BLACKSBURG, Va. (AP) — Virginia Tech President Timothy Sands wants to double the school’s $800 million endowment and make the university one of the top 100 world research institutions.

The Roanoke Times reports (http://bit.ly/1y34LbW) Sands made the comments Friday at his official installation, four months after taking the job.

Sands also wants to make a Virginia Tech degree affordable for any Virginia student who can qualify for admission. The comments come as Virginia grapples with a $2.4 billion budget shortfall that has already led to $45 million in cuts to higher education.

Sands is the school’s first president since James McComas to have no previous ties to Virginia Tech. He has spent much of his time in office meeting with students, faculty, staff and state and local leaders to listen to their concerns.

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Information from: The Roanoke Times, http://www.roanoke.com

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