To put it in some perspective. As a grad student, a full time research assistantship got me tuition waver and a stipend. The tuition waver was worth around $16K for residents almost $30K for non-residents. Then the stipend was a little over $20K a year. No, I'm not saying that it's a complete 1:1 in terms of dollar given to dollar spent on me, but a year's research assistantship from a grad student was effectively worth $36K-$50K. That doesn't include the cost for equipment, the professor, post-docs, support staff (I know my advisor was charged $XK a year for secretary and other support staff), and so forth.
The university also posts the awards and funding that is awarded to professors. Just looking at the list of recent awards, there is a $440K award to one professor by a private company for research on wireless networks. That's already more than what was put into this study per year.
EDIT: Next on down the list are grants of $500K and $150K.