America’s colleges and universities have the equivalent of the richest 10%, just as the population does. At the top of that elite group are Harvard, Yale, the University of Texas System, Stanford, Princeton and MIT. Among them, their endowments in fiscal year that ended on June 30, 2013, reached $121 billion.

New research from the National Association of College and University Business Officers:

… across the U.S. The 835 institutions participating in this year’s Study represented $448.6 billion in endowment assets as of June 30, 2013.

So, six institutions have 27% of those total funds. Harvard’s alone was 7% of the total. As a group, the 835 institutions posted an average of 11.7%. Only one of the top six bested that number — the University of Texas System at 12%.

The divide between the richest colleges and universities is just as pronounced when the institutions with $5 billion endowments are measured. Only 19 reached that level last year. Only 83 had endowments over $1 billion.

The level at which the richest colleges and universities can fund education out of their endowments is extraordinary:

Endowments remain a significant source of support for higher education. Participating institutions reported that an average of 8.8 percent of their operating budget is funded by their endowment, ranging from a high of 16.2 percent for institutions with assets over $1 billion to a low of 2.5 percent for institutions with assets under $25 million. Many institutions use their endowment income to fund financial aid and other programs for students and faculty.

Elite colleges, at least in theory, can fund better educations because they can afford to. The poorest colleges have virtually none of that advantage.

There is not much difference between the wealthiest colleges, the wealthiest people and the wealthiest corporations when it comes to buying and affording what they want. The pyramid narrows quickly as it reaches a top.

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