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Why are US universities the richest ?

I really don't understand why top notch universities elsewhere (lets consider UK for example) aren't even a fraction as rich as the US ones.

1. Why are the US universities so rich? How? Is it just money from donations or do they get some form of federal grants ?

2. Why are the UK universities relatively poorer? I realise that the UK universities are publicly funded but does that stop them from receiving donations and such ?

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Reply 1

Deus

Huuge fees for tuition.

For example, one year in Harvard is $46,450 according to Harvard.

http://www.admissions.college.harvard.edu/prospective/financial_aid/costs/index.html

Reply 2

fonzievision

It helps that wealth generates wealth. The richest USA universities are highly diversified in terms of where they put their money in. They invest in a heck of a lot, from hedge funds to emu farms - literally.

It seems as if Americans are more philanthropic. They donate in huge amounts to their Alma maters. The UK easily pales in comparison. Harvard's yearly endowment alone (over 20something billin dollars) is many times over the combined endowment of UK universities.

Reply 3

arkbar

They also squeeze money out of their alumni very effectively, two of my friends work to raise money from alumni and seem to be raising rather a lot.

Reply 4

shady lane

Yes I think it's very strange that British people I know don't feel any obligation to give money back to their universities. You paid barely anything to go there, why not give back something? I will give to Stanford every year, as long as I can afford to, even if it's just $50 or something small.

Reply 5

life sux

Harvard seems to be the richest university in the world due to the huge tuition fees and also coz they get a lot of donations from their alumni.

Reply 6

fonzievision

rockin the universe

Harvard seems to be the richest university in the world due to the huge tuition fees and also coz they get a lot of donations from their alumni.

Nothing to do with huge tuitions. There are plenty of schools with alike fees that don't even come close to Harvard.

Reply 7

forpolarbears

Harvard makes a lot of money off of patents and contracts, and the tuition is comparable to most other top private schools.

Reply 8

1tadakimasu

From what I've seen in my 2 months so far in California, they place a much greater emphasis on going to college. I mean from top jobs to playing in the NBA, it is important to have spent at least some time at college. They make education seem like a cool thing here. It's even cool to be a nerd too, lol.

Reply 9

la fille danse

shady lane

Yes I think it's very strange that British people I know don't feel any obligation to give money back to their universities. You paid barely anything to go there, why not give back something?

Probably because most of them feel that they are automatically entitled to a degree, without paying anything, let alone giving anything back... look at how many of them complain about £3000 fees. :rolleyes:

Reply 10

Champagne Breakfast

Also depends on how well you manage your endowment.

Reply 11

lucho22

The Ace is Back

Also depends on how well you manage your endowment.

One thinks of King's College Cambridge - one idiot Master and it's back in the red...

Reply 12

devil09

There was a recent article about Cambridge and Oxford adopting Ivy-style investment practices.

http://www.timesonline.co.uk/article/0,,591-2474928,00.html

Reply 13

tangsiuje

more adventurous

Ehm. British unis are subsidised by the government. The government collects revenues through taxation. European taxes are a biit higher than American. Hence, it is arguable that the average British/European students pay just as much as their American counterparts, just at a different time.

This also implies that the best thing is to get a British degree, settle in the US, keep your British passport, and return to Britain three years before your toddlers are due to enter university. :wink:

Reply 14

shady lane

Public universities are funded through state taxes in the US. So it doesn't fully hold. It's an attitude.

Reply 15

tangsiuje

shady lane

Public universities are funded through state taxes in the US. So it doesn't fully hold. It's an attitude.

Ehm. I would argue that the severe underfunding of most American public university further strengthens my argument.

What argument?

tangsiuje

Ehm. I would argue that the severe underfunding of most American public university further strengthens my argument.

Public universities like Berkeley and UCLA? Even mediocre public universities in the US are far better funded than most British unis. Just look at the level of technology in public American unis and British ones, and the type of facilities available in the two countries. Heck, even professors tend to get paid more in the American public unis.