More than $100M in scholarships goes unclaimed each year

The federal government offers billions in student aid each year in the form of scholarships, grants, loans, and more

The very first—and necessary—step is to fill out a federal application to get your information into the system. Known as the Free Application for Federal Student Aid, or FAFSA, this key form must be completed by Oct. 1 for the following academic year.

The federal government uses the FAFSA form to determine students' eligibility for aid.

The largest university endowments in the US

This US News article ranks the 20 universities with the largest endowments in the United States, based on data from the 2022 fiscal year. Harvard tops the list at more than $50B, followed by Yale, Stanford, and Princeton. Check out this snapshot of how these financial resources support academic programs, research, and student aid.

Reasons the wealthy like to give to universities

Every year, higher education receives the lion’s share of philanthropy for key reasons. Universities have huge budgets and can handle big sums. They also oversee a broad range of initiatives tailored to an individual’s goals, and are particularly credible institutions with long track records and strong brands.

Explore a college affordability and transparency guide

From the US Department of Education, this portal provides everything you need to evaluate colleges. The college scorecard provides handy data on every school, from graduation rates to annual average earnings out of school, while the net cost calculator directs you to each school's calculator that allows you to estimate the cost of college based on your unique circumstances.

Roughly 43 million Americans hold a cumulative $1.6T in federal student debt

About 43 million Americans hold a cumulative $1.6T in federal student debt. That's more than the country's combined credit card balance, according to data from in the first quarter of the year 2024.

Student loans weren't always so prevalent—decades of rising tuition and the 1965 Higher Education Act contributed to their proliferation.

Understanding why graduate fellowships from the NSF have exacerbated funding inequities

In 2017, 86% of Graduate Research Fellowship Program awardees came from institutions with high research activity, while just 0.3% were from HBCUs. Although the National Science Foundation mandates that all grant proposal reviewers undergo bias training, anecdotal data suggests that well-resourced schools take significant steps to prepare applicants, and they submit proposals at a higher-than-average rate. (Some readers may experience a paywall.)

Evaluating college endowment returns

According to a new study, US college and university endowments achieved an average net return of 11.2% in fiscal year 2024. Harvard University maintained its position as the largest endowment, valued at $53.2B. Read this Forbes article to learn more about how institutions manage and grow their financial resources through endowments.

More than half of student loan borrowers owed less than $25K in federally managed student debt as of 2024.

15 states offer school voucher programs, serving nearly 350,000 students

Voucher programs direct public K–12 funding to families in the form of tuition grants for private schools and are typically targeted to low-income or special-needs students.

Just 7% of student loan borrowers account for 40% of outstanding student loan debt

Most student loan debt went to support graduate studies. Total student loan debt in the US is more than $1.6T. Downloadable tables show the raw data behind federal student aid.

See a comprehensive list of every type of currently available federal student loan, from Direct Subsidized Loans to Parent PLUS loans.

College sticker prices can be misleading, as most students don't actually pay the advertised price due to financial aid.

College sticker prices can be misleading, as most students don't actually pay the advertised price due to financial aid.

A study followed a cohort of Black graduates beginning in the 1995–96 school year

While access to higher education led to improved outcomes across minority groups in the US, a significant gap exists in the average amount of debt held and the time it takes to pay back loans. This study found median Black borrowers still owed 95% of the principal two decades later.

Some educators argue society's obsession with colleges at the top of rankings has hurt the US higher education ecosystem

Why are "good colleges" often the ones that accept the fewest students? Speaker Cecilia Orphan argues that society's obsession with colleges that are often private, expensive, and that reject applicants with high frequency has done harm. Instead, she argues, we should focus on regional public universities that meet the needs of students in a cost-achievable manner.

How universities manage their endowments

The CNBC video report explores how elite universities like Harvard handle their massive endowments, the ethical debates around their investments, and the tension between growing wealth and rising college costs. If you’re curious about where billions of dollars in higher education go, why tuition remains high despite huge endowments, or how student activism is pushing for ethical investing, this video offers a revealing, accessible look at the financial engines behind America’s top colleges.

Use this college navigator tool to make informed decisions about college options

Balancing the benefits and costs of higher education on a school-by-school basis can be overwhelming. This database from the National Center for Education Statistics provides an easily searchable database with comprehensive information on costs, student aid, outcomes for alumni, retention rates, and much more.

About one dollar in every six that are owed to the federal government aren't paid each year

That adds up to close to $1T in what's known as the "tax gap." Read a breakdown on the main drivers of tax evasion (distinct from legal tax avoidance) in the US.

Some say a $100,000 salary can’t buy the American dream

According to a 2023 survey, 52% of Americans said they would need to earn at least $100,000 a year to be financially comfortable. However, for a family of four, that's not enough money to achieve the American dream (having a degree of economic security) in any of the 50 states.

College football generates over $13B annually—but many programs run at a loss.

The federal government distributes more than $160M in grants directly to libraries each year

The Institute of Museum and Library Services distributes funds annually to State Library Administrative Agencies, which support statewide initiatives and channel funds to public and academic libraries.

High demand forces H-1B visas into a lottery system each year

Because demand far exceeds the annual cap—65,000 new visas plus 20,000 for US master's graduates—employers must enter a lottery for new H-1B slots. In recent years, several hundred thousand petitions have competed for just 85,000 openings.

A look at Harvard University's endowment

​Harvard University holds the world's largest academic endowment, valued at $53.2B in fiscal year 2024. This official Harvard webpage explains how the endowment supports the university's mission, funding areas like financial aid, faculty positions, and research initiatives.

Consumers reported losing more than $126M to Social Security scams in 2023

This article includes tips on how to spot a Social Security scam, including information about what the real Social Security Administration will and will not do. For instance, the Social Security Administration will never threaten someone with benefits suspension or bank account seizure if they do not comply with a request.

