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When choosing which college to attend, it is important for students to take a hard look at the diverse selection of public and private colleges across the country. Various factors can be considered, be it the university’s location, popularity, prominence, or the type of courses it offers. Financial considerations also play an important role in selecting a college. Attending a public or private university will incur costs, often higher than most students can afford at first hand.
In this regard, looking at how colleges perform from a financial standpoint and knowing which institutions receive the most funding can help identify which college may award the most financial aid or offer partial or full scholarships to those who qualify. Greater amounts of funds generally translate into better facilities, building maintenance, fellowships, staff and faculty, all intended as investments in higher quality education.
Funding for colleges comes in the form of endowments such as financial grants, donations, tuition fees, and government subsidies. Both public and private universities receive donations. The following is a list of the top ten private universities based on market value of endowment and assets as reported by the National Association of Business Officials of Universities and Colleges (2009):
1. Harvard University – Established in 1636 and located in Cambridge, Harvard has the largest recorded amount of endowments, set at $36.5 billion. Its schools of business, law, medicine, education, and engineering are among the most respected in academia. To date, Harvard’s student body has grown to 20,000 while more than 2,000 including its faculty.
2. Yale University: With endowments of $22.9 billion, Yale is located in New Haven, Connecticut, and is home to professional schools in public health, environmental studies, management, music, architecture, theater, management, law, and medicine. Its Graduate School of Arts and Sciences offers courses in arts, philosophy, engineering, and science.
3. Stanford University: Founded in 1891, Stanford’s student body in California has grown to more than 14,000 in 2008. Endowments of up to $17.2 billion go to its graduate school of business, schools of education, engineering, earth sciences, humanities, law and medicine. Continuing Studies is also an integral part of Stanford’s suite of academic programs, serving some 9,000 students to date.
4. Princeton University: Claiming university status in 1896, Princeton bills itself as a research university, with endowments set at $16.3 billion. Located in Princeton, New Jersey, the Princeton School of Engineering and Applied Science offers undergraduate and graduate study in the fields of chemical, mechanical and aerospace, civil and environmental engineering, and finance. Interdisciplinary programs also offer degrees in many fields, including anthropology, comparative literature, philosophy, languages, and finance.
5. Massachusetts Institute of Technology: Perhaps the most prominent technical college in the US, MIT in Cambridge is associated with earning degrees in science and engineering, though the list of programs also includes pursuits in anthropology, literature, media arts, history, linguistics. , as well as music and performing arts. MIT buildings have reached USD 10 billion.
6. Northwestern University: With its main campus in Evanston, Illinois, Northwestern was founded in 1851 and has recorded endowments worth $7.2 billion. To date, the academic programs offered by this institution are led by studies in communication, arts and sciences, music, and engineering. This university is also comprised of a School of Law, the Feinberg School of Medicine, and the Kellogg School of Management.
7. Columbia University: With estimated endowments of $7.1 billion, Columbia in New York City offers programs in liberal arts, public health, engineering, and applied sciences. Postgraduate studies in business, arts and sciences, journalism, as well as a college of law, public affairs, and nursing are also offered.
8. University of Chicago: Founded in 1890 and located in Hyde Park in Chicago, the endowment of this university is estimated at US$6.6 billion. Available academic programs include studies in biological sciences, humanities, public policy, social services, and management, among others. The University of Chicago is also home to the Booth School of Business and the Pritzker School of Medicine.
9. University of Pennsylvania: Comprising some 10,000 undergraduate students and with endowments totaling $6.2 billion, the University of Pennsylvania in Philadelphia offers degrees in arts and sciences, engineering, medicine, nursing, and is home to the Wharton School of Business. Penn also offers interdisciplinary programs spanning medicine and engineering, management and international studies, as well as technology management.
10. University of Notre Dame: With endowments also estimated at $6.2 billion, this Catholic university was founded in 1842 and is located in Notre Dame, Indiana. Within the institution there are four faculties that offer degrees in arts and letters, business through the Mendoza School of Business, science and engineering. Notre Dame also has a law school, an architecture school, and a graduate school that offers courses in the humanities, engineering, and social sciences.
While the value of private college funding can often be seen as exorbitant, top of the list are often the same colleges that can waive tuition fees for admitted students whose family income falls below a certain level. Such opportunities serve to be valuable to students who have worked well enough to earn their degrees at whatever university they choose. Keep in mind, however, that the private colleges that are most well-funded are not necessarily on the list of the best or best-value private colleges in the U.S. When selecting which private college is best suited, students they must also take into account other factors related to the value of the courses, existing facilities, curricular and extracurricular resources, and the like. It is also important to know the values of a university’s total endowment rate compared to a university’s endowment rate per student, derived from dividing the total endowments by the number of students enrolled. A university with a large endowment but too many students may not always be able to provide the required financial support.
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