. 89 among 1,500 global universities, rising 10 spots from 2024.
• The 2024 Times Higher Education World University Rankings ranked Purdue the No. 33 university in the U.S. and No. 86 worldwide. Purdue ranked No. 14 among U.S. public universities and was No. 9 among public land-grant institutions.
• Purdue has enjoyed six consecutive years as a top 10 Most Innovative university as designated by U.S. News & World Report, and 13 of its undergraduate programs were ranked in the top 10 in the U.S. in its 2024 survey. Overall, Purdue also ranked No. 43 among 435 U.S. universities, up eight spots from 2023 and rising to the highest position in school history.
• Purdue placed No. 1 among U.S. public universities and was named the No. 9 most recognized university in the world in the 2024-25 Global University Visibility (GUV) rankings, which was released July 16.
• Purdue was ranked No. 16 on Fast Company’s list of the 50 Most Innovative Companies in 2023. And in 2022 and 2023 Purdue was the only university on Fast Company’s Brand That Matters list, designations that recognize organizations for communicating their brand’s mission and ideals with intention and authenticity.
• Purdue ranked as the Best Value university in Indiana, No. 2 in the Big Ten, sixth among U.S. public universities, and No. 15 among all institutions nationwide in a list released in 2023 by financial services advisor SmartAsset in 2023.