For the given blanks in the draft of the article, the best transitions to clarify the relationship between the underlined sentences are:
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A. In spite of - This transition fits well in the first blank as it highlights that despite the efforts made, the outcome was not as expected (not raising enough money).
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B. Consequently - This transition is appropriate for the second blank as it indicates that, as a result of not raising enough money, the students' disappointment followed.
Thus, the correct choices are A. In spite of and B. Consequently.