The study examined the survival strategies employed by state university libraries in Zimbabwe in the face of limited funding in 2014-2018. Financial and other challenges have had adverse effects on the provision of effective library services in most academic libraries world over. This study explored the funding models used by state university libraries in Zimbabwe and established fund raising strategies employed by such libraries. The research was qualitative in nature and used a multiple case-study methodology focusing on eight university libraries which were purposively selected. The data was collected using face to face and telephone interviews, and document analysis. The data was analysed using the Taguette Software and graphs and tables were used to present the findings. The study findings acknowledged state university libraries efforts and initiatives in resource mobilization though limited. Most of these libraries expected much more funding from the mother institutions through annual budget allocations and grants, and very minimal fundraising activities were done. The study recommends that state university libraries work together with other libraries and push for the revision and revamp of the National Library and Documentation Services Act of 1985. The revision of this Act and its revamp to suit the current 21st century information needs could aid in the financing and development of academic libraries and other libraries in Zimbabwe at large. State university libraries should also put more effort into seeking unrestricted fundraising activities. The authors proposed a Three Layer Library Survival Strategies (TLLSS) Model for adoption by libraries facing funding challenges.