Special Report

America’s 25 Richest Universities

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10. Regents of the University of California
> 2020 endowment: $12.1 billion
> Change from 2019: +2.9%
> Location: Oakland, California
> Fall 2019 undergraduate enrollment: 43,185
> Typical earnings 10 years after entry: $64,700

The University of California system consists of 10 campuses and five medical systems. It is one of just 10 schools with an endowment exceeding $12 billion. The vast majority of schools on this list are small, private institutions, but not University of California, which had a fall 2019 enrollment of over 43,000. The university’s endowment is equivalent to just under $56,000 per student, the lowest figure on this list. At the majority of schools on this list, the endowment is worth over half a million dollars per student.

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9. University of Michigan
> 2020 endowment: $12.5 billion
> Change from 2019: +0.2%
> Location: Ann Arbor, Michigan
> Fall 2019 undergraduate enrollment: 48,090
> Typical earnings 10 years after entry: $63,400

University of Michigan is one of the wealthiest schools in America, with over $12.5 billion in its endowment. This figure increased just slightly, 0.2%, in fiscal 2020, well behind the growth rate of most other college endowments.

The university is one of just six public institutions on this list, and three of those are large university systems with multiple campuses. University of Michigan is just one campus, located in the state capital of Ann Arbor. Generally, public schools are much easier to get into than private ones, yet U-M is one of the most selective schools in America, accepting less than a quarter of students who apply.

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8. The Texas A&M University System & Related Foundations
> 2020 endowment: $13.6 billion
> Change from 2019: +0.6%
> Location: College Station, Texas
> Fall 2019 undergraduate enrollment: 68,726
> Typical earnings 10 years after entry: $58,000

The Texas A&M University System consists of 11 different campuses across the state of Texas, with the flagship location in College Station. The system has a $13.6 billion endowment, one of the 10 largest in the U.S.

The Texas A&M University System admitted 57.8% of applicants for the 2019-2020 school year — a lower acceptance rate than the vast majority of colleges that responded to the NACUBO endowment survey, but by far the highest acceptance rate of any school on this list.

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7. Trustees of the University of Pennsylvania
> 2020 endowment: $14.9 billion
> Change from 2019: +1.6%
> Location: Philadelphia, Pennsylvania
> Fall 2019 undergraduate enrollment: 26,675
> Typical earnings 10 years after entry: $85,900

University of Pennsylvania’s alumni base tends to be financially well off, which likely helps the school maintain high levels of donations to boost its endowment. A decade after entering the university, most people in the workforce earn over $85,000 annually, one of the highest median earnings of any college in America.

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6. Massachusetts Institute of Technology
> 2020 endowment: $18.5 billion
> Change from 2019: +5.3%
> Location: Cambridge, Massachusetts
> Fall 2019 undergraduate enrollment: 11,520
> Typical earnings 10 years after entry: $104,700

Massachusetts Institute of Technology is one of 17 U.S. universities with endowments so large that they are worth over $1 million per full time student. In MIT’s case, the $18.5 billion endowment for the 11,520-person student body translates to $1.6 million per student. Even among universities on this list, whose alumni tend to earn very high wages , MIT stands out. It is one of just a dozen colleges nationwide — and the only one on this list — in which most former students earn over $100,000 within 10 years of entering the school.