Use this calculator to find out the programs and services your federal income taxes fund.

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Healthcare fraud may cost the US more than $100B annually—see this dashboard tracking healthcare fraud cases nationwide.

Watch a breakdown of tax breaks most Americans don't know about

Programs like healthcare savings accounts or flexible spending accounts are tax-free accounts that are designed to help lower healthcare costs. However, many Americans don't use them and don't understand how they work.

Why donors love to give to the wealthy schools

In this podcast episode of Revisionist History, Malcolm Gladwell explores why Hank Rowan’s $100 million gift to a small New Jersey college didn’t inspire others to support underfunded schools. Instead, donors continue to flock to elite institutions like Harvard and Stanford. “My Little Hundred Million” examines ways ideology and prestige have reshaped educational giving.

College endowments FAQ

​The National Association of College and University Business Officers (NACUBO) is a membership organization representing chief administrative and financial officers at colleges and universities. This page addresses 10 common questions about college endowments, including their purposes, management, and spending policies. Learn more about how endowments support institutional missions and financial sustainability.

Americans are projected to inherit $105T over the next 30 years

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

The average cost for an in-state, public university is close to $30K per year

To cover the cost, students turn to a variety of sources. Parental contributions plus savings funds cover about half of the expenses on average, with students relying on other sources—typically federal aid, in the form of scholarships and loans—to cover the rest.

College tuition has climbed 600% in 40 years

The cost of attending college has outpaced inflation in the US. Tuition has climbed more than 600% in the past 40 years; more than three times the inflation rate. Many students have racked up student loans to cover rising college costs, while others have chosen not to attend college altogether.

See how the cost of college tuition has changed overtime

Since the middle of the 20th century, higher education has been viewed as a stepping stone to well-paying professional careers for millions of Americans. But, it can be costly. As of 2024, annual tuition currently ranges from around $10K for an in-state, four-year public university to almost $40K for private institutions.

College budgets, explained

In this episode of the FutureU podcast, higher education experts Jeff Selingo and Michael Horn explore why so many colleges seem to be struggling financially. Hear how college budgets actually work, and why so many are unsustainable. It’s a crash course in revenue, expenses, and the big shifts schools need to make to survive.

An analysis of the National Science Foundation's historical budget and spending

The NSF accounted for 0.1% of all federal spending in FY2024, with $9.39B—just over twice its FY1991 spending—out of $6.78T overall. Almost 99% of these funds ($9.29B) went to general science and basic research, with the rest allocated to national defense.

A former grant recipient and reviewer explains how the NSF decides what research to fund

Every year, approximately 50,000 research proposals are evaluated against two merit review criteria approved by the National Science Board: the quality of the project and its potential societal impact. These evaluations are conducted by experts in the fields related to each proposal, identified by NSF program officers from a list of about 50,000 volunteers.

Federal subsidies have boosted US fracking profits

Between 2000 and 2020, the US government invested tens of billions of dollars to facilitate the extraction of shale oil and gas reserves. These subsidies helped make new projects viable and kept fossil fuel companies afloat while global energy prices and renewable energy startup costs have fallen.

How many Americans receive government assistance?

In 2022, nearly half of all American children—and roughly one in three Americans overall—were enrolled in at least one government assistance program. Those programs provide support for people who cannot afford healthcare, food, housing, or other needs. Find out more about the number of Americans receiving government assistance here.

Some Ivy Leagues are worth billions of dollars, managing massive endowments to support their operations and investing donations for long-term growth rather than spending them.

US public K-12 spending topped $857B in 2024

Public K-12 schools spent around $857B in 2024, averaging $17,277 per student. State and local sources shouldered nearly 90% of costs, and federal funds provided about $2,400 per pupil.

Where colleges get their money, visualized

If you're curious about how different colleges and universities generate their revenue, this National Center for Education Statistics webpage offers a clear visual breakdown. See how public, private nonprofit, and for-profit institutions fund their operations, highlighting the differences between funding sources depending on the type of institution.

Is college worth it?

Higher education has long been viewed as a stepping stone to more stable and higher-paying careers. Estimates suggest a college degree nearly triples average lifetime earnings. But the perception of value is different—only 22% of Americans say college is worth taking out loans for.

Ranking the most popular undergraduate degrees of the last decade

Roughly 2 million Bachelor's degrees are awarded by colleges and universities in the US every year, but within that number there are big shifts in the popularity and decline of certain majors. This data visualization breaks down the biggest gainers...

The federal government has spent more money annually than it has collected every year since 2022.

Y Combinator has a roughly 1% acceptance rate

That’s lower than the most elite universities and colleges in the world—but insiders have some tips about how applicants can have the best shot of being accepted to the selective startup accelerator.

Hear why one author thinks college rankings may be irrelevant

For more than three decades, US News & World Report has released an annual ranking of the country's best colleges. An extremely influential list that can determine application volume, funding decisions, and more, the rankings have been compiled by a secret algorithm indecipherable to many on the opposite side of the table. Author Malcolm Gladwell attempts to unpack the calculation, ultimately raising the question: How relevant is the list?

529 plans can affect college financial aid

Income affects FAFSA financial aid determinations. FAFSA also takes 529 college savings plans into account. The percentage of savings it uses in its calculations depends on who owns the account (parent, student, or someone else). Other schools use a program called CSS to determine financial aid, and those determinations vary.

The cost of college has more than tripled over the past five decades

Determining the all-in cost for each student’s specific circumstances can be tricky. But what is behind the rise in price? Analysts point to a number of factors—lack of transparency around cost, expansive government support, increased administrative burdens at schools, and more.