Free College Money

by Claudine Vainrub, Principal of EduPlan / Wednesday, 20 May 2009 / Published in College Admissions, Immigration, MBA Admissions

Are you looking for scholarship money for college and grad school education? Then learning about school endowments can make a difference for you! University and College Endowments allow schools to provide merit and need-based scholarships for admitted students. Here is some information on College Endowments, what they are and the amounts available…

University Endowments

Endowments are money and financial assets donated to a university of college. At the time of donation, it is usually stipulated that these assets be invested and the principal kept intact. The idea is that the asset generates long-term income for further investment and activities of the university or college. Endowment donors usually set certain terms and conditions on how the income from the asset is allocated.

There are also guidelines that tell how much of the income from the endowment funds can be spent each year. This is usually 5% of the total asset value for most universities. This can sound like a small amount, but consider that some of the wealthiest universities like Harvard have endowment assets worth billions. Thus these universities have a large amount at their disposal every year to be spent in student grants, scholarships and endowed professorships.
Apart from certain restrictions the donor may place, the bigger universities and colleges still have large amounts of money, which they can spend as per their discretion to provide more grants and scholarships, hire experts or add to their facilities. These additional funds can aid in cost savings which the university/college can then pass onto the students.

Endowment scholarships may be need-based or merit-based. They assist to meet tuition fees and sometimes other expenses like boarding too. Need-based scholarships, or grants as they are otherwise known, are offered to only those students whose families cannot afford higher education for their ward. Universities and colleges try to attract meritorious students by offering them the best possible scholarship amounts within their reach.

Fellowships are a sub-category of endowment scholarships, usually offered to graduate students. Apart from tuition costs, fellowships have an additional amount meant as stipend. As finances are a major decisive factor in higher studies, universities that offer larger amounts as fellowships see some of the brighter minds and working professionals join them.

However the size of the endowment fund is not always an accurate means of looking at the resources of a university/college. The annual income from endowments has to be seen in proportion to the number of students at the university or college. For instance, Harvard has topped the list of universities with large endowments for years. As of June 2006, the market value of Harvard’s endowments stood at $28,915,706. For the same year, Harvard’s endowment per student was $ 1,456,940, whereas four other top US universities had a larger per student endowment amount (Princeton University-$ 1,900,000, Bryn Athyn College-$ 1,770,994, Yale University-$ 1,751,927, Rice University-$ 1,557,600). On the other hand, the larger universities can take advantage of economies of scale and turn over the benefits from their larger investments to students.

In addition to private endowment funds, institutions also receive government aid and research funding. These amounts can make a significant difference in the amount of money churned every year by a university or college.
Here is an indicative list of the 100 schools with the largest endowment funds. Figures are given in multiples of $1,000 for the years of 2005, 2006, 2007 and 2008.

No	University/College	Year 2005	Year 2006	Year 2007	Year 2008
1	Harvard University (MA)	25,473,721	28,915,706	36,556,284	34,634,906
2	Yale University (CT)	15,224,900	18,030,600	22,869,700	22,530,200
3	Stanford University (CA)	12,205,000	14,084,676	17,200,000	17,164,836
4	Princeton University (NJ)	11,206,500	13,044,900	16,349,329	15,787,200
5	University of Texas System	11,610,997	13,234,848	16,111,184	15,613,672

6	Massachusetts Institute of Technology	6,712,436	8,368,066	10,068,800	9,980,410
7	University of Michigan	4,931,338	5,652,262	7,571,904	7,089,830
8	Northwestern University (IL)	4,215,275	5,140,668	7,243,948	6,503,292
9	Columbia University (NY)	5,190,564	5,937,814	7,146,806	7,149,803
10	Texas A&M University System³	4,963,879	5,642,978	6,659,352	6,590,300

11	University of Pennsylvania	4,369,782	5,313,268	6,233,281	6,635,187
12	University of California	5,221,916	5,733,621	6,217,340	6,439,436
13	Emory University (GA)	4,376,272	4,870,019	5,472,528	5,561,743
14	University of Chicago (IL)	4,137,494	4,867,003	6,632,311	6,204,189
15	Washington University (MO)	4,268,415	4,684,737	5,350,470	5,567,843

16	Duke University (NC)	3,826,153	4,497,718	6,123,743	5,910,280
17	University of Notre Dame (IN)	3,650,224	4,436,624	6,233,281	6,635,187
18	Cornell University (NY)	3,777,092	4,321,199	5,385,482	5,247,097
19	Rice University (TX)	3,611,127	3,986,664	4,610,164	4,669,544
20	University of Virginia	3,219,098	3,618,172	4,572,613	4,370,209

21	Dartmouth College (NH)	2,714,300	3,092,100	3,660,159	3,760,234
22	University of Southern California	2,746,051	3,065,935	3,589,225	3,715,272
23	Vanderbilt University (TN)	2,628,437	2,946,392	3,524,338	3,519,753
24	Johns Hopkins University (MD)	2,176,909	2,350,749	2,524,575	2,800,377
25	University of Minnesota³	1,968,930	2,224,308	2,750,770	2,804,466

26	Brown University (RI)	1,843,904	2,166,633	2,746,832	2,633,924
27	Ohio State University³	1,726,007	1,996,839	2,075,853	2,338,103
28	University of Pittsburgh (PA)	1,529,884	1,802,859	2,333,602	2,254,379
29	University of Washington	1,489,924	1,794,370	2,262,149	2,184,374
30	New York University	1,548,000	1,774,700	2,475,200	2,161,800

