For nearly a decade after opening, the College operated on a shoestring budget, using funds raised mainly through community initiatives and modest student fees. Student fees during the school's first academic year from 1942 to 43 were modest at about $10.00 per course for first-year students, equivalent to $153.71 in 2019 dollars. Fundraising efforts spearheaded by the College's President, Henry Marshall Tory, worked to raise $1 million for the institution from donors throughout the Ottawa area, with half of the proceeds going towards the debt incurred by the purchase of the new building, and the other to endow the College. Carleton's faculty then was composed largely of part-time professors who worked full-time in the public service, some of whom were eventually convinced to leave government for full-time tenure positions.