Endowments, S.J.

There are 79 private colleges with endowments of more than $250 million that charge low-income students  We found 17—about eight percent of four-year Catholic colleges in the U.S.—that had endowments larger than $250 million in FY 2010. Not one of the 17 appears on Burd’s lists of most charitable colleges for low-income students, measured by percent of students receiving federal Pell Grants and the average cost of attendance (net price) for each low-income student in the 2010-2011 academic year an average net price over $10,000; 51 that charge over $15,000; and 26 that charge over $20,000. That prompted The Cardinal Newman Society to look specifically at Catholic colleges.

.The Jesuits’ Saint Louis University had an even larger endowment—more than $700 million in FY 2010—and yet charged low-income students an average of $23,842.  And Boston College, with one of the nation’s largest endowments of nearly $1.5 billion,still charged needy students an average of $13,128. 

But six wealthy Catholic universities appear on Burd’s list of institutions with relatively low percentages of Pell Grant recipients and high net price for the neediest students—including three Jesuit institutions,despite the Jesuits’ traditional emphasis on social concerns. At Santa Clara University in California, Burd reports, the average price charged to low-income students was a whopping $46,347—more than150 percent of their families’ annual income. And yet Santa Clara’s endowment (more than $600 million) was among the largest 100 for private colleges in the U.S.

Link (here) to The Cardinal Newman Society