This year’s race for the American presidency is shaping up like many have before—two candidates have emerged as the clear frontrunners from their respective parties and are ready to battle it out until November to win undecided voters in key swing states.

The difference? The price of running for president appears to have skyrocketed.

Both the Obama and Romney campaigns recently released the campaign’s fundraising numbers for the month of July. The Romney campaign reported fundraising earnings of $101.3 million for the month of July, while President Obama announced on Twitter that his campaign raised roughly $75 million in July.

Up to June 2012, the Romney campaign and affiliated organizations had raised roughly $440 million, according to the New York Times, while the Obama campaign and affiliated organizations had raised roughly $490 million.

“If people want to give the money, that’s their choice,” said junior Alex Chen, who believes the new focus on fundraising is justified.

A major factor in the recent increase in fundraising capacity in politics is the advent of organizations, dubbed super political action committees, or “super PACs”. The Supreme Court decision in the case Citizens United v. Federal Election Commission allowed the formation of PACs which could accept unlimited independent donations from corporations, unions, and individuals so long as these contributions were not made directly to a candidate.

The main Romney-affiliated super PAC, Restore Our Future, had raised $81.3 million up to June 2012, according to the New York Times. The main Obama-affiliated super PAC, Priorities USA, had raised $20.7 million in that time.

Both candidates have spent much of their time on the campaign trail at fundraising events, reflecting the newfound emphasis on funding in presidential politics.

President Obama in July attended 21 fundraising events, compared to 17 campaign-related events and speeches. Mitt Romney attended at least 22 fundraising events in the month as well, roughly twice the number of campaign-related events he attended.

“That’s a lot [of fundraising events],” said an anonymous junior.  However, she doesn’t think the presidential candidates spend too much time fundraising.  “It’s what they feel is necessary,” she commented.

In contrast, sophomore Sunash Sharma said, “I feel at this point, the amount of money raised becomes irrelevant, and the political ability takes precedence.”

However, as the race heads into the home stretch, don’t expect the two presidential campaigns to slow down their fundraising efforts.