The Alumni Association is 40 percent of the way to its goal of raising $100,000 for students’ unpaid internships.

The group should reach its goal by 2018, Alumni Association President Jeremy Gosbee said at a Board of Trustees meeting Friday. Fundraising for the project is “well on track,” he said.

Gosbee announced the program at a Board of Trustees meeting last year. The fund marks the first time the Alumni Association has put the majority of donations to one cause.

Gosbee said at Friday’s meeting that the fund is designed to supplement the Knowledge in Career Internship Fund, which also supports students who participate in unpaid internships.

The fund provides $5,000 grants to three or four students each year, and Gosbee said he hopes the stipend program can grow in future.

This project is one of multiple Alumni Association efforts to encourage alumni to engage with current students and give them professional advice.