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|7||[[University of Pennsylvania]]||$14.6
 
|7||[[University of Pennsylvania]]||$14.6
 
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|8||[[Texas A&M University System]]||$13.5Columbia University||$7.8
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|8||[[Texas A&M|Texas A&M University System]]||$13.Columbia University||$7.8
 
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|9||[[University of Michigan]]||$12.4
 
|9||[[University of Michigan]]||$12.4
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Many industry experts argue that it is better to compare endowment per student rather than the over all endowment size.  
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Many industry experts argue that it is better to compare endowment per student rather than the over all endowment size. Although endowment size is a relative measure of a college's financial strength and stability, there are many other factors that influence the quality of a school.  For example, many of these schools include hospital systems with a portion of the endowment supporting hospital operations.  Also, public universities generally have lower endowments than private institutions, but public universities receive annual taxpayer appropriations that can make up for a lower annual endowment income.  In general, over time, universities earn an average of 4% per year on their endowment investments.  So, a $100 million endowment investment may subsidize annual operations by $4 million per year.
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Although endowment size is a relative measure of a college's financial strength and stability, there are many other factors that influence the quality of a school.  For example, many of these schools include hospital systems with a portion of the endowment supporting hospital operations.  Also, public universities generally have lower endowments than private institutions, but public universities receive annual taxpayer appropriations that can make up for a lower annual endowment income.  In general, over time, universities earn an average of 4% per year on their endowment investments.  So, a $100 million endowment investment may subsidize annual operations by $4 million per year.
      
Endowment size generally confers a competitive advantage to colleges with larger endowments, as shown by this table with the top 100 colleges holding 78% of all college endowment assets:
 
Endowment size generally confers a competitive advantage to colleges with larger endowments, as shown by this table with the top 100 colleges holding 78% of all college endowment assets:
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