A campaign for a new scholarship scheme at Aberystwyth University has pulled in £200,000 from former students - £20,000 more than anticipated.
The university raised £75,000 from former students in November 2003
During a four-week period 2,000 ex-old boys and girls, who once studied in the mid Wales town, were telephoned for help.
The university said 45% donated money, an average of £270 each.
All the proceeds will go towards establishing a new bursary scheme for students.
A university spokesman said the money would be used to help students with the cost of their studies.
A team of 38 current students manned the phones during the campaign which ended last week.
Professor Noel Lloyd, vice-chancellor and principal at the University of Wales Aberystwyth, said: "It demonstrates one of the great strengths of the university at Aberystwyth, which is the commitment of students, former students and staff to its continued success and development."
It exceeds the £75,000 from the university's first phone fund-raising campaign in 2003.