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Colleges with the fattest piggy banks: Look to the 'Ivies'

Member schools in the Ivy League tend to be among the oldest in the US. As such, they enjoy some of the largest endowments in higher education. Four of them, led by Harvard, are among 56 universities whose endowments top $1 billion, according to a survey by the National Association of College and University Business Officers. It's common for these schools to spend about 5 percent of their cash reserves each year on operations, an amount that usually is replenished by investment earnings, which averaged 9.3 percent in the year ending June 30. The schools with the largest endowments (in billions of dollars):

1. Harvard* $25.47
2. Yale* 15.22
3. Stanford 12.21
4. University of Texas System 11.61
5. Princeton* 11.21
6. Massachusetts Institute of Technology 6.71
7. University of California 5.22
8. Columbia* 5.19
9. Texas A&M System and Foundations 4.96
10. University of Michigan 4.93
*Ivy League member
- Associated Press

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