Endowments often form the biggest source of financial aid for most colleges and universities in America. Colleges use part of this endowment money on various expenses, mostly on long term plans to improve the campus facilities. An almost equal part of their endowment money is reserved to fund financial aid programs and student scholarships.
These are the top 10 colleges with the largest endowments:
1. Harvard University — $37,096,474,000
All of the schools on this list are well-known names, but Harvard might just be the most famous. While the university has a steep sticker price—at nearly $75,000—Harvard’s endowment assures that students earn a generous financial aid package that makes attendance much more affordable.
Interested in Harvard? The competition is stiff. The acceptance rate sits at 5.2%. Nearly 40,000 applications are sent in every year, so make sure your app really stands out.
Founded in 1838 as Brown’s Schoolhouse, Duke has undergone several name changes since, including Union Institute, Normal College, and Trinity College, before landing on Duke University.
Located in Durham, North Carolina, Duke has a near 60/40% split between graduate and undergraduate students on the campus. Students can earn up to the doctor’s degree level at Duke in a number of prestigious programs.
How the Largest Endowments Help
You may have noticed that each college on this list is a private school. Though private schools tend to have higher sticker prices, the endowments help the colleges make attendance more affordable for their students.
The endowment per student or EPS is an indicator of a college’s financial strength. Knowing the EPS of a college will give you a pretty good idea of the amount of financial aid that the college is likely to grant students. Generally, colleges with the largest endowments per student offer their students a more generous financial aid package.
Curious about another school’s endowment? Check out College Raptor’s rankings data! Also, you can discover your personalized college matches, cost estimates, acceptance odds, and potential financial aid for schools around the US with College Raptor’s free match tool!