Endowment helps students afford college tuition. Harvard, Yale, and Stanford are among the universities and colleges that offer the most endowment for their students. Here’s what endowment means and how much every school has available for the designated year:
What is College Endowment?
College endowment is the amount of money a school receives in donations. This money can then in turn be used for scholarships, facility upgrades, maintenance, and more. Anyone who donates can dictate how they want the money to be spent. So if an individual donates money, they can say they’d like it to go towards the library, a new building, scholarships, or something else.
When this endowment is directed towards scholarships, it helps students afford college tuition and other education related expenses. It can make the difference between whether or not an individual can afford and attend a particular college.
Schools that have more endowment per student available mean they have more money to hand students in grants and scholarships, whether need or merit based.
What Colleges Have the Most Endowment per Student?
Almost all colleges and universities offer endowment, grants, and financial aid for their students but here is a list of colleges have the most endowment per student in 2022:
|School||Endowment Total||Endowment Per Student||Average Institutional Grant||% of Students Receiving Grant|
|Soka University of America||$1,231,957,000||$2,838,610||$32,748||100%|
|Massachusetts Institute of Technology||$18,381,518,000||$1,610,153||$50,785||60%|
|California Institute of Technology||$3,085,500,000||$1,372,553||$46,163||57%|
How Can You Apply for These College Grants?
Almost all college grants will require you to complete the Free Application for Federal Student Aid (FAFSA) in order to be eligible for the money. The FAFSA isn’t just for federal aid – your financial information is passed onto the college. If you have demonstrated financial need, the college or university may grant you assistance.
It is very important to complete your FAFSA as soon as possible. While these schools have more endowment per student than other colleges, they will eventually run out of money for that year. If you turn in your FAFSA too late, you could miss out on the offer.
How Will You Know if You’ve Been Offered an Institutional Grant?
If a college is offering you a grant or other form of financial assistance, they will usually include this information with your acceptance letter. However, understanding these financial aid award letters can be confusing. Schools will use different layouts for their letters. And offers may look great on paper, but when you actually compare tuition and college expenses, the lower offer from a different school might actually be the more financially sound choice.
That’s why College Raptor offers students the Financial Aid Offer Comparison tool. It cuts through the misleading terms and lays out clearly and simply just how good of a deal you’re getting from the college. Financial aid can be confusing but going in with a game plan and understanding of what you’re being offered is key.