31	Rockefeller University (NY)	1,556,945	1,771,954	2,020,647	2,144,271
32	Case Western Reserve University (OH)	1,516,481	1,598,566	1,766,478	1,841,234
33	California Institute of Technology	1,417,931	1,580,922	1,891,523	1,860,052
34	Purdue University (IN)	1,340,536	1,493,554	1,735,660	1,786,592
35	University of Rochester (NY)	1,369,969	1,491,275	1,730,772	1,726,318

36	Grinnell College (IA)	1,390,545	1,471,804	1,472,448	1,718,313
37	Williams College (MA)	1,348,374	1,462,131	1,808,280	1,892,055
38	Pomona College (CA)	1,298,629	1,457,213	1,794,453	1,760,902
39	Boston College (MA)	1,270,303	1,447,887	1,630,626	1,670,092
40	University of Wisconsin³	1,124,855	1,425,750	1,735,456	1,645,250

41	Wellesley College (MA)	1,275,529	1,412,410	1,611,319	1,656,565
42	University of Richmond (VA)	1,207,573	1,387,834	1,704,350	1,654,988
43	Amherst College (MA)	1,154,570	1,337,158	1,705,917	1,662,377
44	Pennsylvania State University	1,174,828	1,326,390	1,545,314	1,590,000
45	Indiana University³	1,107,498	1,276,160	1,546,469	1,556,853

46	Yeshiva University (NY)	1,148,687	1,273,327	1,344,701	1,409,576
47	University of Illinois³	1,147,517	1,252,290	1,459,967	1,515,387
48	Swarthmore College (PA)	1,164,069	1,245,281	1,412,609	1,441,232
49	University of Delaware	1,077,102	1,223,203	1,340,145	1,397,492
50	Tufts University (MA)	845,389	1,215,413	1,445,662	1,452,058

51	Smith College (MA)	1,035,542	1,156,350	1,365,792	1,360,966
52	University of Nebraska³	1,042,290	1,153,559	1,221,331	1,277,169
53	University of NC, Chapel Hill³	973,920	1,149,222	544,551	535,003
54	Southern Methodist University (TX)	1,013,703	1,122,477	1,367,744	1,327,816
55	University of Cincinnati (OH)	1,032,124	1,101,100	1,099,127	1,185,400

56	Baylor College of Medicine (TX)	1,008,261	1,059,393	1,091,814	1,278,011
57	Kansas University Endowment Association	954,943	1,049,367	1,217,919	1,238,695
58	Michigan State University	906,342	1,047,792	1,282,073	1,247,713
59	Georgia Institute of Technology³	937,410	1,047,724	1,343,503	1,281,162
60	Wake Forest University (NC)	906,803	1,042,558	1,253,673	1,248,695

61	Texas Christian University	941,798	1,016,353	1,260,145	1,187,057
62	University of Florida³	835,698	996,245	1,250,603	1,219,026
63	George Washington University (DC)	823,129	963,697	1,256,433	1,147,451
64	University of Oklahoma³	777,514	960,315	1,154,794	1,114,426
65	Berea College (KY)	861,679	948,738	1,023,255	1,102,272

66	Princeton Theological Seminary (NJ)	863,653	945,355	1,017,643	1,108,515
67	University of Missouri System	832,363	944,054	1,024,892	1,097,846
68	Carnegie Mellon University (PA)	837,459	939,581	1,067,728	1,115,740
69	Lehigh University (PA)	844,672	939,473	1,126,942	1,085,639
70	Boston University (MA)	776,900	916,017	1,144,996	1,101,386

71	Syracuse University (NY)	818,258	908,371	984,779	1,086,143
72	Baylor University (TX)	746,137	870,364	1,059,646	1,018,012
73	Tulane University (LA)	780,200	858,323	1,035,711	1,009,129
74	University of Alabama System	764,882	848,848	997,956	999,816
75	Georgetown University (DC)	741,063	834,497	1,059,075	1,059,343

76	University of Iowa³	786,100	832,869	935,453	982,428
77	Saint Louis University (MO)	750,736	824,851	879,908	959,486
78	University of Tulsa (OK)	769,551	816,980	836,790	915,320
79	Trinity University (TX)	733,261	814,672	1,034,659	991,112
80	University of Tennessee System	714,968	811,138	887,411	954,376

81	University of California, Los Angeles³	668,338	804,869	1,054,119	975,295
82	University of Kentucky	576,721	785,196	908,654	957,608
83	Middlebury College (VT)	721,839	782,115	885,389	936,354
84	University of Arkansas³	691,524	763,069	856,049	876,839
85	Vassar College (NY)	672,010	741,655	848,717	869,122

86	Oberlin College (OH)	637,404	694,565	760,735	816,135
87	Rensselaer Polytechnic Institute (NY)	624,279	682,894	793,323	812,996
88	University of Louisville (KY)³	607,636	680,251	793,930	796,812
89	University of Maryland System³	595,000	674,600	854,456	810,374
90	Bowdoin College (ME)	578,206	673,346	831,469	827,714

91	The Julliard School (NY)	578,289	663,886	x	x
92	Lafayette College (PA)	587,418	648,292	682,673	734,421
93	University of Miami (FL)	523,706	620,435	736,239	741,382
94	Wesleyan University (CT)	564,879	619,761	652,208	710,800
95	Santa Clara University (CA)	509,149	598,657	676,072	697,881

96	Northeastern University (MA)	543,174	595,859	657,866	679,926
97	Louisiana State University System	504,841	593,203	633,616	656,710
98	University of Colorado³	512,371	590,306	870,081	774,147
99	Hamilton College (NY)	529,708	587,582	670,321	703,481
100	Washington and Lee University (VA)	531,992	586,968	718,907	692,797

Tagged under: College Admissions, EduPlan college admissions, EduPlan Educational consulting, EduPlan grad school admissions, EduPlan mba admissions, EduPlan Recommends Reading About..., Scholarships

Free College Money

One Response to “Free College Money”